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Morningstar KiwiSaver Survey · June 2026 quarter

Two funds.
Two number ones.

Morningstar's survey is independent, public, and we get no say in it. This quarter it put two Kōura funds at the top.

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#1
Clean Energy Fund
Best return of any KiwiSaver fund in New Zealand for the June quarter — and 2nd best over 12 months
#1
Strategic High Growth Fund
Best one-year return of any Aggressive KiwiSaver fund in New Zealand
The results

Independently measured. Not marked by us.

Morningstar has no reason to make us look good. They just run the numbers.

#1 All funds · June quarter #2 All funds · 12 months

Clean Energy Fund

Launched May 2022 · 2,705 members

31.8% Return for the 3 months to 30 June 2026 — the best of any KiwiSaver fund in the country, not just its category.
97.9% Return for the 12 months to 30 June 2026 — 2nd of any KiwiSaver fund

After fund charges, before tax. After tax at the top 28% PIR: 95.5%. A volatile sector — it has had losing years too.

#1 Aggressive funds · 12 months

Strategic High Growth Fund

Launched December 2024 · 4,109 members

26.5% Return for the 12 months to 30 June 2026 — the best of any Aggressive fund in New Zealand.
14.6% Return a year since launch in December 2024, after charges and tax

After fund charges, before tax. After tax at the top 28% PIR: 25.1%. The fund is 18 months old — one year is most of its history.

Invest your KiwiSaver plan.

Adding either to your portfolio takes about two minutes.

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The why

Neither result was luck.

Two funds, two completely different reasons they worked.

Strategic High Growth Fund

01

We didn't invest in New Zealand

Most KiwiSaver funds hold a slice of the New Zealand share market out of convention. This one holds none — it looks at the whole world instead. Over the past year, that was the single biggest difference.

02

J.P. Morgan's call on Japan

The fund is actively managed by J.P. Morgan. They went overweight Japan, and Japan ran. That's what you pay an active manager for — they make calls, and this one landed.

What's inside

98.3% J.P. Morgan Global Research Enhanced Index Equity Active ETF. The rest in cash and NZ bonds.

Clean Energy Fund

01

The AI boom needs electricity

Data centres consume power on a scale the grid was never built for. All that demand has to be generated and delivered — by the kind of companies this fund holds.

02

Same components, different label

Much of the hardware in a data centre — transformers, grid equipment, power electronics — is the same hardware clean energy runs on. The AI build-out pulled those manufacturers up with it.

03

Politics didn't stop it

The most interesting part: the US administration has tried hard to wind clean energy back, and the sector flourished anyway. Demand for power beat the politics.

What's inside

99.5% First Trust NASDAQ Clean Edge Green Energy Index Fund. The rest in cash.

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“We don't get the benefit of the doubt that bigger providers do. Every result we put up has to hold up. So yes — we're proud of this one.”

Rupert Carlyon · Managing Director, Kōura Wealth

How to invest

Adding these funds takes about two minutes.

Up to 10% of your portfolio can go to the Clean Energy Fund. Most people don't realise KiwiSaver gives them that choice.

Log in to your Kōura app or online portal.

Go to the change section and choose Create Custom Portfolio.

Select the Strategic High Growth Fund and / or Clean Energy Fund, and set your amount.

Click Change to my new portfolio. Done.

Being straight with you

Three honest limits on what this proves.

Start with the longer-run number for each fund, not the headline one.

Clean Energy Fund
6.5%

a year since launch in May 2022, after fund charges and tax. Over the same period it has had two losing years.

Strategic High Growth Fund
14.6%

a year since launch in December 2024, after fund charges and tax. Only 18 months of history so far.

One fund is 18 months old

The Strategic High Growth Fund launched in December 2024. One year is as much history as it has. An encouraging start, not a track record.

Clean Energy goes both ways

The fund that returned 57% in the year to March 2026 lost 31% in the year to March 2024. That's single-sector investing — and why we cap it at 10%.

One quarter isn't a strategy

A top ranking this quarter says nothing about next quarter. It does say that what we build stands up to independent measurement.

About these returns

Past performance is not a reliable indicator of future performance. Returns are not guaranteed and investment values may fluctuate over time. Fund rankings are sourced from Morningstar's KiwiSaver Survey for the quarter ended 30 June 2026. Fund returns are as at 30 June 2026 and are stated after fund charges; figures described as before tax exclude tax, and figures described as after tax are calculated at the top prescribed investor rate (PIR) of 28% — your tax may be lower. Since-launch returns are annualised to 30 June 2026 and are sourced from the relevant Kōura fund updates, prepared under the Financial Markets Conduct Act 2013.

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Two minutes in the app, or start a new Kōura plan from scratch.

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The views and opinions expressed in this page are those of Rupert Carlyon. This content is for information purposes and is not financial advice. Before making any financial decisions, consider speaking to a financial adviser. Kōura Wealth Limited is the issuer and manager of the Kōura KiwiSaver Scheme. A copy of the Product Disclosure Statement is available at kourawealth.co.nz/documents.