On the performance of KiwiSaver funds
Abstract
Purpose
This paper aims to investigate the risk-adjusted performance of the KiwiSaver Growth funds for the period 2007-2013 in New Zealand.
Design/methodology/approach
Performance attribution regressions are used to measure risk-adjusted performance of KiwiSaver funds.
Findings
This paper found that there is no evidence of systematic risk-adjusted outperformance of KiwiSaver Growth funds, and in several cases, there is evidence of significant underperformance. This paper further reports substantial variation in the amount of risk-taking, and local and international stock market exposure of KiwiSaver Growth funds.
Originality/value
KiwiSaver is becoming an increasingly important investment vehicle for many New Zealanders saving for retirement. This is the first paper that considers the performance of KiwiSaver funds.
Keywords
Citation
Frijns, B. and Tourani-Rad, A. (2015), "On the performance of KiwiSaver funds", Pacific Accounting Review, Vol. 27 No. 3, pp. 266-281. https://doi.org/10.1108/PAR-09-2013-0089
Publisher
:Emerald Group Publishing Limited
Copyright © 2015, Emerald Group Publishing Limited