GoalsGetter Amova Conservative

At $2.7 million in assets, this is one of the smallest funds on the market, yet it charges 0.9% annually, putting it among the more expensive options in the moderate category. Despite its conservative name, the fund sits in the moderate risk band with 23% in growth assets, the rest split roughly evenly between New Zealand and international bonds, plus a substantial 17% cash holding.

The portfolio is a patchwork. New Zealand government bonds dominate the fixed income allocation, with six separate NZ government securities among the top ten holdings. Cash sits in multiple currencies through BNP Paribas accounts and short-term treasury bills from Japan and France. The growth sleeve leans on a single vehicle, the Life Cycle Concentrated Global Share Fund, which accounts for 4% of the portfolio. Australasian shares add another 5.4%, international shares 13%, and a small listed property position rounds out the risk assets. The fund placed 19th in its category over one year and holds similar mid-table positions over three and five years.

The structure is diffuse, the scale tiny, and the fee level sits well above the category median. ANZ Investments runs this as part of its GoalsGetter range, but the fund's footprint remains minimal.

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