SuperLife UK Cash

A £2.8 million fund holding 100 percent cash, denominated entirely in British pounds and parked with BNP Paribas in London, this is currency exposure dressed as a KiwiSaver option. SuperLife UK Cash returned 5.8 percent over the past year, driven by sterling interest rates and the New Zealand dollar's movement against the pound. Its total fee of 0.49 percent sits at the upper end for a cash product, though the operational complexity of maintaining offshore currency accounts explains part of the cost.

The fund holds no shares, no bonds, no property. Nearly all assets sit in a single GBP cash account, with a sliver in New Zealand dollars for liquidity. This is a pure currency play for members with UK ties, whether earning in pounds, planning a move to Britain, or holding liabilities there. The five-year return of 5.6 percent annualised reflects both interest earned and exchange rate shifts, a reminder that currency funds carry volatility even when the underlying asset is cash.

Scale remains modest at under $3 million in total assets. The fund sits in the Miscellaneous category, outside the standard growth and income classifications, reflecting its niche role as a currency hedge rather than a long-term accumulation vehicle.

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