NZ Defence Force Cash

This $2.7 million fund holds 100 percent in cash and equivalents, charging 0.46 percent in total annual fees. It delivered 3.3 percent over the past year and 4.6 percent annualised over three years.

The portfolio is spread across short-dated bank deposits, local government bonds and treasury bills, all maturing within the next two years. The top holding is an ASB bank deposit paying 1.646 percent and maturing in May 2026, making up 6 percent of the fund. Other positions include a Local Government Funding Agency bond at 1.5 percent, a floating-rate Westpac note, and an Auckland City Council bond yielding 3.744 percent. Toyota Finance New Zealand rounds out the top ten with a promissory note.

The fund takes no equity or property exposure. It sits entirely in New Zealand-domiciled instruments, leaning on major banks, local councils and government-backed issuers. The allocation reflects a pure capital preservation strategy, trading growth potential for stability and near-term liquidity.

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