Milford Funds Limited
Milford KiwiSaver Conservative Fund
Milford KiwiSaver PlanConservative
What the provider says about this fund
The Fund’s objective is to provide moderate returns and protect capital after the base fund fee but before tax over the minimum recommended investment timeframe of three years. It is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities.
1-year return
1.89%
5-year return p.a.
2.57%
Total annual fee
0.85%
Fund size ($m)
455.4
Members
9,299
Inception date
1 October 2012
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
15.92%
Income assets
84.08%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 5.98% | 4.00% | 5.79% |
| Cash and equivalents | 16.13% | 7.00% | 20.22% |
| International bonds | 34.84% | 50.00% | 27.47% |
| International shares | 6.79% | 9.00% | 14.45% |
| Listed property | 3.14% | 5.00% | 1.47% |
| New Zealand bonds | 33.11% | 25.00% | 29.28% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | NZD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | NZ | 5.32% |
| 2 | New Zealand Government 4.5% 15/05/2035 | Bonds | New Zealand Fixed Interest | NZ | 4.21% |
| 3 | New Zealand Government 2.5% 20/09/2035 | Bonds | New Zealand Fixed Interest | NZ | 2.69% |
| 4 | New Zealand Local Government Funding Agency Ltd 3.5% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 2.25% |
| 5 | New Zealand Government 1.5% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.57% |
| 6 | NZD Cash Call Account (Bank of China) | Cash | Cash and Cash Equivalents | NZ | 1.28% |
| 7 | USD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | US | 1.18% |
| 8 | New Zealand Government 3.5% 14/04/2033 | Bonds | New Zealand Fixed Interest | NZ | 1.14% |
| 9 | New Zealand Local Government Funding Agency Ltd 2.25% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.05% |
| 10 | Westpac Banking Corporation 6.085% 12/02/2041 | Bonds | International Fixed Interest | AU | 1.04% |
Fees
0.85% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.84% | $252 | 0.70% |
| Other fees | 0.01% | $3 | 0.11% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.85% | $255 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2017 | 5.46% | 3.59% |
| 31 March 2018 | 4.53% | 3.30% |
| 31 March 2019 | 4.40% | 4.43% |
| 31 March 2020 | 0.99% | 1.24% |
| 31 March 2021 | 8.53% | 8.66% |
| 31 March 2022 | -0.87% | -0.64% |
| 31 March 2023 | 0.35% | -1.65% |
| 31 March 2024 | 6.18% | 6.61% |
| 31 March 2025 | 5.50% | 3.59% |
| 31 March 2026 | 1.89% | 3.96% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Mark Riggall | Portfolio Manager | 11 years, 3 months |
| Paul Morris | Portfolio Manager | 10 years, 2 months |