20 out of 24 ING Kiwisaver funds losing money

ING, one of the default KiwiSaver providers, has had 20 of its 24 KiwiSaver funds lose money in the first six months, reports the Herald.

Now this is only over a very short time period, but it is worth remembering that these funds are not government guaranteed.

I’ve gone with Fisher Funds.  The advice that a financial advisor gave the staff at my company was that whatever you do, never go with one of the IRD default schemes as the long-term rate of earnings on them is not much better than sticking it in the bank, and the difference between them and a higher growth fund is massive over a 30 to 40 year period.