Using the most recent returns and fund update reports from March 2023, we will examine ASB’s recent KiwiSaver Performance.
Auckland Saving Bank (ASB) was established in 1847 and is owned by the Common Wealth Bank of Australia. ASB KiwiSaver scheme annual report shows that the scheme had over 490,000 members and managed over $14b in assets under management. With this pledge, ASB stated that its ongoing goal is to give back to the community, grow, and support the endeavours of New Zealanders.
Performance of ASB KiwiSaver Funds
In March 2023, ASB became a signatory of the UN Principles for Responsible Banking, a leading sustainable banking framework developed in partnership with the United Nations Environment Programme Finance Initiative (UNEP FI). ASB is a signatory committed to demonstrating leadership in promoting banking products, services, and relationships that contribute to shared prosperity for present and future generations. ASB recognizes its crucial role in supporting positive environmental and social outcomes. To that end, they have reduced their operational emissions by over 25% in the past two years. Additionally, ASB aims to facilitate the transition to a low-emissions future by offering discounted lending options to help customers minimize their environmental impact.
|
3 month |
1 year |
5 years |
10 years |
Since Inception |
|
|
Cash |
1.16% |
3.17% |
1.50% |
2.15% |
2.78% |
|
Conservative |
3.21% |
-1.37% |
2.06% |
3.75% |
4.23% |
|
Moderate |
3.93% |
-1.77% |
2.94% |
4.97% |
4.73% |
|
Balanced |
4.92% |
-1.86% |
4.66% |
6.81% |
5.44% |
|
Growth |
5.67% |
-2.08% |
5.89% |
8.30% |
5.86% |
|
Positive Impact |
2.96% |
-11.10% |
N/A |
N/A |
0.89% |
Sourced from ASB fund performance report
* These returns are to 31 March 2023 and are before tax and after fund management fees. Past performance does not necessarily indicate future performance and return periods may differ.
Note: The following information is sourced from ASB Quarterly Fund updates published on 3 May 2023.
The ASB Cash Fund aims to provide exposure to a portfolio of investment-grade short-term deposits and fixed-interest investments with New Zealand registered banks by investing in a target investment mix of 100% income assets. The Cash Fund has a 3-month return of 1.16% and a 1-year return of 3.17%, higher than the since-inception return of 2.78%.
*The following is Sourced from ASB Cash Fund Update
Returns
Fees
The total annual fees for investors in the ASB Cash Fund are 0.35% per year.
Investment mix
The investment mix is 100% cash and cash equivalents due to being a cash fund.
Top ten investments
This table shows ASB’s top 10 investments in the Cash KiwiSaver Fund, which comprise 99.27% of the fund.
ASB Conservative Fund aims to provide modest returns allowing for modest volatility by investing in income and growth assets with a target investment mix of 80% income and 20% growth assets. The Conservative Fund has a 3-month return of 3.21% and a 1-year return of -1.37% compared to the since-inception return of 4.23%.
*The following is Sourced from ASB Conservative Fund Update
Returns
Fees
The total annual fees for the ASB Conservative fund investors are 0.40% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows ASB’s top 10 investments in the Conservative KiwiSaver Fund, which comprise 19.48% of the fund.
The ASB Moderate Fund aims to provide moderate returns, allowing for moderate movements of value up and down by investing in a target investment mix of 60% income and 40% growth assets. The Moderate Fund has a 3-month return of 3.93% and a 1-year return of -1.77%, lower than the since-inception return of 4.73%.
*The following is Sourced from ASB Moderate Fund Update
Returns
Fees
The total annual fees for investors in the ASB Moderate fund are 0.60% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows ASB’s top 10 investments in the Moderate KiwiSaver Fund, which comprise 15.72% of the fund.
The ASB Balanced Fund aims to provide moderate to high total returns allowing for moderate to high movements of value up and down by investing in a target investment mix of 40% income and 60% growth assets. The Balanced Fund has a 3-month return of 4.92% and a 1-year return of -1.86% lower than the since inception return of 5.44%.
*The following is Sourced from ASB Balanced Fund Update
Returns
Fees
The total annual fees for the ASB Balanced Fund investors are 0.65% yearly.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows ASB’s top 10 investments in the Balanced KiwiSaver Fund, which make up 14.18% of the fund.
The ASB Growth Fund aims to provide high returns, allowing for large movements of value up and down by investing in a target investment mix of 20% income and 80% growth assets. The Growth Fund has a 3-month return of 5.67% and a 1-year return of -2.08%, lower than the since-inception return of 5.80%.
*The following is Sourced from ASB Growth Fund Update
Returns
Fees
The total annual fees for investors in the ASB Growth Fund are 0.70% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows ASB’s top 10 investments in the Growth KiwiSaver Fund, which comprise 16.21% of the fund.
The ASB Positive Impact Fund invests similarly to the Balanced Fund, with a target investment mix of 40% income and 60% growth assets. The Fund aims to invest in companies looking to positively impact society or the environment for a similar cost to the average balanced fund. The Fund has a 3-month return of 2.96% and a 1-year return of -11.10%, which is lower than the since inception return of 0.89%.
*The following is Sourced from ASB Positive Impact Fund Update
Returns
Fees
The total annual fees for investors in the ASB Positive Impact Fund are 1% annually.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows ASB’s top 10 investments in the Positive Impact KiwiSaver Fund, which comprise 99.9726% of the fund.
Data for ASB KiwiSaver funds have been sourced from ASB KiwiSaver Funds. Past performance does not necessarily indicate future performance and return periods may differ.
To see if ASB has the appropriate fund that aligns with your values, retirement goals and situation, complete National Capital’s KiwiSaver HealthCheck.