Simplicity Default

At 0.24 per cent total fees, Simplicity Default is the lowest-cost fund in its category, running $692 million in member assets on a fee structure that strips out every optional charge.

The allocation is 59 per cent growth assets, with international shares making up the bulk at 42.5 per cent. The top holdings read like a concentrated bet on US technology: NVIDIA at 2.84 per cent, Apple at 2.55 per cent, Microsoft at 1.91 per cent, Amazon at 1.4 per cent, and Alphabet at 1.16 per cent. Fisher & Paykel Healthcare is the largest local position at 2.77 per cent, followed by Auckland Airport and Infratil. The defensive side is split between New Zealand bonds at 12.6 per cent, international bonds at 14.7 per cent, and cash at 14 per cent. Over one year the fund returned 9.7 per cent, and 12.6 per cent annualised over three years.

The structure reflects a default fund built for members automatically enrolled into KiwiSaver, balancing exposure to global equity markets with a substantial fixed-income and cash buffer. The concentration in big tech names means the fund's growth tilt leans heavily on a narrow slice of the US market.

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