OneAnswer Conservative Fund
Conservative Fund is a conservative KiwiSaver fund managed by ANZ. It is offered through the OneAnswer KiwiSaver Scheme. It has 13,656 members and holds $469 million. It opened in 2007.
Fees and returns
- Annual fee
- 0.60% of your balance each year
- Return over 1 year
- +3.5% a year
- Return over 3 years
- +3.7% a year
- Return over 5 years
- +1.7% 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 +1.7% a year. The median for mainstream conservative funds over the same period was +2.3% a year, across 28 funds. This fund is behind that median, by 0.6 percentage points.
What it invests in
International fixed interest 44%, new zealand fixed interest 19%, cash and cash equivalents 17%, international equities 13%.
Largest holdings
- Receivables 12.84%
- Other 2.0%
- FNMA 30Yr Conventional 150534 0.00 TBA 1.92%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +3.5% |
| 2024/25 | +3.0% |
| 2023/24 | +4.7% |
| 2022/23 | −2.4% |
| 2021/22 | −0.4% |
| 2020/21 | +7.3% |
| 2019/20 | +1.9% |
| 2018/19 | +4.0% |
| 2017/18 | +3.1% |
| 2016/17 | +2.4% |
About this fund
The Conservative Fund invests mainly in income assets (cash and fixed interest) with a smaller allocation to growth assets (shares, listed property and infrastructure), and may hold some alternative assets. It aims for steadier returns with small movements in value. It sits in OneAnswer, ANZ's wider self-select scheme for building your own fund mix, and is managed in-house by ANZ Investments; the same strategy runs in the ANZ scheme. Annual fund charge: 0.60%.