ANZ Conservative

Nearly 80% of this fund sits in bonds and cash, with international bonds taking the largest single slice at 44%. The top holding is a US mortgage-backed security issued by Fannie Mae, followed by a stack of New Zealand government bonds and bank deposits. Growth assets make up just 21%, split between international shares and a smaller allocation to Australasian equities and listed property.

The fund returned 5.6% over the past year, placing it 12th in the conservative category. Over three years it averaged 6.2% annually, though the five-year figure sits lower at 2.1% per year, ranking 16th. Total fees run to 0.63%, with management charges at 0.56% and other costs adding 0.04%. At $1.6 billion in assets under management, this is one of the larger conservative offerings in the market.

The allocation is built for stability rather than growth, with the majority of capital anchored in fixed-interest securities from New Zealand and offshore. The top ten holdings are dominated by government and bank debt, reflecting a defensive stance designed to limit volatility. The fund's risk level sits at 2 on a seven-point scale.

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