Westpac Conservative Fund

A fund managing $3.2 billion with a 0.4 percent total fee stands seventh in the Moderate category over one year, returning 7.3 percent. Westpac Conservative Fund splits roughly three-quarters of its portfolio between bonds and cash, with 26 percent in growth assets including shares and listed property. The allocation tilts international, with 37 percent in overseas bonds against 25 percent in New Zealand government and corporate debt, plus 16 percent in international equities and 6 percent in Australasian shares.

The top ten holdings read like a New Zealand government bond ladder. Six of the ten largest positions are NZ Government Bonds with maturities ranging from 2033 to 2054, alongside a US five-year treasury note. The equity slice surfaces in single positions: NVIDIA at 0.85 percent and Fisher & Paykel Healthcare at 0.72 percent. No individual holding exceeds 1.21 percent, reflecting a widely distributed structure across hundreds of securities.

Over three years the fund returned 7.8 percent annualised, placing twelfth in category, though the five-year figure drops to 3.1 percent. The name says conservative, but the category assignment is Moderate, reflecting the quarter of the portfolio in growth assets. The structure is a fixed-income core with a measured equity overlay, built around government debt and diversified international bonds.

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