Compare BNZ KiwiSaver Scheme Funds

Work out what kind of investor you are to find out which of the six BNZ KiwiSaver Scheme investment funds might be right for you.

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Our investment fund options

The BNZ KiwiSaver Scheme has a choice of six 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 are expected to achieve higher investment returns over the longer term, however you need to be willing to accept more risk.

line little sapling

Cash Fund

No minimum investment timeframe

The Cash Fund has no minimum time to invest and aims to achieve stable returns.

Investment asset mix
100% Income

graph conservative fund

100% inline greencircle Cash & cash equivalents
line home buyer

First Home Buyer Fund

First home buyers 3-5 years, or other investors 1-5 years

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

Investment asset mix
85% Income / 15% Growth

graph conservative fund

60% inline greencircle Cash & cash equivalents
19% inline aquacircle International fixed interest
10% inline bluecircle International equities
6% inline mintcircle New Zealand fixed interest
5% inline tealcircle Australasian equities
line seedling

Conservative Fund

Minimum time to invest: 3 years

Aims to achieve relatively stable returns over the medium term.

Investment asset mix
80% Income / 20% Growth

graph conservative fund

35% inline greencircle Cash & cash equivalents
34% inline aquacircle International  fixed interest
14% inline bluecircle International equities
11% inline mintcircle New Zealand fixed interest
6% inline tealcircle Australasian equities
line pot plant

Moderate Fund

Minimum time to invest: 5 years

The Moderate Fund aims to achieve moderate returns over the medium term.

Investment asset mix
65% Income / 35% Growth

Moderate Fund

41% inline aquacircle International fixed interest
24% inline bluecircle International equities
14% inline mintcircle New Zealand fixed interest
11% inline tealcircle Australasian equities
10% inline greencircle Cash & cash equivalents
line tree

Balanced Fund

Minimum time to invest: 7 years

This fund aims to achieve a medium level of return over the medium to long term.

Investment asset mix
50% Income / 50% Growth

Balanced Fund

34% inline bluecircle International equities
34% inline aquacircle International fixed interest
16% inline tealcircle Australasian equities
11% inline mintcircle New Zealand fixed interest
5% inline greencircle Cash & cash equivalents
line fruit tree

Growth Fund

Minimum time to invest: 10 years

The Growth Fund aims to achieve higher returns over the long term.

Investment asset mix
30% Income / 70% Growth

Growth Fund

46% inline bluecircle International equities
24% inline tealcircle Australasian equities
19% inline aquacircle International fixed interest
6% inline mintcircle New Zealand fixed interest
5% inline greencircle 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.

  • Our funds that invest in New Zealand fixed interest, may include investment in Australian fixed interest assets of between 0% and 20%, through the underlying funds that BNZ KiwiSaver Scheme funds invest in.

  • The fund objectives, target investment mixes, and allowable investment ranges may change from time to time without prior notice to you. The current objectives, target investment mixes and allowable investment ranges are set out in the BNZ KiwiSaver Scheme Statement of Investment Policies and Objectives pdf 90kb.

Fees you can expect to pay 

Member Fee

You’ll pay a fixed Member Fee^ of $1.95 per month ($23.40 per annum). It is used to pay for the general administration of your account.

Management Fee

The management fee 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 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.

FundManagement fee
Cash Fund  0.35% p.a. or less
First Home Buyer Fund 0.50% p.a.
Conservative Fund 0.58% p.a.
Moderate Fund 0.90% p.a.
Balanced Fund 1.00% p.a.
Growth Fund 1.10% p.a.

How our funds are tracking

BNZ KiwiSaver Scheme fund performance to 30 April 2018^. Returns are calculated after deducting Management Fees and before deducting tax. 

 Cash FundFirst Home Buyer Fund^Conservative FundModerate FundBalanced FundGrowth Fund
1 month 0.18% 0.34% 0.33% 0.57% 0.96% 1.50%
3 months 0.53% 0.21% 0.04% -0.27% -0.52% -0.80%
1 year 2.33% 3.97% 4.58% 6.00% 7.40% 9.20%
3 years (per annum) 2.54% N/A 4.67% 5.77% 6.83% 8.12%
5 years (per annum) 2.83% N/A 5.40% 6.88% 8.20% 9.74%
Since inception (per annum)^
 2.78% 4.32% 5.25% 6.67% 7.96% 9.47%

^The three-year and five-year returns on the First Home Buyer Fund, are not yet available as the inception date of this fund was 17 September 2015. 

Help with choosing a fund

Unit prices

Your investment in the BNZ KiwiSaver Scheme is measured in ‘units’ in the fund(s) that you choose to invest in. Your contributions to the Scheme buy units in the fund(s) you have selected at what is known as a ‘unit price’. Each unit represents a share of the fund assets.

Small Print

BNZ Investment Services Limited, a wholly owned subsidiary of BNZ, is the Issuer and Manager of the BNZ KiwiSaver Scheme. Download a copy of the BNZ KiwiSaver Scheme Product Disclosure Statement PDF 1.5MB, or pick up a copy from a BNZ store.

Investments made in the BNZ KiwiSaver Scheme do not represent deposits or other liabilities of BNZ or any other member of the National Australia Bank Limited group, and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. None of BNZ, any other member of the National Australia Bank Limited group, the Supervisor, any director of any of them, the Crown or any other person guarantees (either fully or in part) the performance or returns of the BNZ KiwiSaver Scheme or the repayment of capital.

Information on this page is of a general nature only and does not constitute personalised financial advice. If you would like advice that takes into account your particular financial situation or goals, please contact your financial adviser, or contact BNZ on 0800 269 5494 to arrange a free appointment with one of our Authorised Financial Advisers. BNZ Authorised Financial Advisers' Disclosure Statements are available on request and free of charge.

  1. Growth assets include Australasian equities, and international equities.

  2. Income assets include: cash such as bank call deposits, cash equivalents such as bank term deposits, fixed interest securities such as bonds and floating rate notes with maturities less than 365 days, New Zealand and International fixed interest such as bank term deposits and bonds with maturities more than 365 days.

  3. This fee is deducted from your BNZ KiwiSaver Scheme account in arrears on generally the first business day following the end of each month or part month.

  4. The returns are calculated on the change in the unit price of each fund over the period specified, adjusted for tax credits. Each BNZ KiwiSaver Scheme member's return will vary based on the unit price applicable to each contribution or withdrawal that is made and how long they have been invested for.  Returns represent historical performance only and are not an indication or guarantee of future performance. The value of a fund may rise or fall depending on market conditions.  Returns are calculated after deducting management fees (excluding the monthly member fee) and before deducting tax in accordance with the Income Tax Act 2007. The returns for periods less than and including one year are not annualised. The returns for periods more than one year and since inception are annualised. 

  5. The inception date of the funds, other than the BNZ KiwiSaver Scheme First Home Buyer Fund, for reporting purposes was 11 February 2013. The inception date of the BNZ KiwiSaver Scheme First Home Buyer Fund was 17 September 2015.