ANZ Conservative Balanced

A fund holding $1.76 billion splits its bets almost evenly between bonds and growth assets, with international fixed interest alone claiming more than a third of the portfolio. Despite the conservative label, 36 percent sits in shares and listed property, which places ANZ Conservative Balanced firmly in moderate territory. It finished 14th in its category over one year with a 6.7 percent return, and 17th over three years at 7.3 percent annually.

The bond sleeve leans heavily offshore, with US mortgage-backed securities and government debt sitting alongside New Zealand government stock and Westpac floating rate notes. On the growth side, Nvidia takes the largest equity position at 0.94 percent, followed by Apple and Fisher & Paykel Healthcare. The fund also holds more than 13 percent in cash and equivalents, including term deposits with Westpac. Total fees run to 0.75 percent annually, combining a 0.69 percent management charge with smaller operational costs.

This is a diversified moderate fund with a tilt toward international bonds and a measured allocation to shares. The structure reflects a middle path between income and capital growth, built around a core of fixed interest holdings spread across two markets.

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