Growth funds report strong returns
Morningstar yesterday released its KiwiSaver Performance Survey to March 31.
Douglas said the first quarter of the year had been a busy one for KiwiSaver providers, with several closing funds to new investment and BNZ joining the market.
Douglas said the latest return pattern was much as most people would expect. “When equity markets are strong, balanced growth and aggressive funds do better.”
Funds with an exposure to shares and listed property have done well while fixed interest returns have been less impressive. Milford’s allocation to shares pushed it to the top of the conservative and balanced funds categories.
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