KiwiSaver value for money not set and forget
Rajat Vats, founder of Nuvano, noted there was a wide range of fees being charged by KiwiSaver providers, from under 30 basis points at Simplicity and Kernel through to more than 1.3 percent at NZ Funds and AE KiwiSaver.
He said the average excess return compared to benchmark across funds with 10 years of data to report was -1.42 percent.
But on an absolute return basis, eight of the to 10 performers over 10 years were active managers, including OneAnswer, QuayStreet and SuperLife funds.
“Most of the funds are actually not really even beating their benchmarks. But you have to then look at the further nuance … some fund managers would use indexes as their benchmark. Some fund managers would create their own composite benchmarks. And some don't really have benchmarks.
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