Research Library

Why don’t consumers complain?

FMA research reveals barriers in NZ consumers' complaints process, with insights from CCS 2024 and CES 2022 surveys.

Increased risk profile of KiwiSaver funds 2021-2024

We have observed a dramatic increase in the overall risk categorisation of KiwiSaver funds in recent years. This paper describes the observed increase and discusses potential drivers, including changes to policy settings, investor behaviour, and market volatility. It appears that the observed increase reflects a combination of these factors. Regardless of cause, KiwiSaver has become notably weighted towards higher-risk funds over time.

Good Cents: New research on New Zealanders, savings and debt

Good Cents: Kiwis on Savings and Debt is research issued by the FMA. It looks into New Zealanders' attitudes and behaviours towards savings, debt reduction, and financial guidance.  The research presents a snapshot of how New Zealanders approach their financial balance sheet.

Consumer Confidence Factsheet 2025

A nationwide Consumer Confidence Survey was commissioned by the FMA in 2024, with the aim of gaining a better understanding of New Zealanders’ experiences with financial markets including investments, insurance, KiwiSaver, and financial markets regulation.

Key takeaways from the CrowdStrike event survey

In October 2024, the FMA conducted a survey to see how well financial service providers were prepared for and responded to the CrowdStrike incident.

Consumer Confidence Survey Report

This report is the result of our inaugural Consumer Confidence Survey which asks consumers about their experiences with their financial services provide.

Market Cleanliness in the New Zealand Equity Market

This research report examines the cleanliness of the New Zealand equity market since 2004.

Ease of Doing Business Survey

This research helps us to better understand the impact that our work has on market participants and stakeholders. It informs the way we work and our focus on continuous improvement in our effectiveness and efficiency.

Commercial Real Estate and the Managed Funds Industry Research

Research from the FMA has found most KiwiSaver providers are well placed to manage their exposure to the commercial real estate market.

Understanding Artificial Intelligence in Financial Services Research

This report looks at current and future use of artificial intelligence (AI) within the financial services sector.

FMA Research Publication: Understanding Fairness in Financial Services

The core purpose of the Financial Markets Authority (FMA) is to promote and facilitate fair, efficient, and transparent financial markets and to promote confident and informed participation in financial services. This research report focuses on understanding fairness in financial services.

KiwiSaver Statements survey

KiwiSaver statements survey to understand members’ engagement with their annual statement and attitudes towards KiwiSaver.

Consumer Experience with the Financial Sector Survey

The Consumer Experience with the Financial Sector survey is our inaugural, nationally representative survey of New Zealand consumers. The FMA commissioned the survey to gain a comprehensive understanding of consumer experiences with the financial sector. The research reveals insights into the mindset and motivations of consumers as they manage their money and deal with financial services firms.

Investor confidence report – annual results

The 2022 Investor Confidence Survey found 66% of investors are confident in the country’s financial markets, down from 72% in 2021. View all annual Investor Confidence reports on this page.

Ethical Investment Journey Research

This report contains the findings from a qualitative study interviewing a range of New Zealanders about their experience of and journey to buying an ethical* investment.

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