Booster Balanced

Booster Balanced charges a total fee of 1.22 percent, putting it among the most expensive balanced funds on the market, with a performance fee of 0.12 percent sitting on top of the base management charge. The fund holds $904.5 million and allocates 59 percent to growth assets, splitting the remainder between New Zealand and international bonds, with small stakes in listed and unlisted property. It placed 28th in its category over both one and three years, though climbed to 19th over five years.

The portfolio leads with international shares at 37 percent, followed by Australasian equities at 16 percent. Among its top holdings are NVIDIA, Apple and Microsoft alongside Fisher & Paykel Healthcare, while the fixed income side includes an internal loan to Booster's own Geared Growth Fund and exposure to corporate and secured private debt funds. Cash sits at 2.27 percent in a BNZ trust account. The fund mixes direct shareholdings with thematic ETFs like Vanguard's ESG US Stock fund, creating a blend of active and passive exposure across the growth allocation.

At over five times the cost of the cheapest balanced funds, the fee structure here is material. Returns over the medium term have lagged the category middle, though the five-year rank suggests some recovery relative to peers.

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