KiwiSaver assets grow to $117.6 bill

According to research firm Morningstar’s latest KiwiSaver survey, the third quarter saw a mixed performance across the various asset classes, with some benefiting from easing inflationary pressures and softer monetary policy. Others experienced headwinds from global economic uncertainties and domestic factors.

All multi-sector funds had a positive performance in Q3, with funds’ returns ranging from 2% to 5%.

“The Kernel balanced fund has performed quite strongly, Westpac had a bounceback quarter, they’ve been a bit sluggish over three to five years and that’s come through this quarter as well,” said Morningstar Asia Pacific Data Director Greg Bunkall.

“ANZ had a bounceback quarter as well, they performed in the top five this quarter, but the numbers between the best and worst aren’t that different this quarter.”