Westpac Conservative Fund
Conservative Fund is a conservative KiwiSaver fund managed by Westpac. It has 139,795 members and holds $3.2 billion. It opened in 2007.
Fees and returns
- Annual fee
- 0.40% of your balance each year
- Return over 1 year
- +4.8% a year
- Return over 3 years
- +5.1% a year
- Return over 5 years
- +2.4% 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 +2.4% a year. The median for mainstream conservative funds over the same period was +2.2% a year, across 29 funds. This fund is ahead of that median, by 0.2 percentage points.
What it invests in
International fixed interest 37%, new zealand fixed interest 25%, international equities 16%, cash and cash equivalents 12%.
Largest holdings
- Cash and cash equivalents 1.86%
- NZ Government Bond 4.5% 15/05/2035 1.21%
- NZ Government Bond 4.25% 15/05/2034 1.1%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +4.8% |
| 2024/25 | +4.1% |
| 2023/24 | +6.4% |
| 2022/23 | −1.5% |
| 2021/22 | −1.4% |
| 2020/21 | +9.0% |
| 2019/20 | +0.2% |
| 2018/19 | +4.3% |
| 2017/18 | +4.6% |
| 2016/17 | +2.9% |
About this fund
The Westpac Conservative Fund is a conservative fund with a target of about 25% growth assets and 75% income assets, invested primarily in income assets with a modest share allocation. It uses BT Funds' blended active and passive approach, managed under a responsible-investment policy. It has operated since 2007 and carries an annual fund charge of 0.4%.