GoalsGetter Amova NZ Corporate Bond

At $0.9 million, this is one of the smallest funds on the KiwiSaver market, holding less than the value of a modest Auckland house. ANZ Investments runs it as a pure corporate bond play, with 88% in New Zealand fixed interest and the rest in cash. The 0.7% annual fee sits at the higher end for a conservative fixed interest fund, with an additional 0.1% performance fee on top.

The portfolio spreads across government-backed and corporate issuers. Housing New Zealand leads at 3%, followed by a New Zealand Government bond and Local Government Funding Agency debt. Banks feature prominently: Bank of New Zealand and Rabobank each hold over 2%. Infrastructure appears through Christchurch International Airport, while Insurance Australia Group rounds out the top holdings. The fund returned 5% over one year and averaged 6.5% annually over three years, though its five-year track record of 1.9% per year reflects the bond market's volatility through recent interest rate cycles.

This is a risk level 2 fund, built for capital preservation rather than growth. The tiny scale raises practical questions about liquidity and viability, though the underlying holdings are all liquid, listed securities.

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