KiwiSaver rides the waves
According to the latest Morningstar quarterly KiwiSaver Survey released this week, all multisector KiwiSaver funds made positive returns with average category returns ranging from 1.6% for the conservative category and up to 5.8% for the aggressive category.
Morningstar's Asia-Pacific director of manager research Tim Murphy says total KiwiSaver assets continue to grow and are close to reaching $83 billion.
Murphy says Morningstar agrees with the Financial Markets Authority's recent guidance to KiwiSaver providers on the inappropriateness of marketing shorter-term periods, like 12-month returns, as a means of attracting new prospective investors.
"And as we have repeatedly reiterated every time we publish our quarterly KiwiSaver Survey, 'it is most appropriate to evaluate performance of a KiwiSaver scheme by studying its long-term returns'."
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