The latest KiwiSaver results are in for the first three months of the year. Those were a volatile three months, with global share prices falling sharply and then rebounding.
Morningstar says the defensive KiwiSaver funds did better than the growth funds. In other words, funds with lots of fixed-interest investments (bonds) did better than shares.
The best performing category of fund was "Moderate", rising 2.65 percent in the March quarter.
But even the "Aggressive" funds eked out a 0.79 percent return over three months.
The KiwSaver funds Morningstar surveys now total over $32 billion, up from $954 million in June 2008.