ASB runs six KiwiSaver funds, from NZ Cash to an Aggressive fund with a target of about 94% growth assets. Its fund charges run from 0.35% to 0.75% a year with no flat member fee, its KiwiSaver calculator and advice tool shows how your fund choice and contributions could grow your savings, and you can manage your account in the ASB Mobile Banking app. This is one of our KiwiSaver provider reviews.
ASB KiwiSaver at a Glance
| Detail | ASB KiwiSaver |
|---|---|
| Type | Bank-owned: managed by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank |
| Default provider status | Not selected in the 2021 government review |
| Funds offered | 6 funds |
| Annual fund charge | 0.35% to 0.75% depending on fund |
| Member fee | None |
| Scale | ASB’s PDS says the ASB group helps over 500,000 Kiwis invest |
| Supervisor | Public Trust |
| Regulated by | Financial Markets Authority (FMA) |
| Ethical/ESG option | No dedicated ethical fund; all funds except NZ Cash are RIAA-certified |
ASB’s Fund Range
ASB offers six funds across the risk spectrum. The PDS says ASB manages each fund’s asset allocation and currency hedging over the medium to long term relative to its target investment mix, and names BlackRock Investment Management (Australia) Limited as a portfolio manager.
| Fund | Target growth/income mix | Annual fund charge | Minimum suggested timeframe |
|---|---|---|---|
| NZ Cash | 0% / 100% | 0.35% | No minimum |
| Conservative | 20% / 80% | 0.40% | 3 years |
| Moderate | 36% / 64% | 0.60% | 4 years |
| Balanced | 58% / 42% | 0.65% | 6 years |
| Growth | 78% / 22% | 0.70% | 8 years |
| Aggressive | 94% / 6% | 0.75% | 12 years |
Target mixes (growth = Australasian plus international equities), timeframes and fund charges from the ASB KiwiSaver Scheme PDS dated 21 July 2026. Verify current figures at asb.co.nz/kiwisaver.
ASB’s Aggressive fund targets 20.5% Australasian and 73.5% international equities, the highest growth-asset share in its range in the PDS dated 21 July 2026, so it can be expected to rise and fall further than ASB’s other funds.
For an explanation of what growth and income assets are across all fund types, see KiwiSaver fund types explained.
ASB KiwiSaver Fees
ASB charges each fund’s annual fund charge (0.35% for NZ Cash up to 0.75% for Aggressive, in the table above) and no flat annual member fee, so what you pay is proportional to your balance. At 0.70%, the Growth fund costs about $350 a year on $50,000 and about $700 on $100,000.
ASB’s charges sit beside other providers’ funds in the KiwiSaver fee tables by provider, and the long-run dollar effect of a percentage fee is worked through in KiwiSaver fees explained.
ASB’s Digital Tools
KiwiSaver calculator and advice tool: ASB says its KiwiSaver calculator and advice tool “shows you how changes to your fund choice and contributions could grow your first home or retirement savings” (asb.co.nz, archived January 2026). ASB also has a guided tool to help choose a fund.
Managing your account: Existing ASB customers can join through ASB FastNet Classic or the ASB Mobile Banking app. You can change funds at any time in FastNet Classic or the app, by phoning ASB, or with a paper form. To change your contribution rate, the PDS says to contact your employer, ASB or Inland Revenue.
ASB KiwiSaver Performance
ASB manages each fund’s asset allocation and currency hedging relative to its target mix, so returns depend on those decisions as well as on markets.
With a target of about 94% growth assets, the Aggressive fund carries the most market risk in ASB’s range: in a year when share markets fall, it can be expected to fall further than ASB’s Balanced or Growth funds.
Current 5-year after-fee returns for ASB’s funds, set against other providers’ funds of the same type, are in KiwiSaver fund returns compared.
No Dedicated Ethical Investment Option
ASB does not currently offer a dedicated ESG or ethical KiwiSaver fund. It closed and began winding up the ASB KiwiSaver Scheme Positive Impact Fund on 15 January 2025, after BlackRock announced it would wind up the Global Impact Fund that made up more than half of the fund’s investments. ASB says that, except for the NZ Cash Fund, its KiwiSaver funds are certified by the Responsible Investment Association Australasia (RIAA), but there is no standalone ethical fund on offer.
Providers that do run dedicated ethical funds are compared in ethical KiwiSaver providers compared.
ASB’s Default Provider Status
ASB was not selected as a default provider in the 2021 government review, so people who start a job without choosing a scheme are not allocated to ASB. If you join ASB without choosing a fund, your money goes into the Balanced Fund. The current default providers and how default allocation works are covered in KiwiSaver default providers.
Features and Limitations
Features:
- Fund charges of 0.35% to 0.75% a year
- No flat annual member fee
- Aggressive fund (target about 94% growth assets)
- KiwiSaver calculator and advice tool
- Manage your account in the ASB Mobile Banking app or FastNet Classic
Limitations:
- Returns depend on ASB’s asset-allocation decisions as well as on markets
- No dedicated ethical or ESG fund since the Positive Impact Fund closed
- Lost default provider status in 2021
- Six funds, a narrower range than some providers
Switching from ASB KiwiSaver
Leaving ASB is handled by whichever scheme you join: it requests the balance from ASB for you, and your years of membership still count toward first-home eligibility. Switching KiwiSaver provider, step by step covers the forms and how long it takes.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- The provider's latest fund update: gives the fund's current fees, returns and holdings.
Frequently Asked Questions
How do ASB and ANZ KiwiSaver compare?
ASB’s fund charges run from 0.35% to 0.75% a year and ANZ’s maximum charges from 0.25% to 0.98%, and neither charges a flat member fee. ASB’s Aggressive fund targets about 94% growth assets, and ANZ’s High Growth fund about 95%. Both lost default status in 2021. For a fuller side-by-side, see ANZ vs ASB KiwiSaver.
Can I switch from ASB to another provider without losing my history?
Yes. Switching providers does not reset your years of membership, so the time still counts toward the 3 years needed for the first-home withdrawal.
Does ASB KiwiSaver have an ethical fund?
No. ASB closed and began winding up its Positive Impact Fund on 15 January 2025. Its other funds, except the NZ Cash Fund, are RIAA-certified.
What is ASB’s default fund if I have never chosen one?
If you join without choosing a fund, your money is invested in ASB’s Balanced fund. Check your current fund in the ASB Mobile Banking app or by calling ASB’s KiwiSaver team.
Does ASB offer a first home buyer calculator?
ASB says its KiwiSaver calculator and advice tool shows how changes to your fund choice and contributions could grow your first home or retirement savings. For a detailed breakdown of what goes into your withdrawal amount, see How much can I withdraw from KiwiSaver for my first home?
What happens to my ASB KiwiSaver if I leave New Zealand permanently?
One year or more after permanently emigrating from New Zealand, you can apply to withdraw your KiwiSaver balance. If you move to Australia, the option is instead to transfer it to an Australian complying superannuation fund. Contact ASB or IRD for the current process.
Key Takeaways
- ASB has a 6-fund range including an Aggressive option (target about 94% growth assets)
- Fund charges of 0.35% to 0.75% a year, with no flat member fee
- ASB’s KiwiSaver calculator and advice tool shows how your fund choice and contributions could grow your savings
- ASB did not retain default provider status in the 2021 review; if you join without choosing, you go into the Balanced Fund
- No dedicated ethical or ESG fund since the Positive Impact Fund closed on 15 January 2025; all funds except NZ Cash are RIAA-certified
For a full comparison across NZ providers, see KiwiSaver providers compared (2026) and How to choose a KiwiSaver fund.