What are KiwiSaver funds?

A way to invest - designed for retirement.

KiwiSaver is an investment (it’s not a savings account)

The money you put in is being put to work earning returns. These returns are reinvested, earning even more returns. So, the money you earn starts to earn more money, which helps your KiwiSaver balance to multiply in the long run.

But what are you investing in, exactly? That all comes down to what fund you’re in. Each fund has a different focus and is designed to suit people with different goals and risk appetites.

Here are four common fund types.
There are more, and you can choose to split your savings across two or more funds as well.

Conservative fund

A conservative fund is best suited to people who will need their retirement savings within 1-2 years. Because it invests mainly in things that are fairly stable – like cash or bonds – your money tends to increase slower, but in return there may only be smaller ups and downs in your balance along the way.

Balanced fund

A balanced fund is sort of an in-between option. It’s a great option if you’ll need your savings in 4 to 7 years.  You will generally see greater increases in your savings over the longer term, but there may also be larger ups and downs along the way. Around half of your money will be in those more stable investments like cash and bonds, and the other half will be in higher growth but more variable investments like shares and property.

Growth fund

A growth fund is generally best suited to people who won’t need to touch their savings for a while – more than 7 years. Your money will generally increase faster over the longer term – but there may be bigger ups and downs along the way. If you have your money in a growth fund, you’re investing mainly in things like shares and property.

Aggressive fund

An aggressive fund is generally best suited to people who won’t need to touch their savings for a long time – at least 10 years. Your money will be invested almost entirely in things like shares. Aggressive funds aim to achieve a long-term return that is higher than a growth fund but are more likely to experience big ups and downs along the way. 

Flexibility and choice

With AMP you don’t have to choose only one fund. You can select up to seven funds for free within your KiwiSaver account.

Or if you’re not ready to make a choice, AMP offers a KiwiSaver investment plan  that automatically updates your fund as life moves on.

AMP Guide: your risk appetite


You seek some growth but are cautious. You’re willing to accept low or lower returns to achieve this objective.

Conservative funds can change less over time.


You seek medium to high returns from your investment and are prepared to accept some fluctuations in the value of your investment to achieve this.

Balanced funds can have moderate changes.


You want high returns from your investment over the long term and are prepared to accept potentially significant fluctuations in the value of your investment to achieve this.

Growth funds can change more over time.

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AMP Guide: changing funds

Why should I change funds?

Getting your money invested in the right fund could make a significant difference to how much you have when you retire. It could be the next step you take to achieve that ideal savings goal you’ve always had in mind. In short, making sure you are in the right fund is a great way to get ahead financially.

You can change your fund in MyAMP:

Think about changing if:

• You want to make your money work harder by moving your savings to a growth fund
• You’re nearing retirement or getting ready to buy your first home, as moving to a conservative fund may have fewer ups and downs
• If you don’t remember choosing a fund when you opened your KiwiSaver account

More financial information

Performance updates

Current and past returns for all funds - returns shown for periods of 1m-10y (where available)

Unit prices

The latest available data on unit prices for funds

Quarterly fund updates

A detailed view of each fund over a quarterly period

Important information

The information included on this website is of a general nature and does not constitute financial or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. For financial advice, we recommend you contact your Adviser. If you don’t have an Adviser, contact us on 0800 267 5494.

While care has been taken to ensure that the information in this communication is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in anyway, including from any error or omission.

All forms of investment involve risk. None of AMP, The New Zealand Guardian Trust Company Limited or any other person or entity guarantees the performance of the AMP KiwiSaver Scheme or any investment in the AMP KiwiSaver Scheme (including the returns on that investment). Past performance is not indicative of future performance. Returns over different periods may differ.

AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme.
For more information, download a copy of the AMP KiwiSaver Scheme Product Disclosure Statement and Fund Update Booklet, which have been lodged on the Scheme's offers register entry at companiesoffice.govt.nz/disclose.