Anz Kiwisaver Scheme
Conservative Balanced Fund
The Smiths take
Conservative Balanced Fund Smiths Rating B+
Smiths' editorial rating, our internal opinion based on 10-year returns, fees, and risk band fit. Not a formal credit rating or regulated star rating.
The fund matches or beats the group average on the standard Sorted measures. Read the full breakdown below.
General information only · Past performance is not a reliable indicator of future performance · For personal advice please contact us.
At a glance
This fund is for investors seeking
Three quick reads for whether the Conservative Balanced Fund fits your situation.
A 5+ years timeframe
This is a balanced KiwiSaver fund. The provider's recommended minimum holding period sits in the 5+ years range.
A moderate-risk investment
Sorted's risk indicator places this at 4 on a 1–7 scale. Moderate volatility. meaningful ups and downs but not extreme.
Income-leaning mix
35% growth assets (shares, property) and 65% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
35.39% / 64.61%
Growth / Income · avg 53.54% / 46.46%
Fees
0.73%
$219 on $30k · avg 1.61%
5-yr return
2.64%
Annualised, after fees & 28% PIR · avg 2.64%
What the provider says
In their own words
“The Conservative Balanced Fund invests mainly in income assets (cash and cash equivalents and fixed interest), with some exposure to growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets. The Conservative Balanced Fund aims to achieve (after the fund charge and before tax) over the long term low to moderate returns, allowing for small to moderate ups and downs in value.”
- Fund start date
- 1 October 2007
- Withdrawal rules
- This is a KiwiSaver fund. generally you can withdraw only to purchase a first home, after the age of 65, or in cases of significant financial hardship.
Asset mix
What this fund actually holds
Growth assets are 35.39% of the fund, income assets the rest. The mix is the latest snapshot from Sorted, with the average for this risk band's KiwiSaver funds shown alongside.
- Sharesthis fundavg
29.97%
avg 49.40%
- Propertythis fundavg
3.97%
avg 2.71%
- Otherthis fundavg
1.45%
avg 1.43%
- Bondsthis fundavg
52.80%
avg 38.55%
- Cashthis fundavg
11.81%
avg 7.91%
What it owns
Top 10 holdings. 8.16% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Federal National Mortgage Association 150244 0.00 Tba
Bonds
International Fixed InterestUS1.19%Westpac Banking Registered Certificate Of Deposit 01/04/2026
Cash
Cash and Cash EquivalentsNZ0.94%Fnma 30yr Conv Loan 130354 6.50 Tba
Bonds
International Fixed InterestUS0.85%Nvidia Corporation
Shares
International EquitiesUS0.85%Nz Government Stock 15/05/2035 4.50%
Bonds
New Zealand Fixed InterestNZ0.77%Apple Inc
Shares
International EquitiesUS0.77%Westpac Banking Nz Floating Rate Note 06/07/2026
Bonds
New Zealand Fixed InterestNZ0.77%Fisher And Paykel Healthcare
Shares
Australasian EquitiesNZ0.73%Nz Government Bond 15/05/2034 4.25%
Bonds
New Zealand Fixed InterestNZ0.66%Fnma 30yr Conventional Tba 150336 6.00
Bonds
International Fixed InterestUS0.63%
Fees breakdown
What you actually pay
Modelled on a $30,000 balance held for one full year. Each line shows this fund's % and dollar cost vs. the average for funds in the same risk band.
Management
Charged by the fund manager, % of your balance.
0.69%
avg 0.76%
$207
avg $229
−0.07%Other
Other potential costs not in the categories below.
29.97%
avg 49.40%
-
avg -
−19.43%Performance-based
Higher when the fund (or underlying fund) performs well.
0.00%
avg -
$0
avg -
Membership
A flat annual fee, regardless of balance or performance.
0.00%
avg 0.05%
$0
avg $15
−0.05%
Total combined fees
Doesn't include fees for one-off activities like transferring or withdrawing.
0.73%
avg 1.61%
$219
avg $483
Yearly returns
2.64% per year over 5 years
Each bar is the 12-month return ending in March, after fees and 28% PIR. Past performance is not a reliable indicator of future performance.
Returns: living in the past
Seeking returns is the point of investing, but the ones shown above are already gone. they won't continue. Pick a fund based on the right mix for your situation and reasonable fees, not on past returns.
Risk indicator
Sorted risk rating: 4 of 7
The Sorted risk indicator is calculated from the last 5 years of price volatility. Higher = more ups and downs but typically higher long-term returns.
Fund details
The unsexy stats that matter
- Total fund value
- $1,757,844,197
- Members
- 40,912
- Asset liquidity ratio
- 100.08%
- Debt ratio
- 0.08%
- Default KiwiSaver fund
- No
- Fund reference
- FND2187
Manager
Anz Kiwisaver Scheme
Licensed with the Financial Markets Authority.
- NZBN
- 9429039355140
- FSP number
- FSP33221
Smiths Health Check
Is the Conservative Balanced Fund actually the right fund for you?
Take the 90-second Health Check. We'll grade your current setup, tell you what it's costing you, and recommend the best fit from our advised panel, benchmarked against every fund in the directory, not just anz.
Our directory covers every NZ KiwiSaver fund. Our advice panel is five schemes (ANZ, Booster, Fisher Funds, Generate, Milford); recommendations land on four funds across Milford and Booster — how we're paid →