Latest returns

2019 interest rates 

(after tax and expenses)

Period	Growth %	Balanced %	Conservative %	Cash %
January	5.19	3.74	1.57	0.15
February	2.36	1.65	0.63	0.12
March	1.73	1.54	0.92	0.16
Year to date (interim)	9.54	7.08	3.15	0.43

These are estimated monthly interest rates derived from the relevant market indices. 

Quarterly market update

Our investment manager and consultant Russell Investments provides a market update for UniSaver members each quarter. Read the latest update.

UniSaver vs KiwiSaver

Every provider has a slightly different strategy, so it is difficult to make comparative statements against average returns. However, comparing UniSaver returns against KiwiSaver funds with a similar mix of investments provides a benchmark that’s easy to relate to.

2018 saw some UniSaver returns dip below the average for KiwiSaver funds, particularly over the year to 30 December 2018. There are two reasons for this. First, UniSaver funds have less exposure to New Zealand shares than most KiwiSaver funds and so haven’t benefitted as much from the New Zealand sharemarket’s stellar run. Second, unlike most KiwiSaver funds, our overseas investments are 100% hedged, which means we haven’t benefitted from the weakening New Zealand dollar over the past year. However, we believe the greater diversification of our investments and our policy not to take on currency risk will benefit returns over the long term.

Performance against objectives

We have set objectives for Growth, Balanced, Conservative and Cash in order to set the appropriate investment strategy for, and help monitor the performance of, these funds. See how the investment options are tracking.

Annual interest rates

(after tax and expenses)

12 Months ending 31 December	Growth %	Balanced %	Conservative %	Cash %
2018	(6.42)	(4.08)	(0.47)	1.69
2017	17.35	13.09	6.69	1.75
2016	5.66	5.27	4.02	1.86
2015	7.29	5.83	4.54	2.42
2014	12.34	10.24	7.37	2.70
2013	16.27	11.41	7.17	2.20
2012	15.81	12.81	8.77	2.31
2011	(2.59)	(0.25)	1.56	2.64
2010	6.46	5.74	4.22	2.30

Interest is applied to your account balances on a daily basis throughout the year. The actual interest rates applied to your account balances may vary from those shown above.

The annual rate, which is declared as at 31 December each year, is determined by us taking into account (amongst other things) the investment earnings and expenses of the relevant investment option(s) you have chosen and the expenses incurred by UniSaver generally. 

If you leave UniSaver, we will calculate your benefit using an interim interest rate to cover the period between the end of the previous scheme year and the date your benefit is payable. Interim interest rates are an estimate of the investment return for the appropriate investment option less estimated tax and expenses.