Milford Aggressive

Nearly $3 billion sits in this fund, making it one of the largest aggressive portfolios in the KiwiSaver market, and its five-year record puts it 3rd in its category.

The allocation is heavily concentrated: 70% in international shares and 20% in Australasian equities, with the rest mostly in cash. The top holdings tell the story of an active manager making deliberate bets. Nvidia takes the largest equity position at 3.2%, followed by Microsoft, Amazon, Shell and Apple. What stands out is the cash: over 13% of the portfolio sits in currency accounts across US dollars, New Zealand dollars and Australian dollars, suggesting active positioning rather than passive tracking. The fund charges 1.15% annually in management fees, with no performance or other charges on top.

Over the past year it returned 10.7% and ranked 15th among aggressive funds. The three-year figure is stronger at 14.2% annually, placing it 10th, and the five-year return of 9.3% annually lifts it to 3rd. That longer-term record reflects sustained performance through different market conditions, though the fund's structure and holdings show this is an actively managed portfolio, not an index tracker.

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