BT Funds Management (NZ) Limited
Defensive Conservative Fund
Westpac KiwiSaver SchemeConservative
What the provider says about this fund
The Defensive Conservative Fund aims to provide stable returns over the short to medium term. The fund invests primarily in income assets but also has a 20% target allocation to growth assets. Volatility is expected to be higher than the Cash Fund but lower than the Conservative Fund in the Westpac KiwiSaver Scheme.
1-year return
4.31%
5-year return p.a.
2.30%
Total annual fee
0.40%
Fund size ($m)
257.0
Members
12,793
Inception date
2 July 2014
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
19.80%
Income assets
80.20%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 5.00% | 5.00% | 5.79% |
| Cash and equivalents | 13.44% | 13.00% | 20.22% |
| Commodities | 0.00% | 0.00% | 0.07% |
| International bonds | 39.38% | 40.00% | 27.47% |
| International shares | 12.84% | 13.00% | 14.45% |
| Listed property | 1.96% | 2.00% | 1.47% |
| New Zealand bonds | 27.38% | 27.00% | 29.28% |
| Unlisted property | 0.00% | 0.00% | 0.49% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | NZ Government Bond 4.5% 15/05/2035 | Bonds | New Zealand Fixed Interest | NZ | 1.30% |
| 2 | NZ Government Bond 4.25% 15/05/2034 | Bonds | New Zealand Fixed Interest | NZ | 1.18% |
| 3 | US 5Yr Note | Bonds | International Fixed Interest | US | 1.00% |
| 4 | NZ Government Bond 3.5% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 0.98% |
| 5 | NZ Government Bond 2.75% 15/04/2037 | Bonds | New Zealand Fixed Interest | NZ | 0.88% |
| 6 | NZ Government Inflation Index Bond 2.5% 20/09/2035 | Bonds | New Zealand Fixed Interest | NZ | 0.86% |
| 7 | NZ Government Bond 4.25% 15/05/2036 | Bonds | New Zealand Fixed Interest | NZ | 0.79% |
| 8 | NZ Government Bond 5% 15/05/2054 | Bonds | New Zealand Fixed Interest | NZ | 0.75% |
| 9 | NVIDIA Corporation | Shares | International Equities | US | 0.69% |
| 10 | Australia 3YR Bond Future | Bonds | International Fixed Interest | AU | 0.67% |
Fees
0.40% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.40% | $120 | 0.70% |
| Other fees | 0.00% | $0 | 0.11% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.40% | $120 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2017 | 2.92% | 3.59% |
| 31 March 2018 | 4.13% | 3.30% |
| 31 March 2019 | 4.15% | 4.43% |
| 31 March 2020 | 0.78% | 1.24% |
| 31 March 2021 | 7.94% | 8.66% |
| 31 March 2022 | -1.61% | -0.64% |
| 31 March 2023 | -0.93% | -1.65% |
| 31 March 2024 | 6.00% | 6.61% |
| 31 March 2025 | 3.96% | 3.59% |
| 31 March 2026 | 4.31% | 3.96% |
Documents
- Full portfolio holdings (spreadsheet)
- Latest fund update
- Other material information
- Other material information
- Other material information
- Other material information
- Product disclosure statement
- Statement of investment policy and objectives
- Statement of investment policy and objectives
- Statement of investment policy and objectives
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Andrew Twidle | Chief Executive Officer � BT Funds Management (NZ) Limited | 4 months |
| Andrew Winter | Portfolio Manager Diversified Funds | 2 years, 2 months |
| Angelika Sansom | Investment Analytics Manager | 24 years, 7 months |
| Philip Houghton-Brown | Head of Investment Solutions | 5 years, 6 months |
| Stephen Hong | Senior Portfolio Manager | 13 years, 6 months |