Weaker markets may make fees harder sell

It has released its latest investment survey, which shows the average KiwiSaver balanced fund delivered 16.3% in 2019, the best result since the actuarial firm’s KiwiSaver survey began in 2009.

The top balanced fund was ANZ’s Balanced Growth Fund, returning 19.8% after fees. This fund also has the top ranking over ten years.

Amongst growth funds, ANZ again took the top ranking. In this category, ANZ has a similar asset allocation to its peers (although it does have a large weight towards property and infrastructure). Thus, its high ranking is perhaps due more to strong performance within asset classes – particularly global equities.

Milford’s Active Growth Fund was seventh over the year but had returned 12.6% a year after fees over a 10-year period.