NZ Defence Force Moderate

Eight of the ten largest holdings in this fund are New Zealand government bonds, ranging from a 0.25% coupon maturing in 2028 to a 4.5% maturing in 2030. That defensive tilt shows in the split: 62% in bonds and cash, 38% in growth assets. The allocation leans international, with offshore equities and bonds together accounting for more than half the portfolio, while Australasian shares sit at just over 10%. Fisher & Paykel Healthcare is the sole equity in the top ten, at 1.58%.

The fund sits at 5th in its category over one year, with an 8.2% return, and 7th over three years at 8.3% annualised. Over five years it drops to 9th, returning 3.8% per year. The total fee is 0.73%, split between a 0.52% management charge and 0.21% in other costs. Fund size is $9.3 million. The structure reflects a moderate risk profile built around a core of government debt, with measured exposure to shares and a long tail of maturities across the bond ladder.

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