Our Fund Performance


Fees and Returns

There has been a lot of media comment recently about the impact of fees on people’s KiwiSaver accounts. Fees are a very important consideration but we think that the focus has not been on the right numbers. You can’t look at fees in isolation and need to view them in conjunction with returns – after all, they do go hand in hand. The most important number is your net return after paying fees. This is what you actually get in your pocket.
 
To view our fee structure, click here.
 
The charts below provide historical comparisons for each of the relevant (1 April to 31 March) Scheme years:
 
Fees and returns

Costs, tax and returns - historical comparisons

Charts 1 and 2 above show, for each of the relevant (1 April to 31 March) Scheme years:
  • the fees and charges that would have been deducted;
  • the tax that would have been paid, or refunded, assuming the top PIR applied (see below); and
  • the investment return that would have been achieved, before and after deducting those fees and charges and tax;
with respect to a $10,000 lump sum invested in the Growth Fund or the Conservative Fund (as applicable) on 1 April that year. Chart 2 relates solely to the year ended 31 March 2011 - as the Conservative Fund was launched in June 2009, no earlier full-year figures are available.
 
Each year’s figures assume no further contributions or withdrawals were made.
 
To the extent that they are taxable, investment returns are taxed at a member’s PIR. The top PIR is currently 28%
(and was 30% in 2009 and 2010).