Simplicity Kiwisaver Scheme
Default Fund
The Smiths take
Default 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.
Smiths reviews this fund against every other balanced option in NZ on net-of-fees returns and band fit. The full Sorted snapshot is 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 Default 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.
Growth-leaning mix
59% growth assets (shares, property) and 41% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
58.80% / 41.20%
Growth / Income · avg 53.54% / 46.46%
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
“The Default Fund provides investors with an exposure to a mix of growth and income assets.”
- Fund start date
- 1 December 2021
- 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 58.80% 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
58.80%
avg 49.40%
- Propertythis fundavg
0.00%
avg 2.71%
- Otherthis fundavg
0.00%
avg 1.43%
- Bondsthis fundavg
26.99%
avg 38.55%
- Cashthis fundavg
14.21%
avg 7.91%
What it owns
Top 10 holdings. 21.31% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Cash At Bank
Cash
Cash and Cash EquivalentsNZ4.43%Nvidia Corp
Shares
International EquitiesUS2.80%Fisher & Paykel Healthcare Ltd
Shares
Australasian EquitiesNZ2.63%Apple Inc
Shares
International EquitiesUS2.54%Microsoft Corporation
Shares
International EquitiesUS2.31%Auckland International Airport Ltd
Shares
Australasian EquitiesNZ1.61%Amazon.Com Inc
Shares
International EquitiesUS1.42%Infratil Ltd
Shares
Australasian EquitiesNZ1.37%Alphabet Inc Class A
Shares
International EquitiesUS1.17%Broadcom Inc
Shares
International EquitiesUS1.03%
Yearly returns
3 years on the books
This fund hasn't had a full five-year history yet. Below is the year-by-year story so far, with the group average alongside.
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: 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
- $692,026,080
- Members
- 53,885
- Asset liquidity ratio
- 93.58%
- Debt ratio
- 0.02%
- Default KiwiSaver fund
- Yes
- Fund reference
- FND35073
Manager
Simplicity Kiwisaver Scheme
Licensed with the Financial Markets Authority.
- NZBN
- 9429041767092
- FSP number
- FSP465606
Smiths Health Check
See whether the Default Fund fits your situation.
Take the 90-second Health Check. We'll grade your current setup and give you a personalised recommendation from our advised panel, benchmarked against every fund in the directory, not just simplicity.
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 →