Growth funds shine again: Morningstar

The research house has released its latest KiwiSaver survey.

“We continue to have an equity-friendly market environment with local and global equity markets posting solid returns this quarter. Fixed income assets also had reasonable performance,” Morningstar director of manager research ratings, Asia Pacific, Chris Douglas said.

“As a result, KiwiSaver funds with a bias to growth assets, posted the strongest returns, but there was a closer dispersion of returns across the risk profiles than previous quarters.”

The local share market performed slightly better in the second quarter of the year than in the first, he said. The S&P/NZ 50 Index was up 5.8% in total returns over the quarter and 10.6% over the year.