QUARTERLY REPORT
KiwiSaver 360
KiwiSaver soars as market rips in June quarter.
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Global markets staged a strong recovery during the June quarter as investors looked through the geopolitical shock that dominated the start of the year. While tensions in the Middle East remained elevated for much of the quarter, the signing of a temporary ceasefire agreement and the gradual reopening of shipping through the Strait of Hormuz saw energy markets stabilize and the sharp inflation fears that emerged in March begin to unwind. Oil prices, which had spiked on concerns over supply disruptions, retraced much of their gains by quarter-end, helping restore confidence across equity and fixed-income markets. Global equities rebounded strongly, led by the United States and technology stocks as enthusiasm around artificial intelligence, combined with resilient corporate earnings, reemerged as the dominant investment theme.
In New Zealand dollar terms, international equities delivered solid positive returns. New Zealand equities also recovered, although they continued to lag global peers amid subdued domestic economic conditions and relatively weak earnings expectations. Bond markets were more mixed, with yields remaining elevated as central banks signaled that inflation risks had not fully disappeared despite easing energy prices.
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About the Morningstar KiwiSaver 360 Report
Morningstar's KiwiSaver 360 is designed to help New Zealand investors assess the past performance and other key characteristics of their KiwiSaver superannuation options. The accompanying tables show KiwiSaver fund returns for the three months and one, three, five, and 10 years to June 30, 2026.
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