Milford KiwiSaver Moderate Fund
Milford Kiwisaver Moderate Fund is a balanced KiwiSaver fund managed by Milford. It has 6,964 members and holds $308 million. It opened in 2020.
Fees and returns
- Annual fee
- 0.95% of your balance each year
- Return over 1 year
- +3.2% a year
- Return over 3 years
- +5.4% 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
International fixed interest 28%, new zealand fixed interest 23%, international equities 21%, cash and cash equivalents 13%.
Largest holdings
- Cash at Bank NZD 8.11%
- Nzgv 4.5% 15/05/2035 2.97%
- Cash at Bank USD 1.67%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +3.2% |
| 2024/25 | +4.9% |
| 2023/24 | +8.1% |
| 2022/23 | +0.1% |
| 2021/22 | +1.9% |
| 2020/21 | +14.8% |
About this fund
The Milford KiwiSaver Moderate Fund is an actively managed diversified fund that invests primarily in fixed-interest securities with a smaller allocation to equities, so it carries more income than growth. As an active fund the manager shapes the portfolio rather than tracking an index. Its fee has two parts: a base fund charge of 0.95% plus a performance fee. Designed for a minimum timeframe of four years, it has operated since 2020.