Morningstar Releases KiwiSaver Performance Survey

Morningstar today released its KiwiSaver Performance Survey to 30 June 2011, designed to help New Zealand investors assess the performance of KiwiSaver superannuation options.

"KiwiSaver results for the second quarter were mixed, the high Kiwi dollar creating a severe headwind for offshore investments," said Morningstar Co-Head of Fund Research Chris Douglas. "However, it's pleasing to see that many KiwiSaver funds are continuing to perform admirably over longer timeframes, especially when looking at performance from an investor's standpoint."

Morningstar's KiwiSaver database is free for all fund managers to join, and reports are made freely available to investors and financial services professionals alike.

Other Key Findings
• OnePath (mapping to SIL, ANZ, and National Bank KiwiSaver options), Mercer, and Westpac were the best-performing multi-sector KiwiSaver options over the June 2011 quarter.
• The average investor experience in KiwiSaver has been significantly better than the headline returns would suggest. A money-weighted calculation of KiwiSaver fund returns shows the power of systematic dollar cost averaging.
• ASB Bank has increased the costs of a number of its KiwiSaver funds, while reducing some others.
• Morningstar has begun calculating after-tax returns for KiwiSaver funds, which is available to our clients. We will publish analysis of after-tax performance in future surveys.

ENDS

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