This research report examines investor behaviour in the context of New Zealand's KiwiSaver retirement savings scheme, and applies a quantitative approach, using a unique purpose-built KiwiSaver provider annual report database. The KiwiSaver market is still in its infancy, having only started in 2007, however some initial insights can be gained from data analysis; and a framework and direction is established in this report that will aid future research on this topic. In terms of findings, in line with the various international studies on closely related topics, and the economics of investment products, this research report provides early evidence that investors are to some extent chasing higher performance and avoiding higher total expense ratios.