SuperLife NZ Cash

SuperLife NZ Cash charges 0.52% annually, making it one of the costlier options in a category where many funds sit well below 0.40%. That fee includes a 0.1% performance component, unusual for a cash fund where the return is largely determined by short-term interest rates rather than active management skill.

The fund holds 100% in cash and equivalents, but the portfolio stretches well beyond bank deposits. The top holdings include a Local Government Funding Agency bond, a Rabobank floating rate note, Kiwibank term deposits, and instruments from Toyota Finance, Transpower and Auckland Council. This is a diversified short-term fixed income portfolio, not a simple savings account. The fund returned 4.1% over the past year, placing it 3rd in its category, though its three-year and five-year rankings sit further back at 11th and 9th respectively. With $68 million in assets under management, it runs smaller than many of its peers.

The fee structure and the breadth of holdings suggest active positioning across New Zealand's short-term debt market. For a cash fund built to sit at the lowest risk level, the management cost is notable.

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