Aurora Conservative Fund

The Aurora Conservative Fund charges 1.25 percent in total annual fees, placing it at the expensive end for a portfolio that holds 83 percent in bonds and cash. A performance fee adds 0.12 percent on top of the management and other charges, a structure more commonly seen in higher-growth strategies.

Nearly 30 percent sits in the Metlife Global Impact Bond Fund, with another 24 percent in Mercer Macquarie's New Zealand fixed interest sleeve and 18 percent in Mercer's cash fund. That concentration in three positions gives the fund a distinct tilt toward offshore bonds and domestic liquidity. The remaining 17 percent in growth assets is spread across a mix of boutique equity managers, including Brandywine, Pella and Munro, alongside small allocations to Kernel's ESG-tilted New Zealand 50 index and Mint's Australasian equity fund. The fund also holds 3.4 percent in Merricks Capital's private credit strategy, an unusual inclusion at this risk level.

The fund returned 5.0 percent over the year to its latest reporting date, landing it 21st in the Moderate category, and 5.7 percent annualised over three years, ranking 22nd. With $109 million under management and no five-year track record, it remains a relatively small and recent entrant in a crowded field.

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