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
Illustrative 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
Compare every fund within a KiwiSaver scheme on the FMA Disclose register. Refreshed quarterly. Independent — FundCompare is not a Financial Advice Provider; general information only.
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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.
Before making any investment decision, you should read the Product Disclosure Statement (PDS) for the fund carefully. If you have questions or are unclear about the implications of your investment decision, you should seek advice from a licensed Financial Advice Provider.
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