FundCompareKiwiSaver scheme comparison

What is Gross Return?

Gross return is the investment return on a KiwiSaver scheme fund before fees and PIE tax are deducted.

Detailed Explanation

Gross return reflects the underlying market performance of the fund's assets. It is useful for comparing investment skill but does not equal what you earn — fees and PIE tax always reduce gross return to a smaller net return. Use net return when comparing funds.

Example

A growth fund posts a 12% gross return. After 1.1% in fees and 28% PIE tax on the rest, the net return to a member is approximately 7.8%.

Frequently Asked Questions

Should I look at gross or net returns?

Net — it is what compounds in your account.

Related Terms

Net ReturnManagement FeePIE (Portfolio Investment Entity)
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FundCompareKiwiSaver scheme comparison

Independent KiwiSaver information for New Zealanders. Compare fund data, view fees, and explore provider options. General information only — not financial advice.

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Investing involves risk. The value of your KiwiSaver investment can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future returns.

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