BNZ KiwiSaver Moderate Fund
BNZ Kiwisaver Moderate Fund is a balanced KiwiSaver fund managed by BNZ. It has 26,951 members and holds $842 million. It opened in 2013.
Fees and returns
- Annual fee
- 0.45% of your balance each year
- Return over 1 year
- +5.9% a year
- Return over 3 years
- +6.6% a year
- Return over 5 years
- +3.3% 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 +3.3% 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 0.5 percentage points.
What it invests in
International fixed interest 33%, international equities 27%, cash and cash equivalents 16%, australasian equities 13%.
Largest holdings
- Fisher & Paykel Healthcare Ltd 2.1%
- NVIDIA Corp 1.29%
- Infratil Ltd 1.28%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +5.9% |
| 2024/25 | +4.9% |
| 2023/24 | +9.0% |
| 2022/23 | −2.0% |
| 2021/22 | −0.7% |
| 2020/21 | +11.4% |
| 2019/20 | +1.5% |
| 2018/19 | +4.4% |
| 2017/18 | +5.8% |
| 2016/17 | +6.8% |
About this fund
The BNZ KiwiSaver Moderate Fund holds more income assets than growth, giving it a cautious profile within the balanced-risk category. It aims for moderate returns over a suggested minimum of five years. It has an annual fund charge of 0.45%.