Simplicity NZ Limited
Defensive Fund
Simplicity KiwiSaver SchemeDefensive
What the provider says about this fund
The Defensive Fund provides investors with exposure to mostly income assets. There is very limited exposure to growth assets (unlisted property).
1-year return
2.49%
5-year return p.a.
1.42%
Total annual fee
0.25%
Fund size ($m)
101.1
Members
1,432
Inception date
28 April 2023
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Investment mix
Growth assets
2.56%
Income assets
97.44%
| Asset class | Actual | Target | Average for Defensive funds |
|---|---|---|---|
| Cash and equivalents | 94.95% | 85.00% | 48.53% |
| New Zealand bonds | 2.49% | 10.00% | 28.46% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 2.56% | 5.00% | 0.05% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Kiwibank FRN 13 June 2028 | Cash | Cash and Cash Equivalents | NZ | 7.71% |
| 2 | Westpac NZ FRN 6 July 2026 | Cash | Cash and Cash Equivalents | NZ | 7.46% |
| 3 | Kiwibank FRN 15 March 2028 | Cash | Cash and Cash Equivalents | NZ | 6.23% |
| 4 | Housing NZ bond 5 October 2026 | Cash | Cash and Cash Equivalents | NZ | 4.96% |
| 5 | Cash at Bank | Cash | Cash and Cash Equivalents | NZ | 4.07% |
| 6 | Tax Trader CP 26 June 2026 | Cash | Cash and Cash Equivalents | NZ | 3.70% |
| 7 | Tax Trader CP 27 May 2026 | Cash | Cash and Cash Equivalents | NZ | 3.09% |
| 8 | Simplicity Living Ltd Ordinary Shares | Property | Unlisted Property | NZ | 2.56% |
| 9 | Auckland City Council Bond 10 August 2026 | Cash | Cash and Cash Equivalents | NZ | 2.51% |
| 10 | Watercare CP 14 April 2026 | Cash | Cash and Cash Equivalents | NZ | 2.48% |
Fees
0.25% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.25% | $75 | 0.46% |
| Other fees | 0.00% | $0 | 0.06% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.25% | $75 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2025 | 4.60% | 3.79% |
| 31 March 2026 | 2.49% | 2.09% |
Documents
- Full portfolio holdings (spreadsheet)
- Latest fund update
- Latest fund update
- Other material information
- Other material information
- Other material information
- Other material information
- Other material information
- Other material information
- Product disclosure statement
- Statement of investment policy and objectives
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Andrew Lance | Chief Investment Officer, Simplicity | 2 years, 1 month |
| Rob Everett | Director, Simplicity | 9 months |
| Sam Stubbs | Managing Director, Simplicity | 10 years |
| Shamubeel Eaqub | Chief Economist, Simplicity | 1 year, 6 months |