Past performance.

Fund name 
1 Yr   3 Yrs 5 Yrs  10 Yrs
Westpac KiwiSaver Scheme Moderate Fund 8.36% 1.61% 3.43% n/a

As the Moderate Fund launched on 2 July 2014, 10 year returns are not available. Past performance is not a reliable indication of future performance.2

What this fund invests in.

Our funds invest in the same assets (for example income assets like cash and growth assets like shares or equities) just in different ratios. This means each fund will have a different level of risk and return.

Our Westpac KiwiSaver Scheme Moderate Fund is made up of:

  • 60% Income assets (8% Cash and cash equivalents, 21% NZ fixed interest, 31% International fixed interest) and
  • 40% Growth assets (24% International equities, 12% Australasian equities, 4% Listed property).
Target asset allocation

60% Income Assets

40% Growth Assets

8% Cash and cash equivalents

24% International equities

21% NZ fixed interest

12% Australasian equities

31% International fixed interest

4% Listed property

If you invest in this fund, you'll be aiming for moderate returns, over the medium term. With this ratio of growth assets, you'll still see some ups and downs in your balance, but they'll likely be smaller than say a default balanced or balanced fund.

If you're comfortable with some ups and downs in your KiwiSaver balance and would like to aim for greater returns, you could look at another Westpac KiwiSaver Scheme Fund, which invests in more growth assets.

What we don't invest in.

Our exclusions are one of the four guiding pillars to our sustainable investment approach. Our policy is to exclude:

Minimum social safeguards Companies and other issuers in breach of human rights, labour protection, and environmental principles in line with the UN Global Compact4.
Controversial & other weapons Companies involved in the manufacturing of controversial weapons, components or services of the core weapons system.
Fossil fuels Companies that have their primary business activity in the oil and gas drilling, oil and gas equipment and services, integrated oil and gas, oil and gas exploration and production5 or where more than 10% of its revenue is derived from oil and gas exploration, production, or refining (including Arctic exploration, oil sands extraction, and shale energy exploration, extraction and/or production).
Coal mining & production Companies that have their primary business activity in the coal and consumable fuels subindustries5 or which derive more than 10% of its revenue from the extraction of thermal coal6.
Coal electricity generation Companies that derive more than 50% of their revenue from generating electricity from thermal coal.
Whale meat Companies that derive any revenue from the processing of whale meat.
Tobacco Companies that derive any revenue from manufacturing tobacco products.
Predatory lending Companies that derive any revenue from predatory lending practices7.

Read more about the investment exclusions above, our other exclusions and our sustainable investment approach as one of New Zealand’s Responsible Investment Leaders, recognised by the Responsible Investment Association Australasia (RIAA)8 in 2022 and again in 2023.


Join or transfer.

Westpac customer with digital banking

Login to Westpac One® digital banking to apply to join the Westpac KiwiSaver Scheme.

Join now

New to Westpac or don't have digital banking

Download and complete the form at the end of the Product Disclosure Statement. Then return it to us by mail or drop it into any Westpac branch.

Download the form

Talk to a KiwiSaver Specialist

Simply call us weekdays between 8.30am and 5pm on NZ: 0508 972 254. If calling from overseas: +64 9 375 9978 (international toll charges apply).


Email us

Send us an email and we’ll typically respond within 48 hours.


Already a Westpac KiwiSaver Scheme member?

It's easy to switch funds and change contribution rate in Westpac One® digital banking. If you don't have Westpac One with us, register now then switch funds online. Or download and complete the switch funds form.

Compare other funds.

Seeing the ups and downs of all our Westpac KiwiSaver Scheme funds can be helpful when trying to decide which one is right for you.9

Past returns are not indicative of future returns.2

Things you should know.

1 Fee The annual fund charge is based on the balance you have invested in a fund.

2 Return After deducting the annual fund charge and tax at the highest PIR (tax rate) to 31 March 2024. Past performance is not a reliable indication of future performance. Future returns for any fund will vary and may be negative at times, which means your balance can be less than what you invested.

Risk Indicates how much the relevant Westpac KiwiSaver Scheme fund might go up and down in value (volatility). With more risk comes the potential for greater returns over time. Find out more about how the risk indictor is calculated in the Product Disclosure Statement for the Westpac KiwiSaver Scheme.

4 When determining not to invest in a company breaching these principles, we assess the data from our ESG research provider(s), the underlying investment manager’s views and the effectiveness of their stewardship strategies with the company. We may choose to take additional time to divest while we review these factors.

5 As determined by the Global Industry Classification Standard (GICS).

6 For the avoidance of doubt, this exclusion does not apply to the extraction of coking coal, which is used in steel production.

7 As defined by our third party ESG research provider(s).

8 The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold a Financial Advice Provider licence.

9 The Moderate and Defensive Conservative Funds both started on 2 July 2014 and the Default Balanced Fund started on 1 December 2021. For these funds, the returns shown prior to then have been created using actual returns (after fees and taxes applicable at that time) for other funds in the Westpac KiwiSaver Scheme, which have then been adjusted to match the benchmark allocation.

The material on this website is provided for general purposes only and is not a recommendation or opinion in relation to the Westpac KiwiSaver Scheme. You should not rely solely on the information on this website.

BT Funds Management (NZ) Limited is the scheme provider and Westpac New Zealand Limited is a distributor, of the Westpac KiwiSaver Scheme (Scheme).

The information above is subject to changes to government policy and law, and changes to the Scheme from time to time.

Investments made in the Scheme do not represent bank deposits or other liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited or other members of the Westpac Group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac Group of companies, The New Zealand Guardian Trust Company Limited (as supervisor), or any director or nominee of any of those entities, or any other person guarantees the Scheme's performance, returns or repayment of capital.

For a copy of the Product Disclosure Statement or more information about the Scheme, contact any Westpac branch or call 0508 972 254 or from overseas +64 9 375 9978 (international toll charges apply). You can also download the Product Disclosure Statement.