SuperLife Income

Nearly a fifth of this fund sits in cash, with the remaining $279 million split almost evenly between New Zealand and international bonds. SuperLife Income is a pure fixed interest fund, holding no shares or property, built for capital preservation over growth.

The bond portfolio is dominated by New Zealand government debt, with maturities spread from 2028 to 2036 and coupons ranging from 0.25% to 4.5%. International bonds make up just over 40% of the fund, though the top ten holdings include only a single US Treasury note. The fund returned 3.3% over the year to March 2024, with a three-year annualised return of 3.8%. The five-year figure of 0.8% reflects the sharp bond sell-off of 2022 and 2023, when rising interest rates hammered fixed income globally.

Total fees sit at 0.56%, including a 0.54% management charge and a 0.1% performance fee. The fund carries a risk level of 2, placing it at the conservative end of the KiwiSaver spectrum. It holds no equities and makes no bet on economic growth, positioning itself as a low-volatility option anchored by government credit.

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