All but a handful of funds went backwards in the BusinessDesk/FundSource KiwiSaver report for September 2023.
Tellingly, the best-performing fund for the month was Fisher’s Preservation fund, which returned 0.7 per cent, with only a handful of defensive cash funds generating a positive return for investors.
Among equities funds, New Zealand and Australian-based funds outperformed international shares for the month. Milford’s Growth and Balanced funds were the best (or least worst performers) in September in their respective categories.
These funds are also best in the category over the longer term but had been among the worst performers this year until September.
The best-performing conservative fund in September belonged to QuayStreet.
