Articles by Steve Munro - Guest Contributor
The latest Morningstar KiwiSaver results are out, and if you’re with ANZ, you might want to sit down for this. Turns out the biggest provider isn’t exactly the best performer. Despite holding nearly $22 billion in KiwiSaver funds, ANZ have been consistently underwhelming across multiple fund categories.
Here’s how they ranked in the past year:
• 18th in Conservative
• 21st in Moderate
• 32nd in Balanced
• 25th & 26th in Growth
• 16th in Aggressive
Not great. But what about the last 10 years?
• 12th in Conservative
• 6th in Moderate
• 14th in Balanced
• 10th in Growth
Slightly better, but still nothing spectacular.
So why does ANZ still hold the most KiwiSaver money?
That’s the real question. If they’ve been consistently average, why aren’t people moving? The answer is simple: most people aren’t paying attention.
KiwiSaver is set and forget for many, and that’s a huge problem. Thousands are still sitting in default funds, missing out on better returns. Many haven’t reviewed their fund choice since they first signed up.
KiwiSaver isn’t just something you check when you retire—it’s a key part of your future wealth. Whether you’re buying a first home or saving for retirement, making sure your money is in the right place can make a serious difference.
Depending on your contributions, time in the market, and fund choice, making the right switch could mean tens or even hundreds of thousands of extra dollars in your retirement savings.
With NZ’s superannuation future uncertain, ensuring KiwiSaver is working for you—not just your provider—is essential. Regularly check the performance of your current fund, and if it’s sub-par, consider changing providers.
If this has got you thinking, let’s chat, because the easiest way to assess the various providers is to talk to a financial adviser. I can help you review your KiwiSaver, check if you're in the right fund, and make sure you're not leaving money on the table. A 10-minute conversation could be worth thousands (or more) in the long run. And even better, this review won’t cost you anything apart from a little bit of time.
Get in touch today and let’s check your KiwiSaver strategy: stevem@riskdirect.co.nz or send an enquiry through the Risk Direct website.
All staff are absolutely awesome.
- Grant W, February 2024
Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.
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