SuperLife Income

Nearly a fifth of this $279 million fund sits in cash, an unusually high buffer for a fixed interest portfolio that otherwise splits evenly between New Zealand and international bonds. The total annual fee is 0.56 per cent, which includes a 0.1 per cent performance charge alongside the base management cost.

The bond allocation is heavily weighted toward government debt. New Zealand Government Bonds dominate the top ten holdings, with maturities stretching from 2028 out to 2036 and coupon rates ranging from 0.25 per cent to 4.5 per cent. A single Local Government Funding Agency bond rounds out the list. The international bond sleeve, at just over 40 per cent, provides geographic diversification but no detail on its composition is disclosed. The fund returned 3.3 per cent over the year to March 2025, 3.8 per cent annualised over three years, and 0.8 per cent over five.

SuperLife positions this as a risk level 2 option, reflecting its conservative mandate and absence of growth assets. The substantial cash holding adds liquidity and dampens volatility, but also means a large slice of the portfolio earns deposit rates rather than bond yields.

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