ANZ Balanced Growth

Nearly $4 billion sits in this fund, making it one of the largest growth options in the KiwiSaver market. ANZ Balanced Growth charges 0.92 percent in total fees and splits its portfolio roughly two-thirds growth assets to one-third income, with international shares taking 46 percent of the allocation and international bonds another 23 percent. The fund finished 19th in its category over one year with a 9.8 percent return, 27th over three years at 9.9 percent annually, and 22nd over five years at 5.2 percent per year.

The top holdings reveal a blend of global technology and New Zealand infrastructure. Nvidia leads at 1.66 percent, followed by Apple at 1.48 percent and Fisher & Paykel Healthcare at 1.46 percent. The domestic allocation leans heavily on utilities and airports: Infratil, Auckland Airport and Contact Energy all appear in the top ten. A US mortgage-backed security and a dollar deposit at BNP Paribas sit among the largest positions, reflecting the fund's substantial fixed-interest sleeve.

The fund runs a moderate risk level of 5 out of 7. Its allocation and scale suggest a fund designed for members seeking growth with a meaningful defensive buffer, though its mid-table rankings indicate performance has tracked the category rather than led it in recent years.

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