Compare BNZ KiwiSaver Scheme Funds

Find out which of the BNZ KiwiSaver Scheme investment funds might suit you best.

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Our investment fund options

The BNZ KiwiSaver Scheme has a range of funds to invest in, each offering a different level of potential return depending on the types of assets the funds are invested in, and the amount of risk you’re willing to take. 

Growth assets^ will typically experience larger movements in value compared to income assets^, so they have the potential to achieve higher investment returns over the longer term, however you need to be willing to accept more risk.

High Growth Fund

Minimum suggested investment timeframe:
12 years

Aims to achieve the highest returns of the Funds over the long term.

Target investment mix
100% growth assets^

Pie chart showing the distribution of investments in a Growth Fund. The percentages are described after the image.

67% International equities
33% Australasian equities

Growth Fund

Minimum suggested investment timeframe:
10 years

Aims to achieve higher returns over the long term.
                         

Target investment mix
20% income, 80% growth assets

Pie chart showing the distribution of investments in a Growth Fund. The percentages are described after the image.

53% International equities
27% Australasian equities
14% International fixed interest
5% New Zealand fixed interest
1% Cash & cash equivalents

Balanced Fund^

Minimum suggested investment timeframe:
7 years

Aims to achieve a medium level of return over the medium to long term.

Target investment mix
40% income, 60% growth assets

Pie chart showing the distribution of investments in a Balanced Fund. The percentages are described after the image.

40% International equities
26% International fixed interest
20% Australasian equities
9% New Zealand fixed interest
5% Cash & cash equivalents

Default Fund^

Minimum suggested investment timeframe:
7 years

Aims to achieve a medium level of return over the medium to long term.

Target investment mix
40% income, 60% growth assets

Pie chart showing the distribution of investments in a Default Fund. The percentages are described after the image.

40% International equities
26% International fixed interest
20% Australasian equities
9% New Zealand fixed interest
5% Cash & cash equivalents

Moderate Fund

Minimum suggested investment timeframe:
5 years

Aims to achieve moderate returns over the medium term.

Target investment mix
60% income, 40% growth assets

Pie chart showing the distribution of investments in a Moderate Fund. The percentages are described after the image.

34% International fixed interest
27% International equities
15% Cash & cash equivalents
13% Australasian equities
11% New Zealand fixed interest

Conservative Fund

Minimum suggested investment timeframe:
3 years

Aims to achieve relatively stable returns over the short to medium term.

Target investment mix
80% income, 20% growth assets

Pie chart showing the distribution of investments in a Conservative Fund. The percentages are described after the image.

41% International fixed interest
25% Cash & cash equivalents
14% New Zealand fixed interest
13% International equities
7% Australasian equities

First Home Buyer Fund

Minimum suggested investment timeframe:
3 years

Aims to achieve relatively stable returns over the short to medium term.

Target investment mix
85% income, 15% growth assets

Pie chart showing the distribution of investments in a First Home Buyer Fund. The percentages are described after the image.

60% Cash & cash equivalents
19% International fixed interest
10% International equities
6% New Zealand fixed interest
5% Australasian equities

Cash Fund

No minimum suggested investment timeframe

Aims to achieve stable returns over the short term.

Target investment mix
100% income assets

graph cash fund

100% Cash & cash equivalents

About the mix of our investments

  • The actual investment mixes may vary, depending on market movements and other factors, within allowable investment ranges.

  • The Fund objectives, target investment mixes, and allowable investment ranges may change from time to time without prior notice to you. The objectives, target investment mixes, and allowable investment ranges are set out in the current BNZ KiwiSaver Scheme Statement of Investment Policies and Objectives (SIPO) PDF 470KB

Management fee

The management fee is the only fee you’ll pay with the BNZ KiwiSaver Scheme. It is used to pay for the management of each fund’s assets, including underlying investment costs, the Supervisor’s fee and administration costs of the Funds (such as audit fees, registry services and unit pricing and accounting services).

The management fee is calculated as a percentage of the net asset value of each Fund, and is already deducted from your investment, so returns will be reduced. You don’t need to pay this separately and it doesn’t appear as a transaction on your account. More about how our fees work

How our funds are tracking

BNZ KiwiSaver Scheme Fund performance to 30 June 2026.^

Returns are calculated after deducting Management Fees but before deducting tax.

Past performance is no guarantee or indication of future performance.

BNZ KiwiSaver Scheme quarterly fund updates

Help with choosing a fund

KiwiSaver calculator

See how changing your fund or contribution rate could have a big impact on potential savings for the future.

Calculate your savings

Product Disclosure Statement

Before making any investment decision, read the Product Disclosure Statement (PDF 675KB) to find out key information about the BNZ KiwiSaver Scheme.

BNZ KiwiSaver Scheme unit prices

When you invest in a BNZ KiwiSaver Scheme fund, you’re issued with ‘units’ in that fund. Each unit has a unit price. Whenever you make a change which requires you to buy or sell units in the fund, a buy or sell spread is applied to the unit price. Any contribution into a fund will use the ‘buy price’, and any withdrawal from a fund will use the ‘sell price’.

Unit prices may go up or down between the time it takes to submit your contribution, transfer, withdrawal, or fund switch request, and the time it’s received and approved, and the date the relevant units are actually issued or redeemed.

The latest available buy and sell unit prices are shown below. You can view previous prices using the date selector. 

BNZ Investment Services Limited, a wholly owned subsidiary of Harbour Asset Management Limited, is the Issuer and Manager of the BNZ KiwiSaver Scheme. Download a copy of the BNZ KiwiSaver Scheme Product Disclosure Statement PDF 1.1MB, or pick up a copy from a BNZ branch.

Investments in the BNZ KiwiSaver Scheme are not bank deposits or other liabilities of Bank of New Zealand (BNZ) or any other member of the National Australia Bank Limited group. They are subject to investment risk, including possible delays in repayment. You could get back less than the total contributed. No person (including the New Zealand Government) guarantees (either fully or in part) the performance or returns of the BNZ KiwiSaver Scheme or the repayment of amounts contributed. National Australia Bank Limited, the ultimate owner of BNZ, is not a registered bank in New Zealand but a licensed bank in Australia and is not authorised to offer the products and services mentioned on this webpage to customers in New Zealand.

BNZ Investment Services Limited (BNZISL) uses the BNZ brand under licence from Bank of New Zealand, whose ultimate parent company is National Australia Bank Limited. No member of the FirstCape group (including BNZISL) is a member of the NAB group of companies (NAB Group). No member of the NAB Group (including Bank of New Zealand) guarantees, or supports, the performance of any member of FirstCape group’s obligations to any party.

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