AMP Balanced Fund No.2

AMP Balanced Fund No.2 holds just $36.1 million in assets, a modest pool that splits 57 percent to growth assets and 43 percent to income. The fund charges 0.79 percent annually, comprising a 0.69 percent management fee plus smaller charges for performance and other costs. Over the year to the data point, it returned 10.6 percent.

The portfolio leans heavily on international shares, which take 37 percent of the fund, followed by New Zealand bonds at 20 percent and Australasian shares at 15 percent. International bonds claim another 18 percent, while cash and other assets round out the mix. The top holdings tell the story: Fisher & Paykel Healthcare leads at 2 percent, but six of the ten largest positions are New Zealand government bonds, including three inflation-linked issues maturing between 2030 and 2040. NVIDIA and Apple represent the international equity exposure, each just over 1.4 percent, while Auckland Airport adds local infrastructure flavour.

The fund delivered 12.4 percent annualised over three years, though its five-year return of 6.3 percent annualised sits well below the shorter-term figures. The replicated structure and heavy weighting to New Zealand government debt give it a distinctly domestic anchor, while the international equity slice provides offshore diversification through familiar US technology names.

General information only, not financial advice. Past performance is not a reliable indicator of future results.