Local Government Superannuation Trustee Limited
Automatic Fund (Age 80)
Supereasy KiwiSaver Superannuation SchemeConservative
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
4.40%
5-year return p.a.
1.98%
Total annual fee
0.50%
Fund size ($m)
0.6
Members
9
Inception date
1 July 2007
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
Investment mix
Growth assets
24.87%
Income assets
75.13%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 5.03% | 5.00% | 5.79% |
| Cash and equivalents | 30.70% | 30.00% | 20.22% |
| International bonds | 15.00% | 15.00% | 27.47% |
| International shares | 9.76% | 10.00% | 14.45% |
| Listed property | 10.08% | 10.00% | 1.47% |
| New Zealand bonds | 29.43% | 30.00% | 29.28% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | HARBOUR Enhanced Cash Fund | Cash | Cash and Cash Equivalents | NZ | 30.70% |
| 2 | HARBOUR NZ Core Fixed Interest Fund | Bonds | New Zealand Fixed Interest | NZ | 29.43% |
| 3 | HUNTER Global Fixed Interest Fund | Bonds | International Fixed Interest | NZ | 15.00% |
| 4 | HARBOUR Real Estate Investment Fund | Property | Listed Property | NZ | 10.08% |
| 5 | MERCER Overseas Shares Index Portfolio | Shares | International Equities | NZ | 6.25% |
| 6 | HARBOUR NZ Shares Index Fund | Shares | Australasian Equities | NZ | 5.03% |
| 7 | MERCER Hedged Overseas Shares Index Portfolio | Shares | International Equities | NZ | 3.51% |
Fees
0.50% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.32% | $96 | 0.70% |
| Other fees | 0.00% | $0 | 0.11% |
| Membership fees | 0.18% | $54 | 0.05% |
| Total combined fees | 0.50% | $150 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2017 | 0.00% | 3.59% |
| 31 March 2018 | 0.00% | 3.30% |
| 31 March 2019 | 0.00% | 4.43% |
| 31 March 2020 | 0.00% | 1.24% |
| 31 March 2021 | 8.18% | 8.66% |
| 31 March 2022 | 0.00% | -0.64% |
| 31 March 2023 | -2.31% | -1.65% |
| 31 March 2024 | 5.26% | 6.61% |
| 31 March 2025 | 3.51% | 3.59% |
| 31 March 2026 | 4.40% | 3.96% |
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 |