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GoalsGetter KiwiSaver Scheme Review

Our guide to the GoalsGetter KiwiSaver Scheme looks at the fund choices, fees and options available to KiwiSaver members.
​Updated 17 December 2024
Summary of the GoalsGetter KiwiSaver Scheme
  • Funds: The GoalsGetter KiwiSaver Scheme offers members the choice of eighteen funds, with around $85 million under management as at 30 November 2024. It's one of the smallest KiwiSaver schemes, having launched in 2018 (under the brand Nikko AM KiwiSaver Scheme) and then relaunched as GoalsGetter in May 2024.
  • Funds from managers, including Milford, Pathfinder, Nikko AM, Salt, Generate and Harbour Asset Management.  are available as part of the GoalsGetter KiwiSaver Scheme funds.
  • A leading feature is that you don't need to pick just one fund - The GoalsGetter KiwiSaver Scheme allows you to create your own portfolio of investments by choosing any combination of their funds. This means you can allocate 20% to one fund, 60% to another and 10% for two others etc.
  • ​​100% Active Management: All of the funds are actively managed by a fund manager, with fund managers actively managing their portfolio of investments to achieve long term capital growth. The costs associated with an active fund means that fund fees will be higher, relative to index-tracking schemes like Simplicity and Kernel.
  • Fees:
  1. There is an annual account fee of $30 for being a GoalsGetter KiwiSaver Scheme member, which is standard for most KiwiSaver schemes. 
  2. Total Fund changes range from 0.40% (the GoalsGetter Nikko AM NZ Cash Fund) to 1.61% p.a. (the GoalsGetter Generate Focus Growth Fund). The annual fund charges are calculated and accrued daily and reflected in the unit price.
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​Our Review
In this guide, we outline what the GoalsGetter KiwiSaver Scheme is, it's pros, cons, alternatives and fees. This Guide covers:
Please note: MoneyHub is not a Financial Adviser, and this guide has been published to explain the investment fundamentals and outline the pros and cons of the GoalsGetter KiwiSaver Scheme as a KiwiSaver investment option.
Read this First: Fees, Performance and Understanding What's Best For Your Situation
  • A lot of media attention focuses on KiwiSaver fees, but this is only one thing to consider when picking the most suitable provider and fund for your retirement needs.
  • We believe that being comfortable with what you're investing in is the most important aspect of saving for your retirement, not the fee you'll pay.
  • While we don't focus on the latest returns, we encourage readers to make their own comparisons.
  • Ultimately, deciding upon whether the GoalsGetter KiwiSaver Scheme is right for you will most likely come down to your interpretation of the fund performances in the medium term, their investment strategy and their fees.

GoalsGetter KiwiSaver Scheme Funds Summary

  • ​​The scheme is managed by Nikko Asset Management New Zealand Limited, which is part of the Japanese giant Nikko Asset Management which manages around US$230 billion of investments.
  • In New Zealand Nikko AM manages around $8 billion of investments, but despite this, it lacks brand awareness and only launched its KiwiSaver scheme in 2018, before relaunching as the GoalsGetter KiwiSaver Scheme in 2024.
  • Quarterly fund updates are available on the GoalsGetter website.
  • Each of the eighteen funds has a unique risk indicator (1 = lowest, 7 = highest), which is driven by performance and its distinct investment profile.
  • Fees, returns, risks and the suggested investment timeframe differ between funds.

The eighteen funds fall into four different categories, which focus on a particular asset class and risk level:

​Growth Funds:
  1. GoalsGetter Generate Focused Growth Fund
  2. GoalsGetter Harbour Active Growth Fund
  3. GoalsGetter Milford Active Growth Fund
  4. GoalsGetter Nikko AM Growth Fund
  5. GoalsGetter Pathfinder Ethical Growth Fund
  6. GoalsGetter Salt Sustainable Growth Fund

Balanced Funds:
  1. GoalsGetter Generate Balanced Fund
  2. GoalsGetter Harbour Sustainable Impact Fund
  3. GoalsGetter Milford Balanced Fund
  4. GoalsGetter Nikko AM Balanced Fund

Conservative Funds:
  1. GoalsGetter Milford Conservative Fund
  2. GoalsGetter Nikko AM Conservative Fund

​Other Funds:
  1. GoalsGetter Generate Thematic Fund
  2. GoalsGetter Nikko AM ARK Disruptive Innovation Fund
  3. GoalsGetter Nikko AM Global Shares Fund
  4. GoalsGetter Nikko AM SRI Equity Fund
  5. GoalsGetter Nikko AM NZ Cash Fund
  6. GoalsGetter Nikko AM NZ Corporate Bond Fund

Important: Fee Differences
  • Please note that fund fees can differ between what the external fund managers charge and the fees applied when these funds are accessed through the GoalsGetter KiwiSaver Scheme. This is important for investors to understand, as the additional fees charged by GoalsGetter can impact overall returns over the long term.
  • For example, the Harbour Asset Active Growth Fund, when accessed directly, has a management fee of 0.95% p.a. However, through the GoalsGetter platform, the fee increases to 1.15% p.a., a servicing and advice fee of 0.20% per annum which is included in the fund fee.
  • Similarly, the Milford Active Growth Fund has a direct base fee of 1.05% p.a., but when accessed through GoalsGetter, this increases to 1.25% p.a.. In addition to this base fee, the Milford Active Growth Fund also includes a performance fee, which is charged when the fund outperforms its benchmark. Performance fees can add significant costs during periods of strong market returns, as they are calculated as a percentage of the excess returns generated by the fund.
  • These differences in fees highlight the importance of understanding how costs can vary based on the platform used to access investments. While GoalsGetter provides a unique advantage of combining multiple funds into a single KiwiSaver portfolio, including some funds that are not usually available to KiwiSaver investors, the trade-off is higher fees compared to directly investing with fund managers. Over time, even small differences in fees can compound and affect the overall growth of your KiwiSaver savings.
  • For investors considering the GoalsGetter KiwiSaver Scheme, it’s essential to weigh the benefits of its flexibility and fund selection against the higher fee structure. Comparing the long-term cost implications of these fees with the potential for higher returns and the convenience offered by GoalsGetter can help determine if it aligns with your investment goals.

MoneyHub Founder Christopher Walsh shares his comments around single-fund KiwiSaver schemes vs multi-fund self-select platforms such as the GoalsGetter KiwiSaver Scheme, InvestNow KiwiSaver, SuperLife, Kernel KiwiSaver and Sharesies KiwiSaver:

"When you put 100% of your KiwiSaver balance into a single fund managed by one provider, you place all your eggs in one basket. While that appears to be the status quo within KiwiSaver, it's arguably a significant risk for actively managed funds if the fund underperforms or the fund manager makes poor decisions. KiwiSaver is a long-term investment, but by going 'all in' on one fund, you're relying entirely on a single strategy's success - or failure.

What makes platforms like the GoalsGetter KiwiSaver Scheme, InvestNow KiwiSaver, and, to a lesser extent, Sharesies KiwiSaver so powerful is the freedom they offer to spread your investments across multiple funds and managers. This means you're not locked into one fund manager's investment strategy. Instead, you can diversify by asset class, geographic focus, or investment style, significantly reducing the risk of being overexposed to a single market or management approach.

Self-select platforms let you grow your KiwiSaver balance with diversification, which is helpful for anyone preferring actively managed funds. By doing so, you can allocate a specific percentage to growth funds from the likes of Milford and Pathfinder (and other funds beyond those). If you want a mix of growth, ethical, and balanced funds, self-selecting KiwiSaver schemes let you do that and avoid the single fund strategy, which has you relying on one investment team to get it year after year.

KiwiSaver isn't just about growing your money - it's about protecting it; self-select platforms give you control, choice, and the tools to manage risk”.
Christopher Walsh
MoneyHub Founder

GoalsGetter KiwiSaver Scheme vs InvestNow KiwiSaver Comparison of Fees and Value

GoalsGetter is one of very few KiwiSaver schemes that lets you select a range of funds from different fund managers. Our view is that only the InvestNow KiwiSaver platform is similar to what GoalsGetter offers, and six funds crossover. We compare the key differences in fees and what this means in the long term for investors.

Fee Comparison
  • Our table below clearly shows the fee differences between GoalsGetter and InvestNow for several comparable funds from managers such as Milford, Pathfinder, Salt and Harbour Asset Management.
  • Using a $50,000 KiwiSaver balance as a benchmark, the annual fee differences are calculated between having the fund with GoalsGetter vs InvestNow.
  • While GoalsGetter typically charges higher fees, these costs reflect the platform's focus on providing access to some of New Zealand's most well-regarded funds.
  • InvestNow offers lower fees for similar funds, making it an attractive option for fee-conscious investors. The fee difference for a $50,000 balance ranges between $45 and $85 per year.
  • However, this fee difference (in dollar terms) assumes 100% of the $50,000 balance is allocated to one fund, whereas investors in GoalsGetter will likely diversify into other funds not available on InvestNow KiwiSaver.
Fund Name Management Fee - GoalsGetter (%) Performance Fee - GoalsGetter (%) Estimated Total - GoalsGetter Management Fee - InvestNow (%) Performance Fee - InvestNow (%) Estimated Total Fees - InvestNow KiwiSaver Fee Difference per Year on a $50,000 KiwiSaver balance
Harbour Active Growth Fund 1.15 0 1.15 1.05 0 1.05 $50.00
Milford Active Growth Fund 1.25 0.15 1.4 1.2 0.1 1.3 $50.00
Pathfinder Ethical Growth Fund 1.5 0 1.5 1.33 0 1.33 $85.00
Salt Sustainable Growth Fund 1.28 0 1.28 1.11 0 1.11 $85.00
Milford Balanced Fund 1.25 0.01 1.26 1.06 0.11 1.17 $45.00
Milford Conservative Fund 1.05 0 1.05 0.85 0.1 0.95 $50.00
Strengths of GoalsGetter
  • The GoalsGetter KiwiSaver Scheme offers a curated selection of top-performing funds from well-known names like Generate, Salt, Pathfinder, Harbour Asset Management, and Nikko AM.
  • These funds are recognised for their strong performance history and expert fund management, with Generate funds not available via InvestNow.
  • GoalsGetter also offer sustainable and ethical investing, with options like the Salt Sustainable Growth Fund and Pathfinder Ethical Growth Fund.

Strengths of InvestNow
  • InvestNow provides low-cost access to quality funds, appealing to fee-sensitive investors who want to maximise their KiwiSaver balance over the long term.
  • The platform has slightly lower fees and a wider range of funds, making it a popular choice for cost-conscious investors comfortable self-selecting from InvestNow's 40+ KiwiSaver fund options.

Overall, our comparison ultimately reveals a trade-off between the platforms:
  • GoalsGetter appeals to anyone looking for top-performing funds, such as the Generate Focus Growth Fund, and is willing to pay higher fees for active management and sustainable investment choices.
  • InvestNow is better suited for fee-conscious investors who are comfortable self-managing their KiwiSaver portfolios and want access to a broader range of funds at a lower cost.

Who is the GoalsGetter KiwiSaver Scheme Suited To?

The GoalsGetter KiwiSaver Scheme offers a unique approach to KiwiSaver investing, comparable in some ways to the InvestNow KiwiSaver scheme. It provides the flexibility to select and blend KiwiSaver and non-KiwiSaver funds from top-performing fund managers, giving you the opportunity to diversify your KiwiSaver exposure beyond a single fund or manager. This tailored approach empowers you to create a KiwiSaver portfolio that aligns with your specific financial goals and risk tolerance.

We believe this flexibility is a significant advantage because each fund operates with its own distinct investment strategy, objectives, and asset allocations. This diversity means that no single fund will suit everyone, but the variety ensures there’s something for every type of investor. By offering access to multiple high-quality funds, GoalsGetter caters to a broad audience, allowing investors to take control of their KiwiSaver journey and craft a personalised strategy for long-term growth.
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Standout Features:
  • The GoalsGetter KiwiSaver Scheme lets investors create their own portfolio of investments by choosing any combination of any of the GoalsGetter KiwiSaver Scheme funds.
  • 18 funds that offer a sliding scale of risk and return, clearly defined in investor statements.

Be aware:
  1. As with any investment, markets go up and down. The Dotcom bubble in the early 2000s sank global sharemarkets, as did the 2008 Global Financial Crisis. While many global sharemarkets are now at record highs, this is no guarantee of future earnings.​

8 Must-Know GoalsGetter KiwiSaver Scheme Facts

The GoalsGetter KiwiSaver Scheme (formerly the Nikko AM KiwiSaver Scheme, which started in 2018) is one of the smaller KiwiSaver schemes around

The GoalsGetter KiwiSaver Scheme has has around $85 million in funds under management (as at 30 November 2024) which represents a tiny fraction of one percent of the total KiwiSaver investments. It's too early to see if KiwiSaver members will embrace the fund manager given the choice in the market. 

No matter what your employer's preferred KiwiSaver provider or fund is, you are entitled to select the GoalsGetter KiwiSaver Scheme as your KiwiSaver

Your employer may offer another KiwiSaver provider as their preferred provider, but you are free to choose the GoalsGetter KiwiSaver Scheme as your provider if you feel it's right for you. ​You don't have to be a client of Nikko AM or GoalsGetter (the wealth management platform) either - the scheme is available to everyone.

GoalsGetter KiwiSaver Scheme has a range of fees, with growth-orientated funds costing the most

No matter how many funds you invest in, as a GoalsGetter KiwiSaver Scheme member, you'll pay two fees:
  • 0.40% to 1.61% p.a. of your KiwiSaver balance per year, depending on your fund, which represents the management and administration fees.
  • $30 per year, which is the membership fee for being in the GoalsGetter KiwiSaver scheme.

If you want to contribute to your fund at a level above your fixed salary contribution, you can do this via the online banking or direct debit. If you stop contributing, you will still pay both fees.

Distributions your fund receives are reinvested, meaning more cash is invested on your behalf

Many of the GoalsGetter KiwiSaver Scheme funds invest in shares, and many will pay dividends. These cash payments represent the profits from companies returning it to the shareholders, i.e. you. When a company declares a dividend, your fund will receive money, and it is re-invested into more shares, growing the value of your fund. Despite being a cash payment, and as is the case with all KiwiSaver funds, there is no option to take this money as cash until you turn 65. 

All of the GoalsGetter KiwiSaver Scheme funds are actively managed, with pre-defined investment objectives

All the funds available are actively managed, some by Nikko AM and others by external managers such as Milford, Pathfinder and Salt. Each fund has its own key personnel, tasked with the responsibility of portfolio management and analysis. Each fund manager will then select specific investments it sees as undervalued, anticipating that in time, the value of the investment will grow and ultimately make a profit for the fund.

How does this work in practice?
  • Each GoalsGetter KiwiSaver Scheme fund and its respective investment team follows the agreed-upon target investment mix. For example, the allocation to growth assets such as shares in the GoalsGetter Nikko AM Growth Fund is 80%. This allows the fund manager to invest up to 80% of fund's assets into anything that is 'equities', e.g. shares in local and international sharemarkets.
  • The manager can use the allocation to diversify into many investments. As international equities are not without its risks, investment managers will diversify and purchase many different international equities. Recent favourites across all KiwiSaver schemes have included shares in Amazon.com, Microsoft, Apple, Alphabet and NVIDIA.
  • As market conditions change, the investment manager buys and sells individual investments as they see fit.
  • Important: Past fund performance is no guarantee of future results; what you ultimately invest in will be determined by your level of comfort with a fund. ​

​Signing up to the GoalsGetter KiwiSaver Scheme isn't complicated, and you are not limited to only one fund

Signing up is easy, and you can create your own portfolio of investments by choosing any combination of the funds. This means you can allocate 20% of your money to one fund, 40% to another, and 10% to another two, giving you diversity. The website allows you to compare funds side by side using a number of criteria including asset type, fees, risk and returns.

The performance data is easy to follow, and updated regularly

​Fund performance details are published on the Nikko AM website and GoalsGetter website. Unit prices, which track the performance, are updated daily. Members can log in and can see the performance of their investment daily.

Our Conclusion​

  • The GoalsGetter KiwiSaver Scheme offers a compelling choice for those seeking flexibility and control over their KiwiSaver investments.
  • With the ability to select from 18 funds and create a personalised portfolio, GoalsGetter caters to investors who want a hands-on approach to managing their KiwiSaver account.
  • This scheme’s diversity of fund managers - including names like Milford, Pathfinder, Generate, Salt and Harbour Asset Management - means access to a broad spectrum of strategies and asset classes.
  • However, as an actively managed scheme, GoalsGetter comes with higher fees compared to passive options like Simplicity or Kernel. While these fees reflect the active management and potential for higher returns, they may not appeal to cost-sensitive investors.
  • Additionally, the scheme’s relatively small size and limited online tracking tools may deter those who prioritise scale or user experience.
  • Ultimately, choosing a KiwiSaver provider needs consideration. The GoalsGetter scheme is a solid option for investors who are confident in navigating fund options and prioritise personalised portfolio construction. ​
Do you have experience with GoalsGetter KiwiSaver Scheme that you would like to share with our readers? Email our research team who would be delighted to hear from you. 

How does the GoalsGetter KiwiSaver Scheme compare with other options?