KiwiSaver Monthly Performance Tables

Monthly performance tables for over 1000 funds available for investment in New Zealand.

Below we have included excerpts of the KiwiSaver universe of funds we survey as at 31 May 2020 .

Click here to view our performance methodology, rating methodology and disclaimer.

KiwiSaver Currency - New Zealand Dollar Fund

New Zealand Dollar Funds invest the majority of their assets in money market instruments that are denominated or hedged in New Zealand Dollar.

NZ KiwiSaver: Currency - New Zealand Dollar1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver Cash82.13✪✪✪
ANZ Default KiwiSaver Cash Plus0.096/130.421.776/132.12.281.4923.04✪✪✪✪
ANZ Kiwisaver Cash0.096/130.431.794/132.122.31.39786.54✪✪✪✪
ANZ OneAnswer Kiwisaver Cash Plus0.096/130.431.794/132.032.191.4463.42✪✪✪✪
Aon KiwiSaver ANZ Cash0.0411/130.261.2312/131.641.8315.827.24✪✪
Aon KiwiSaver Nikko Cash0.192/130.241.469/131.872.1314.893.06
ASB KiwiSaver Schemes NZ Cash0.0213/130.181.2611/131.792.091.52458.83✪✪✪
BNZ KiwiSaver Cash0.0810/130.41.727/132.152.341.2244.74✪✪✪✪✪
Fisher TWO KiwiSaver Preservation0.163/130.091.4410/132.032.262998.8735.36
Kiwi Wealth KiwiSaver Cash0.144/130.291.873/132.412.61222.05✪✪✪
Mercer KiwiSaver Scheme Cash35.17✪✪✪
Nikko AM KiwiSaver Scheme NZ Cash0.231/130.341.971/131.051.14
Summer New Zealand Cash0.0411/130.150.9913/131.341.05
SuperLife NZ Cash0.096/130.161.971/132.282.511604.16✪✪
Westpac KiwiSaver Cash0.15/130.31.578/131.962.221.45544.76✪✪✪✪✪
NZ KiwiSaver: Currency - New Zealand Dollar TotalSector Average0.10.271.431.831.99

KiwiSaver Diversified Balanced Fund

Diversified Balanced Funds invest in a mixture of asset classes but with the proportion invested in each being approximately the same.

NZ KiwiSaver: Diversified Balanced1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver ANZ Balanced Plus283.23
AMP KiwiSaver ASB Balanced26.29
AMP KiwiSaver Lifesteps AMP Balanced997.77
AMP KiwiSaver Lifesteps AMP Moderate Balanced737.27✪✪
AMP KiwiSaver Mercer Balanced50.42✪✪
AMP KiwiSaver Nikko Balanced78.72
AMP KiwiSaver Responsible Investment Balanced13.71
ANZ Default KiwiSaver Balanced2.710/320.235.7620/315.935.631.96178.26✪✪✪
ANZ Default KiwiSaver Balanced Growth3.42/32-0.445.5622/316.416.211.99186.32✪✪
ANZ Kiwisaver Balanced2.710/320.235.7620/315.935.662.052593.69✪✪✪
ANZ Kiwisaver Balanced Growth3.42/32-0.455.5622/316.46.222.112228.84✪✪
ANZ Kiwisaver Conservative Balanced229/320.925.9318/315.395.071.971288.54✪✪✪✪✪
ANZ OneAnswer Kiwisaver Balanced2.710/320.235.7719/315.965.712.08601.6✪✪✪
ANZ OneAnswer Kiwisaver Conservative Balanced1.9930/320.925.9417/315.425.071.99211.42✪✪✪✪✪
Aon KiwiSaver ANZ Balanced3.145/32-0.325.3125/315.535.4328.1131.59✪✪
Aon Russell LifePoints 20252.2227/32-0.367.455/315.625.8310.2421.69✪✪✪✪
Aon Russell LifePoints 20352.617/32-0.926.6411/316.266.5610.2722.56✪✪✪
Aon Russell LifePoints Balanced2.748/32-1.26.6212/316.346.6410.59181.79✪✪✪
Aon Russell LifePoints Moderate2.3722/32-0.586.728/315.775.9510.8826.6✪✪✪✪
ASB KiwiSaver Schemes Balanced2.3624/32-1.543.8327/316.336.542.12065.37✪✪✪
BNZ KiwiSaver Balanced2.2826/320.337.176/316.76.581.69500.58✪✪✪✪✪
BNZ KiwiSaver Moderate1.6632/320.386.3715/315.85.761.57560.53✪✪✪✪✪
Booster KiwiSaver Scheme Balanced2.3722/320.646.6610/316.696.12.01528.56✪✪✪✪
Booster KiwiSaver Scheme Socially Responsible Investment Balanced2.5119/321.339.672/317.957.061.5880.61✪✪✪✪✪
CareSaver Balanced2.4620/32-0.811.027.86
Fisher TWO Kiwisaver Balanced2.866/320.757.027/317.467.045799.89917.53✪✪✪✪✪
JUNO Balanced3.681/323.379.791/311.1426.45
Kiwi Wealth KiwiSaver Balanced2.6714/322.68.664/316.565.22✪✪✪
Mercer KiwiSaver Scheme Balanced2.1728/32-1.63.1928/315.075.63424.52✪✪✪
Mercer KiwiSaver Scheme Growth2.6813/32-2.342.6729/315.386.19120.83✪✪
Milford KiwiSaver Balanced3.274/32-1.356.2916/316.96.972.46409.43✪✪✪
Nikko AM KiwiSaver Scheme Balanced2.4121/32-31.6831/311.10.96
QuayStreet KiwiSaver Balanced2.3525/32-0.65.5622/316.175.672.01236.08✪✪✪✪
QuayStreet KiwiSaver Socially Responsible Investment2.767/32-0.566.679/315.835.241.9848.33✪✪✪
Simplicity KiwiSaver Balanced2.5618/321.18.893/317.411.29211.21✪✪✪✪
Summer Balanced Selection2.6515/32-0.466.5613/317.841.29✪✪✪✪
SuperLife 601.8831/32-3.511.7130/314.265.392315.54
SuperLife Ethica2.739/32-26.4814/316.066.652415.39✪✪
Westpac KiwiSaver Balanced2.6316/32-0.555.0526/316.346.1821643.36✪✪✪
NZ KiwiSaver: Diversified Balanced TotalSector Average1.83-2.33.655.615.54

KiwiSaver Diversified Defensive Fund

Diversified Defensive Funds invest in a mixture of asset classes but with the greater proportion of assets being invested in fixed interest securities.

NZ KiwiSaver: Diversified Defensive1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver AMP Default1372.25✪✪
AMP KiwiSaver ANZ Conservative10.35✪✪✪
AMP KiwiSaver ASB Moderate16.55
AMP KiwiSaver Income Generator4.57
AMP KiwiSaver Lifesteps AMP Conservative418.78✪✪
AMP KiwiSaver Lifesteps AMP Moderate554.29
AMP KiwiSaver Nikko AM Conservative26.28
ANZ Default KiwiSaver Conservative0.9729/341.516.415/335.234.81.931165.46✪✪✪✪✪
ANZ Default KiwiSaver Conservative Balanced1.991/340.925.928/335.45.051.9368.11✪✪✪
ANZ Kiwisaver Conservative1.321/341.526.067/334.814.451.871140.45✪✪✪✪
ANZ OneAnswer Kiwisaver Conservative1.2922/341.526.086/334.834.491.89484.86✪✪✪✪
Aon Russell LifePoints 20151.991/34-0.017.614/335.055.1510.354.47✪✪
Aon Russell LifePoints Conservative1.991/340.017.782/335.075.1410.8374.97✪✪
ASB KiwiSaver Schemes Conservative (default)1.0327/340.264.4320/334.914.951.963943.81✪✪✪✪
ASB KiwiSaver Schemes Moderate1.4912/34-1.173.3527/335.325.562.031997.44✪✪
BNZ KiwiSaver Conservative (Default)0.9630/340.494.8417/334.484.611.43841.41✪✪✪✪
Booster KiwiSaver Scheme Asset Class Conservative1.5210/34-1.441.4132/332.743.463.8222.34
Booster KiwiSaver Scheme Capital Guaranteed0.0134/34-1.050.6933/331.812.031.1463.14✪✪✪
Booster KiwiSaver Scheme Default Saver0.9131/340.435.2513/334.994.741.36100.71✪✪✪✪✪
Booster KiwiSaver Scheme Moderate1.4215/340.685.7910/335.525.151.91188.96✪✪✪
CareSaver Conservative1.0327/340.851.032.33
Fisher KiwiSaver Conservative1.587/340.585.115/335.215.111.78939.55✪✪✪✪
Fisher TWO KiwiSaver Cash Enhanced1.4912/341.015.3311/335.165.191.93702.85✪✪✪✪✪
Fisher TWO KiwiSaver Conservative1.568/340.564.9316/335.365.312.02163.14✪✪✪✪
Generate KiwiSaver Scheme Conservative1.1626/34-2.465.2912/336.215.921.47399.39✪✪✪
JUNO Conservative1.66/341.175.1814/331.0813.91
Kiwi Wealth KiwiSaver CashPlus0.4332/340.983.2828/333.113.09130.31✪✪✪✪✪
Kiwi Wealth KiwiSaver Conservative1.894/342.537.743/335.434.67794.18✪✪✪
Kiwi Wealth KiwiSaver Default1.3120/341.425.89/335.064.76258.76✪✪✪✪
Lifestages Kiwisaver Capital Stable1.2224/34-0.282.6330/333.263.293.09137.48✪✪
Lifestages Kiwisaver Income0.2833/340.413.8224/332.851.15101.71✪✪
Mercer KiwiSaver Scheme Conservative1.3717/340.174.6118/334.564.781130.73✪✪✪
Mercer KiwiSaver Scheme Moderate1.559/34-0.583.6826/334.544.93149.84✪✪
Milford KiwiSaver Conservative1.4614/34-1.164.3421/335.075.361.85181.08✪✪✪
Nikko AM KiwiSaver Scheme Conservative1.825/34-0.933.7525/331.120.28
QuayStreet KiwiSaver Conservative1.3318/340.134.0923/334.924.961.8795.83✪✪✪✪✪
QuayStreet KiwiSaver Income1.5210/34-2.262.0531/334.495.091.16251.53✪✪✪
Simplicity KiwiSaver Conservative1.1825/341.657.851/336.031.23126.94✪✪✪✪✪
SuperLife 301.3219/34-2.393.0229/334.374.981737.84
Westpac KiwiSaver Conservative1.3816/340.014.3122/334.824.71.852807.73✪✪✪
Westpac KiwiSaver Default1.2623/340.284.4619/334.774.631.34305.28✪✪✪
NZ KiwiSaver: Diversified Defensive TotalSector Average1.32-0.853.44.34.17

KiwiSaver Diversified Flexible Fund

Diversified Flexible Funds invest in a mixture of asset classes but continually change the assets that their greater proportion of assets will be invested in.

NZ KiwiSaver: Diversified Flexible1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver Global Multi-Asset12.47
BNZ KiwiSaver First Home Buyer0.691/10.473.561/13.61.2190.9
NZ KiwiSaver: Diversified Flexible TotalSector Average0.35-3.13-0.352.22

KiwiSaver Diversified Growth Fund

Diversified Growth Funds invest in a mixture of asset classes. Such a mix will generally include two or more of - equities, fixed interest securities, property, hedge funds and structured products, as well as cash.  They will generally target a larger percentage of exposure towards equities investing a minimum of 60% of assets within equities and the remainder in a combination of fixed interest securities, property, hedge funds and structured products.

NZ KiwiSaver: Diversified Growth1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver ANZ Growth23.94
AMP KiwiSaver ASB Growth22.36
AMP KiwiSaver Lifesteps AMP Aggressive343.76
AMP KiwiSaver Lifesteps AMP Growth774.32✪✪
AMP KiwiSaver Nikko AM Growth19.18
ANZ Default KiwiSaver Growth4.14/31-1.284.9220/306.696.62165.28✪✪
ANZ Kiwisaver Growth4.14/31-1.284.9319/306.696.612.143225.02✪✪
ANZ OneAnswer KiwiSaver Balanced Growth3.415/31-0.445.5717/306.436.242.14521.73✪✪✪
ANZ OneAnswer Kiwisaver Growth4.113/31-1.274.9518/306.736.672.17441.14✪✪✪
Aon KiwiSaver Milford Active Growth3.7410/31-3.046.2912/308.478.273.89148.46✪✪✪✪
Aon KiwiSaver Nikko Balanced2.3729/31-3.130.9427/305.586.0720.4510.3✪✪✪
Aon Russell LifePoints 20452.9224/31-1.525.9815/306.747.1110.0819.07✪✪✪
Aon Russell LifePoints Growth3.0421/31-1.825.8916/306.727.110.645.82✪✪✪
ASB KiwiSaver Schemes Growth2.9423/31-3.062.3125/306.477.022.083203.8✪✪✪
BNZ KiwiSaver Growth2.9922/310.37.987/307.797.541.83702.57✪✪✪✪✪
Booster KiwiSaver Scheme Asset Class Growth3.2816/31-5.26-1.829/303.084.148.9174.42
Booster KiwiSaver Scheme Balanced Growth3.1417/310.617.3410/307.917.12.02348.89✪✪✪✪✪
Booster KiwiSaver Scheme Geared Growth5.182/31-1.528.465/309.778.792.5591.84✪✪✪
Booster KiwiSaver Scheme High Growth3.6812/310.547.839/308.047.331.81385.86✪✪✪
Booster KiwiSaver Scheme Socially Responsible Investment Growth3.917/312.2913.482/3010.4792.295.7✪✪✪✪✪
CareSaver Growth3.769/31-0.571.0616.94
Fisher KiwiSaver Growth3.898/310.747.938/309.118.562.462177.13✪✪✪✪✪
Fisher TWO KiwiSaver Growth3.0620/31-0.126.0714/307.557.332.05545.41✪✪✪✪✪
Generate KiwiSaver Scheme Focused Growth2.4528/31-3.798.196/309.548.131.89879.34✪✪✪✪
Generate KiwiSaver Scheme Growth2.0431/31-5.136.0813/308.697.771.78684.73✪✪✪✪
JUNO Growth6.211/313.6315.891/301.25116.01
Kiwi Wealth KiwiSaver Growth3.4513/312.469.33/307.475.491604.47✪✪✪
Lifestages Kiwisaver High Growth3.946/31-3.452.4523/306.21.35162.99✪✪
Mercer KiwiSaver Scheme High Growth3.0719/31-2.752.4523/305.986.8196.39✪✪
Milford KiwiSaver Active Growth3.7410/31-3.174.8821/308.488.333.911596.78✪✪✪✪
Nikko AM KiwiSaver Scheme Growth2.6127/31-2.882.0826/301.13.66
QuayStreet KiwiSaver Growth2.8425/31-1.136.3311/306.886.152.1243.81✪✪✪✪
Simplicity KiwiSaver Growth3.4214/310.358.914/308.381.37818.8✪✪✪✪
SuperLife 1002.6326/31-6.52-1.9630/303.585.181580.24
SuperLife 802.2730/31-5.28-0.3928/303.835.321524.26✪✪
Westpac KiwiSaver Growth3.1417/31-1.864.1722/306.796.762.061571.21✪✪✪
NZ KiwiSaver: Diversified Growth TotalSector Average2.67-3.633.226.446.3

KiwiSaver Equity - Australasia Fund

Equity Australasia Funds invest the majority of their assets in Australian and New Zealand equities.

NZ KiwiSaver: Equity - Australasia1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver Australasian Shares5.44
ANZ OneAnswer Kiwisaver Australasian Share3.543/3-0.6110.521/314.4212.732.4641.34
Booster KiwiSaver Scheme Trans-Tasman Share4.481/3-3.831.963/39.898.491.829.64
QuayStreet KiwiSaver Altum3.552/3-0.124.92/36.816.731.4964.29
NZ KiwiSaver: Equity - Australasia TotalSector Average2.94-4.762.679.548.02

KiwiSaver Equity - Australia Fund

Equity Australia Funds invest the majority of their assets in Australian equities.

NZ KiwiSaver: Equity - Australia1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
QuayStreet KiwiSaver Australian Equity2.078/8-9.89-7.595/81.261.931.4351.15
Summer Australian Equities4.846/8-6.54-6.343/83.121.18
SuperLife Australian Dividend ETF5.953/8-4.18-7.626/80.7998.2
SuperLife Australian Financials ETF5.255/8-16.66-18.398/8-4.16931.51
SuperLife Australian Mid Cap ETF7.742/8-0.58-0.471/85.027.31600.45
SuperLife Australian Resources ETF8.651/87.04-1.282/813.451715.85
SuperLife Australian Shares5.34/8-8.14-8.397/82.834.111315.75
SuperLife Australian Top 20 ETF3.417/8-8.92-7.44/83.631173.99
NZ KiwiSaver: Equity - Australia TotalSector Average4.89-3.27-4.243.483.81

KiwiSaver Equity - Global Fund

Equity Global Funds invest the majority of their assets in global equities.

NZ KiwiSaver: Equity - Global1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver International Shares4.61
AMP KiwiSaver Passive International Shares4.94
ANZ OneAnswer Kiwisaver International Share5.472/141.9613.423/1411.039.712.3655.27✪✪✪✪
ANZ OneAnswer Kiwisaver Sustainable International Share6.451/149.8929.651/1415.4210.752.5412.48✪✪✪✪✪
Booster KiwiSaver Scheme International Share4.445/143.3311.995/148.527.582.3116.16✪✪✪
Fisher TWO KiwiSaver Equity4.874/141.0510.426/1410.569.225524.33163.83✪✪✪✪
Mercer KiwiSaver Scheme Shares3.719/14-2.114.0613/147.017.5129.42✪✪
Nikko AM KiwiSaver Scheme Global Shares1.8612/142.3213.384/141.331.01
QuayStreet KiwiSaver International Equity3.3710/14-0.3910.087/148.456.932.26311.34✪✪✪✪
Summer Global Equities5.123/144.4220.272/1411.721.56✪✪✪✪✪
SuperLife Overseas Shares1.5213/14-0.86.3212/147.366.761911.02✪✪
SuperLife Overseas Shares Currency Hedged3.0611/14-7.04-3.8214/140.463.091820.53
SuperLife Tot World ETF1.4314/14-0.328.178/148.131324.49✪✪
Westpac Kiwisaver Capital Protection Plan 34.366/14-0.236.7811/148.2982.4616.01✪✪✪
Westpac Kiwisaver Capital Protection Plan 44.366/14-0.226.8110/148.318.012.5423.03✪✪✪
Westpac Kiwisaver Capital Protection Plan 54.366/14-0.216.829/148.318.022.2118.77✪✪✪
NZ KiwiSaver: Equity - Global TotalSector Average3.43-1.097.748.287.57

KiwiSaver Equity - New Zealand Fund

Equity New Zealand Funds invest the majority of their assets in New Zealand equities.

NZ KiwiSaver: Equity - New Zealand1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
QuayStreet KiwiSaver New Zealand Equity3.673/70.698.732/714.3614.523.2397.13
Summer New Zealand Equities1.716/7-2.494.653/713.121.43
SuperLife NZ Dividend ETF1.117/7-11.54-9.747/74.291494.04
SuperLife NZ Mid Cap ETF4.961/7-8.1-1.776/710.821856.88
SuperLife NZ Shares3.354/7-6.92-1.525/77.0611.072792.26
SuperLife NZ Top 10 ETF2.615/70.1214.021/715.531998.77
SuperLife NZ Top 50 ETF3.772/7-6.361.924/711.7912.691861.2
NZ KiwiSaver: Equity - New Zealand TotalSector Average3.02-4.772.3910.2711.73

KiwiSaver Equity - Regional Fund

Equity Regional Funds invest the majority of their assets in a pre-specified region.

NZ KiwiSaver: Equity - Regional1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
Nikko AM KiwiSaver Scheme Core Equity2.421/4-3.265.651/41.190.83
SuperLife Asia Pacific ETF2.332/41.614.442/44.51186.95
SuperLife Emerging Markets-1.954/4-8.29-2.844/41.622.091071.23
SuperLife Europe ETF1.773/4-5.89-1.443/41.721009.55
NZ KiwiSaver: Equity - Regional TotalSector Average1.13-0.515.153.57

KiwiSaver Fixed Int - Global Fund

Fixed Interest Global Funds invest the majority of their assets in global fixed interest securities.

NZ KiwiSaver: Fixed Int - Global1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver International Fixed Interest1.28
ANZ OneAnswer Kiwisaver International Fixed Interest0.416/62.277.511/64.544.061.913.47
Nikko AM KiwiSaver Scheme Option2.591/6-25.41-36.466/60.650.59
Summer Global Fixed Interest1.032/60.246.522/64.091.1
SuperLife Income0.74/6-0.185.184/64.264.351414.69
SuperLife Overseas Bonds0.83/6-0.165.763/64.114.412115.74
SuperLife Overseas Non-Government Bonds0.695/6-2.054.165/63.153.622129.13
NZ KiwiSaver: Fixed Int - Global TotalSector Average0.89-3.3-0.851.83.14

KiwiSaver Fixed Int - New Zealand Dollar Fund

Fixed Interest New Zealand Funds invest the majority of their assets in New Zealand fixed interest securities.

NZ KiwiSaver: Fixed Int - New Zealand Dollar1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver New Zealand Fixed Interest4.4
ANZ OneAnswer Kiwisaver NZ Fixed Interest0.545/62.897.461/65.695.281.9610.72
Booster KiwiSaver Scheme Enhanced Income0.056/60.21.246/61.711.921.5621.12
Nikko AM KiwiSaver Scheme NZ Corporate Bond1.71/62.156.712/61.160.08
QuayStreet KiwiSaver Fixed interest0.893/61.033.995/64.164.411.41341.15
Summer New Zealand Fixed Interest1.352/61.625.144/64.861.16
SuperLife NZ Bonds0.794/61.536.113/65.325.192217.08
NZ KiwiSaver: Fixed Int - New Zealand Dollar TotalSector Average0.961.494.944.093.88

KiwiSaver Property - Global Fund

Property Global Funds invest the majority of their assets in global property such as physical property as well as property shares.

NZ KiwiSaver: Property - Global1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
AMP KiwiSaver Property5.37
ANZ OneAnswer Kiwisaver International Property0.554/4-12.03-10.12/41.311.961.368.32
Summer Listed Property3.492/4-14.74-2.691/47.931.21
SuperLife Australian Property ETF6.131/4-19.6-14.94/42.381194.03
SuperLife Property2.553/4-18.74-12.93/43.054.491619.82
NZ KiwiSaver: Property - Global TotalSector Average0.83-9.65-2.86.165.74

KiwiSaver Property - New Zealand Fund

Property New Zealand Funds invest the majority of their assets in New Zealand property such as physical property as well as property shares.

NZ KiwiSaver: Property - New Zealand1mRank3m1YrRank3Yr5YrExit PriceFund SizeStar Rating
ANZ OneAnswer Kiwisaver Australasian Property4.581/2-16.72-3.362/28.668.592.1727.04
SuperLife NZ Property ETF4.082/2-13.94-1.251/211.031504.73
NZ KiwiSaver: Property - New Zealand TotalSector Average4.32-15.34-2.3898.78

Data and quantitative star ratings displayed sourced from FE Fundinfo

Performance Methodology

Performance is calculated with all figures rounded to four decimal places on an 'Exit to Exit' price basis, assuming investors are long term investors, with all distributions reinvested at ex-distribution prices. statistics are structured so similar type funds are grouped together with an appropriate asset class index. Fund performances are expressed net of fees and gross of tax. All performance returns for periods over one year are annualised.

Star Rating Methodology

Star ratings are a comparison between funds investing in assets with similar characteristics using a return measure that has been adjusted for risk. The star ratings are purely quantitative and use the most recent 36 months of performance data. The funds in a sector are ranked according to their risk-adjusted return. The top and bottom 15% earn 5 stars and 1 star respectively, the next top and bottom 20% earn 4 stars and 2 stars, and the middle 30% earn 3 stars. In this way the variability of performance return is considered. So where two funds in the same sector earn similar returns, but one is more volatile than the other, the more volatile fund is likely to get a lower star rating than the other. Alternatively, where two funds have similar volatility but one earns higher returns than the other, the fund with the higher return is likely to get a higher star rating.

Investment entities with less than a three year history have no rating. Funds in sectors with less than 10 constituents are not rated. Star ratings do not include any qualitative analysis. While it is helpful to consider how volatile a fund has been in the past, it is also important to consider more forward looking qualitative
elements such as analysis of the portfolio manager and the process they use in managing a fund.

Disclaimer: Performance shown is on an after fees, before tax basis, and distributions are assumed to be reinvested. Where available, tax credits are added back into the fund’s unit price for the period specified. Performance returns over one year have been annualized. Australian fund returns are in NZ dollar terms but Australian fund exit prices are in A$ as are fund sizes. The exit price shown is that applicable on the last market day of the month. The standard deviation reflects the volatility of a unit’s price over the previous three years by showing how widely the range of returns for the unit varies for the denoted point in time, but also reflect the fact that the fund manager was not able to send us data in time for the report.

Past performance is not necessarily a guide to future performance. Any representation or statement expressed in this document is made in good faith on the basis that Zenith Investment Partners NZ LTD is not able to be liable of such representation or statement. Zenith Investment Partners NZ LTD does not guarantee the accuracy of third-party information used to calculate investment returns. This information should not be relied upon as a substitute for detailed advice from a professional financial adviser.

These reports are intended for New Zealand clients residing in New Zealand only and must not be accessed or viewed by any person or entity outside of New Zealand.

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