BNZ KiwiSaver Conservative Fund
BNZ Kiwisaver Conservative Fund is a conservative KiwiSaver fund managed by BNZ. It has 33,314 members and holds $917 million. It opened in 2013.
Fees and returns
- Annual fee
- 0.45% of your balance each year
- Return over 1 year
- +3.7% a year
- Return over 3 years
- +4.7% a year
- Return over 5 years
- +2.1% 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 +2.1% a year. The median for mainstream conservative funds over the same period was +2.3% a year, across 29 funds. This fund is behind that median, by 0.2 percentage points.
What it invests in
International fixed interest 39%, cash and cash equivalents 26%, new zealand fixed interest 15%, international equities 13%.
Largest holdings
- ASB Bank Ltd Registered Certificate of Deposit 03/08/2026 1.65%
- ASB Bank Ltd Registered Certificate of Deposit 10/12/2026 1.63%
- Westpac New Zealand Ltd 1.51%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +3.7% |
| 2024/25 | +4.2% |
| 2023/24 | +6.1% |
| 2022/23 | −1.6% |
| 2021/22 | −1.7% |
| 2020/21 | +5.5% |
| 2019/20 | +1.8% |
| 2018/19 | +3.2% |
| 2017/18 | +4.2% |
| 2016/17 | +4.7% |
About this fund
The BNZ KiwiSaver Conservative Fund invests mostly in income assets — fixed interest and cash — with a modest allocation to growth assets. It aims for relatively stable returns over a suggested minimum of three years. It has an annual fund charge of 0.45%.