Smartshares Limited
Balanced Fund
JMI Wealth KiwiSaver SchemeBalanced
What the provider says about this fund
Aims to provide a medium level of capital growth over the medium to long term (at least 5 years). The fund invests similar proportions in income and growth assets.
1-year return
7.11%
5-year return p.a.
3.83%
Total annual fee
1.35%
Fund size ($m)
3.5
Members
69
Inception date
24 November 2020
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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7
Lower riskHigher risk
Investment mix
Growth assets
62.84%
Income assets
37.16%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 21.83% | 20.00% | 13.93% |
| Cash and equivalents | 6.16% | 5.00% | 7.91% |
| Commodities | 0.00% | 0.00% | 0.17% |
| International bonds | 13.24% | 17.00% | 19.39% |
| International shares | 32.08% | 33.00% | 35.53% |
| Listed property | 4.77% | 3.50% | 2.24% |
| New Zealand bonds | 17.76% | 18.00% | 18.91% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.46% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Schroder Sustainable Global Core PIE Fund Hedged | Shares | International Equities | NZ | 8.82% |
| 2 | NZD Cash Account (ANZ Bank) | Cash | Cash and Cash Equivalents | NZ | 5.54% |
| 3 | Schroder Sustainable Global Core PIE Fund | Shares | International Equities | NZ | 5.40% |
| 4 | Amova Global Bond Fund | Bonds | International Fixed Interest | NZ | 5.13% |
| 5 | Amova NZ Bond Fund | Bonds | New Zealand Fixed Interest | NZ | 4.42% |
| 6 | Salt Global Listed Infrastructure Fund | Other | Other | NZ | 4.16% |
| 7 | Capital International Fund - Capital Group New Perspective Fund Lux | Shares | International Equities | LU | 3.58% |
| 8 | Milford Trans Tasman Bond Fund | Bonds | New Zealand Fixed Interest | NZ | 3.46% |
| 9 | IShares MSCI EM IMI Screened UCITS ETF | Shares | International Equities | IE | 2.82% |
| 10 | Mortgage Passthrough TBA | Bonds | International Fixed Interest | US | 2.80% |
Fees
1.35% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.93% | $279 | 0.77% |
| Other fees | 0.30% | $90 | 0.09% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.35% | $405 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2022 | 1.74% | 0.77% |
| 31 March 2023 | -3.55% | -2.77% |
| 31 March 2024 | 10.85% | 10.89% |
| 31 March 2025 | 3.58% | 4.36% |
| 31 March 2026 | 7.11% | 6.36% |
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 |