Smartshares Limited
Conservative Fund
JMI Wealth KiwiSaver SchemeConservative
What the provider says about this fund
Aims to protect capital and provide a moderate return over the medium term (at least 3 years). The fund invests mostly in income assets, with a modest allocation to growth assets
1-year return
4.18%
5-year return p.a.
2.14%
Total annual fee
1.22%
Fund size ($m)
0.8
Members
15
Inception date
24 November 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
30.42%
Income assets
69.58%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 11.36% | 10.00% | 5.79% |
| Cash and equivalents | 8.88% | 5.00% | 20.22% |
| Commodities | 0.00% | 0.00% | 0.07% |
| International bonds | 25.97% | 30.00% | 27.47% |
| International shares | 11.42% | 15.00% | 14.45% |
| Listed property | 3.79% | 2.00% | 1.47% |
| New Zealand bonds | 34.73% | 35.00% | 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 | Amova Global Bond Fund | Bonds | International Fixed Interest | NZ | 11.27% |
| 2 | NZD Cash Account (ANZ Bank) | Cash | Cash and Cash Equivalents | NZ | 9.01% |
| 3 | Amova NZ Bond Fund | Bonds | New Zealand Fixed Interest | NZ | 8.84% |
| 4 | Mortgage Passthrough TBA | Bonds | International Fixed Interest | US | 5.07% |
| 5 | Milford Trans Tasman Bond Fund | Bonds | New Zealand Fixed Interest | NZ | 4.65% |
| 6 | Salt Global Listed Infrastructure Fund | Other | Other | NZ | 3.85% |
| 7 | Capital International Fund - Capital Group New Perspective Fund Lux | Shares | International Equities | LU | 2.46% |
| 8 | Schroder Sustainable Global Core PIE Fund Hedged | Shares | International Equities | NZ | 2.46% |
| 9 | IShares MSCI EM IMI Screened UCITS ETF | Shares | International Equities | IE | 2.21% |
| 10 | New Zealand Government 4.50% 15/05/2030 | Bonds | New Zealand Fixed Interest | NZ | 1.34% |
Fees
1.22% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.80% | $240 | 0.70% |
| Other fees | 0.30% | $90 | 0.11% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.22% | $366 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2022 | -1.12% | -0.64% |
| 31 March 2023 | -2.46% | -1.65% |
| 31 March 2024 | 6.77% | 6.61% |
| 31 March 2025 | 3.62% | 3.59% |
| 31 March 2026 | 4.18% | 3.96% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Andrew Kelleher | Director - Shaw and Partners, Select Wealth and Clarity Funds Management | 17 years, 11 months |
| Michael Gray | Investment Strategist - Shaw and Partners | 3 years |
| Stuart Kenneth Reginald Millar | Chief Investment Officer - Smart | 6 years, 10 months |