Vote 4 KiwiSaver: democratised 2023 report finds lower fees, more choice, power plays and downbeat performance

The Investment News NZ annual KiwiSaver report is back on track in 2023 with the 16^th edition now available for free download.

With total scheme funds under management reaching $93.6 billion as at the March 31 balance date, the retirement savings system ended the torrid 12-month period about 4.3 per cent ahead.

But while a last-minute market turnaround prevented any serious damage to KiwiSaver portfolios, average investment returns were still off by more than 2 per cent for the year.

As the report details, only 10 of the total 38 schemes in business during the year ended ahead performance-wise in a return spectrum ranging from almost 10 per cent to more than -20 per cent.

Nonetheless, all but four providers managed to increase assets under management over the 12 months to March 31 during a period that saw Fisher Funds complete a power play by bringing the Aon and Kiwi Wealth schemes under its fold and increasing the ownership proportion of the top five firms.

Several smaller schemes, however, blipped on the competitive radar this year after recording super-fast growth-rates.

Furthermore, the report reveals that the fees and expenses collected over a 12-month period fell in nominal terms for the first time.

Click here to get your free Vote KiwiSaver report: there’s something in it for you.

A complete set of the data in Excel spreadsheet form, covering member and funds under management trends; fees and expenses; investment returns; scheme transfers and other metrics, is available for the politically correct fee of $460 plus GST ($529 including GST).

Please contact the author at david@investmentnews.co.nz or ph +64 21 022 575 03 for further details.