BNZ Investment Services Limited
BNZ KiwiSaver Cash Fund
BNZ KiwiSaver SchemeDefensive
What the provider says about this fund
The Cash Fund invests in income assets, including New Zealand short-term cash securities and cash equivalent securities. It aims to achieve stable returns over the short term.
1-year return
2.28%
5-year return p.a.
2.53%
Total annual fee
0.30%
Fund size ($m)
364.6
Members
16,316
Inception date
11 February 2013
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Investment mix
Growth assets
0.00%
Income assets
100.00%
| Asset class | Actual | Target | Average for Defensive funds |
|---|---|---|---|
| Cash and equivalents | 100.00% | 100.00% | 48.53% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | ASB Bank Ltd Registered Certificate of Deposit 03/08/2026 | Cash | Cash and Cash Equivalents | NZ | 6.46% |
| 2 | ASB Bank Ltd Registered Certificate of Deposit 10/12/2026 | Cash | Cash and Cash Equivalents | NZ | 6.40% |
| 3 | Westpac New Zealand Ltd | Cash | Cash and Cash Equivalents | NZ | 5.93% |
| 4 | BNZ RDA 185 Day OCR +50bps | Cash | Cash and Cash Equivalents | NZ | 4.97% |
| 5 | Westpac New Zealand Ltd Floating Rate Note 06/07/2026 | Bonds | New Zealand Fixed Interest | NZ | 4.76% |
| 6 | Housing New Zealand Ltd 2.247% 05/10/2026 | Bonds | New Zealand Fixed Interest | NZ | 4.71% |
| 7 | MUFG Bank Ltd 0% 03/08/2026 | Cash | Cash and Cash Equivalents | NZ | 3.69% |
| 8 | Bank of New Zealand | Cash | Cash and Cash Equivalents | NZ | 3.35% |
| 9 | Kiwibank Ltd Term Deposit 2.9% 18/05/2026 | Cash | Cash and Cash Equivalents | NZ | 3.14% |
| 10 | Bank of New Zealand Registered Certificate of Deposit 15/04/2026 | Cash | Cash and Cash Equivalents | NZ | 3.10% |
Fees
0.30% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.30% | $90 | 0.46% |
| Other fees | 0.00% | $0 | 0.06% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.30% | $90 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2017 | 1.88% | 1.52% |
| 31 March 2018 | 1.68% | 2.07% |
| 31 March 2019 | 1.69% | 2.39% |
| 31 March 2020 | 1.34% | 1.67% |
| 31 March 2021 | 0.42% | 1.64% |
| 31 March 2022 | 0.34% | -1.81% |
| 31 March 2023 | 2.25% | -0.19% |
| 31 March 2024 | 4.04% | 3.49% |
| 31 March 2025 | 3.78% | 3.79% |
| 31 March 2026 | 2.28% | 2.09% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Andrew Bascand | Chair, Investment Committee | 1 year, 1 month |
| Hamish Pepper | Member, Investment Committee | 7 months |
| Murray Brown | Member, Investment Committee | 1 year, 1 month |
| Richard Ansell | Member, Investment Committee | 1 year, 1 month |