The most recent performance data is out for KiwiSaver, showing the current best and worst performers. As usual when these updated quarterly data sets are released, there has been a flurry of media activity, with various media outlets updating their performance tables to provide New Zealander’s with up to the minute information about who has performed the best this quarter.

I wonder, how many NZer’s actually take the time to digest this information each month or quarter, and reflect on what this may mean for their own KiwiSaver investment?  I suspect the answer may be very few. To most, I think this would seem like a lot of work with an uncertain result – should you switch your KiwiSaver fund this month based on the currentbest performing fund? But what happened to last month’s best performer?

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People should be paying attention, as the difference between a good performing fund and a bad performing fund can be huge – over 10% average difference between best and worst each year for growth funds since KiwiSaver began. However continually chasing the best performing fund can have very negative consequences, and it’s a huge hassle!

The issue then, is a lack of advice – where do you go to get really good advice about KiwiSaver? If you go to your bank, of course they will tell you they have got a great KiwiSaver product. And a couple of them do. But if you go to the next bank down the road, they will also tell you they have a great KiwiSaver scheme. Confused? You’re not the only one!

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And so I started on a bit of a mission – researching, analysing, gathering information, to uncover the truth. And I found out plenty of truths. I found out that there are a few funds, I won’t mention them here, that have had consistently poor performance, and that a huge chunk of New Zealander’s were entrusting their hard earned money into these funds. There were also some consistently good performers, that over the years have shown they are very good at managing people’s KiwiSaver investment, and getting a good return for them. And to me, that’s the key – consistency. It’s no good trying to figure out which fund will have the best performance next month, or next quarter. It’s likely you won’t get it right. But by seeing trends over time, we are in a whole lot better position to say which schemes are most likely to do the best job over the medium term. Those are the funds we want to invest in.

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We wanted to share this information, and help more people be better off financially – and so began ilumony, New Zealand’s first robo-advice platform (not sure what robo-advice is? Find out here  http://graftsword.azurewebsites.net/2016/10/27/robo-what/). By grafting powerful technology with a human element, we can take this information and advice, and make it easily available to all of New Zealand. We take all the data and information that is available about the various KiwiSaver funds, and using clever technology we analyse it, put it under the microscope.

Then we rank the funds – we know which funds are the best, and which ones to avoid. But rather than flood New Zealand with more information that is hard to act on, we actually give people advice. We take the stress out of it for you, by becoming your KiwiSaver Pro – we help you determine which type of fund is right for you, and then we advise you which fund is likely to do the best job for you, and we’ll help you switch your KiwiSaver account. We continually monitor this, and we provide you with ongoing advice to make sure your KiwiSaver investment is always in good hands, all via our easy to use website. You can rest easy knowing we have got our ears to the ground, we know what’s going on. We’ve got your back. Ilumony is your KiwiSaver Pro.

Disclaimer –   Rachel Strevens is an Authorised Financial Adviser (AFA) and Director of Ilumony Ltd, a company providing financial services and advice on KiwiSaver. A copy of her disclosure statement is available free of charge on request from info@ilumony.com Information provided in this article is of a general nature only, and is not intended to be personalised financial advice.