Despite recent accusations of fee gouging and low returns, default providers, at least a handful of them, have been generating consistent returns since inception.
After fees, three-year returns (ending Sept.30, 2011) put Mercer, OnePath and Axa at the head of the class with their conservative funds delivering 6.3% per annum, 5.5% and 5.0 % respectively.
Among the aggressive funds, Milford Asset Management and Fisher Funds dominated with 3-year returns of 9.5%, 8.4% respectively per annum. Although the most recent year has been a bumpy one, gains from earlier years have helped smooth out the bumps.
Relative to their peers, conservative funds, have also put in a respectable performance largely due to exposure to fixed interest bonds in a falling interest rate environment. Among the top five ranked, the returns ranged from 6.9% to 4.9% per annum over three years. By comparison, growth funds ranged from 5.0% to 3.9%.
Across all category of funds, Mercer, OnePath and SuperLife were stands-out with multiple top place finishings.
The top 5 performers over 3 years in the multisector fund categories are given below.
To see a full list of funds, including single sector funds, and their performance rankings click here.
The returns are interest.co.nz's adjusted returns (i.e. after fees and expenses) given on a per annum basis over the 1, 2 and 3 years to September 30 2011.
The number after the fund category is the total number of funds in that category.
| Default (6) |
3 yr
|
Rank |
2 yr
|
Rank |
1 yr
|
Rank |
| Mercer Conservative |
6.3
|
1 |
5.1
|
2 |
3.0
|
3= |
| OnePath Conservative |
5.5
|
2 |
5.6
|
1 |
4.4
|
1 |
| AXA Income Plus |
5.0
|
3 |
3.9
|
5 |
1.7
|
6 |
| ASB Conservative |
4.9
|
4 |
4.5
|
3 |
3.0
|
3= |
| Tower Cash Enhanced |
4.4
|
5 |
4.3
|
4 |
3.4
|
2 |
|
|
|
|
||||
| Aggressive (21) |
3 yr
|
Rank |
2 yr
|
Rank |
1 year
|
Rank |
| Milford |
9.5
|
1 |
5.4
|
1 |
3.3
|
1 |
| Fisher Funds Growth |
8.4
|
2 |
2.9
|
7 |
-4.5
|
14 |
| OnePath SIL Growth |
2.5
|
3 |
3.7
|
2 |
0.2
|
3 |
| OnePath Growth |
2.3
|
4 |
3
|
6 |
1.8
|
2 |
| Brook Professional Growth |
2.2
|
5 |
0.1
|
14 |
-1.7
|
9 |
|
|
|
|
||||
| Growth (37) |
3 yr
|
Rank |
2 yr
|
Rank |
1 yr
|
Rank |
| Aon OnePath Balanced |
5.0
|
1 |
5.1
|
2 |
1.1
|
8 |
| SuperLife AIM 60 |
4.1
|
2= |
4.1
|
8= |
-0.7
|
22 |
| Westpac Balanced |
4.1
|
2= |
4.3
|
5= |
2.5
|
1= |
| Mercer Balanced |
4.0
|
4 |
3.8
|
13 |
1.0
|
9= |
| Mercer Super Trust Active Balanced |
3.9
|
5 |
3.6
|
15 |
0.8
|
13 |
|
|
|
|
||||
| Balanced (18) |
3 yr
|
Rank |
2 yr
|
Rank |
1 yr
|
Rank |
| Aon Russell Lifepoints Moderate |
4.9
|
1= |
6.0
|
1 |
1.4
|
7= |
| Mercer Super Trust Moderate |
4.9
|
1= |
3.9
|
9 |
1.4
|
7= |
| OnePath SIL Balanced |
4.1
|
3 |
4.7
|
3 |
2.2
|
2 |
| Onepath Balanced |
4.0
|
4 |
4.4
|
4= |
3.1
|
1 |
| ASB Moderate |
3.8
|
5 |
4.3
|
7 |
1.4
|
7= |
|
|
|
|
||||
| Moderate (26) |
3 yr
|
Rank |
2 yr
|
rank |
1 yr
|
Rank |
| SuperLife AIM First Home |
7.3
|
1 |
7.4
|
1 |
5.6
|
1 |
| Aon Russell Lifepoints Conservative |
6.7
|
2 |
7.1
|
2 |
2.8
|
12= |
| SuperLife AIM 30 |
6.4
|
3 |
5.9
|
4 |
2.7
|
14= |
| Aon Russell Lifepoints 2015 |
5.6
|
4 |
6.5
|
3 |
2.0
|
20= |
| OnePath SIL Conservative |
5.2
|
5= |
5.4
|
5 |
3.8
|
4 |
|
|
|
|
||||
| Conservative (14) |
3 yr
|
Rank |
2 yr
|
Rank |
1 yr
|
Rank |
| SuperLife The D Fund |
6.9
|
1 |
6.7
|
1 |
4.2
|
3 |
| Mercer Conservative |
6.3
|
2 |
5.1
|
4 |
3.0
|
6= |
| OnePath Conservative |
5.5
|
3 |
5.6
|
3 |
4.4
|
2 |
| AXA Income Plus |
5.0
|
4 |
3.9
|
7 |
1.7
|
12 |
| ASB Conservative |
4.9
|
5 |
4.5
|
5 |
3.0
|
6= |
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