ANZ KiwiSaver Scheme High Growth Fund

The High Growth Fund aims for higher long-term returns, allowing for larger ups and downs in value.

This fund could suit investors focused on building their KiwiSaver savings over the long term, who are comfortable with significant changes in value along the way and don’t expect to access their savings for many years.

Minimum suggested investment timeframe is 9 or more years. The minimum suggested timeframe indicates how long to stay invested to manage short-term ups and downs and give your investment time to recover from any drops in value.

The risk indicator for this fund is 5, on a scale from 1 (low) to 7 (high). The rating reflects how much the value of the fund’s assets goes up and down (volatility). A higher risk means higher potential returns over time, but more ups and downs along the way.

The fund is almost fully invested in growth assets, making up more than 90% of its investments. Share markets had a strong quarter, rebounding from a challenging start of the year. The rebound was supported by a combination of resilient corporate earnings and a stabilisation in geopolitical tensions in the Middle East – although these remained an ongoing source of uncertainty.

In the US, the S&P 500 Index rose 15.2%, while the Nasdaq 100 Index gained 21.6%, supported by continued strength in technology and AI‑related stocks. European equity markets also moved higher, though performance was more mixed across the region. The Euro Stoxx 50 Index rose 15.2%, supported by the easing of geopolitical tensions and its reliance on energy flows through the Strait of Hormuz. In contrast, UK equities lagged, with the FTSE 100 Index rising just 4.0%, weighed down by softer growth momentum and a more challenging domestic political and economic backdrop.

Asian markets were among the strongest performers globally, with several indices delivering outsized gains. Japan’s Nikkei 225 Index surged 37.4%, supported by strong corporate earnings and continued investor inflows, while South Korea’s KOSPI Index rose 67.7%, driven by strength in semiconductor and tech-related companies.

In New Zealand, the NZX 50 Index rose a more modest 5.5%. Business and consumer confidence remained weak, while ongoing inflation pressures continued to cloud the outlook for economic growth and monetary policy.

The fund's significant equity exposure was the primary driver of performance, benefiting from strong gains in share markets, especially among growth stocks – both developed and emerging markets.

Looking ahead, market volatility is likely to persist as geopolitical and inflation risks evolve. However, the fund remains well diversified and is designed to help manage risk while providing a more stable long-term investment experience.