Huljich KiwiSaver funds take battering

Top performing KiwiSaver provider Huljich Wealth Management has fallen off its pedestal, plummeting into the bottom ranks of the performance charts over the last quarter of 2009, figures from FundSource show.

While its conservative, balanced and growth funds remain top over the two years to December 31, all three took a battering in the three months to December 31 and were ranked either bottom or second from the bottom.

The Huljich Diversified Conservative KiwiSaver fund grew just 0.81 per cent over the quarter, ranking it 23rd out of 24 funds monitored by Fundsource and well behind the sector's average fund, which grew 1.6 per cent.

The only conservative fund behind the Huljich fund was Fisher Fund Management's new conservative KiwiSaver fund, which grew just 0.35 per cent. It started in June and still has most of its money invested in cash.

Huljich's Diversified Balanced KiwiSaver fund fared even worse relative to its peers.

The fund grew 0.68 per cent - not even half of the average return of 2.57 per cent - ranking it 33rd, the bottom in the sector.

The Huljich Growth Diversified KiwiSaver fund was up just 0.66 per cent compared with the growth sector average of 3.23 per cent, also ranking it bottom of the pack at 26th.

FundSource acting business manager TJ Singh said it was not unusual for funds to fall from top to bottom ranking over a shorter timeframe.

Singh said three months was a very short timeframe and if an investment in one particularly company went badly it could affect the fund's performance.

Fundsource usually took three years as the minimum period to judge a fund's performance by, he said.

KiwiSaver began in July 2007 but funds were not allocated any money until October 2007.

Conversely the fortunes have reversed for fund manager AMP.

Its conservative fund was ranked 19th out of 23 over one year but it was first over the final quarter of 2009 and is ranked second over the two years.

Its AMP KiwiSaver ING balanced fund is 21st out of 32 over two years but top over the last quarter and its aggressive fund is bottom over two years in the growth sector but top over three months.

Singh said the past two years had been a very volatile period for fund managers.

Those that did well in the last quarter of 2009 had more money invested in global shares and New Zealand and Australian shares.

GOLDEN KIWIS

KiwiSaver top performers and their gains over the three months to December 31

CONSERVATIVE
AMP KiwiSaver: 2.19 per cent
Asteron KiwiSaver: 2.16 per cent
Fidelity Life Kiwi: 2.14 per cent

BALANCED
AMP KiwiSaver ING: 5.03 per cent
AMP KiwiSaver: 3.61 per cent
AXA KiwiSaver: 3.57 per cent

GROWTH
AMP KiwiSaver: 4.99 per cent
Fisher Funds KiwiSaver: 4.83 per cent
AXA KiwiSaver Growth: 4.43 per cent