Pie Funds PIE KiwiSaver Conservative Fund
PIE Kiwisaver Conservative Fund is a conservative KiwiSaver fund managed by Pie Funds. It has 877 members and holds $31 million. It opened in 2018.
Fees and returns
- Annual fee
- 0.78% of your balance each year
- Return over 1 year
- +6.3% a year
- Return over 3 years
- +6.6% a year
- Return over 5 years
- +1.8% 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 +1.8% a year. The median for mainstream conservative funds over the same period was +2.2% a year, across 29 funds. This fund is behind that median, by 0.4 percentage points.
What it invests in
International fixed interest 31%, cash and cash equivalents 22%, new zealand fixed interest 21%, international equities 20%.
Largest holdings
- Pie Conservative Fund 97.77%
- Cash at Bank 1.56%
- Cash at Bank 0.97%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +7.1% |
| 2024/25 | +4.3% |
| 2023/24 | +8.3% |
| 2022/23 | −1.2% |
| 2021/22 | −6.2% |
| 2020/21 | +11.5% |
| 2019/20 | +3.2% |
About this fund
The Pie KiwiSaver Conservative Fund is an actively managed conservative fund that invests primarily in fixed interest and cash with an allocation to equities, held directly and through other funds managed by Pie Funds. It is run by Pie Funds, a New Zealand-owned boutique active manager. Aiming to preserve capital with modest growth over a minimum timeframe of three years, it has operated since 2018 and carries an annual fund charge of 0.78%.