Bnz Kiwisaver Scheme
Bnz Kiwisaver Conservative Fund
The Smiths take
Bnz Kiwisaver Conservative 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 Bnz Kiwisaver Conservative Fund fits your situation.
A 3+ years timeframe
This is a conservative KiwiSaver fund. The provider's recommended minimum holding period sits in the 3+ years range.
A moderate-risk investment
Sorted's risk indicator places this at 3 on a 1–7 scale. Smaller swings, lower long-term returns.
Mostly income assets
23% growth assets (shares, property) and 78% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
22.50% / 77.50%
Growth / Income · avg 23.01% / 76.99%
Fees
0.45%
$135 on $30k · avg 3.44%
5-yr return
2.26%
Annualised, after fees & 28% PIR · avg 2.26%
What the provider says
In their own words
“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.”
- Fund start date
- 11 February 2013
- 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 22.50% 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
22.50%
avg 20.31%
- Propertythis fundavg
0.00%
avg 2.07%
- Otherthis fundavg
0.00%
avg 0.63%
- Bondsthis fundavg
54.79%
avg 56.62%
- Cashthis fundavg
22.71%
avg 20.37%
What it owns
Top 10 holdings. 13.41% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Asb Bank Ltd Registered Certificate Of Deposit 03/08/2026
Cash
Cash and Cash EquivalentsNZ1.67%Asb Bank Ltd Registered Certificate Of Deposit 10/12/2026
Cash
Cash and Cash EquivalentsNZ1.65%Westpac New Zealand Ltd
Cash
Cash and Cash EquivalentsNZ1.53%Fisher & Paykel Healthcare Ltd
Shares
Australasian EquitiesNZ1.45%Westpac New Zealand Ltd Floating Rate Note 06/07/2026
Bonds
New Zealand Fixed InterestNZ1.33%New Zealand (Government) 4.5% 15/05/2030
Bonds
New Zealand Fixed InterestNZ1.26%New Zealand (Government) 4.25% 15/05/2036
Bonds
New Zealand Fixed InterestNZ1.19%New Zealand (Government) 1.5% 15/05/2031
Bonds
New Zealand Fixed InterestNZ1.18%Rabobank New Zealand Ltd 0% 16/02/2026
Bonds
New Zealand Fixed InterestNZ1.13%Bnp Paribas Bank Account Nzd
Cash
Cash and Cash EquivalentsNZ1.02%
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.
0.45%
avg 0.70%
$135
avg $210
−0.25%Other
Other potential costs not in the categories below.
22.50%
avg 20.31%
-
avg -
+2.19%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.
0.45%
avg 3.44%
$135
avg $1,031
Yearly returns
2.26% 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: 3 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
- $921,657,960
- Members
- 33,650
- Asset liquidity ratio
- 100.04%
- Debt ratio
- 0.04%
- Default KiwiSaver fund
- Yes
- Fund reference
- FND516
Manager
Bnz Kiwisaver Scheme
Licensed with the Financial Markets Authority.
- NZBN
- 9429032532593
- FSP number
- FSP28021
Smiths Health Check
Is the Bnz Kiwisaver Conservative 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 bnz.
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 →