Local Government Superannuation Trustee Limited
Automatic Fund (Age 40)
Supereasy KiwiSaver Superannuation SchemeGrowth
What the provider says about this fund
The Automatic Fund is a life cycle investment option. Each month, between the ages of 20 and 80, the Automatic Fund will automatically and smoothly change a member’s target investments to a more conservative mix. Its objective is to achieve an improved long term outcome by accepting a higher investment risk and return volatility in the early stages of a member’s working life as a trade-off for potentially higher returns.
1-year return
9.37%
5-year return p.a.
5.36%
Total annual fee
0.50%
Fund size ($m)
4.3
Members
135
Inception date
1 July 2007
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
Investment mix
Growth assets
74.61%
Income assets
25.39%
| Asset class | Actual | Target | Average for Growth funds |
|---|---|---|---|
| Australasian shares | 17.65% | 17.50% | 20.20% |
| Cash and equivalents | 5.26% | 5.00% | 6.14% |
| International bonds | 12.13% | 12.00% | 8.75% |
| International shares | 44.26% | 45.00% | 51.02% |
| Listed property | 12.70% | 12.50% | 3.65% |
| New Zealand bonds | 7.99% | 8.00% | 7.35% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | MERCER Overseas Shares Index Portfolio | Shares | International Equities | NZ | 33.20% |
| 2 | HARBOUR NZ Shares Index Fund | Shares | Australasian Equities | NZ | 17.65% |
| 3 | HARBOUR Real Estate Investment Fund | Property | Listed Property | NZ | 12.70% |
| 4 | HUNTER Global Fixed Interest Fund | Bonds | International Fixed Interest | NZ | 12.13% |
| 5 | MERCER Hedged Overseas Shares Index Portfolio | Shares | International Equities | NZ | 11.06% |
| 6 | HARBOUR NZ Core Fixed Interest Fund | Bonds | New Zealand Fixed Interest | NZ | 7.99% |
| 7 | HARBOUR Enhanced Cash Fund | Cash | Cash and Cash Equivalents | NZ | 5.26% |
Fees
0.50% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Growth funds |
|---|---|---|---|
| Management fees | 0.32% | $96 | 0.92% |
| Other fees | 0.00% | $0 | 0.10% |
| Membership fees | 0.18% | $54 | 0.05% |
| Total combined fees | 0.50% | $150 | 1.07% |
Yearly returns
| Year ending | Fund return | Average for Growth funds |
|---|---|---|
| 31 March 2017 | 7.12% | 8.61% |
| 31 March 2018 | 6.60% | 7.38% |
| 31 March 2019 | 9.15% | 7.03% |
| 31 March 2020 | -3.28% | -3.37% |
| 31 March 2021 | 23.00% | 28.64% |
| 31 March 2022 | 2.49% | 2.17% |
| 31 March 2023 | -2.74% | -3.69% |
| 31 March 2024 | 12.85% | 14.25% |
| 31 March 2025 | 4.80% | 3.98% |
| 31 March 2026 | 9.37% | 7.60% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Basil Morrison | LGST Chairman | 14 years, 10 months |
| Charlie Howe | Chief Executive Officer (Civic Financial Services) | 4 years, 7 months |
| Glenn Watkin | Chief Financial Officer (Civic Financial Services) | 7 years, 2 months |
| Grant Hassell | Licensed Independent Trustee | 2 years, 4 months |