Kiwisaver funds leech $2b on global turmoil

New Zealanders' retirement funds shrank this past quarter. (Image: Getty)

Mon, 30 Oct 2023

KiwiSaver investors shed $2 billion to funds under management of $96.3b during the three months to September, as average multisector funds produced negative returns for the quarter.While Conservative funds held out better against their more aggressive peers, it still wasn't good news for retirement nest eggs, as markets fell on the back of higher global interest rates, repricing in bond markets and geopolitical issues, including Middle East tension and higher oil prices.Morningstar's quarterly report shows average returns from multisect...

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