KiwiSavers switch out of conservative funds, FMA report shows

The FMA’s director of investment management, Paul Gregory, says it appears some members were chasing performance. (Image: FMA)

Dan Brunskill

Tue, 04 Oct 2022

New Zealanders have abandoned conservative KiwiSaver funds over the past year as the capital value of bonds has plummeted. An annual report released by the Financial Markets Authority today shows the number of members in a conservative fund has fallen by roughly 30,000 in the past five years. The number of members in a growth fund has grown by more than 55% – to 1.5 million – in the same period. In the year ended March 2022, a net $810 million flowed out of conservative funds as 160,000 users chose to switch. Growth f...

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