How has the fund performed?
Performance as at 31 March 2026
Rate | |
|---|---|
3 months | -2.20% |
1 year | 11.24% |
3 years (p.a.) | 8.43% |
5 years (p.a.) | 5.13% |
10 year (p.a.) | 7.61% |
Since launch (p.a.) | 6.97% |
Performance is after the annual fund charge and before tax. KiwiSaver rates, fees and agreements.
What happened this quarter (three months to 31 March 2026)
The fund has a large allocation to share markets, which were volatile over the period. Early in the quarter, optimism supported markets, with several overseas share markets reaching record highs. However, conditions weakened later in the period as global uncertainty increased. Rising geopolitical tensions, including conflict involving the US, Israel and Iran, unsettled investor confidence and led to a pull‑back in share prices.
International share markets generally declined as investors became more cautious. New Zealand shares also fell, largely reflecting developments offshore. Company earnings results were mixed, with some businesses continuing to perform well, while others faced softer demand and higher costs.
The fund also holds a small allocation to bonds. Bond markets had a difficult quarter and did not provide their usual stability, as higher oil prices raised concerns that inflation could increase again. This led investors to reassess the outlook for interest rates, which put pressure on bond prices.
Following a strong start to the year, the weakness across share and bond markets led to negative returns over the quarter. However, benefiting performance was good company selection within our international shares, property and listed infrastructure investments.
Looking ahead, markets are likely to remain unsettled while global uncertainty persists. However, periods like this can also create opportunities. We currently favour US shares over European shares, as the US economy and company earnings appear more resilient, while European markets face greater exposure to energy‑related pressures. We continue to take a disciplined approach to portfolio positioning to ensure the fund remains well placed for long‑term growth.
Overall, we remain focused on maintaining a diversified growth‑oriented portfolio. While short‑term market movements can be uncomfortable, the fund is designed to deliver higher long‑term returns for investors who are comfortable with greater ups and downs along the way.
For more information on investment markets
How the fund has performed over time
The fund aims to achieve (after the fund charge and before tax) over the long term high returns, allowing for large ups and downs in value.
The graph below shows the value of a $1,000 investment made at the time the fund launched.
Performance is after the annual fund charge and before tax. KiwiSaver rates, fees and agreements.
What does the fund invest in?
The fund invests mainly in growth assets (Australasian equities and international equities), with a small exposure to income assets (cash and cash equivalents and fixed interest). The fund may also invest in alternative assets.
This graph shows the mix of assets that the fund generally intends to invest in.
See the fund's actual investment mix on page 3 of the fund update.
Important information
ANZ New Zealand Investments Limited (‘ANZ Investments’) is the issuer and manager of the ANZ KiwiSaver Scheme, the OneAnswer KiwiSaver Scheme and the ANZ Default KiwiSaver Scheme (no longer a default scheme and closed to new members). For the scheme guides and product disclosure statements see KiwiSaver documents and forms or ask at any ANZ branch.
This material is for information purposes only. Please talk to us if you need financial advice about your situation and goals or about our products and services. See our Financial advice provider disclosure statement (PDF 39.9KB).
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.