Top KiwiSaver fund performance, March quarter 2025
The latest Morningstar KiwiSaver Survey has been released. Below are the top performing KiwiSaver funds in the conservative, balanced, growth and aggressive categories over one, three and ten years.
Short term results move around with markets. The longer term numbers give a better guide to how a provider manages money through different conditions.
Top performing funds, March quarter 2025
| Timeframe | Conservative | Balanced | Growth | Aggressive |
|---|---|---|---|---|
| 1-Year | Milford: 7.3% | QuayStreet: 10.3% | InvestNow: 8.8% | Kernel: 9% |
| 3-Year | QuayStreet: 5.4% | QuayStreet: 9.5% | QuayStreet: 10% | Generate: 8.4% |
| 10-Year | Milford: 4.9% | Milford: 7.8% | Milford: 9.8% | Booster: 9.4% |
Source: Morningstar KiwiSaver Survey, March 2025 quarter. Past performance is not a guide to future returns.
Performance overview
Returns were mixed for the March 2025 quarter, with higher risk funds taking the biggest hits. Despite the volatility, long term trends are crystal clear. QuayStreet continues to perform exceptionally, taking top spots in the Balanced category across 1 and 3 years. Milford once again shows dominance, leading the Conservative and Growth categories over 10 years, and delivering strong long term Balanced results. Generate’s Focused Growth Fund shines in the Aggressive space, delivering the best 3 year return in its class.
What about the banks? Nowhere to be seen. Not one bank managed fund made it into the top performing list across any risk category or timeframe. The message couldn’t be clearer: if you’re chasing strong, consistent returns, it’s the quality non bank managers like Milford, Generate, QuayStreet, and Kernel doing the heavy lifting.
How Finsol can help
The right provider and fund make a real difference to your retirement balance. We help you choose a provider and fund that suit your goals, show you what your retirement could look like, and give you the information you need to invest with confidence.
Call us on 0800 346 765 or book a free consultation.
Finsol is a financial advisory business founded in Hawke’s Bay in 2010, looking after more than 6,000 clients across New Zealand. This article is general information only and does not take your personal circumstances into account. Fund returns are from the Morningstar KiwiSaver Survey for the March 2025 quarter. Past performance is no guarantee of future results.
