ASB Conservative Fund
Conservative Fund is a conservative KiwiSaver fund managed by ASB. It has 129,743 members and holds $3.7 billion. It opened in 2007.
Fees and returns
- Annual fee
- 0.40% of your balance each year
- Return over 1 year
- +5.4% a year
- Return over 3 years
- +5.5% a year
- Return over 5 years
- +2.6% 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 +2.6% a year. The median for mainstream conservative funds over the same period was +2.2% a year, across 29 funds. This fund is ahead of that median, by 0.4 percentage points.
What it invests in
New zealand fixed interest 34%, international fixed interest 30%, international equities 14%, cash and cash equivalents 13%.
Largest holdings
- Westpac Deposit Acc 5.92%
- ASB Bank Account NZD 2.02%
- New Zealand Govt 200935 2.50 Indexed Bond 1.89%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +5.4% |
| 2024/25 | +5.1% |
| 2023/24 | +6.0% |
| 2022/23 | −1.2% |
| 2021/22 | −2.0% |
| 2020/21 | +6.5% |
| 2019/20 | +1.0% |
| 2018/19 | +4.8% |
| 2017/18 | +3.6% |
| 2016/17 | +4.0% |
About this fund
The ASB Conservative Fund invests mainly in income assets (around 80%) — fixed interest and cash — with a smaller allocation to growth assets. Managed on a mainly index-tracking basis, it aims for modest returns with modest movements in value over a suggested minimum of three years. It has an annual fund charge of 0.40%.