ASB KiwiSaver Scheme - Fund performance

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Top returns help your balance grow. Low fees help you keep more of it.

The ASB KiwiSaver Scheme ranked first for 12 month returns in Conservative and Moderate fund categories (Morningstar, December
2025). Plus, our fees are at least 33% below the industry average, and we don't charge administration or performance fees.*

What's a performance fee? Some providers charge an extra fee when your fund performs well. We don't. We believe top returns
should benefit you, not cost you more.

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Fund returns

The tables below show the ASB KiwiSaver Scheme returns to investors as at 31 January 2026. Click to expand.

Assuming the highest Prescribed Investor Rate (PIR). The returns are calculated on the assumption that all foreign tax credits are fully utilised by the investor.

	1 month	3 months	6 months	1 year	3 years (p.a.)	5 years (p.a.)	10 years (p.a.)	Since Inception (p.a.)
NZ Cash Fund	0.13%	0.41%	0.97%	2.25%	3.31%	2.39%	1.81%	2.17%
Conservative Fund	-0.04%	-0.22%	3.20%	5.52%	5.85%	2.59%	3.49%	3.58%
Moderate Fund	-0.28%	-0.55%	4.13%	6.62%	7.51%	3.72%	4.74%	4.22%
Balanced Fund	-0.59%	-0.88%	5.30%	7.83%	9.79%	5.56%	6.65%	5.11%
Growth Fund	-0.88%	-1.18%	6.51%	9.12%	11.62%	7.26%	8.18%	5.71%
Aggressive Fund	-1.22%	-1.50%	7.38%	10.08%				15.98%

	1 month	3 months	6 months	1 year	3 years (p.a.)	5 years (p.a.)	10 years (p.a.)	Since Inception (p.a.)
NZ Cash Fund	0.19%	0.58%	1.35%	3.13%	4.63%	3.34%	2.52%	3.06%
Conservative Fund	0.12%	-0.08%	3.92%	7.06%	7.17%	3.07%	4.23%	4.70%
Moderate Fund	-0.05%	-0.34%	4.85%	8.19%	8.77%	4.27%	5.54%	5.38%
Balanced Fund	-0.28%	-0.54%	6.03%	9.43%	11.00%	6.25%	7.56%	6.33%
Growth Fund	-0.47%	-0.70%	7.26%	10.77%	12.80%	8.09%	9.20%	6.97%
Aggressive Fund	-0.73%	-0.86%	8.17%	11.81%				17.31%

Returns are a reflection of past performance and are not a guarantee or indication of future performance because returns fluctuate (move up and down). Returns can be negative and you may receive back less than the total amount of your contributions.

Investing excellence

ASB nominated as finalist in 2026 Morningstar Awards for Investing Excellence in New Zealand.

- Overall Fund Manager of the Year
- Fund Manager of the Year, KiwiSaver

"It's fair to say that 2025 was a challenging year to navigate. There were inflation surprises, geopolitical uncertainty, and growth uncertainty. Compounded by a market displaying valuations disconnected from fundamentals, it made it a challenging year, even for the best investors. Despite this, our nominated fund managers demonstrated an ability to deliver quality, high-performing investments and have stood above peers with exceptional returns over the longer term."

- Matt Olsen, Morningstar Australasia's Director, Manager Research

Market update

December Wrap Up – Time to reflect and look forward

December delivered a mixed bag for markets – modest gains in growth assets, slight declines in bonds, and a very strong finish overall. As we step into 2026, two key themes for investors to consider stand out: staying focused on long-term goals despite short-term noise, and rethinking personal diversification beyond local assets. Read more in the December Wrap Up.

*Based on Morningstar KiwiSaver Survey (31 December 2025). Returns shown are after fees and before tax. Past performance does not guarantee or indicate future performance; returns may vary over a fund's minimum investment timeframe and longer. Fees for each ASB KiwiSaver Scheme fund are at least 33% lower than industry average (Sorted Smart Investor, 6 November 2025, based on a $30k balance).

Important notes on fund return tables

Contributions were first invested into the funds on 2 October 2007 (except for the Aggressive Fund). Contributions were first invested into the Aggressive Fund on 22 November 2023.
The returns are calculated on the change in unit price of the units in each fund for the period, adjusted for tax credits, and are the returns on funds invested at the beginning of the period, with no subsequent contributions or withdrawals. Returns for periods greater than 1 year are annualised. Returns for periods less than 1 year are not annualised.

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme).

KiwiSaver Returns

You'll find us at the top.

Fund returns

Returns after tax and after fees

Returns before tax and after fees

Investing excellence

Market update

KiwiSaver Returns

You'll find us at the top.

Fund returns

Returns after tax and after fees

Returns before tax and after fees

Investing excellence

Market update

Join or transfer to the ASB KiwiSaver Scheme now