BNZ Default

The BNZ Default fund charges 0.35 percent annually and holds $867 million in assets, making it one of the larger default options in the KiwiSaver system. It returned 10.7 percent over the past year and 12.4 percent annually over three years.

The fund splits its portfolio 62 percent to growth assets and 38 percent to income, with international shares taking the largest single slice at 39.67 percent. Australasian shares account for nearly 20 percent, while bonds make up 35 percent of the portfolio: 25.35 percent in international bonds and 9.72 percent in New Zealand bonds. Cash sits at 5.3 percent. The top holdings lean heavily domestic, led by Fisher & Paykel Healthcare at 3.37 percent, Auckland Airport at 2.09 percent, and Infratil at 1.8 percent. The international exposure brings in US tech names including NVIDIA at 1.92 percent, Apple at 1.72 percent, and Microsoft at 1.29 percent.

This is a balanced fund with moderate growth tilt, designed for members who have not made an active choice. The structure reflects the regulatory settings for default funds, which require a measured approach to risk and a diversified allocation across asset classes.

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