Simplicity Defensive Fund
Defensive Fund is a defensive KiwiSaver fund managed by Simplicity. It has 1,432 members and holds $101 million. It opened in 2023.
Fees and returns
- Annual fee
- 0.25% of your balance each year
- Return over 1 year
- +2.5% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
What it invests in
Cash and cash equivalents 95%.
Largest holdings
- Cash at Bank 10.3%
- KIWI Float 13/06/2028 7.71%
- Wstp Nfix3Fra + 73 06/07/2026 7.46%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +2.5% |
| 2024/25 | +4.6% |
About this fund
The Simplicity Defensive Fund is a passively managed, index-tracking defensive fund invested mostly in income assets — cash and fixed interest — with very limited growth exposure through unlisted property (Simplicity Living). It is highly diversified and ethically screened under Simplicity's Responsible Investment Policy. Suggested for a minimum timeframe of two years, it has operated since 2023 and carries an annual fund charge of 0.25%.