Active managers slip down KiwiSaver tables

Managers have been navigating a volatile environment, with many tech stocks soaring in price and becoming increasingly dominant on indices.

0Some active managers have reduced their exposure to some parts of the market they view as riskier, which has so far led to softer returns.
After a long period of outperformance, for example, Milford has slipped down the KiwiSaver growth rankings in the past year. It retuned 11.12 percent in a year.  Amova’s Global Shares fund has returned 1.2 percent.

In comparison, Kernel Wealth’s Global 100 is up 36.8 percent over a year, and 26.55 percent NZD hedged. ASB’s growth fund is up 16.32 percent over a year. Simplicity’s growth fund returned 17.56 percent.

Gertjan Verdickt, a senior finance lecturer at the University of Auckland, said part of the reason was the market structure.