Pie Funds Management Limited
Pie KiwiSaver Conservative Fund
Pie KiwiSaver SchemeConservative
What the provider says about this fund
The Pie KiwiSaver Conservative Fund seeks to preserve members’ capital with modest capital growth over a period exceeding 3 years. The Fund invests primarily in fixed interest and cash, with an allocation to equities, directly and/or through investment in other funds also managed by Pie Funds.
1-year return
7.09%
5-year return p.a.
1.77%
Total annual fee
0.69%
Fund size ($m)
31.1
Members
877
Inception date
1 August 2018
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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7
Lower riskHigher risk
Investment mix
Growth assets
24.79%
Income assets
75.21%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 4.80% | 6.00% | 5.79% |
| Cash and equivalents | 22.29% | 25.00% | 20.22% |
| Commodities | 0.00% | 0.00% | 0.07% |
| International bonds | 31.45% | 35.00% | 27.47% |
| International shares | 19.99% | 19.00% | 14.45% |
| Listed property | 0.00% | 0.00% | 1.47% |
| New Zealand bonds | 21.48% | 15.00% | 29.28% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.49% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | BNZ Call Account - NZD | Cash | Cash and Cash Equivalents | NZ | 13.15% |
| 2 | KIWI Term Deposit 3.68% 31/07/2025 31/07/2026 | Cash | Cash and Cash Equivalents | NZ | 2.41% |
| 3 | JPM Call Account - USD | Cash | Cash and Cash Equivalents | AU | 2.40% |
| 4 | KIWI Term Deposit 3.33% 03/10/2025 05/10/2026 | Cash | Cash and Cash Equivalents | NZ | 2.39% |
| 5 | JPM Call Account - AUD | Cash | Cash and Cash Equivalents | AU | 2.25% |
| 6 | BZLNZ 4.354% 28/01/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.83% |
| 7 | Watercare Services Ltd 3.847% 30/09/2030 | Bonds | New Zealand Fixed Interest | NZ | 1.72% |
| 8 | MCYNZ 5.17% 01/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 1.48% |
| 9 | RABOBK 4.398% 20/02/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.47% |
| 10 | Johnson & Johnson 3.35% 26/02/2037 | Bonds | International Fixed Interest | US | 1.30% |
Fees
0.69% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.69% | $207 | 0.70% |
| Other fees | 0.00% | $0 | 0.11% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.69% | $207 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2020 | 3.15% | 1.24% |
| 31 March 2021 | 11.48% | 8.66% |
| 31 March 2022 | -6.22% | -0.64% |
| 31 March 2023 | -1.16% | -1.65% |
| 31 March 2024 | 8.31% | 6.61% |
| 31 March 2025 | 4.32% | 3.59% |
| 31 March 2026 | 7.09% | 3.96% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Michael Taylor | Executive Director and Chief Investment Officer | 4 years |
| Michelle Lopez | Head of Australasian Equities and Portfolio Manager | 3 years, 2 months |
| Travis Murdoch | Head of Fixed Income andPortfolio Manager | 3 years, 5 months |