What is a Growth KiwiSaver scheme fund?

Growth KiwiSaver scheme funds invest about 63–89% in growth assets (shares and property) and the remainder in income assets (bonds and cash). They target higher long-term returns, accepting larger short-term drawdowns. The standard FMA risk indicator is 4–5. Typically suited to investors with a 15+ year time horizon.

Who is a Growth KiwiSaver scheme fund suited to?

Investors with 15+ years until they need the money and the temperament to ride out a 20–30% drawdown without switching to a defensive fund at the bottom. If you're within 10 years of retirement or need a first-home deposit inside 3 years, Balanced or Conservative funds are typically more appropriate.

What 5-year returns do Growth funds show?

In our FMA-Disclose-sourced database the average 5-year annualised return across Growth KiwiSaver scheme funds sits around 4.2%, with average annual fees of 1.07%. Returns vary year to year — Growth funds can deliver 15%+ in a good year and post negative returns in a bad one. Past performance is not a reliable indicator of future returns.

What's the difference between Growth and Aggressive funds?

Growth funds typically invest 63–89% in growth assets; Aggressive funds invest 90–100%. The 5-year return gap between the two categories is usually 0.5–1.5% per year on average, with Aggressive showing larger peak-to-trough drawdowns. Both are appropriate for long-horizon investors; Aggressive demands a slightly higher tolerance for short-term volatility.

Should I switch from Conservative to Growth?

Move to Growth if your time horizon is 15+ years and you are confident you would not switch funds during a 30% drawdown. Stay or switch to Conservative if you need the money inside 3 years (e.g. for a first-home withdrawal) or if you are within 10 years of retirement. Switching is free; transfers between providers take 10–15 business days, while within-provider fund switches are usually instant.

How are Growth fund fees structured?

Most providers charge a single 'total annual fund charge' (TAFC), disclosed in the Quarterly Fund Update (QFU). A small number of providers charge a performance fee on top in years when the fund exceeds a benchmark — read the PDS to check. Fee differences of 0.5% per year compound to tens of thousands of dollars over a 30-year horizon.

Growth KiwiSaver scheme funds: data comparison

Growth KiwiSaver scheme funds: data comparison | FundCompare

Rank	Fund Name	Provider	5-Year Return	Fees	Risk	Members
#1	Aggressive Fund	SuperEasy	10.62%	0.51%	4/7	1k
#2	Quaystreet Australian Equity Fund	Smartshares	9.89%	1.37%	5/7	0k
#3	Quaystreet Growth Fund	Smartshares	9.53%	1.37%	4/7	3k
#4	Superlife Growth Fund	Smartshares	9.04%	0.71%	4/7	2k
#5	Superlife Age Steps - Age 40	Smartshares	9.04%	0.72%	4/7	0k
#6	Superlife Age Steps - Age 30	Smartshares	9.04%	0.72%	4/7	0k
#7	Growth Fund	Anglican	8.78%	1.50%	4/7	1k
#8	Superlife Age Steps - Age 50	Smartshares	8.52%	0.71%	4/7	0k
#9	Growth Fund	Generate	8.36%	1.39%	4/7	52k
#10	Automatic Fund (Age 40)	SuperEasy	8.08%	0.51%	4/7	0k
#11	Stepping Stones 36-45	Generate	7.96%	1.39%	4/7	2k
#12	Stepping Stones Growth 51-55	Generate	7.96%	1.39%	4/7	1k
#13	Growth Fund	ASB	7.50%	0.70%	4/7	149k
#14	Growth Fund	SuperEasy	7.39%	0.51%	4/7	1k
#15	AMP Growth Fund	AMP	7.39%	0.85%	4/7	31k
#16	AMP Growth Fund (Lifesteps)	AMP	7.39%	0.85%	4/7	10k
#17	Lifestages Auto Option Age 50 - 54	SBS	7.38%	1.11%	5/7	1k
#18	Growth Fund	MAS	7.10%	0.98%	4/7	6k
#19	Sustainable Growth Fund	Mercer	7.04%	0.84%	4/7	6k
#20	Superlife Growth Fund	AMP	7.00%	1.17%	4/7	4k
#21	Global Select Growth Fund	AMP	6.85%	1.27%	4/7	5k
#22	Milford Kiwisaver Active Growth Fund	Milford	6.82%	1.05%	4/7	103k
#23	Growth Fund	Mercer	6.67%	0.88%	4/7	2k
#24	Growth Fund	ANZ	6.58%	0.96%	5/7	226k
#25	Growth Fund	ANZ	6.58%	0.96%	5/7	13k
#26	Growth Fund	Westpac	6.56%	0.55%	4/7	115k
#27	Growth Fund	Booster	6.42%	1.25%	4/7	25k
#28	Growth Fund	Simplicity	6.01%	0.25%	1/7	44k
#29	Life Cycle - Age 65	NZ Funds	5.89%	1.60%	5/7	0k
#30	Goalsgetter Amova Growth Fund	Nikko	5.73%	1.51%	5/7	0k
#31	Balanced Fund	ASB	5.71%	0.65%	4/7	102k
#32	Global Select Balanced Growth Fund	AMP	5.65%	1.18%	4/7	6k
#33	BNZ Kiwisaver Growth Fund	BNZ	5.62%	0.45%	4/7	55k
#34	Pathfinder Kiwisaver Growth Fund	Pathfinder	5.56%	1.37%	4/7	8k
#35	Pie Kiwisaver Growth Fund	Pie	5.39%	0.68%	5/7	10k
#36	Balanced Growth Fund	ANZ	5.37%	0.92%	4/7	8k
#37	Balanced Growth Fund	ANZ	5.37%	0.92%	4/7	98k
#38	Life Cycle - Age 75	NZ Funds	5.28%	1.55%	5/7	0k
#39	Summer Growth	Summer	4.51%	0.90%	N/A	2k
#40	Goalsgetter Amova Balanced Fund	Nikko	4.47%	1.22%	4/7	0k
#41	Growth Fund	Fisher	4.27%	1.13%	5/7	68k
#42	Investnow Salt Sustainable Growth Fund	Fundrock	0.00%	1.10%	4/7	0k
#43	Investnow Smartshares Growth Fund	Fundrock	0.00%	0.51%	4/7	1k
#44	Investnow Fisher Funds Growth Fund	Fundrock	0.00%	1.02%	4/7	1k
#45	Growth Portfolio	Maritime	0.00%	0.75%	5/7	0k
#46	Milford Active Growth Fund	AMP	0.00%	1.57%	4/7	3k
#47	Investnow Mint Diversified Growth Fund	Fundrock	0.00%	1.20%	5/7	0k
#48	Investnow Milford Active Growth Fund	Fundrock	0.00%	1.05%	4/7	2k
#49	Pathfinder Kiwisaver High Growth Fund	Pathfinder	0.00%	1.36%	5/7	1k
#50	Socially Responsible Growth Fund	Booster	0.00%	1.34%	4/7	4k
#51	Pie Kiwisaver Aggressive Fund	Pie	0.00%	1.19%	5/7	2k
#52	Goalsgetter Salt Sustainable Growth Fund	Nikko	0.00%	1.38%	4/7	0k
#53	Investnow Pathfinder Ethical Growth Fund	Fundrock	0.00%	1.34%	4/7	0k
#54	Investnow Harbour Active Growth Fund	Fundrock	0.00%	1.03%	4/7	0k
#55	Growth Fund	Smartshares	0.00%	1.41%	4/7	0k
#56	Goalsgetter Harbour Active Growth Fund	Nikko	0.00%	1.33%	4/7	0k
#57	Goalsgetter Pathfinder Ethical Growth Fund	Nikko	0.00%	1.61%	4/7	0k
#58	Growth Fund	Consilium	0.00%	0.75%	4/7	0k
#59	Investnow Foundation Series Growth Fund	Fundrock	0.00%	0.38%	4/7	0k
#60	Glidepath Age 40	Fisher	0.00%	1.22%	5/7	0k
#61	Aurora Retirementplus Age 50	Fundrock	0.00%	1.62%	4/7	0k
#62	Aurora Growth Fund	Fundrock	0.00%	1.62%	5/7	11k
#63	Goalsgetter Milford Active Growth Fund	Nikko	0.00%	1.35%	4/7	0k
#64	Quaystreet High Growth Fund	Smartshares	0.00%	1.43%	5/7	0k
#65	Growth Strategy	Koura	0.00%	0.73%	5/7	0k
#66	Balanced Fund	Smartshares	0.00%	1.35%	4/7	0k
#67	Sharesies Smartshares Growth Fund	Sharesies	0.00%	1.35%	4/7	1k
#68	Sharesies Pathfinder Ethical Growth Fund	Sharesies	0.00%	1.32%	4/7	2k

Growth KiwiSaver Funds Comparison

What are Growth KiwiSaver Funds?

✅ Suited to:

⚠️ Consider Instead If:

Want personalised KiwiSaver guidance?

Important Information

Compare

Fund Types

All Growth Funds Ranked by Performance

Compare Other Fund Types

Balanced Funds

Conservative Funds

Fee Comparison

Ready to Compare All Funds?

First Home

Learn

Tools

Important Information and Disclosure