How has the fund performed?
Performance as at 31 March 2026
Rate | |
|---|---|
3 months | -2.47% |
1 year | 12.93% |
3 years (p.a.) | – |
5 years (p.a.) | – |
10 year (p.a.) | – |
Since launch (p.a.) | 8.94% |
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 is fully invested in growth assets, primarily share markets, which were volatile over the period. Early in the quarter, investor 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 broad pull‑back in share prices.
International share markets generally declined as investors became more cautious. US and European markets faced selling pressure given the risk-off environment, and although Asian markets also saw some selling, they mostly finished the quarter higher thanks to their strong start to the year. Australasian share markets also came under pressure, with both Australian and New Zealand shares declining over the quarter as global sentiment softened and local economic challenges persisted.
Property and listed infrastructure investments were also affected. Expectations that interest rates may remain higher for longer weighed on valuations, although performance varied by region and by company.
The weakness across share markets led to negative returns over the quarter. While weaker company selection within Australasian shares detracted from performance, this was more than offset by good company selection within our international shares, international property and international listed infrastructure investments.
Looking ahead, markets are likely to remain unsettled while global uncertainty persists. However, periods like this can also create opportunities. We have moved to favour US shares over European shares, reflecting stronger economic fundamentals and more resilient earnings.
Overall, the fund remains positioned for long‑term growth. While short‑term market movements can be sharp, the High Growth Fund is designed for investors who are comfortable with higher volatility in pursuit of higher returns over time.
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 higher returns, allowing for larger 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 in growth assets (Australasian equities and international equities), with a very 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.
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.