The all-singing, all-dancing 2024 edition of the Investment News NZ popular KiwiSaver annual report is now free to download.
As the ‘K-Saver 17’ study reveals, all 38 schemes made it through the 12 months to the end of March this year intact and in the black.
For the first since the 2018 report the number of schemes remained the same year-on-year – even if some names have changed – with no launches or exits during the period.
Despite the atypically calm commercial conditions, the report details a wide range of movement across schemes as incumbents battle a challenger cohort that has increased by 10 over the previous six years.
Collectively, the post-2018 start-ups – Aurora, InvestNow, Kernel, KiwiWRAP, Kōura, Nikko, Pathfinder, Pie (formerly Juno), Select (now JMI Wealth) and Sharesies – managed only $2 billion but the 2024 data shows flickers of energy for at least some of them.
In line with the general direction of travel over the last decade, the larger institution-owned KiwiSaver providers lost market share again during the 2024 period.
According to the ‘K-Saver 17’ data, the top five providers accounted for 65.6 per cent of total KiwiSaver funds under management as at March 31 this year compared to 67.2 per cent 12 months previously.
The study found all of the five largest providers – bar new entrant Milford, which ousted AMP in fifth in the 2024 rankings – gave up ground to competitors again.
As the report highlights, Milford hit the number one spot in several categories including best in flows and fees to knock out a very good year.
Click here for the full extravaganza that was KiwiSaver, aged 17.
A complete set of the data in Excel spreadsheet form, covering member and funds under management trends; fees and expenses; investment returns; scheme transfers and other metrics, is available for the K-mart-like special inflation-beating fee of $460 plus GST ($529 including GST).
Please contact the author at david@investmentnews.co.nz or ph +64 21 022 575 03 for further details.