Press Release – Financial Markets Authority The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – is urging young New Zealanders to check they’re in the right KiwiSaver fund. The call follows data indicating over 12,000 KiwiSaver members aged 26-35 years old are sitting in lower risk or conservative funds after switching from higher growth funds during COVID-19 market volatility last year. Data supplied to the FMA by 11 KiwiSaver providers shows around 12,700 younger KiwiSaver members switched from growth to conservative funds between February and April last year and most of them are still sitting in conservative funds, which may not be aligned with their long-term savings goals.