BT Funds Management (NZ) Limited
Moderate Fund
Westpac KiwiSaver SchemeBalanced
What the provider says about this fund
The Moderate Fund aims to provide moderate returns over the medium term. The fund has a higher target allocation to income assets than to growth assets. Volatility is expected to be higher than the Conservative Fund but lower than the Default Balanced Fund in the Westpac KiwiSaver Scheme.
1-year return
6.45%
5-year return p.a.
3.14%
Total annual fee
0.40%
Fund size ($m)
936.8
Members
35,325
Inception date
2 July 2014
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
40.14%
Income assets
59.86%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 11.10% | 11.00% | 13.93% |
| Cash and equivalents | 8.01% | 8.00% | 7.91% |
| Commodities | 0.00% | 0.00% | 0.17% |
| International bonds | 30.58% | 31.00% | 19.39% |
| International shares | 26.06% | 26.00% | 35.53% |
| Listed property | 2.98% | 3.00% | 2.24% |
| New Zealand bonds | 21.27% | 21.00% | 18.91% |
| Unlisted property | 0.00% | 0.00% | 0.46% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | NVIDIA Corporation | Shares | International Equities | US | 1.39% |
| 2 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 1.32% |
| 3 | Apple Inc. | Shares | International Equities | US | 1.02% |
| 4 | NZ Government Bond 4.5% 15/05/2035 | Bonds | New Zealand Fixed Interest | NZ | 1.01% |
| 5 | NZ Government Bond 4.25% 15/05/2034 | Bonds | New Zealand Fixed Interest | NZ | 0.92% |
| 6 | Infratil Ltd | Shares | Australasian Equities | NZ | 0.87% |
| 7 | S&P500 E-Mini Future | Shares | International Equities | US | 0.83% |
| 8 | Microsoft Corporation | Shares | International Equities | US | 0.81% |
| 9 | US 5Yr Note | Bonds | International Fixed Interest | US | 0.78% |
| 10 | NZ Government Bond 3.5% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 0.76% |
Fees
0.40% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 0.40% | $120 | 0.77% |
| Other fees | 0.00% | $0 | 0.09% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.40% | $120 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 3.86% | 6.00% |
| 31 March 2018 | 5.78% | 5.23% |
| 31 March 2019 | 4.94% | 5.82% |
| 31 March 2020 | -0.88% | -1.40% |
| 31 March 2021 | 13.82% | 18.18% |
| 31 March 2022 | -1.17% | 0.77% |
| 31 March 2023 | -2.04% | -2.77% |
| 31 March 2024 | 8.36% | 10.89% |
| 31 March 2025 | 4.49% | 4.36% |
| 31 March 2026 | 6.45% | 6.36% |
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 |