I recently looked at my latest KiwiSaver update. I am with a provider (in an active growth fund) that has won a few awards and consistently advertises that it has the best long-term returns.

As part of this update, it provides returns across a raft of time periods as well as comparisons with key indexes.

Interestingly, the S&P/NZX 50 Gross Index has outperformed this fund in the short and long term. Is this surprising?

Given my KiwiSaver provider has consistently received awards for its performance, I am surprised and disappointed that most funds would be delivering less than an index fund.

It's great — at least in principle — to see KiwiSaver providers showing their investors how well they have performed compared to an index.

In active growth funds like yours, the managers choose which


Big returns


Planning ahead

Property or shares?

Win some, lose some