Compare and choose funds

Your choice of fund will depend on your investment timeframe and how you feel about risk. For example: How long before you draw on your savings? Do you plan to use your investment to help you buy your first home? How do you feel about your investments going down in value in the short term if they have the potential for higher returns in the long term? 

You can choose from any of our investment options:

Cash Fund 
Default Fund^
Conservative Fund 
Moderate Fund
Balanced Fund 
Growth Fund 

Cash Fund

Investment objective and overview:

  • Aims to provide stable returns over the short term.
  • Invests in income assets of a short term nature such as bank deposits, floating rate notes and money market securities.
  • Volatility is expected to be the lowest of the funds.
  • Long-term returns are likely to be lower than for investments that include growth assets.

Target investment mix:

kiwisaver cash

Recommended minimum investment timeframe: Short term.

Risk indicator*:

Risk Graph 4 Risk 1

Fees and charges: Administration fee $2.25 per month; annual fund charge 0.45%.

Cash Fund performance

 

Default Fund^

Investment objective and overview:

  • Aims to provide stable returns over the short to medium term.
  • Invests primarily in income assets, but is required to have an allocation to growth assets of between 15% and 25%.
  • Volatility is expected to be higher than the Cash Fund but lower than the Conservative Fund.
  • Returns will vary and may be low or negative at times.

Target investment mix:

kiwisaver default

Recommended minimum investment timeframe: Short to medium term.

Risk indicator*#:

Risk Graph 4 Risk 2

Fees and charges: Administration fee $2.25 per month; annual fund charge 0.54%.

Default Fund performance

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Conservative Fund

Investment objective and overview:

  • Aims to provide stable returns over the short term.
  • Invests primarily in income assets but also has an allocation to growth assets.
  • Volatility is expected to be higher than the Default Fund but lower than the Moderate Fund.
  • Returns will vary and may be low or negative at times.

Target investment mix:

kiwisaver conservative

Recommended minimum investment timeframe: Short to medium term.

Risk indicator*:

Risk Graph 4 Risk 3

Fees and charges: Administration fee $2.25 per month; annual fund charge 0.74%.

Conservative Fund performance

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Moderate Fund

Investment objective and overview:

  • Aims to provide moderate level returns over the medium term.
  • Has a higher benchmark allocation to income assets than to growth assets.
  • Volatility is expected to be higher than the Conservative Fund but lower than the Balanced Fund.
  • Returns will vary and may be low or negative at times.

Target investment mix:

kiwisaver moderate

Recommended minimum investment timeframe: Medium term.

Risk indicator*#:

Risk Graph 4 Risk 3

Fees and charges: Administration fee $2.25 per month; annual fund charge 0.83%.

Moderate Fund performance

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Balanced Fund

Investment objective and overview:

  • Aims to provide medium level returns over the medium to long term.
  • Has a higher benchmark allocation to growth assets than to income assets.
  • Volatility is expected to be higher than the Moderate Fund but lower than the Growth Fund.
  • Returns will vary and may be low or negative at times.

Target investment mix:

kiwisaver balanced

Recommended minimum investment timeframe: Medium to long term.

Risk indicator*:

Risk Graph 4 Risk 3

Fees and charges: Administration fee $2.25 per month; annual fund charge 0.89%.

Balanced Fund performance

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Growth Fund

Investment objective and overview:

  • Aims to provide higher returns over the long term.
  • Invests primarily in growth assets but also has an allocation to income assets.
  • Volatility is expected to be the highest of the funds.
  • Returns will vary and are likely to be low or negative at times.

Target investment mix:

kiwisaver growth

Recommended minimum investment timeframe: Long term.

Risk indicator*:

Risk Graph 4 Risk 4

Fees and charges: Administration fee $2.25 per month; annual fund charge 0.97%.

Growth Fund performance

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Understanding the risk indicator

Managed funds in New Zealand must have a standard risk indicator. The risk indicator is designed to help you understand the uncertainties – both for loss and growth – that may affect your investment. You can compare funds using the risk indicator.

This is rated from 1 (low) to 7 (high). The rating reflects how much the value of the fund’s assets goes up and down (volatility). A higher risk generally means higher potential returns over time, but more ups and downs along the way.

Some of the things that may cause a fund’s value to fluctuate, and affect the risk indicator, are: asset allocation, market risk, investment manager risk, credit risk, derivatives risk, liquidity risk and concentration risk. Find out more about these in the Westpac KiwiSaver Scheme Product Disclosure Statement.

To help you clarify your own attitude to risk, seek financial advice or work out your risk profile click here.

Target investment mix. Each fund has a long-term target investment mix. The actual investment mix will vary from the target investment mix as market prices change, and if we pursue tactical investment opportunities or seek to protect asset values in periods of economic volatility. These variations may be significant but are restricted by permitted ranges for each asset class. We may alter the target investment mix and the ranges for each fund at any time. For further information about each fund's investment activities see the Statement of Investment Policy and Objectives (SIPO) on Disclose.

Income assets. Cash and fixed interest assets are referred to as income assets because they generate income in the form of interest payments. Income assets are generally considered less volatile than growth assets, so while the values will go up and down (and at times may be negative) they won’t usually move to the same extent as growth assets. Over the long term, income assets will usually provide lower returns than growth assets.

Growth assets. Equities and listed property are referred to as growth assets because (though they involve more risk) they have greater potential to achieve capital growth over the medium to long term than income assets. The value of growth assets will fluctuate more than income assets, and growth assets are more likely to experience periods of negative returns.

Other (alternative investments). Alternative investments can include hedge funds, absolute return funds, venture capital and private equity. Strategies like gearing and short selling may be used in some alternative investments. They are currently treated as growth assets.

Investment timeframes. Generally when referring to investment timeframes, short term means less than three years, short to medium term means three to five years, medium term means five years, medium to long term means five to ten years and long term means ten years or more.

Currency exposure. Foreign currency exposures in the funds (with the exception of the Cash Fund) may be fully or partially hedged as we consider appropriate. For more details on our currency strategy, see the SIPO.

Use of derivatives. A derivative is any financial contract whose value depends on (or ‘derives’ from) the value of underlying assets such as equities, fixed interest, commodities, currency or cash. Examples of derivatives include swaps, futures contracts, options and forward rate agreements. Derivatives may be used by the funds in relation to each asset class and may be held directly or indirectly. The use of derivatives may be more extensive in the international fixed interest and other (alternative investments) asset classes. For more details on derivatives and their use, see the SIPO.