KiwiSaver vs investment funds

In this article, we look at both the similarities and differences between KiwiSaver and investment funds, and how they can work together to help you achieve your investment goals.

KiwiSaver and investment funds (also called ‘managed funds’) are very similar. In fact, KiwiSaver funds are actually a type of managed fund. But KiwiSaver was designed specifically to help you save for your retirement, so it has some special benefits – and also some limitations – that investment funds don’t have.


With both KiwiSaver and investment funds, your money is pooled with other investors’ money and invested in a range of assets including shares, bonds and listed property, depending on the fund you choose. You pay an annual fund charge to the fund manager, which covers all the work and expenses involved in managing the fund your money is invested in.

Both KiwiSaver and investment funds typically offer a choice of funds, each with a different mix of investments depending on your attitude to risk, investment timeframes and financial goals. Returns for both KiwiSaver and investment funds can go up and down depending on the performance of your fund.


There are three main areas of difference between KiwiSaver and investment funds:

  • Contributions.
  • Access to your money.
  • Buying your first home.

How can they help you achieve your financial goals?

While they are similar in many ways, KiwiSaver and investment funds have their own special benefits and features – so they can work together to help you achieve your goals.

For example, KiwiSaver offers benefits such as employer and Government contributions, but your money is generally locked in until age 65. If you have additional funds to invest, you may want to consider putting them in an investment fund which offers you access to your money whenever you need it, giving you greater flexibility.

Summary of key features

ANZ KiwiSaver Scheme

ANZ Investment Funds

Actively managed by our Investment Management team

Diversified (access to a wide range of investments)

Choice of funds to invest in

Add to your investment anytime

Access your money anytime

Employer and Government contributions

First home benefits

Free investment advice

The future is bright when you feel confident about your investment choices. If you need help choosing the right investment option for you, talk to one of our ANZ Investment Advisers. They can provide free advice tailored to your individual situation.

Take the first step today – call us for a free, no-obligation chat with one of our qualified Investment Advisers on 0800 269 238. See ANZ’s financial advice provider disclosure

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Important information

ANZ New Zealand Investments Limited is the issuer and manager of the ANZ KiwiSaver Scheme, ANZ Default KiwiSaver Scheme and ANZ Investment Funds. Important information is available under terms and conditions. Download the guide and product disclosure statement.

Our financial advice provider statement has some important information you should know about ANZ and our financial advice services. Please take the time to read it.