Latest returns

Your investment returns depend on the performance of the investment option(s) you have chosen to invest your savings in. Returns may be negative, nil or positive.

Daily unit pricing

UniSaver uses daily unit pricing. When you log in to your account to view your investment balances online, you see the unit price, number of units and dollar value for your holding in each investment option.

A unit represents a share in a particular investment option. The unit price is based on the net value of all the investments held under that investment option. At the end of each trading day, we declare a unit price for each option, just like a share price. When your contributions are paid into the scheme, you effectively buy additional units based on that day’s unit price. Similarly, when you apply for a benefit, you redeem units to the value of your withdrawal based on that day’s unit price.

Taxes, investment management fees and expenses are reflected in the unit price.

Compare current and historical unit prices

When comparing unit pricing, remember superannuation is a long-term investment and past performance is not an indication of future performance.

2020 percentage interest rates 

Investment performance figures are based on the change in unit prices over a given period and are expressed as a percentage. Returns are after tax at 28% and fees.

UniSaver vs KiwiSaver

These graphs compare returns from our three main investment options with median returns from comparable funds in the Mercer KiwiSaver Survey. Every investment provider has a slightly different asset allocation strategy, so it can be misleading to draw close comparisons. However, comparing UniSaver returns against KiwiSaver funds with a similar mix of investments does provide a benchmark that’s easy to relate to.

Remember, though, the maxim that past performance is not a guide to future performance. That’s why we recommend you stick to a long-term investment strategy based on your personal circumstances – making particular note of when you expect to access your savings. Our risk profiler is a good place to start to work out whether you’re in the right investment option for your risk appetite and investment timeframe.

While long-term returns (10 years) for UniSaver stack up well against KiwiSaver schemes, UniSaver returns are lagging behind the average for this peer group over the short term. There are a number of reasons for this.

• KiwiSaver schemes continue to benefit from a higher weighting in New Zealand shares and New Zealand fixed interest which fared better than their global counterparts during the current downturn.
• Our three main funds have a slightly higher allocation to growth assets than the KiwiSaver average which exacerbated the impact of the sharp fall in share prices around the world in February and March.
• Returns from listed property and infrastructure, which were expected to help temper a fall in share prices, have not had this advantage this time around given the very specific nature of the cause of share market falls. Many of these assets are designed to bring people together – think airports, shopping malls and toll roads – and have been particularly affected by lockdowns around the world designed to curb the spread of Covid-19.
• Our overseas investments are 100% hedged – effectively an insurance policy against a rise in the value of the New Zealand dollar.* During the March 2020 quarter, the New Zealand dollar fell against key currencies providing something of a cushion for those funds with at least a portion of their investments unhedged.
• Importantly, some managers of our global fixed interest and global shares portfolios simply underperformed the benchmarks set for them and their peers.

We are monitoring this situation closely and maintain an ongoing dialogue with the scheme’s investment manager to make sure the scheme’s overall investment approach and the asset allocation for each fund continues to serve the long-term interests of members.

*Global equities exposure will be transitioned from 100% $NZ hedged to 50% $NZ hedged and 50% unhedged between 30 June 2020 and 31 December 2020.

Quarterly investment update

Read the latest quarterly investment update from our investment manager, Russell Investments.

Performance against objectives

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

Annual interest rates

(after tax and expenses)