OneAnswer Balanced

Nvidia is the single biggest equity holding in this $625 million balanced fund, sitting just ahead of Apple and Microsoft in a portfolio that tilts decisively toward offshore markets. ANZ Investments runs this as a moderate-risk option, splitting roughly 51 percent into growth assets and the rest into bonds and cash, with international shares taking the largest slice at 35 percent of the total.

The allocation is spread thin. Fisher & Paykel Healthcare leads the domestic equity exposure at 1.1 percent, while Infratil appears further down at 0.62 percent. Fixed income leans heavily offshore, with US mortgage-backed securities and New Zealand government bonds forming the defensive core. Listed property accounts for just over 3 percent. The top holding represents barely more than 1 percent of the fund, a sign of broad diversification rather than concentrated conviction.

Returns have been uneven. The fund delivered 8.5 percent over the past year and 8.7 percent annualised over three years, but the five-year figure drops sharply to 4.1 percent. Total fees sit at 0.9 percent, with a management charge of 0.82 percent and no performance fee. The structure reflects a mainstream balanced approach, designed for investors seeking exposure to global markets with a modest tilt toward stability.

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