Mercer Kiwisaver Scheme
Responsible Conservative Fund
The Smiths take
Responsible Conservative Fund Smiths Rating B+
Smiths' editorial rating, our internal opinion based on 10-year returns and risk band fit. Not a formal credit rating or regulated star rating.
The fund matches the group average on 5-year returns. 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 Responsible 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
20% growth assets (shares, property) and 80% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
20.34% / 79.66%
Growth / Income · avg 23.01% / 76.99%
5-yr return
2.30%
Annualised, after fees & 28% PIR · avg 2.30%
Past performance is not a reliable indicator of future performance. Data as at Q1 2026 (31 Mar 2026).
What the provider says
In their own words
“Invests mostly in defensive assets such as fixed interest, with only limited investment in growth assets such as shares. May be suitable for investors who want to achieve slightly higher returns than those expected from investing solely in the Cash fund. Investors need to be comfortable with the possibility of some fluctuations in returns. This fund is managed with reference to environmental, social and governance (ESG) factors and is certified by the Responsible Investment Association of Australasia.”
- 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 20.34% 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
20.34%
avg 20.31%
- Propertythis fundavg
0.00%
avg 2.07%
- Otherthis fundavg
0.00%
avg 0.63%
- Bondsthis fundavg
61.60%
avg 56.62%
- Cashthis fundavg
18.06%
avg 20.37%
What it owns
Top 10 holdings. 24.43% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Ishares Mortgage Backed Bond Etf
Bonds
International Fixed InterestUS4.38%New Zealand Government Bond 3.0% 20/04/2029
Bonds
New Zealand Fixed InterestNZ2.68%New Zealand Government Bond 3.50% 14/04/2033
Bonds
New Zealand Fixed InterestNZ2.61%New Zealand Government Bond 1.50% 15/05/2031
Bonds
New Zealand Fixed InterestNZ2.54%New Zealand Government Bond 4.50% 15/05/2030
Bonds
New Zealand Fixed InterestNZ2.35%New Zealand Government Bond 1.75% 15/05/2041
Bonds
New Zealand Fixed InterestNZ2.23%New Zealand Government Bond 0.25% 15/05/2028
Bonds
New Zealand Fixed InterestNZ2.09%New Zealand Government Bond 2.75% 15/04/2037
Bonds
New Zealand Fixed InterestNZ1.94%New Zealand Government Bond 4.25% 15/05/2036
Bonds
New Zealand Fixed InterestNZ1.81%New Zealand Government Bond 2.00% 15/05/2032
Bonds
New Zealand Fixed InterestNZ1.80%
Yearly returns
2.30% 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, 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
- $794,378,437
- Members
- 21,812
- Asset liquidity ratio
- 100.00%
- Debt ratio
- 0.65%
- Default KiwiSaver fund
- No
- Fund reference
- FND13
Manager
Mercer Kiwisaver Scheme
Licensed with the Financial Markets Authority.
- NZBN
- 9429040873121
- FSP number
- FSP42742
Smiths Health Check
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