Mercer (N.z.) Limited
Moderate Fund
New Zealand Defence Force KiwiSaver SchemeBalanced
What the provider says about this fund
Invests mainly in defensive assets such as fixed interest and cash, with about 40% invested in growth assets such as shares and real assets. May be suitable for investors who want to invest in a broad mix of assets and who are comfortable with a higher degree of volatility in returns than can be expected from the Conservative fund.
1-year return
5.98%
5-year return p.a.
3.01%
Total annual fee
0.73%
Fund size ($m)
9.3
Members
448
Inception date
9 October 2015
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
1
2
3
4
5
6
7
Lower riskHigher risk
Investment mix
Growth assets
40.10%
Income assets
59.90%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 10.33% | 10.50% | 13.93% |
| Cash and equivalents | 12.41% | 12.00% | 7.91% |
| International bonds | 27.41% | 29.50% | 19.39% |
| International shares | 25.87% | 25.50% | 35.53% |
| Listed property | 1.95% | 2.00% | 2.24% |
| New Zealand bonds | 20.08% | 18.50% | 18.91% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | New Zealand Government Bond 0.25% 15/05/2028 | Bonds | New Zealand Fixed Interest | NZ | 2.02% |
| 2 | New Zealand Government Bond 3.00% 20/04/2029 | Bonds | New Zealand Fixed Interest | NZ | 1.97% |
| 3 | New Zealand Government Bond 3.50% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 1.91% |
| 4 | New Zealand Government Bond 1.50% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.87% |
| 5 | New Zealand Government Bond 4.50% 15/05/2030 | Bonds | New Zealand Fixed Interest | NZ | 1.73% |
| 6 | New Zealand Government Bond 1.75% 15/05/2041 | Bonds | New Zealand Fixed Interest | NZ | 1.63% |
| 7 | Fisher & Paykel Healthcare Corporation Limited | Shares | Australasian Equities | NZ | 1.58% |
| 8 | New Zealand Government Bond 2.75% 15/04/2037 | Bonds | New Zealand Fixed Interest | NZ | 1.43% |
| 9 | New Zealand Government Bond 4.25% 15/05/2036 | Bonds | New Zealand Fixed Interest | NZ | 1.34% |
| 10 | New Zealand Government Bond 2.00% 15/05/2032 | Bonds | International Fixed Interest | NZ | 1.33% |
Fees
0.73% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.52% | $156 | 0.77% |
| Other fees | 0.21% | $63 | 0.09% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.73% | $219 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 4.64% | 6.00% |
| 31 March 2018 | 4.54% | 5.23% |
| 31 March 2019 | 3.89% | 5.82% |
| 31 March 2020 | -0.66% | -1.40% |
| 31 March 2021 | 11.31% | 18.18% |
| 31 March 2022 | 0.75% | 0.77% |
| 31 March 2023 | -2.69% | -2.77% |
| 31 March 2024 | 6.91% | 10.89% |
| 31 March 2025 | 4.43% | 4.36% |
| 31 March 2026 | 5.98% | 6.36% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Anna Scott | CEO - Mercer (N.Z.) Ltd | 6 months |
| David Scobie | Principal, Investments New Zealand - Mercer (N.Z.) Ltd | 2 years, 8 months |
| Del Hart | Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd | 1 month |
| Kylie Willment | Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd | 8 years, 5 months |
| Ross Butler | Chair - Mercer (N.Z.) Ltd | 2 years, 11 months |