Kiwisaver under the spotlight

Last updated 05:00 19/01/2013

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Two million New Zealanders are now in KiwiSaver. As part of the ongoing effort to build awareness about how your retirement savings is invested, Your Money will be randomly profiling one KiwiSaver scheme per week.

Provider: AMP, which is now co-owned with fellow default KiwiSaver provider AXA

Scheme: AMP Kiwisaver LS Growth Fund

Overview: Like other growth funds the AMP Growth fund is suited to people prepared to take higher drops in value to chase potentially greater long-term returns, with a long time frame of at least 5 to 10 years.

Its medium term objective is to outperform the weighted average return of the markets it invests in by 1.6 per cent a year, investing about three quarters of the money in growth assets - shares and property.

It has a heavy weighting to international shares versus Australasian ones when compared with other growth funds. More than half the money is invested in international shares versus an average of 40 per cent for other similar growth funds.

It has a few per cent of funds more than average invested in property - just over ten per cent of the fund in total - and nothing in infrastructure, unlike other similar growth funds, which have a sector average of 6 per cent in infrastructure.

Fund size: $158.5m as at November 30, 2012

Total return over 1 year*: 16.33 per cent versus an average for KiwiSaver diversified growth funds of 13.58 per cent.

Total return over 3 years*: 5.77 per cent versus an average for KiwiSaver diversified growth funds of 6.26 per cent.

Unit price: $1.0004

Fees: $36 a year plus management and trustee fees per cent of up to 1.075 per cent of fund balance.

* After fees but before tax

KiwiSaver spotlight was written using information from FundSource, and the information is considered general in nature. Please consult a professional adviser before any investment decisions.

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- The Dominion Post

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