FundCompareKiwiSaver scheme comparison

What is Benchmark?

A benchmark is the published market index a KiwiSaver scheme fund compares its returns against, set in the SIPO.

Detailed Explanation

Each KiwiSaver scheme fund must declare a benchmark in its Statement of Investment Policy and Objectives (SIPO). For a NZ shares fund the benchmark is usually the S&P/NZX 50; for a global growth fund, MSCI World; for a balanced fund, a blended composite. Compare returns to benchmark to judge active manager skill.

Example

A NZ shares fund returns 12% in a year; the S&P/NZX 50 returned 14%. The fund underperformed its benchmark by 2 percentage points before fees.

Frequently Asked Questions

Where do I find the benchmark?

In the SIPO and the Quarterly Fund Update for each fund.

Related Terms

Active ManagementIndex Fund (Passive Fund)SIPO (Statement of Investment Policy and Objectives)
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FundCompareKiwiSaver scheme comparison

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