Morningstar’s quarterly KiwiSaver Survey is designed to help New Zealand investors assess the past performance and other key characteristics of their KiwiSaver superannuation options. The accompanying tables show KiwiSaver fund returns for the three months and one, three, five, and 10 years to 31 March 2025.

Key Takeaways

  • KiwiSaver assets increased, ending the quarter at NZD 121b, steady from the end of last year—with market drawdown being replaced by inflows. 
  • Average multisector category returns for the March quarter ranged significantly between flat for conservative and negative 3.7 percent for aggressive funds. Annual returns all ended up around even at 5–5.5% at a category level. 

Read the March Quarter 2025 report (PDF)