NZ Funds Inflation Strategy
Inflation Strategy is an aggressive KiwiSaver fund managed by NZ Funds. It has 22,189 members and holds $215 million. It opened in 2010.
Fees and returns
- Annual fee
- 1.42% of your balance each year
- Return over 1 year
- +7.5% a year
- Return over 3 years
- +3.4% 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 mainstream aggressive funds over the same period was +6.3% a year, across 13 funds. This fund is behind that median, by 8.6 percentage points.
What it invests in
Australasian equities 30%, international equities 26%, listed property 22%, cash and cash equivalents 21%.
Largest holdings
- Westpac Cash 3.83%
- Goldman Sachs Futures 2.81%
- Telstra Corp Ltd 2.73%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +7.5% |
| 2024/25 | +0.8% |
| 2023/24 | +2.1% |
| 2022/23 | −9.3% |
| 2021/22 | −11.2% |
| 2020/21 | +46.1% |
| 2019/20 | −3.0% |
| 2018/19 | +4.9% |
| 2017/18 | +3.0% |
| 2016/17 | +4.8% |
About this fund
The NZ Funds Inflation Strategy is an actively managed fund built to mitigate inflation, investing in a wide range of New Zealand, Australian and global property, utility and infrastructure assets whose revenues are often contractually linked to inflation — such as rents, road tolls and airport fees. It also uses derivatives and other active tools. It is one of three underlying Strategies in the NZ Funds scheme. It has operated since 2010 and carries an annual fund charge of 1.42%.