Milford Funds Limited
Milford KiwiSaver Balanced Fund
Milford KiwiSaver PlanBalanced
What the provider says about this fund
The Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of five years. It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities.
1-year return
4.58%
5-year return p.a.
4.88%
Total annual fee
1.05%
Fund size ($m)
2329.5
Members
33,149
Inception date
1 April 2010
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Lower riskHigher risk
Investment mix
Growth assets
59.77%
Income assets
40.23%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 16.46% | 24.00% | 13.93% |
| Cash and equivalents | 2.97% | 8.00% | 7.91% |
| International bonds | 22.25% | 25.00% | 19.39% |
| International shares | 35.68% | 30.00% | 35.53% |
| Listed property | 5.24% | 7.00% | 2.24% |
| New Zealand bonds | 15.01% | 6.00% | 18.91% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | NZD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | NZ | 3.99% |
| 2 | USD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | US | 2.27% |
| 3 | New Zealand Government 4.5% 15/05/2035 | Bonds | New Zealand Fixed Interest | NZ | 1.96% |
| 4 | AUD Cash Current Account (HSBC) | Cash | Cash and Cash Equivalents | AU | 1.37% |
| 5 | Microsoft Corporation | Shares | International Equities | US | 1.28% |
| 6 | SSE Plc | Shares | International Equities | GB | 1.27% |
| 7 | National Grid Plc | Shares | International Equities | GB | 1.18% |
| 8 | NZD Cash Call Account (BNZ Bank) | Cash | Cash and Cash Equivalents | NZ | 1.16% |
| 9 | Amazon.Com, Inc. | Shares | International Equities | US | 1.13% |
| 10 | Contact Energy Ltd | Shares | Australasian Equities | NZ | 1.10% |
Fees
1.05% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 1.05% | $315 | 0.77% |
| Other fees | 0.00% | $0 | 0.09% |
| Performance fees | 0.00% | $0 | 0.00% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 1.05% | $315 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 8.25% | 6.00% |
| 31 March 2018 | 7.45% | 5.23% |
| 31 March 2019 | 6.15% | 5.82% |
| 31 March 2020 | -0.86% | -1.40% |
| 31 March 2021 | 23.85% | 18.18% |
| 31 March 2022 | 5.44% | 0.77% |
| 31 March 2023 | -0.50% | -2.77% |
| 31 March 2024 | 10.39% | 10.89% |
| 31 March 2025 | 4.79% | 4.36% |
| 31 March 2026 | 4.58% | 6.36% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Mark Riggall | Portfolio Manager | 11 years, 3 months |
| Paul Morris | Portfolio Manager | 10 years, 2 months |