The latest data released for KiwiSaver performance as at December 31, 2012 is from Grosvenor Financial Services.
Recent results show Grosvenor's portfolios with high concentration of shares, both trans-tasman and global, benefited the most from the recent run up in equity markets.
Our previous story covering the September 30, 2012 returns can be found here.
Grosvenor has recently appointed Joe Byrne (formerly of Goldridge Wealth Management) to oversee the research team. According to a recent article highlighting this appointment, Grosvenor's Chief Investment Officer and joint Chief Executive, David Beattie, says Byrne brings with him a "wealth of experience, both in portfolio and risk management disciplines."
Byrne has extensive global and industry-wide experience and is expected to enhance the company's current investment solutions, Beattie said.
Since our last story in September 2012, Grosvenor has added a further NZ$13 million to its funds under management (FUM). The bulk of this growth will be from recent market appreciation as opposed to new members signing up or existing balances being transferred from under-performing providers.
2012 finished with a bang for those portfolios carrying a higher exposure to shares. Across the five portfolio's with over a 50% exposure to shares (as at December 2012), approximately 70-80% of the total return for the last twelve months was achieved in the second half of the year.
Over 86% of the whole year's return for the Trans-Tasman Small Companies Fund was achieved in the second half of 2012. The last quarter alone (1 October to 31 December) produced a return of 7.1%. We noted in our story covering the September 30 returns that this fund was a high octane option and investors needed courage to invest in it.
Although not all of the funds have been going for a full five year period, there is evidence from Grosvenor's results that the recent trend of more conservative KiwiSaver funds outperforming those with higher share exposures continues to hold true.
Below is a table of the longer term performance of the Grosvenor funds. The return data is before tax and after fees and is as published by the managers. (No adjustments have been made to take into account those additional fees which scheme providers may charge and which are not included in calculating the fund performance. We do make such adjustments, but they will not be included until the full benchmarking is published.)
|
Grosvenor KiwiSaver Scheme |
1 year (p.a.) |
5 year (p.a.) |
Since inception (1 Oct 2007) (p.a.) |
| Enhanced Income Fund | 3.2% | 4.7% | 4.9% |
| Conservative Fund | 6.7% | 5.2% | 5.4% |
| Balanced Fund | 8.3% | 3.4% | 3.3% |
| Balanced Growth Fund | 10.4% | n/a | n/a |
| Geared Growth Fund | 11.9% | n/a | n/a |
| High Growth Fund | 11.9% | -1.0% | -1.3% |
| Socially Responsible Investment Fund | 16.8% | n/a | n/a |
| Trans-Tasman Small Companies Share Fund | 19.2% | n/a | n/a |
| International Share Fund | 8.3% | n/a | n/a |
More detailed performance reporting can be found here ».
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