A new survey of the KiwiSaver retirement savings scheme by Mercer, shows share-based KiwiSaver funds were the best performers over the last year, but default funds were the best over the last two years.
Mercer says growth funds that have the biggest allocation of shares and property were the highest performers, with a median return of 3.4%.
However, default funds returned a median gain of 4.1% over the last two years, compared with a 4.4% loss made by growth funds.
