Best Performing KiwiSaver Funds in New Zealand – Year Ending June 2024
The top-performing KiwiSaver Growth, Balanced and Conservative funds for the year ending June 2024. Historical annual returns and original fund commentary.
Matt Porter
8/13/20243 min read
Historical article first published in August 2024. The listed fund returns are for the year ended 30 June 2024, not the three-month quarter alone. The original historical figures and commentary are retained below, with the return-period labels clarified. Geared funds carry additional risk and should not be treated as directly comparable with ungeared funds.
Top Diversified KiwiSaver Funds in June 2024 by Category
Growth Funds
Booster Geared Growth Fund
One-year return to 30 June 2024: 16.6%
Fund Type: Growth
Overview: The Booster Geared Growth Fund has capitalised on the recovery in global equities, particularly in the technology and healthcare sectors. This fund uses gearing to enhance returns, which has paid off significantly in this quarter, making it a standout performer in the growth category.
PIE Growth Fund
One-year return to 30 June 2024: 14.9%
Fund Type: Growth
Overview: PIE’s Growth Fund has benefited from active management and a diversified portfolio that spans both local and international markets. Its strong allocation to high-performing tech stocks and strategic adjustments during the quarter have resulted in impressive returns.
Generate Growth Fund
One-year return to 30 June 2024: 14.2%
Fund Type: Growth
Overview: Generate Growth Fund continues to offer a robust balance between risk and reward. The fund’s diversified approach, focusing on both equities and fixed-income investments, has yielded solid returns, appealing to moderate-risk investors looking for consistent performance.
Balanced Funds
PIE Balanced Fund
One-year return to 30 June 2024: 13.1%
Fund Type: Balanced
Overview: PIE Balanced Fund has emerged as a top performer in the balanced category, thanks to its prudent mix of growth and income assets. The fund’s strategic focus on high-growth sectors while maintaining a solid base of income-generating investments has paid off well this quarter.
QuayStreet Socially Responsible Balanced Fund
One-year return to 30 June 2024: 12.8%
Fund Type: Balanced
Overview: The QuayStreet Socially Responsible Balanced Fund stands out for its commitment to ethical investing. By focusing on companies with strong environmental, social, and governance (ESG) practices, this fund has attracted investors looking for both strong returns and responsible investment options.
QuayStreet Balanced Fund
One-year return to 30 June 2024: 12.0%
Fund Type: Balanced
Overview: QuayStreet Balanced Fund has demonstrated consistent performance through careful asset allocation and active management. Its diversified portfolio, which includes a mix of equities, bonds, and other assets, has provided a balanced return in line with its risk profile.
Conservative Funds
Fisher Funds Plan Default Conservative
One-year return to 30 June 2024: 7.7%
Fund Type: Default Conservative
Overview: Fisher Funds Plan Default Conservative Fund has delivered steady returns by focusing on low-risk assets such as government bonds and high-grade corporate debt. Its conservative strategy has proven effective in maintaining stability and modest growth, appealing to risk-averse investors.
Generate Conservative Fund
One-year return to 30 June 2024: 7.4%
Fund Type: Conservative
Overview: Generate Conservative Fund has maintained a stable return profile, largely due to its emphasis on income-generating assets like bonds and cash equivalents. This fund is well-suited for investors seeking capital preservation with some level of return.
QuayStreet Conservative Fund
One-year return to 30 June 2024: 7.4%
Fund Type: Conservative
Overview: The QuayStreet Conservative Fund has performed well in a low-yield environment by focusing on a blend of fixed-income securities. Its conservative approach, coupled with selective exposure to low-volatility equities, has ensured consistent returns.
Factors Driving Performance
Several factors have contributed to the performance of these top KiwiSaver funds in the June 2024 quarter:
Sector Rotation: The rotation into sectors like technology and healthcare has driven growth in the top-performing funds, especially those with a higher allocation to these areas.
Active Management: Funds that employ active management strategies have been able to swiftly adapt to changing market conditions, making timely adjustments to their portfolios, which has resulted in better performance.
Market Recovery: The continued recovery in global markets, particularly in developed economies, has provided a favourable backdrop for growth-oriented funds.
Why Performance Matters
Choosing a high-performing KiwiSaver fund is crucial for long-term financial growth and retirement planning. Regularly reviewing and understanding fund performance helps investors make informed decisions, ensuring their investments are aligned with their financial goals.
Conclusion
As we move into the second half of 2024, keeping an eye on the best-performing KiwiSaver funds can provide valuable insights into market trends and investment opportunities. Whether you are a growth-oriented investor or prefer a balanced approach, staying informed about fund performance is key to maximising your KiwiSaver returns.
For more personalised advice and to discuss which KiwiSaver fund might be the best fit for your financial situation, please complete our 2-minute KiwiSaver Questionnaire. Our KiwiSaver advice experts are here to help you navigate the complexities of investing and achieve your financial goals.
Historical data source: Morningstar KiwiSaver Survey – June Quarter 2024. Past performance does not guarantee future returns.
June-quarter performance archive
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