All multisector KiwiSaver funds produced positive returns over the March quarter, a Morningstar survey showed. Photo: 123rf
KiwiSaver funds have had a solid start to the year after being hammered by volatile markets in 2022.
The latest survey from investment firm Morningstar showed KiwiSaver assets increased to $91.9 billion in the first three months of this year.
All multisector KiwiSaver funds produced positive returns over the March quarter, with the average returns ranging from 2.9 percent for the conservative category (including default options) to 5.6 percent for the aggressive category.
The value of KiwiSaver assets fell more than $3.6 billion last year, however the equity market experienced a positive performance in the last three months of 2022.
https://www.rnz.co.nz/news/business/484280/kiwisaver-assets-increased-in-december-2022-quarter
Morningstar data director Greg Bunkall said the news of the positive could get lost in the noise around market fluctuations and a potential looming recession, but was important to note.
"The funds that had more exposure to growth assets, things like shares and listed property and asset classes like that the best," he said.
"This quarter was what is known as a risk on environment, where if you had risky assets, they did well, and across the board, the category that has the higher growth assets did the best."
Simplicity's conservative fund was a top performer against its competitors over the quarter, with returns of 3.7 percent, while BNZ's moderate fund rated highly, with returns of 4.2% and JUNO's balanced fund, with returns of 6.5 percent.
ANZ lead the market share with more than NZD 18.7 billion, followed by ASB with a market share of 15.7 percent.
BT held third spot ahead of Fisher Funds, in fourth.