GoalsGetter Amova NZ Cash

At 0.4 percent, this cash fund charges the same management fee as some term deposits pay in interest, then returned 3.7 percent over the past year.

It holds $4.7 million across a portfolio split roughly three-quarters cash, one-quarter New Zealand bonds. The top holdings are a rotation of floating rate notes from Rabobank, Kiwibank, ASB, MUFG and Toyota Finance, alongside Auckland Council paper. Performance has been uneven: 7th in its category over one year, but 3rd over three years and 2nd over five. The longer track record suggests the fund has delivered more consistently when viewed across full interest rate cycles, though the recent year has lagged.

The structure is standard for a defensive cash option: no growth assets, no offshore exposure, and a focus on short-dated domestic credit. The fee sits at the higher end for cash funds, which matters when returns are compressed. Members are paying for active selection within a narrow mandate, though the scale remains modest and the one-year result shows that outperformance is not guaranteed.

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