Westpac Default Balanced Fund
Default Balanced Fund is a balanced KiwiSaver fund managed by Westpac. It has 72,524 members and holds $999 million. It opened in 2021.
Fees and returns
- Annual fee
- 0.40% of your balance each year
- Return over 1 year
- +7.7% a year
- Return over 3 years
- +7.5% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
What it invests in
International equities 34%, international fixed interest 28%, new zealand fixed interest 17%, australasian equities 13%.
Largest holdings
- Cash and cash equivalents 2.45%
- NVIDIA Corporation 1.82%
- Fisher & Paykel Healthcare Ltd 1.55%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +7.7% |
| 2024/25 | +4.8% |
| 2023/24 | +9.8% |
| 2022/23 | −2.2% |
About this fund
The Westpac Default Balanced Fund is a diversified balanced fund with an equal target allocation to growth and income assets, offered as a government-appointed KiwiSaver default option. It uses BT Funds' blended active and passive approach, managed under a responsible-investment policy. It has operated since 2021 and carries an annual fund charge of 0.4%.