The numbers are in.
KiwiSaver moved up another level during the 12 months to the end of March 2021 with strong growth in funds under management (FUM) adding some $20 billion to the collective savings pot.
According to the just-released Investment News NZ KiwiSaver annual report – the 14th in the series – the 12-month period proved particularly upbeat for a handful of nimble, fast-growing local providers.
The ‘KiwiSaver @Level 14’ study reveals the larger institution-owned schemes have once again lost ground to challengers with the five-fattest providers market share by both membership and funds under management easing over 2 per cent year-on-year.
Since the 2014 reporting period, in fact, the top five providers have seen their total market share slide more than 10 per cent from a peak of over 75 per cent.
As the report notes, the relative success of smaller, new-entrant brands and the growing pool of assets under management – pushing $82 billion at the end of March – has encouraged a rush of start-up schemes to jump in over the last few years.
From the end of March 2018, eight new KiwiSaver schemes have launched (including four since September 2020) bringing the total universe to 37, of which 36 reported during the latest annual period.
For further details of scheme trends covering FUM, membership, fees and performance click here for your FREE copy of ‘KiwiSaver @Level 14’.
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 environmentally sustainable fee of $400 plus GST ($460 including GST).
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