Using the most recent returns and fund update reports from 30th September, we will examine Milfords’s recent KiwiSaver Performance.
Milford Asset Management is a New Zealand-owned and operated Investment company founded in 2003. Milford Assets offers custom investment advice through managed funds and a KiwiSaver Scheme. According to the company, they currently have over $15 billion in managed funds (November 2022) and are renowned for their high performance regarding KiwiSaver in the last few years.
Inflation and the lasting economic effects of COVID-19 still have a stranglehold over the markets. This is evident with the negative returns of funds across many KiwiSaver providers this quarter. These factors cause market volatility. The Reserve Bank of New Zealand’s attempt to mitigate this volatility and inflation by raising the official cash rate is still coming into effect. Positive trends within the market may occur when these factors are mitigated.
Table of Contents
News about Milford
Performance of Milford KiwiSaver Funds
Milford Cash Fund
Milford Conservative Fund
Milford Moderate Fund
Milford Balanced Fund
Milford Growth Fund
Milford Aggressive Fund
News about Milford
In recent news, Milford’s KiwiSaver Plan has received the Canstar Award for the third year. This award is given to the firm that demonstrates excellent investment performance and value across three core funds: conservative, balanced, and growth, over the last five years. The award compares differing entities’ fees, features, and performance. Milford also attained five stars (top level) for each fund in these categories, getting praised for their management in times of such volatility.
Performance of Milford KiwiSaver Funds
|
1 Month |
3 Month |
1 Year |
3 Year |
5 Year |
Since Inception |
|
|
Cash |
0.3 |
0.82 |
1.82 |
NA |
NA |
0.94 |
|
Conservative |
0.69 |
-1.28 |
-4.61 |
0.85 |
2.88 |
6.66 |
|
Moderate |
1.52 |
-0.96 |
-4.44 |
NA |
NA |
5.33 |
|
Balanced |
2.16 |
-1.05 |
-4.56 |
0.85 |
2.88 |
6.66 |
|
Active Growth |
3.38 |
-1.14 |
-6.67 |
7.13 |
8.44 |
11.61 |
|
Aggressive |
4.33 |
-1.81 |
-9.84 |
9.42 |
NA |
9.12 |
Sourced from Milford fund performance report
* These returns are to 30 September and are before tax and after fund management fees. Past performance is not necessarily an indicator of future performance, and return periods may differ.
Note: The following information is sourced from Milford Quarterly Fund updates published on 30 September.
Milford Cash Fund
After the basic fund fee but before taxes, this Cash Fund aims to target a return higher than the New Zealand Official Cash Rate. It invests mainly in term deposits, short-term debt securities, and cash in New Zealand. Milford KiwiSaver Cash Fund has a return over the past three months of 0.82% and a return over the past year of 1.82%, which is greater than the inception return of 0.78%.
*The following is Sourced from Milford Cash Fund Update
Returns 
Fees
The total annual fees for investors in the Milford Cash Fund are 0.2% per year.
Investment mix
The investment mix is 100% cash and cash equivalents due to being a Cash Fund.
Top ten investments
This table shows Milford’s top 10 investments in the Cash KiwiSaver Fund, which comprise 60.02% of the fund.
Milford Conservative Fund
During the minimum suggested investment duration of three years, the Fund’s purpose is to protect capital and offer moderate returns after base fund fees but before taxes. A moderate portion of the fund’s holdings is in equities, although it predominantly invests in fixed-interest securities. As opposed to the return since inception of 6.66%, the Milford KiwiSaver Conservative Fund has a return over the past three months of -1.28% and a return over the past year of -4.61%.
*The following is Sourced from Milford Conservative Fund Update
Returns
Fees
The total annual fees for investors in the Milford Conservative Fund are 0.95% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Milford’s top 10 investments in the Conservative KiwiSaver Fund, which comprise 21.04% of the fund.
Milford Moderate Fund
Over the minimum suggested investment term of four years, the Fund’s purpose is to offer modest returns and capital growth after the base fund charge, before tax, and before the performance fee. It is a diversified fund with a sizable stock allocation and primarily invests in fixed-interest securities. Compared to the return since inception of 5.33%, the Milford Moderate fund has a 3-month return of -0.96% and a 1-year return of -4.44%.
*The following is Sourced from Milford Moderate Fund Update
Returns
Fees
The total annual fees for investors in the Milford Moderate Fund are 1.00% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Milford’s top 10 investments in the Moderate KiwiSaver Fund, which comprise 18.25% of the fund.
Milford Balanced Fund
Over the minimum suggested investment horizon of five years, the Fund’s objective is to generate capital growth after the base fund charge, before tax, and before the performance fee. It is a diversified fund with a sizable allocation to fixed-interest securities that invests mainly in stocks. In comparison to its 6.66% performance since inception, Milford KiwiSaver Balanced Fund has a 3-month return of -1.05% and a 1-year return of -4.56%.
*The following is Sourced from Milford Balanced Fund Update
Returns
Fees
The total annual fees for investors in the Milford Balanced Fund are 1.09% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Milford’s top 10 investments in the Balanced KiwiSaver Fund, which comprise 18.06% of the fund.
Milford Growth Fund
Over the minimum suggested investment term of seven years, the Fund’s objective is to deliver annual returns of 10% after the basic fund charge, before tax, and before the performance fee. With moderate exposure to fixed-interest securities, it is a diversified fund that invests primarily in stocks. In comparison to its return since inception of 11.61%, Milford KiwiSaver Active Growth Fund has a 3-month return of -1.44% and a 1-year return of -6.67%.
*The following is Sourced from Milford Growth Fund Update
Returns
Fees
The total annual fees for investors in the Milford Growth Fund are 1.05% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Milford’s top 10 investments in the Growth KiwiSaver Fund, which comprise 25.21% of the fund.
Milford Aggressive Fund
Over the minimum suggested investment term of ten years, the Fund’s objective is to maximize capital growth after the base fund charge, before tax, and before the performance fee. With a moderate allocation to Australasian equities, it invests primarily in foreign stocks. In comparison to its 9.12% performance since inception, Milford KiwiSaver Balanced Fund has a 3-month return of -1.81% and a 1-year return of -9.84%.
*The following is Sourced from Milford Aggressive Fund Update
Returns
Fees
The total annual fees for investors in the Milford Aggressive Fund are 1.21% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows Milford’s top 10 investments in the Aggressive KiwiSaver Fund, which make up 30.77% of the fund.
Data for Milford KiwiSaver funds have been sourced from Milford KiwiSaver Funds. Past performance is not necessarily an indicator of future performance, and return periods may differ.
To see if Milford has the appropriate fund that aligns with your values, retirement goals, and situation, complete National Capital’s KiwiSaver Healthcheck.