Simplicity Conservative Fund

Nearly a third of this fund sits in cash, with another 10.6 percent parked at the bank and the next largest holdings in floating-rate notes from Westpac and Kiwibank. That ultra-defensive posture defines the Simplicity Conservative Fund, which runs 80 percent in income assets and just 20 percent in shares. At 0.24 percent annually, it charges less than half the typical conservative fund fee.

The fixed income allocation spans New Zealand and international bonds, with positions in government debt, Housing New Zealand, and World Bank paper. The equity sleeve tilts international, holding names like Nvidia and Apple alongside a smaller Australasian allocation. One curiosity: a 1.99 percent stake in Simplicity Living, an unlisted property venture. The fund holds $188.8 million in assets.

Performance has been uneven. It placed 10th in its category over one year with a 5.9 percent return, lifted to 6th over three years at 7.4 percent annually, then dropped to 17th over five years with 1.9 percent per year. That five-year figure trails the category and reflects the fund's bias toward stability over growth. Built for capital preservation, it favours liquidity and income over long-term compounding.

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