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Fisher Funds KiwiSaver review
With a range of funds and a wealth of investing experience, Fisher Funds is a KiwiSaver scheme to consider
With over 230,000 KiwiSaver members, Fisher Funds is one of the top KiwiSaver fund managers in New Zealand. It prides itself on its excellent service to clients, along with its intuitive investment methodology and transparent practices.
In this review, we take a look at the basics of Fisher Funds KiwiSaver, from their yearly returns to their eligibility criteria, so that you can decide if it’s the best KiwiSaver plan for you.
About Fisher Funds
Fisher Funds is a KiwiSaver scheme provider with a range of investment funds catering to different risk profiles. It is known for being client-centric and helps to break down investing into no-nonsense simple savings plans. If you need financial advice, Fisher Funds can provide this to you free of charge without any obligation to join.
Fisher Funds KiwiSaver schemes and performance
- Growth – The Growth Fund comprises mainly of growth assets such as Australasian or international equities and stakes in properties, as well as income assets such as cash equivalents and fixed interest assets. It has a much higher composition of growth than income assets, which results in higher volatility but also greater capital growth over the long term.
- Balanced – The Balanced Strategy splits your savings between the Growth (50-60%) and Conservative (40-50%) funds, allowing you to strike a balance between risk and returns. In the long term, Balanced Strategy helps you achieve sustainable returns with a lower risk profile.
- Conservative – The Conservative Fund has a higher weightage in fixed income assets for reduced risk, however, it comes with stable but lower long-term gains. It is generally more suitable for investors who are nearing retirement or looking to withdraw funds in the short term, as well as those who are more focused on protecting their savings.
Fisher Funds also offers a GlidePath investment option. Your investment fund is chosen for you based on your age and reduces the risk in your investment as you get older. This way, you can always stay invested without worrying about whether you are taking on too much or too little risk.
*The fund performance statistics quoted above are directly sourced from the Fisher Funds website. The 2-year and 3-year performance figures are annualised. Additionally, these figures do not include fees and tax credits. Moreover, past performance is not necessarily indicative of future returns.
Fisher Funds TWO KiwiSaver schemes
Unlike the Fisher Funds KiwiSaver plans mentioned above, the Fisher Funds TWO KiwiSaver schemes tend to have more focused asset compositions.
- Preservation. This fund aims to protect your savings and grow your wealth better than 90-day bank bills could. This is one of the lowest-risk plans available.
- Cash Enhanced. The Cash Enhanced Fund aims to protect your savings while offering sustainable long-term growth using income assets and a small portion of growth assets.
- Conservative. The Conservative Fund offers moderate growth for a moderate level of risk. It is very similar to the Cash Enhanced Fund, except tilting more towards growth assets.
- Balanced. The Balanced Fund is a middle ground between protecting your savings and striving for wealth growth. It involves a mix of both growth and income assets.
- Growth. This fund focuses on growing your wealth, mainly using growth assets.
- Equity. The Equity Fund focuses on aggressive growth by leveraging on local and global equities.
Fisher Funds KiwiSaver fees
Fisher Funds KiwiSaver schemes have fees that are directly deducted from your investment account. Here’s what you can expect to be charged for:
- Management fees. Fisher Funds charges a fixed annual management fee for its KiwiSaver schemes based on your fund type, ranging from 0.85% to 0.95% per annum. The Fisher Funds TWO KiwiSaver funds also have a yearly fee of $28.44 on top of individual fund fees.
- Performance-based fees. Fisher Funds charges a fee of 0% to 2% per annum depending on the annual performance of the fund above the hurdle rate of return (usually about 6%). This is to compensate Fisher Funds for providing greater annual returns on its various portfolios, which incentivises Fisher Funds to provide clients with great long-term returns.
- Operating fees. These fees help to cover operational charges and the cost of investing in funds not managed by Fisher Funds. Fees are estimated to be about 0.1% per annum.
Do take note that Fisher Funds may charge different fund fees for each account type and the amount you have in your KiwiSaver. Always check with Fisher Funds beforehand to get a reliable and transparent fee estimate for your KiwiSaver fund.
What other products does Fisher Funds offer?
Fisher Funds also offers a great variety of investment products for its clients such as the Lifesaver retirement funds and proprietary Managed Funds for different investment functions.
- Managed Funds. Besides KiwiSaver funds, Fisher Funds offers a diverse range of managed portfolios. There are six different managed funds for you to consider: the Income Fund, Property and Infrastructure Fund, New Zealand Growth Fund, Australian Growth Fund, Mixed Asset Growth Portfolios, International Growth Fund, and Mixed Asset Conservative Portfolios. Each of these funds has its own unique asset class compositions based on varying risk levels.
- Premium Service. The Fisher Funds Premium Service offers a high level of personalised wealth management for more affluent investors. This service offers both exclusive financial advice and tailor-made investment solutions.
- Investment Series. The Investment Series specialises in managed funds for more conservative investors, mainly involving asset allocations that lean heavily on cash, fixed interest, properties and shares. These funds help risk-averse investors find a low-risk, diversified portfolio. There are currently 6 plans to choose from: the CashPlus Fund, New Zealand Fixed Income Trust, BondPlus Fund, Multi Sector Fund, Trans Tasman Equity Fund, and Global Fund.
- LifeSaver Plan. LifeSaver plans are Fisher Funds workplace savings plans that help you save up for retirement. You may choose from the LifeSaver Preservation Fund, LifeSaver New Zealand Fixed Income Fund, LifeSaver Conservative Fund, LifeSaver Balanced Fund, LifeSaver Growth Fund, LifeSaver Equity Fund and LifeSaver Trans Tasman Equity Fund.
- FuturePlan. The Fisher Funds FuturePlans are alternative investment plans for you to consider. These plans include the FuturePlan Balanced Fund, FuturePlan Capital Protected Fund, FuturePlan Emerging Markets Fund, FuturePlan Growth Fund, FuturePlan International Companies Fund, FuturePlan Property Fund, and FuturePlan Trans Tasman Equity Fund.
How do I join Fisher Funds?
To learn more about Fisher Funds, you can either request an information packet or download the relevant product disclosure statements from the website. Once you’ve decided to sign up, you can download the application form and return a signed copy, or sign up directly online. If you have any queries before registering, you can get in touch with a Fisher Funds representative.
Before signing up with Fisher Funds, be sure that you meet their stipulated eligibility requirements. In general, you should be:
- A New Zealand citizen, or entitled to live in New Zealand indefinitely
- Living in New Zealand
Since KiwiSaver is not a compulsory savings scheme, you can sign up if you are currently unemployed.
You will need to provide your New Zealand passport number and its date of expiry, New Zealand drivers licence and date of expiry, as well as a proof of address. If it is difficult for you to obtain these documents, you may verify your identity through other means. Visit the Fisher Funds website for a comprehensive list of accepted identity verification processes, or get in touch with a Fisher Funds representative for assistance.
Fisher Funds offers three KiwiSaver schemes to cater to a range of risk appetites. These funds — the Growth, Conservative, and Balanced Strategy portfolios — come with transparent fees, intuitive management strategies and financial advising services. You may discuss your preferences with a Fisher Funds representative and easily sign up online for a Fisher Funds KiwiSaver plan.
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