Local Government Superannuation Trustee Limited
Automatic Fund (Age 60)
Supereasy KiwiSaver Superannuation SchemeBalanced
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
6.82%
5-year return p.a.
3.02%
Total annual fee
0.50%
Fund size ($m)
15.2
Members
202
Inception date
1 July 2007
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
Investment mix
Growth assets
54.61%
Income assets
45.39%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 12.55% | 12.50% | 13.93% |
| Cash and equivalents | 5.42% | 5.00% | 7.91% |
| International bonds | 20.12% | 20.00% | 19.39% |
| International shares | 26.89% | 27.50% | 35.53% |
| Listed property | 15.17% | 15.00% | 2.24% |
| New Zealand bonds | 19.85% | 20.00% | 18.91% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | HUNTER Global Fixed Interest Fund | Bonds | International Fixed Interest | NZ | 20.12% |
| 2 | HARBOUR NZ Core Fixed Interest Fund | Bonds | New Zealand Fixed Interest | NZ | 19.85% |
| 3 | MERCER Overseas Shares Index Portfolio | Shares | International Equities | NZ | 18.23% |
| 4 | HARBOUR Real Estate Investment Fund | Property | Listed Property | NZ | 15.17% |
| 5 | HARBOUR NZ Shares Index Fund | Shares | Australasian Equities | NZ | 12.55% |
| 6 | MERCER Hedged Overseas Shares Index Portfolio | Shares | International Equities | NZ | 8.66% |
| 7 | HARBOUR Enhanced Cash Fund | Cash | Cash and Cash Equivalents | NZ | 5.42% |
Fees
0.50% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.32% | $96 | 0.77% |
| Other fees | 0.00% | $0 | 0.09% |
| Membership fees | 0.18% | $54 | 0.05% |
| Total combined fees | 0.50% | $150 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 5.01% | 6.00% |
| 31 March 2018 | 4.92% | 5.23% |
| 31 March 2019 | 8.06% | 5.82% |
| 31 March 2020 | -2.74% | -1.40% |
| 31 March 2021 | 17.07% | 18.18% |
| 31 March 2022 | 0.31% | 0.77% |
| 31 March 2023 | -4.00% | -2.77% |
| 31 March 2024 | 8.59% | 10.89% |
| 31 March 2025 | 3.40% | 4.36% |
| 31 March 2026 | 6.82% | 6.36% |
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 |