Strong finish for KiwiSaver funds

KiwiSaver funds finished 2010 strongly, investment services and consulting firm Mercer says.

A Mercer survey showed KiwiSaver growth funds -- which have the greatest allocation to shares and property -- performed best with a median return of 3.7 percent for the three months to the end of December.

More conservative default funds posted a median return of 0.8 percent for the quarter.

For the whole of 2010, growth funds and balanced funds did best with median returns of 7.1 percent, while conservative funds had 6.1 percent and default funds 5.9 percent for the year.

The returns in the survey were before tax and after management fees.

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