ANZ Conservative Balanced Fund
Conservative Balanced Fund is a conservative KiwiSaver fund managed by ANZ. It is offered through the ANZ KiwiSaver Scheme. It has 40,701 members and holds $1.7 billion. It opened in 2007.
Fees and returns
- Annual fee
- 0.73% of your balance each year
- Return over 1 year
- +4.9% a year
- Return over 3 years
- +4.6% a year
- Return over 5 years
- +2.3% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
How it compares
Over the last five years this fund returned +2.3% a year. The median for mainstream conservative funds over the same period was +2.2% a year, across 28 funds. This fund is ahead of that median, by 0.1 percentage points.
What it invests in
International fixed interest 36%, international equities 23%, new zealand fixed interest 15%, cash and cash equivalents 13%.
Largest holdings
- Receivables 12.16%
- Other 1.62%
- FNMA 30Yr Conventional 150534 0.00 TBA 1.58%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +4.9% |
| 2024/25 | +2.7% |
| 2023/24 | +6.1% |
| 2022/23 | −3.0% |
| 2021/22 | +0.9% |
| 2020/21 | +12.7% |
| 2019/20 | +0.2% |
| 2018/19 | +4.9% |
| 2017/18 | +4.1% |
| 2016/17 | +3.7% |
About this fund
The Conservative Balanced Fund invests mainly in income assets (cash and fixed interest) with a meaningful allocation to growth assets (shares, listed property and infrastructure), and may hold some alternative assets. It sits at the higher-growth end of the conservative category. This is the ANZ KiwiSaver Scheme version, managed in-house by ANZ Investments; the same strategy runs in OneAnswer. Annual fund charge: 0.73%.