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ASB KiwiSaver Scheme Returns to Investors

April wrap up - a soft month

After a buoyant first quarter for growth assets like shares, markets slipped backwards in April.  The US S&P 500 share market index, as an example, was down 4.2% in US dollar terms. The news wasn't any better for fixed income assets with rising long term interest rates inflicting capital losses.

Expectations of interest rate cuts by central banks were pushed out with investors almost pricing out any reduction this year in the key US Federal Reserve Official Cash Rate. It was expectations of these cuts that had fuelled the more bullish mood in the first quarter. View April's full wrap up from our investment team.

The tables below show the ASB KiwiSaver Scheme returns to investors as at 30 April 2024.

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.

Returns to investors before tax and after fees

3 months
6 months
1 year
3 years (p.a.)
5 years (p.a.)
7 years (p.a.)
10 years (p.a.)
Since Inception (p.a.)
NZ Cash Fund

1.37%
2.80%
5.71%
3.20%
2.25%
2.20%
2.43%
2.96%
Conservative Fund

1.08%
6.82%
5.08%
0.33%
1.96%
2.85%
3.84%
4.31%
Moderate Fund

1.83%
8.88%
6.87%
1.12%
2.90%
3.92%
5.05%
4.89%
Balanced Fund

2.81%
11.30%
9.37%
2.54%
4.82%
5.77%
6.87%
5.72%
Growth Fund

3.74%
13.63%
11.25%
3.78%
6.12%
7.13%
8.28%
6.24%
Aggressive Fund

4.48%
9.56%
Positive Impact Fund

2.12%
11.86%
5.82%
-1.91%
2.07%

Returns to investors after tax and fees
(assuming the highest Prescribed Investor Rate (PIR))

3 months
6 months
1 year
3 years (p.a.)
5 years (p.a.)
7 years (p.a.)
10 years (p.a.)
Since Inception (p.a.)
NZ Cash Fund

0.99%
2.00%
4.08%
2.29%
1.62%
1.58%
1.74%
2.10%
Conservative Fund

1.03%
5.68%
4.30%
0.38%
1.71%
2.40%
3.11%
3.25%
Moderate Fund

1.76%
7.81%
6.06%
1.02%
2.56%
3.39%
4.27%
3.77%
Balanced Fund

2.72%
10.29%
8.49%
2.21%
4.29%
5.09%
5.96%
4.53%
Growth Fund

3.59%
12.70%
10.26%
3.22%
5.42%
6.31%
7.27%
5.00%
Aggressive Fund

4.29%
9.09%
Positive Impact Fund

1.99%
10.83%
4.63%
-1.95%
1.74%

The returns are calculated on the assumption that all foreign tax credits are fully utilised by the investor.

  1. Contributions were first invested into the funds on 2 October 2007 (except for the Positive Impact Fund and Aggressive Fund). Contributions were first invested into the Positive Impact Fund on 26 July 2019 and into the Aggressive Fund on 22 November 2023.
  2. 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.
  3. Since 7 September 2012, the cash portion of each fund has been managed using an active investment management style. The returns in previous periods reflect an index tracking investment management style for cash.
  4. Prior to 1 April 2011, the management fee was calculated and incorporated into the unit price daily, and deducted from the relevant fund monthly. From 1 April 2011, the management fee has not been incorporated into the unit price or deducted from the fund, but deducted from members accounts monthly. In order to display returns pre and post 1 April 2011 on a comparable basis, the management fee has been factored back in to the returns for the periods from 1 April 2011.
  5. A monthly administration fee of $2.50 applied until 28 September 2021 and is excluded from the calculation of the returns disclosed.

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).

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