Eriksens Master Trust Survey
The Eriksens Master Trust survey reports on the performance of the leading New Zealand wholesale (employer) investment funds. Master trusts give smaller employers a cost-effective way of providing their employees with access to superannuation. The survey is updated at the end of every calendar quarter.
If you wish to receive a copy of this survey regularly or have other comments about it please email us. Past surveys in Adobe Acrobat (.pdf) format may be downloaded from the links below.
PIEs and the Master Trust Survey
Master Trust Surveys from 31 December 2007 onwards include returns from PIE compliant funds.
Deciding how the PIE returns should be reported has caused much discussion, both within Eriksens and with master trust providers. A major issue has been that returns gross of tax and net of fees have been available for all PIEs, but not all can provide tax paid returns. This has led to suggestions that we should report PIEs gross of tax and non-PIEs net of tax.
We have decided against this but continue to show returns net of all fees, expenses and tax so that we can continue to show returns over 1, 2, 3, 4 and 5 year periods and to allow continued comparison between PIE and non-PIE funds. Since the greater proportion of employer master trust members will be taxed at 33% on their returns, all of the PIE returns we show are at a 33% tax rate. Note the average full-time wage exceeds $50,000 p.a., well short of the $38,000 income which qualifies for the 19.5% rate.
In our discussions we have noted considerable differences between how different providers are reporting PIE returns. Over time we expect some consistency to emerge and may change our format later to conform with the consensus.
Complete Surveys – Results and Commentaries – pdfs
| 1997 | March | June | Sept | Dec |
| 1998 | March | June | Sept | Dec |
| 1999 | March | June | Sept | Dec |
| 2000 | March | June | Sept | Dec |
| 2001 | March | June | Sept | Dec |
| 2002 | March | June | Sept | Dec |
| 2003 | March | June | Sept | Dec |
| 2004 | March | June | Sept | Dec |
| 2005 | March | June | Sept | Dec |
| 2006 | March | June | Sept | Dec |
| 2007 | March | June | Sept | Dec |
| 2008 | March | June | Sept | Dec |
| 2009 | March | June | Sept | Dec |
| 2010 | March | June | Sept | Dec |
| 2011 | March | June | Sept | Dec |
| 2012 | March | June | Sept | Dec |
| 2013 | March |
Survey Results only – Excel Format
The results of recent surveys are also available in Excel format.
| 2004 | March | June | Sept | Dec |
| 2005 | March | June | Sept | Dec |
| 2006 | March | June | Sept | Dec |
| 2007 | March | June | Sept | Dec |
| 2008 | March | June | Sept | Dec |
| 2009 | March | June | Sept | Dec |
| 2010 | March | June | Sept | Dec |
| 2011 | March | June | Sept | Dec |
| 2012 | March | June | Sept | Dec |
| 2013 | March |