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Understanding performance and fees

The benefits of scale

We're New Zealand's largest KiwiSaver scheme manager - our size and scale means we can deliver even better value for your hard-earned savings. That's why from 1 April 2019, we've reduced your KiwiSaver membership fee by 25% (from $2 per month to $1.50 per month), and removed membership fees completely for members under 18. 

How we charge fees

When it comes to fees, we have a straightforward approach. You pay fees in two ways – and these cover everything that’s involved in the management of your investment.

  • Membership fee: This is a flat fee of $1.50 a month (or $18 a year) for members aged 18 and over. It helps to pay for the day-to-day administration of your KiwiSaver account. It’s deducted from your KiwiSaver account every month. There is no membership fee for members under 18.
  • Annual fund charge: This is a percentage amount based on the fund (or funds) you’ve chosen to invest in. Importantly it pays for the investment management of that fund – that is the skills and expertise of our investment team who carefully manage the money you have invested. It also pays for the supervision of our scheme by an independent third-party, and our regular communications to you. It’s calculated daily and is worked out from the unit price of the fund.

Costs, fees and taxes are also deducted from the funds.

What your fees pay for

  • Our ‘active’ investment management approach. Our investment team carry out a high level of research and analysis in their pursuit of delivering above-average long term returns for our members. It’s a proven process, with diverse international reach when it comes to finding what we believe are the best investments for our funds.
  • Our hands-on approach to responsible investing.
  • Ability to view and transact on your KiwiSaver account online and via your mobile phone, putting you in control of your retirement savings.
  • Regular information and updates delivered directly to your inbox, and access to tools and information on our website to help with your investment decisions.

See our article on fees if you've been wondering what your fees pay for?

For more information about our fees, see the guide and product disclosure statement for the KiwiSaver scheme you belong to:

What affects your savings?

Your savings can go up or down because of the investment performance of your fund. Investment performance reflects the gains or losses made when the assets which our funds invest in change in value or earn income. 

For more information see: 

Comparing ANZ’s performance with that of other scheme providers

With multiple scheme providers all offering different types of funds, it’s important to make sure you’re making the right comparisons.

Here’s some things to take into account:

  • Make sure you compare apples with apples by assessing similar fund types (e.g. compare a balanced funds with other balanced funds)
  • Don’t just look at fees on their own – while funds with lower fees may leave a few more dollars in your account each month, it says nothing about what they can deliver you in performance over the longer term, or their ability to navigate the ups and downs in markets
  • While fees are an important factor, they shouldn't be the only consideration. Look at the scheme provider’s long term performance after fees, as this is one of the primary factors that’ll determine how much money you have in your KiwiSaver account at retirement. Choosing a fund solely on fees means you may miss out on greater returns and a bigger balance in your KiwiSaver account at retirement.
  • Remember that past performance isn’t a guarantee of future performance, and that funds which have performed well in the past may not do so again in the future.

Our track record speaks for itself, recognised through the many awards / external recognition we’ve received.

For more information

Comparing KiwiSaver schemes and funds can be a time-consuming business. However, there are a number of online resources that can help you make useful comparisons. We suggest you try:

  • Market review - a summary of how the funds you're invested in have performed.
  • ANZ’s website - includes current and historic unit prices, fund performance, actual investment mix reports, fund updates, our guide and product disclosure statement and information about fees .
  • Sorted website - in particular the KiwiSaver fund finder tool, which compares total fees (fund fees and membership fees), returns and services.

If you'd like to discuss this in more detail, you can call our team of ANZ Financial Advisers on 0800 269 238, email wealthdirect@anz.com, or speak to your own financial adviser. An ANZ Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008.

For further information, please see the relevant guide and product disclosure statement:

The guide and product disclosure statements are available by calling 0800 736 034. The ANZ KiwiSaver Scheme guide and product disclosure statement are also available from any ANZ branch.

Issuer and manager: ANZ New Zealand Investments Limited (‘ANZ Investments’) is the issuer and manager of the ANZ KiwiSaver Scheme and the ANZ Default KiwiSaver Scheme.

Investments are not deposits in ANZ Group: Investments in the ANZ KiwiSaver Scheme or the ANZ Default KiwiSaver Scheme are not deposits in ANZ Bank New Zealand Limited,  Australia and New Zealand Banking Group Limited, or their subsidiaries (together 'ANZ Group'), nor are they liabilities of ANZ Group. ANZ Group does not stand behind or guarantee ANZ Investments. Investments are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group will not be liable to you for the capital value or performance of your investment.

No guarantee: Investments in the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme are not guaranteed by ANZ Group, any of its directors, or any other person.

For information only: This website has been provided for information purposes only and is subject to change. The content of this website is intended to be of a general nature and does not take into account an investor’s, or potential investor’s, financial situation, investment objectives, or risk tolerance.

Not investment advice: This website is not intended to constitute, does not constitute, and should not be construed as constituting, investment advice nor is it a substitute for commercial judgment or other professional advice. Investors, or potential investors, should: (i) conduct independent due diligence on any investments; and (ii) obtain independent investment and professional advice, including tax advice, prior to acting in reliance on this website.

For specific investors only: This website is intended for investors who understand the investment risks referred to on it. Some, or all, of the investments mentioned on this website may not be suitable for certain investors. Investors, or potential investors, should consider whether: (i) an investment is appropriate for their risk profile; and (ii) they will meet the suitability requirements relating to those types of investments.

Speak to a financial adviser: This website is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. If you wish to consult a financial adviser, please call us on 0800 269 238 and we will provide you with the contact details for a financial adviser in your area. A financial adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008.

Past performance: Past performance does not indicate future performance. The actual performance any given investor realises will depend on many things, is not guaranteed and may be negative as well as positive.

How performance is calculated: Except for in the quarterly KiwiSaver fund updates (in which investment performance is calculated after fees and at a 28% prescribed investor rate), performance is after annual fund charges, and before tax and membership fees. The funds in respect of products mentioned on this website are portfolio investment entities (PIEs). Performance for funds operating before they became PIEs on 1 October 2007 has been recalculated to be on the same (pre-tax) basis. Returns for all periods longer than 1 year are annualised.

Unit prices: The unit price is calculated in accordance with the applicable governing document (each as amended, added to or replaced) for the ANZ KiwiSaver Scheme and ANZ Default KiwiSaver Scheme. The actual unit price that applies at the time a transaction request is received and accepted may differ from the unit price shown.