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JUNO KiwiSaver Review: Low-Fee Funds

With JUNO you’ll only pay one low monthly fee based on your KiwiSaver balance.

Launched in 2018, the JUNO KiwiSaver Scheme is open to all New Zealanders who want to be able to understand their investment, pay less in fees and grow their KiwiSaver balance. There are no charges for the first $5,000 or for under 18s, and you can choose which fund is more suitable for your circumstances and risk level.

Incorporating environmental, social and governance (ESG) investing, JUNO considers environmental, social and economic impacts of investments, with a focus on companies that have growth ability to be able to deliver returns and good management. JUNO strives on transparent pricing so you know just how much you’ll be charged each month.

When you join the JUNO KiwiSaver scheme, you’ll get access to the JUNO investing magazine by way of digital subscription. And if you are new to investing, you can take advantage of Learn with JUNO, a library of articles answering all your KiwiSaver questions to provide clarity on your investment.

What fund types does JUNO offer, and how have they performed?

JUNO has three funds to choose from: Conservative, Balanced and Growth. Environmental, social and governance matters are taken into account when investing. JUNO looks for companies that have good growth prospects that are attractively priced and only invests in those that are low risk and have the ability to deliver expected returns.

Name Product Past Performance - 6 Months Past Performance - 1 Year Past Performance - 2 Years Past Performance - 3 Years Past Performance - 5 Years Calculated fees on $50,000 balance
Juno KiwiSaver - Conservative
0.47%
4.26%
N/A
4.85%
N/A
$480
Performance is up to 30 September 2021. Rates are before fees and assume a PIR of 28%.
Juno KiwiSaver - Balanced
0.83%
9.75%
N/A
10.2%
N/A
$480
Performance is up to 30 September 2021. Rates are before fees and assume a PIR of 28%.
Juno KiwiSaver - Growth
1.55%
16.19%
N/A
16.93%
N/A
$480
Performance is up to 30 September 2021. Rates are before fees and assume a PIR of 28%.
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  • Conservative: The Conservative fund is for cautious people who are not too keen on the risk of investing. Investments are made in a mix of cash, fixed interest and equities, aiming to have some growth while preserving your capital. This fund should be considered by people looking to invest short-term for 3-5 years with an annual 2-5% target return.
  • Balanced: The Balanced Fund is more suited for longer investments of 5-10 years, if you are looking for steady capital growth. It has a target investment mix of equities, fixed interest and cash, with an average target return of 5-10% after taxes and fees.
  • Growth: The Growth Fund is suitable for long term investing and if you’re further away from retirement. If you’re comfortable with investing, this fund provides capital growth, so you could get 10% or more for investments longer than 10 years. 80% of the target investment mix is equities, 10% fixed interest bonds and 10% cash.

If you’re not sure which fund is right for you, you can use the simple tool on the JUNO website called ‘Help Me Choose The Right Fund’.

What are the fees?

While other KiwiSaver providers charge fees for administration, management and performance, JUNO only charges one fee every month. This fee is dependent on your balance, so the amount you’ll pay increases as your balance grows.

  • Under $5,000 – $2.50 per month
  • $5,000 to $14,999 – $5 per month
  • $15,000 to $24,999 – $8 per month
  • $50,000 to $74,999 – $40 per month
  • $100,000 to $199,999 – $90 per month
  • $200,000 and over – $120 ($90 plus an additional fee of $30 per month for every additional $100,000 invested)

There is no charge for under 13s.

If you head to the pricing page on the JUNO website, you can enter your KiwiSaver balance and see how much you can save on fees with different fund types compared to other providers.

How do I join JUNO?

To join JUNO, you must be a New Zealander or a permanent resident, and under the age of 65. You will also need an IRD number, a NZ photo ID, proof of address, and to complete an application form online.

Start the process by clicking on the ‘Join’ button on the top right corner of the website. Enter your personal details, ID information and upload your proof of address. If you have other family members to move across to JUNO, you can add their details on the same application.

Children can also join. You will need their identification and an IRD number. For children 15 and under, both parents will need to complete the online application and verify your identity. For teens ages 16 or 17, one parent can complete the application and verify their identity.

Summary

The JUNO KiwiSaver Scheme is worth considering by anyone who wants transparency in fees and a choice of funds with ESG investing.

JUNO aims to provide clarity in investing with resources to help you better understand how everything works. In moving to JUNO from your current provider, you may be able to save on fees since there is one set charge per month based on your balance, and you can get an estimate on this by using the handy tool on the website.

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