Milford Funds Limited
Milford KiwiSaver Moderate Fund
Milford KiwiSaver PlanBalanced
What the provider says about this fund
The Fund’s objective is to provide moderate returns and capital growth, after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of four years. It is a diversified fund that primarily invests in fixed interest securities with a significant allocation to equities.
1-year return
3.23%
5-year return p.a.
3.63%
Total annual fee
0.95%
Fund size ($m)
307.7
Members
6,964
Inception date
27 March 2020
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Lower riskHigher risk
Investment mix
Growth assets
36.64%
Income assets
63.36%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 10.86% | 15.00% | 13.93% |
| Cash and equivalents | 12.66% | 9.00% | 7.91% |
| International bonds | 27.52% | 36.00% | 19.39% |
| International shares | 20.56% | 19.00% | 35.53% |
| Listed property | 4.05% | 6.00% | 2.24% |
| New Zealand bonds | 23.18% | 15.00% | 18.91% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | NZD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | NZ | 8.11% |
| 2 | New Zealand Government 4.5% 15/05/2035 | Bonds | New Zealand Fixed Interest | NZ | 2.97% |
| 3 | USD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | US | 1.67% |
| 4 | New Zealand Government 2.5% 20/09/2035 | Bonds | New Zealand Fixed Interest | NZ | 1.64% |
| 5 | New Zealand Local Government Funding Agency Ltd 3.5% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 1.55% |
| 6 | AUD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | AU | 1.08% |
| 7 | New Zealand Government 3.5% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 0.97% |
| 8 | SSE Plc | Shares | International Equities | GB | 0.93% |
| 9 | NZD Cash Call Account (BNZ Bank) | Cash | Cash and Cash Equivalents | NZ | 0.92% |
| 10 | New Zealand Government 1.5% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 0.90% |
Fees
0.95% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.94% | $282 | 0.77% |
| Other fees | 0.01% | $3 | 0.09% |
| Performance fees | 0.00% | $0 | 0.00% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.95% | $285 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2021 | 14.77% | 18.18% |
| 31 March 2022 | 1.94% | 0.77% |
| 31 March 2023 | 0.13% | -2.77% |
| 31 March 2024 | 8.07% | 10.89% |
| 31 March 2025 | 4.94% | 4.36% |
| 31 March 2026 | 3.23% | 6.36% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Mark Riggall | Portfolio Manager | 11 years, 3 months |
| Paul Morris | Portfolio Manager | 10 years, 2 months |