ASB Scheme's NZ Cash

Forty-one per cent of this $866 million fund sits in a single Westpac deposit account. The rest is scattered across registered certificates of deposit from banks including ASB, BNZ, Rabobank and MUFG, with maturities stretching out to 2029. It is pure cash, no bonds, no equities, no complexity.

Over five years the fund returned 3.3 per cent annually and placed 10th in its category. Over one year it delivered 3.3 per cent and ranked 14th. The total fee is 0.35 per cent, with no performance or other charges on top. The fund holds $865.7 million in assets under management.

This is capital preservation in its simplest form: bank deposits and short-term money market instruments, all denominated in New Zealand dollars. The portfolio is heavily weighted to the major Australian-owned banks operating in New Zealand, with Westpac alone accounting for more than two-fifths of the fund. The structure is straightforward, the risk level is 1, and the entire allocation stays within the cash and equivalents category.

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