InvestNow Milford Balanced

InvestNow Milford Balanced is a wrapper fund that invests entirely in the Milford Balanced Fund, charging 1.07 percent in total annual fees for access to a portfolio split 60 percent growth assets and 40 percent income. The fund holds $32.6 million and sits at risk level 4, with its underlying allocation spread across international shares (29.83 percent), international bonds (23.17 percent), Australasian shares (17.32 percent) and New Zealand bonds (15.4 percent). The structure means investors pay the wrapper fee on top of the underlying fund's costs, a layered arrangement that pushes the total fee above the category average.

Returns have been uneven across time frames. The fund delivered 8.8 percent over one year and a stronger 9.6 percent annualised over three years, but the five-year figure drops to 6.7 percent annualised. That longer view captures a period when the balanced allocation faced headwinds across both equities and fixed income. The portfolio includes a 2.22 percent allocation to commodities and 5.56 percent to listed property, adding diversification beyond the core equity and bond positions. The fund provides exposure to Milford's active management approach, though the fee structure reflects the cost of accessing it through a replicated vehicle.

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