BNZ Investment Services Limited
BNZ KiwiSaver Conservative Fund
BNZ KiwiSaver SchemeConservative
What the provider says about this fund
The Conservative Fund invests mostly in income assets, which generally have lower levels of risk with the potential for lower returns. It also has a modest allocation to growth assets, which generally have higher levels of risk and potential returns. It aims to achieve relatively stable returns over the short to medium term.
1-year return
3.73%
5-year return p.a.
2.09%
Total annual fee
0.45%
Fund size ($m)
917.3
Members
33,314
Inception date
11 February 2013
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
20.03%
Income assets
79.97%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 7.05% | 7.00% | 5.79% |
| Cash and equivalents | 25.76% | 25.00% | 20.22% |
| International bonds | 39.23% | 41.00% | 27.47% |
| International shares | 12.98% | 13.00% | 14.45% |
| New Zealand bonds | 14.98% | 14.00% | 29.28% |
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 | 1.65% |
| 2 | ASB Bank Ltd Registered Certificate of Deposit 10/12/2026 | Cash | Cash and Cash Equivalents | NZ | 1.63% |
| 3 | Westpac New Zealand Ltd | Cash | Cash and Cash Equivalents | NZ | 1.51% |
| 4 | Westpac New Zealand Ltd Floating Rate Note 06/07/2026 | Bonds | New Zealand Fixed Interest | NZ | 1.30% |
| 5 | BNZ RDA 185 Day OCR +50bps | Cash | Cash and Cash Equivalents | NZ | 1.27% |
| 6 | New Zealand (Government) 4.5% 15/05/2030 | Bonds | New Zealand Fixed Interest | NZ | 1.21% |
| 7 | Housing New Zealand Ltd 2.247% 05/10/2026 | Bonds | New Zealand Fixed Interest | NZ | 1.20% |
| 8 | New Zealand (Government) 4.25% 15/05/2036 | Bonds | New Zealand Fixed Interest | NZ | 1.17% |
| 9 | New Zealand (Government) 1.5% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.16% |
| 10 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 1.14% |
Fees
0.45% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.45% | $135 | 0.70% |
| Other fees | 0.00% | $0 | 0.11% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.45% | $135 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2017 | 4.67% | 3.59% |
| 31 March 2018 | 4.24% | 3.30% |
| 31 March 2019 | 3.24% | 4.43% |
| 31 March 2020 | 1.77% | 1.24% |
| 31 March 2021 | 5.49% | 8.66% |
| 31 March 2022 | -1.69% | -0.64% |
| 31 March 2023 | -1.59% | -1.65% |
| 31 March 2024 | 6.07% | 6.61% |
| 31 March 2025 | 4.20% | 3.59% |
| 31 March 2026 | 3.73% | 3.96% |
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 |