KiwiSaver down: rainy quarter ruins rosy returns

KiwiSaver down: rainy quarter ruins rosy returns
The Pie Funds-owned Juno KiwiSaver growth option turned in horror results. (Image: Getty)
David Chaplin
“Hey Dad,” my son said. “My KiwiSaver is down.”“Yeah,” I said, “join the club.”“By a lot, though,” he said.“It could get worse,” I said, by way of encouragement, “but don’t worry about it, you can’t touch your KiwiSaver [NB: some exclusions apply] for 40 years or so. A lot can happen in 40 years.”A lot can happen in a quarter, too, and it did.Or as research house Morningstar says in its latest quarterly report on the sector: “KiwiSaver funds ge...

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