KiwiSaver NZ investment mix varies widely
A new report reveals which KiwiSaver funds have the most money invested in New Zealand, with the share of local investments ranging from 1 to 100 per cent.
Conservative and cash funds had the most money invested in New Zealand assets because of their heavy cash and fixed interest investments, while share-heavy aggressive funds and property funds had the least.
Of the six big conservative default funds, AMP's two funds had the biggest share of New Zealand investments at 80 per cent of assets - twice the weighting of ANZ-owned Onepath's conservative fund, which has 39 per cent.
Growth funds tended to have about 30 per cent New Zealand-based investments and balanced funds averaged 40 per cent.
Fund research house Morningstar gathered the figures because it thought savers would be interested to know how much different funds had invested in New Zealand.
Its quarterly performance survey shows fixed interest investments have slipped into negative territory after previously being KiwiSaver's star performers.
Funds with more money in shares were much better performers over the last year, as bonds suffered.