Smartshares Limited
Growth Fund
JMI Wealth KiwiSaver SchemeGrowth
What the provider says about this fund
Aims to provide a high level of capital growth over the medium to long term (at least 7 years). The fund invests mostly in growth assets, with a modest allocation to income assets.
1-year return
7.12%
5-year return p.a.
4.97%
Total annual fee
1.41%
Fund size ($m)
10.7
Members
138
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
78.04%
Income assets
21.96%
| Asset class | Actual | Target | Average for Growth funds |
|---|---|---|---|
| Australasian shares | 30.11% | 29.00% | 20.20% |
| Cash and equivalents | 7.84% | 5.00% | 6.14% |
| Commodities | 0.00% | 0.00% | 0.14% |
| International bonds | 8.13% | 10.00% | 8.75% |
| International shares | 45.52% | 48.00% | 51.02% |
| Listed property | 0.00% | 0.00% | 3.65% |
| New Zealand bonds | 6.00% | 5.00% | 7.35% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.70% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Schroder Sustainable Global Core PIE Fund Hedged | Shares | International Equities | NZ | 11.57% |
| 2 | NZD Cash Account (ANZ Bank) | Cash | Cash and Cash Equivalents | NZ | 8.00% |
| 3 | Capital International Fund - Capital Group New Perspective Fund Lux | Shares | International Equities | LU | 6.68% |
| 4 | Schroder Sustainable Global Core PIE Fund | Shares | International Equities | NZ | 6.49% |
| 5 | Amova NZ Bond Fund | Bonds | New Zealand Fixed Interest | NZ | 6.00% |
| 6 | IShares MSCI EM IMI Screened UCITS ETF | Shares | International Equities | IE | 5.00% |
| 7 | Wellington Global Stewards Fund | Shares | International Equities | IE | 2.97% |
| 8 | Amova Global Bond Fund | Bonds | International Fixed Interest | NZ | 2.95% |
| 9 | Salt Global Listed Infrastructure Fund | Other | Other | NZ | 2.41% |
| 10 | Mortgage Passthrough TBA | Bonds | International Fixed Interest | US | 1.79% |
Fees
1.41% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Growth funds |
|---|---|---|---|
| Management fees | 0.99% | $297 | 0.92% |
| Other fees | 0.30% | $90 | 0.10% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.41% | $423 | 1.07% |
Yearly returns
| Year ending | Fund return | Average for Growth funds |
|---|---|---|
| 31 March 2022 | 4.13% | 2.17% |
| 31 March 2023 | -4.06% | -3.69% |
| 31 March 2024 | 14.76% | 14.25% |
| 31 March 2025 | 3.75% | 3.98% |
| 31 March 2026 | 7.12% | 7.60% |
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 |