Best Performing KiwiSaver Funds in New Zealand – Year Ending June 2026

The year ending June 2026 produced a different line-up of KiwiSaver leaders. Here we review the top diversified Growth, Balanced and Conservative funds, with an annual return and overview for each of the leading options.

Reporting period: 1 July 2025 to 30 June 2026. These are one-year returns, not June-quarter returns. Rankings use the one-year column in Morningstar’s June 2026 survey within the three categories shown. Separate aggressive, geared, single-sector and replicated-option tables are outside this comparison.

Top Diversified KiwiSaver Funds for the Year Ending June 2026 by Category

Growth Funds

1. AMP Global Select Growth Fund

   • One-year return: 21.5%

   • Fund Type: Growth

   • Overview: AMP Global Select Growth led this annual Growth comparison. Its mandate seeks returns consistent with a growth investor profile over the medium to long term. The strong result is useful context for a review, alongside the fund’s current investment mix, charges and risk.

2. MAS Growth

   • One-year return: 19.0%

   • Fund Type: Growth

   • Overview: MAS ranked second in the Growth category. Its portfolio combines international and Australasian shares with a smaller allocation to fixed interest and cash. The emphasis on growth assets suits an assessment focused on longer-term goals and the ability to withstand market fluctuations.

3. AMP Global Select Balanced Growth Fund

   • One-year return: 18.4%

   • Fund Type: Growth (Morningstar category)

   • Overview: Despite “Balanced Growth” in its name, this fund appears in Morningstar’s Growth category for this comparison. AMP describes a medium-to-long-term balanced-growth mandate. Compare its actual allocation with alternatives rather than assuming that similarly named funds carry identical risks.

Balanced Funds

1. Fisher Funds Plan Default Fund

   • One-year return: 16.1%

   • Fund Type: Balanced

   • Overview: Fisher Funds Plan Default led the Balanced category over the year. Its mix of income and growth assets aims to combine investment growth with stability of returns over time. A default fund is still an investment with market risk, rather than a guaranteed savings account.

2. Kernel Balanced Fund

   • One-year return: 14.9%

   • Fund Type: Balanced

   • Overview: Kernel was second in the survey’s ranking, with the same displayed one-decimal return as MAS Balanced. The fund combines equities and fixed interest through other Kernel funds. Its diversified mix offers growth exposure supported by an allocation to income assets.

3. MAS Balanced

   • One-year return: 14.9%

   • Fund Type: Balanced

   • Overview: MAS completed the Balanced top three, alongside Kernel at the displayed return. Its portfolio combines international and Australasian shares with fixed interest and cash. That mix provides a middle ground between MAS’s growth-oriented and more conservative options, while retaining the potential for losses.

Rounding note: Kernel and MAS Balanced both display 14.9%. Their order follows the survey’s published ranking; the rounded returns should not be read as a meaningful performance gap.

Conservative Funds

1. ASB KiwiSaver Scheme Conservative Fund

   • One-year return: 7.9%

   • Fund Type: Conservative

   • Overview: ASB led the Conservative comparison for this annual period. Its investment mix places greater emphasis on income assets than growth assets. Investors can assess it where limiting fluctuations matters, while recognising that a conservative label does not remove investment risk.

2. AMP Global Select Conservative Fund

   • One-year return: 7.8%

   • Fund Type: Conservative

   • Overview: AMP Global Select Conservative placed second in the category. Its mandate targets returns consistent with a conservative investor profile over the medium to long term. Review its current underlying investments and fees, as a close annual result does not mean identical portfolio exposures.

3. MAS Conservative

   • One-year return: 6.9%

   • Fund Type: Conservative

   • Overview: MAS rounded out the Conservative leaders. It invests predominantly in New Zealand and international fixed interest and cash, with a smaller share allocation. This more defensive mix aims for a steadier journey than growth-oriented options, although its value can still move down as well as up.

What stood out: AMP headed Growth, Fisher Funds Plan Default headed Balanced and ASB headed Conservative. MAS featured in all three lists. These results show the leaders for one completed year; they do not establish the best fund for every investor or the next reporting period.

Factors to Consider When Comparing Performance

Asset allocation: The mix of shares, bonds and cash affects both potential returns and the size of fluctuations. Even funds within the same category can have different investment exposures.

Investment approach: Active managers make decisions about holdings and allocations, while index-based approaches follow selected markets. A strong annual result alone does not establish which approach will work best in the next year.

Fees and tax: These survey returns are after fees and before tax. Your personal return will also reflect your tax rate, the timing of contributions and withdrawals, and any additional advice fees.

Why Performance Matters for Your KiwiSaver

Performance is useful evidence when reviewing your savings, but compare several periods and funds with similar risk profiles. A one-year winner may not lead over five or ten years. Check the current product disclosure statement, fees and investment mix before making a change.

Match your KiwiSaver to when you expect to use it. A long-term retirement investor may be able to accept greater fluctuations than someone approaching a first-home withdrawal. Conservative funds can also fall in value. Past performance does not guarantee future returns.

Conclusion

The leading funds offer different investment approaches, and the right choice depends on your goals, timeframe and tolerance for risk. Diligent Wealth Management can help you review those factors alongside performance and your wider financial position.

Complete our KiwiSaver questionnaire to start a personalised review. This article is general information and does not take your personal circumstances into account.

Sources and Methodology

Annual returns and rankings: Morningstar KiwiSaver 360, June 2026. Returns are after fees and before tax, rounded to one decimal place. These are the three highest reported one-year results in each selected survey category, not a ranking of every KiwiSaver option available.

Fund approach references: AMP fund comparison, MAS investment options, Fisher Funds Plan investment options, Kernel Balanced and ASB fund options. Strategy summaries describe the fund approach; they do not attribute the year’s return to particular holdings. Published 28 October 2026.

Annual KiwiSaver performance archive

Year ending June 2024 | Year ending June 2025 | Year ending June 2026

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