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BNZ KiwiSaver Scheme
BNZ KiwiSaver Scheme is a KiwiSaver provider that runs 8 KiwiSaver funds, has 257,226 members, manages $6.8 billion, or 5.0% of the KiwiSaver market.
About BNZ KiwiSaver Scheme
BNZ is one of the newer major-bank KiwiSaver providers, with its own scheme launched in 2013 after previously white-labelling other providers. It became a government-appointed default provider in 2014 and was reappointed in 2021. The scheme is managed by BNZ Investment Services, now part of Harbour Asset Management, with funds run on a mix of active and passive management rather than the older multi-manager model. The range spans eight funds from Cash to High Growth, including a default fund and first-home-buyer option, with low, flat fees for a bank-backed scheme.
Key facts
- Ownership
- Australian-owned
- KiwiSaver scheme established
- 2013
- Investment approach
- Active/passive mix
- KiwiSaver funds under management
- $6.8 billion (5.0% of the KiwiSaver market)
- Members
- 257,226
- Average member balance
- $26,425
- KiwiSaver funds offered
- 8
- Annual fee range
- 0.30% – 0.45%
Fund range by risk profile
- Defensive: 1 fund
- Conservative: 2 funds
- Balanced: 3 funds
- Growth: 1 fund
- Aggressive: 1 fund
How has BNZ KiwiSaver performed?
Over the last 5 years, their highest-returning fund was the Growth Fund, at +5.6% a year after fees and tax.
| Risk profile | Fund | Return |
|---|---|---|
| Defensive | BNZ Kiwisaver Cash Fund | +2.3% |
| Conservative | BNZ Kiwisaver Conservative Fund | +3.7% |
| Balanced | BNZ Kiwisaver Default Fund | +8.4% |
| Growth | BNZ Kiwisaver Growth Fund | +9.7% |
| Aggressive | BNZ Kiwisaver High Growth Fund | +11.4% |
KiwiSaver funds offered by BNZ KiwiSaver Scheme
| Fund | Risk profile | Annual fee | 1 year | 5 years p.a. |
|---|---|---|---|---|
| BNZ Kiwisaver Cash Fund | Defensive | 0.30% | +2.3% | +2.5% |
| BNZ Kiwisaver Conservative Fund | Conservative | 0.45% | +3.7% | +2.1% |
| BNZ Kiwisaver First Home Buyer Fund | Conservative | 0.45% | +3.4% | +2.6% |
| BNZ Kiwisaver Balanced Fund | Balanced | 0.45% | +7.8% | +4.4% |
| BNZ Kiwisaver Default Fund | Balanced | 0.35% | +8.4% | Not reported |
| BNZ Kiwisaver Moderate Fund | Balanced | 0.45% | +5.9% | +3.3% |
| BNZ Kiwisaver Growth Fund | Growth | 0.45% | +9.7% | +5.6% |
| BNZ Kiwisaver High Growth Fund | Aggressive | 0.45% | +11.4% | Not reported |
Figures are after fund charges and tax, sourced from the FMA Disclose Register. Past performance is not a reliable indicator of future returns.