AMP Defensive Conservative

Four out of every five dollars in this fund sit in bonds, and the top ten holdings are all New Zealand government debt, spanning maturities from 2027 to 2040. The fund holds $434.7 million in assets and charges 0.44 percent in total annual fees, with 0.35 percent going to management and a performance fee component of 0.08 percent. Just 16 percent sits in growth assets, split between 10.35 percent in international shares and 2.92 percent in Australasian shares. The rest is anchored in fixed interest: 39.11 percent in New Zealand bonds, 26.16 percent in international bonds, and 19.13 percent in cash and equivalents.

The fund placed 8th in its category over one year with a 5.9 percent return, 9th over three years at 7.1 percent annualised, and 10th over five years at 2.8 percent annualised. The allocation reflects a defensive stance, built around the stability of government bonds with inflation-linked securities providing some hedge against rising prices. The fund's structure leans heavily on domestic fixed interest, with the largest single position, an inflation-linked bond maturing in 2035, accounting for 2.52 percent of the portfolio.

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