ASB Moderate Fund
Moderate Fund is a balanced KiwiSaver fund managed by ASB. It has 72,888 members and holds $3.1 billion. It opened in 2007.
Fees and returns
- Annual fee
- 0.60% of your balance each year
- Return over 1 year
- +7.1% a year
- Return over 3 years
- +7.0% a year
- Return over 5 years
- +3.6% 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 +3.6% a year. The median for mainstream balanced funds over the same period was +3.8% a year, across 40 funds. This fund is behind that median, by 0.2 percentage points.
What it invests in
New zealand fixed interest 33%, international equities 26%, international fixed interest 25%, australasian equities 6%.
Largest holdings
- Westpac Deposit Acc 1.96%
- New Zealand Government 200429 3.0 Gb 1.94%
- New Zealand Govt 200935 2.50 Indexed Bond 1.73%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +7.1% |
| 2024/25 | +5.5% |
| 2023/24 | +8.4% |
| 2022/23 | −1.7% |
| 2021/22 | −1.0% |
| 2020/21 | +12.1% |
| 2019/20 | −1.8% |
| 2018/19 | +6.0% |
| 2017/18 | +5.0% |
| 2016/17 | +5.4% |
About this fund
The ASB Moderate Fund holds more income assets than growth (around 64% income, 36% growth), giving it a cautious profile within the balanced-risk category. Managed on a mainly index-tracking basis, it aims for moderate returns with moderate movements in value over a suggested minimum of four years. It has an annual fund charge of 0.60%.