Koura is one of New Zealand’s newer KiwiSaver providers — a digital-first fund manager that lets members personalise their fund allocation more granularly than traditional growth/balanced/conservative categories allow. It’s an interesting option for engaged members who want more control over how their KiwiSaver is invested.
Disclosure: MoneyBalance may earn a referral fee from Koura. This does not influence our analysis or ratings.
Koura at a Glance
| Feature | Detail |
|---|---|
| Type | Independent, digital-first |
| Default provider | No |
| Investment approach | Passive index + personalised allocation |
| Growth fund fee | ~0.53%–0.68% (depending on allocation) |
| Digital tools | Strong — mobile app, personalisation quiz |
| Ethical option | Limited (some exclusions in underlying funds) |
| Founded | 2019 |
Who Is Koura?
Koura was founded in 2019 with a focus on making KiwiSaver allocation more personalised and accessible. The company’s key differentiator is its fund personalisation model: rather than placing members in a single growth, balanced, or conservative bucket, Koura lets members choose a custom mix of underlying index fund exposures.
Koura is built on passive index investing — using low-cost index funds as the building blocks — with a digital-first interface designed for younger, mobile-native members.
How Koura Works: Personalised Allocation
When you join Koura, you complete a brief questionnaire covering:
- Your retirement timeline
- Risk tolerance
- Financial goals (retirement, first home, etc.)
Koura then recommends a personalised fund mix from its underlying index fund range. Members can also manually adjust their allocation if they want more control.
Koura’s underlying fund categories include:
- NZ shares
- Australian shares
- International shares (hedged and unhedged)
- NZ bonds / fixed interest
- International bonds
- Cash
This approach gives members more granularity than most providers’ preset fund types. A member might hold 40% international shares, 20% NZ shares, 20% Australian shares, and 20% bonds — a custom allocation not easily replicated with a standard “balanced” fund label.
Fees
Koura’s fees vary based on fund allocation. Members invested primarily in growth assets (shares) pay a higher percentage than those with more fixed interest and cash.
Indicative fee range:
- Conservative-style allocation: ~0.53%
- Balanced-style allocation: ~0.60%
- Growth-style allocation: ~0.63%–0.68%
These fees are competitive — above Simplicity (0.31%) but below ANZ, ASB, Westpac, and Fisher Funds. For a digital platform with personalisation features, the fee is reasonable.
On a $60,000 balance at 0.65%: approximately $390/year — compared to $186 at Simplicity and $636 at ANZ.
Performance
Koura uses passive index funds as building blocks. Expected returns track the underlying indices minus fees. Because members hold customised allocations, published “fund” returns are less meaningful than for traditional providers — your return depends on your specific mix.
As a rough guide, a growth-weighted Koura allocation would be expected to deliver returns broadly in line with:
- International equity index returns (large component of growth allocations)
- NZ and Australian equity returns
- Bond returns (for defensive allocations)
Over 5 years (indicative), a growth-oriented Koura allocation has delivered approximately 7.5%–9.0% p.a. after fees — competitive with mid-tier active managers and ahead of high-fee banks.
The key variable is your allocation. Members who went heavily international-equity in their Koura allocation benefited from strong global market performance; those with high NZ equity exposure lagged.
Digital Experience
Koura’s digital platform is one of its strongest selling points:
- Mobile app: Clean, functional, with real-time balance and allocation display
- Personalisation quiz: Accessible and intuitive — guides members through allocation decisions
- Rebalancing: Koura rebalances member portfolios to maintain target allocations
- Contribution tracking: Clear display of your contributions vs investment returns
For tech-comfortable members who want to understand and manage their KiwiSaver allocation, Koura’s interface is better than most traditional providers.
Who Koura Suits
Good fit:
- Members who want more control over their specific asset allocation
- Younger members comfortable with a digital-first platform
- Members who want passive index investing with some personalisation
- Members currently with a high-fee bank provider (Koura is meaningfully cheaper)
Less ideal:
- Members who want the absolute lowest fee (Simplicity at 0.31% is cheaper)
- Members seeking active management with a proven track record (Milford or Generate)
- Members who want a dedicated ethical fund (Koura’s ethical options are limited)
- Members who prefer full-service phone/in-branch support
Koura vs Key Competitors
| Provider | Fee (growth) | Approach | 5-yr return (indicative) |
|---|---|---|---|
| Simplicity | 0.31% | Passive index | ~8.2%–8.8% |
| Koura | ~0.65% | Passive index + personalisation | ~7.5%–9.0% (allocation dependent) |
| BNZ | ~0.48% | Passive/blended | ~8.0%–8.5% |
| ANZ | ~1.06% | Active/blended | ~7.2%–7.8% |
Koura sits between Simplicity and mid-range bank providers on fees. Its personalisation advantage is real but comes at a cost premium over pure passive index options like Simplicity or BNZ.
Frequently Asked Questions
Is Koura a good KiwiSaver provider? Yes — particularly for members who value personalised allocation and a modern digital experience. Fees are competitive relative to bank providers. The main trade-off is a higher fee than Simplicity for a broadly similar passive index approach.
How does Koura differ from Simplicity? Both use passive index investing. Simplicity offers three preset funds (growth, balanced, conservative); Koura offers a personalised allocation across multiple underlying indices. Simplicity is cheaper (0.31% vs ~0.65%); Koura offers more granular control.
Can I change my allocation after joining Koura? Yes. You can adjust your fund allocation through the Koura app at any time. Changes take effect at the next rebalancing cycle.
Is Koura regulated and safe? Yes. Koura is a registered KiwiSaver scheme supervised by the Financial Markets Authority (FMA). Member funds are held in trust, separate from Koura’s operating funds.
What to Read Next
- Best KiwiSaver Providers NZ — full provider rankings
- Cheapest KiwiSaver Fund NZ — Simplicity vs Koura on cost
- KiwiSaver Fees Comparison — all providers ranked by fee
- How to Choose a KiwiSaver Fund — fund type selection framework
- Switching KiwiSaver Providers — how to move to Koura
- Bank vs Independent KiwiSaver NZ — the wider provider landscape