What is the Milford Active Growth fund in 2026 & is it right for you?

If you’ve been looking into growth based KiwiSaver options, you’ve probably come across the Milford Active Growth Fund. In 2025, it continued to be one of the more well-known growth/aggressive KiwiSaver funds, and many Kiwis ask me whether it’s a good fit for their situation. The truth is that a fund like this can work incredibly well for the right person - but it can also be completely wrong if your timeframe or goals don’t match the level of risk.

I do work closely with Milford and have numerous clients using this Fund.

How does the Milford Active Growth fund actually work?

The Milford Active Growth Fund invests heavily in growth assets - mainly shares, both in New Zealand and overseas. Because it’s actively managed, Milford’s investment team makes decisions day-to-day about what to buy or sell, rather than simply tracking an index. Active management means the fund aims to outperform over time, but it also means returns can move around more in the short term. Understanding that volatility is key, especially for anyone planning to use KiwiSaver in the next few years.

Is a growth or aggressive fund right for you in 2025?

A fund like Milford Active Growth is generally suited to people with a longer investment runway - typically eight years or more. If you’re saving for retirement and you’re comfortable with market ups and downs, it can be a strong option to consider. But if you’re planning a first-home withdrawal soon, a growth based fund can carry too much short-term risk. A single downturn at the wrong time can have a real impact when you’re about to use that money.

Should you choose Milford just because it has a strong reputation?

Milford is a well-respected provider with a solid team and a strong brand presence in New Zealand. But choosing a KiwiSaver fund purely based on past reputation isn’t enough on its own. Every provider - including Milford, Generate, Pathfinder, and the banks - has strengths and weaknesses depending on your goals, your timeframe, and your risk profile. The right choice isn’t about who’s “best”; it’s about who’s best for you. Personally.

What should you look at before joining the Milford active growth fund?

When you’re comparing funds, you want to look at more than just recent returns. Check the fund’s objectives, the level of risk, the asset mix, the fee structure, and the investment philosophy. More importantly, look at whether these things line up with your life stage. The wrong fund type - even from a great provider - can cost you thousands over time or expose you to unnecessary risk before a big goal.

Not sure if Milford’s active growth fund fits your goals?

If you’re weighing up Milford against other KiwiSaver options, the easiest starting point is to complete my KiwiSaver Knowledge Quiz. It doesn’t give you advice directly - it simply gathers the info I need before we sit down so I can give you proper, personalised guidance:

👉 https://www.solidsteeleadvice.co.nz/testkiwiaverknowledge

Simple Steps. Solid Results

Written by Cameron Steele, KiwiSaver Specialist & Financial Adviser based in Christchurch, New Zealand.