Mercer Conservative Fund
Conservative Fund is a conservative KiwiSaver fund managed by Mercer. It has 801 members and holds $13 million. It opened in 2015.
Fees and returns
- Annual fee
- 0.67% of your balance each year
- Return over 1 year
- +4.0% a year
- Return over 3 years
- +4.3% a year
- Return over 5 years
- +2.2% 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 +2.2% 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 0.1 percentage points.
What it invests in
International fixed interest 33%, new zealand fixed interest 27%, cash and cash equivalents 20%, international equities 15%.
Largest holdings
- New Zealand Government 150528 0.25 Gb 2.68%
- New Zealand Government 200429 3.0 Gb 2.6%
- New Zealand Government 140433 3.50 Gb 2.53%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +4.0% |
| 2024/25 | +4.1% |
| 2023/24 | +4.8% |
| 2022/23 | −1.8% |
| 2021/22 | 0.0% |
| 2020/21 | +6.6% |
| 2019/20 | +0.5% |
| 2018/19 | +3.6% |
| 2017/18 | +3.5% |
| 2016/17 | +3.5% |
About this fund
The Conservative Fund is a diversified conservative fund on Mercer's multi-manager structure, investing mostly in defensive assets such as fixed interest and cash, with limited exposure to growth assets such as shares and real assets. It is managed by Mercer. It has operated since 2015 and carries an annual fund charge of 0.67%.