Generate Tops KiwiSaver Charts for June Quarter

The growth fund delivered 6.1% for the latest quarter and, while it ranked fifth out of 15 funds over the year ended June with an 11% return, it was also the best performer over three years with a 13.1% annual return and was second over five and 10 years with annual returns of 9.2% and 8.5% respectively.

Milford’s $7.09 billion growth fund was second-best performer in the three months with a 5.7% return and it was the best performer over one, five and 10 years.
MJW classifies funds with between 66% and 85% of growth assets as growth funds.

Generate’s moderate fund delivered a 4.4% return over the latest three months and was second-best performer out of 12 funds in the year ended June with a 9.5% return. It was the best performer over three years with an 8.5% annual return, second over five years with a 5.5% annual return and first over 10 years with a 5.7% annual return.

MJW designates funds with between 30% and 49% of growth assets as moderate.

Among balanced funds, those with between 50% and 65% in growth assets, Westpac’s $2.25 billion fund was the best performer in the latest three months with a 4.6% return, although it ranked sixth out of 16 funds over the year ended Ju7ne with a 9.7% return and was also sixth over three years with a 9.2% return.

Among conservative funds, those with between 15% and 29% of growth assets, Westpac’s $3.2 billion fund was the best performer with a 2.8% return while its defensive conservative $249 million fund was the second-best performer with a 2.4% return.

It wasn’t a great quarter for Fisher Funds – its growth fund, formerly Kiwi Wealth, was the worst performer out of 15 funds with a 3.7% return in the three months while two other Fisher growth funds ranked second and third-worst performers in the latest quarter.

The latter was third best performer over 10 years with an 8.3% annual return.

Fisher’s two balanced funds, its own and the former Kiwi Wealth one, were the worst performers among the 16 funds in the category with quarterly returns of 3.1% and 3%.

The former Kiwi Wealth balanced fund was 13th out of 15 funds over 10 years with annual returns of 5.9% while Fisher’s own balanced fund ranked fifth over 10 years with annual returns of 6.6%.

The worst-performing conservative fund was BNZ’s $375 million First Home Buyer fund with a 1.8% return for the quarter and it was second-worst for the year ended June with a 6.2% return.

Among the six default funds, SuperLife’s was the best performer in the quarter with a 4.6% return, although it was the worst over the year ended June with an 8.2% return.

Fisher’s default fund, formerly Kiwi Wealth, was the best performer over the year with a 10.2% return but it was the worst performer in the June quarter with a 2.3% return.