New Zealand Defence Force Cash Fund
Cash Fund is a defensive KiwiSaver fund managed by Mercer. It is offered through the New Zealand Defence Force KiwiSaver Scheme. It has 216 members and holds $4 million. It opened in 2015.
Fees and returns
- Annual fee
- 0.43% of your balance each year
- Return over 1 year
- +2.1% a year
- Return over 3 years
- +3.2% a year
- Return over 5 years
- +2.3% 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 +2.3% a year. The median for cash funds over the same period was +2.5% a year, across 12 funds. This fund is behind that median, by 0.2 percentage points.
What it invests in
Cash and cash equivalents 100%.
Largest holdings
- Asb Bank Ltd 040526 1.646 Cb 6.02%
- New Zealand Local Government Funding Agency 150426 1.50 Gb 4.42%
- Westpac New Zealand 060726 Frn 4.26%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +2.1% |
| 2024/25 | +3.6% |
| 2023/24 | +3.8% |
| 2022/23 | +2.1% |
| 2021/22 | +0.1% |
| 2020/21 | 0.0% |
| 2019/20 | +0.9% |
| 2018/19 | +1.3% |
| 2017/18 | +1.3% |
About this fund
The Cash Fund is a defensive fund invested entirely in cash and short-term interest-bearing investments, with no growth assets. Its return path tracks short-term interest rates. It is managed by Mercer, has operated since 2015 and carries an annual fund charge of 0.43%.