OneAnswer Conservative

Nearly half this portfolio sits in international bonds, with another $90 million anchored in New Zealand government stock and bank paper. The OneAnswer Conservative fund holds $477.5 million and keeps 79% in defensive assets, with just over a fifth in growth holdings split between local and international shares.

The top slot goes to US mortgage-backed securities through Fannie Mae, followed by a ladder of New Zealand government bonds stretching out to 2036. Westpac features prominently in the mix, both as floating rate notes and term deposits, alongside Rabobank paper. The domestic bond allocation runs to nearly 19%, with cash and equivalents adding another 17%. On the growth side, international shares claim 13.5% while Australasian equities take just over 4%, with a small listed property position rounding out the allocation.

Fees total 0.64% annually, with management charges at 0.56% and other costs adding 0.07%. The fund returned 5.6% over the past year and 6.2% annualised over three years, though the five-year figure of 2.1% reflects the sharp bond market repricing of recent years. With risk rated at 4 out of 7, this is a low-volatility fund built around fixed income, designed for members prioritising capital preservation over aggressive growth.

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