Westpac Moderate Fund
Moderate Fund is a balanced KiwiSaver fund managed by Westpac. It has 35,325 members and holds $937 million. It opened in 2014.
Fees and returns
- Annual fee
- 0.40% of your balance each year
- Return over 1 year
- +6.5% a year
- Return over 3 years
- +6.4% a year
- Return over 5 years
- +3.1% 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 +3.1% a year. The median for mainstream balanced funds over the same period was +3.8% a year, across 40 funds. This fund is behind that median, by 0.7 percentage points.
What it invests in
International fixed interest 31%, international equities 26%, new zealand fixed interest 21%, australasian equities 11%.
Largest holdings
- Cash and cash equivalents 2.07%
- NVIDIA Corporation 1.39%
- Fisher & Paykel Healthcare Ltd 1.32%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +6.5% |
| 2024/25 | +4.5% |
| 2023/24 | +8.4% |
| 2022/23 | −2.0% |
| 2021/22 | −1.2% |
| 2020/21 | +13.8% |
| 2019/20 | −0.9% |
| 2018/19 | +4.9% |
| 2017/18 | +5.8% |
| 2016/17 | +3.9% |
About this fund
The Westpac Moderate Fund is a diversified fund with a higher target allocation to income assets than growth assets, so fixed interest makes up a larger part of the portfolio than shares. It uses BT Funds' blended active and passive approach, managed under a responsible-investment policy. It has operated since 2014 and carries an annual fund charge of 0.4%.