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BNZ KiwiSaver Performance - February 2022

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Using the most recent returns and fund update reports from February 2022, we will examine BNZ’s recent KiwiSaver Performance.

The Bank of New Zealand (BNZ) has been helping Kiwis establish healthy money management practices since 1861. Low costs, a wide range of fund selections, and ethical investing alternatives are all part of the BNZ KiwiSaver program's commitment to its current 186,668 clients. There are six funds managed by the BNZ KiwiSaver Scheme, with a combined asset under management of NZ$3.6 billion.

In February 2022, inflation expectations rose to 5.3%, the highest level since April 1991. During this time, Omicron's conflict with New Zealand has only escalated. The market's attention has been captured by Russia's invasion of Ukraine, and the severity of the sanctions imposed by the West, particularly via the SWIFT (payments) network, will have a significant influence on the country's economy and global markets.

Table of Contents

News about BNZ
Performance of BNZ KiwiSaver Funds
BNZ Cash Fund
BNZ First Home Buyer Fund
BNZ Conservative Fund
BNZ Moderate Fund
BNZ Balanced Fund
BNZ Growth Fund

 

News about BNZ

Since the beginning of the Russian invasion of Ukraine, Russia has become a worldwide financial pariah. Bank of New Zealand (BNZ) has asked the fund manager of its KiwiSaver programme to dispose of its Russian interests, through International Equity and Government Bonds, following the lead of other large New Zealand banks.

 

Performance of BNZ KiwiSaver Funds

 

 

1 month

3 months

1 year

3 years

5 years

Since Inception

Cash 

0.06%

0.18%

0.41%

1.01%

1.55%

2.16%

First Home Buyer

-0.73%

-1.43%

0.20%

2.34%

2.93%

3.20%

Conservative

-1.36%

-2.77%

-0.72%

2.70%

3.42%

4.21%

Moderate

-1.82%

-3.49%

1.19%

5.15%

5.44%

5.89%

Growth   

-2.20%

-4.14%

3.03%

7.03%

7.03%

7.29%

 Sourced from BNZ fund performance report
* These returns are to 28 February 2022 and are before tax and after fund management fees. Past performance is not necessarily an indicator of future performance, and return periods may differ.
Note: The following information is sourced from
BNZ Quarterly Fund updates published on 31 December 2021

 

BNZ Cash Fund

The Cash Fund primarily invests in cash and cash equivalents. The Cash Fund seeks to achieve consistent returns over the short term. The Cash Fund has had a 1-month return of 0.06%, and a 1-year return of 1.01%, both of which are lower since the inception return of 2.16%.

*The following is Sourced from BNZ Cash Fund Update

Returns

Picture 1

Fees

The total annual fees for investors in the BNZ Cash Fund are 0.30% per year.

Picture 1-1

*No GST is currently payable on BNZ KiwiSaver Scheme charges above.

Investment mix

The investment mix is 100% cash and cash equivalents due to being a cash fund.

Top ten investments

This table shows BNZ’s top 10 investments in the Cash KiwiSaver Fund, which make up 28.93% of the fund.

Picture 1-2

 

BNZ First Home Buyer Fund

The First Home Buyer Fund seeks to offer steady returns over the short to medium term by primarily investing in income assets, which generally have a lower level of risk. The BNZ First Home Buyer fund saw a 1-month return of -0.73% and a 1-year return of -1.43%, both being lower than the expected return of 3.20% since inception.

*The following is Sourced from BNZ First Home Buyer Fund Update

Returns

Picture 1-3

Fees

The total annual fees for investors in the BNZ Cash Fund are 0.50% per year until the 28th of September 2021, during which it changed to 0.45% per year.

Picture 1-4

*No GST is currently payable on BNZ KiwiSaver Scheme charges above.

Investment mix

The investment mix shows the type of assets that the fund invests into.

Picture 1-Apr-01-2022-01-59-56-17-AM

Top ten investments

This table shows BNZ’s top 10 investments in the First Home Buyer Fund, which make up 18.11% of the fund.

Picture 1-Apr-01-2022-02-00-58-79-AM

 

BNZ Conservative Fund

BNZ’s Conservative Fund seeks to provide investors with a consistent return over the long term, therefore it invests mostly in income assets, which generally have a lower level of risk associated. The BNZ Conservative Fund saw a 1-month return of -1.36%. The 1-year return of BNZ’s Conservative Fund is -0.72%. The fund's return since inception is 4.21%.

*The following is Sourced from BNZ Conservative Fund Update

Returns

Picture 1-Apr-01-2022-02-03-23-25-AM

Fees

The total annual fees for investors in the BNZ Conservative Fund are 0.50% per year until the 28th of September 2021, during which it changed to 0.45% per year.

Picture 1-Apr-01-2022-02-04-15-82-AM

*No GST is currently payable on BNZ KiwiSaver Scheme charges above.

Investment mix

The investment mix shows the type of assets that the fund invests into.

Picture 1-Apr-01-2022-02-05-37-71-AM

Top ten investments

This table shows BNZ’s top 10 investments in the Conservative KiwiSaver Fund, which make up 8.47% of the fund.

Picture 1-Apr-01-2022-02-15-41-10-AM

 

BNZ Moderate Fund

The BNZ Moderate Fund seeks to create moderate returns over the medium term by investing largely in income assets and a small proportion of its assets in growth. The Moderate Fund saw a low 1-month return of -1.82%. Besides, the fund is achieving its yearly goal by having a 1-year return of 1.19% which is still not close to the 5.44% return since the inception of the fund.

*The following is Sourced from BNZ Moderate Fund Update

Returns

Picture 1-Apr-01-2022-02-17-47-70-AM

Fees

The total annual fees for investors in the BNZ Moderate Fund are 0.58% per year until the 28th of September 2021, during which it changed to 0.45% per year.

Picture 1-Apr-01-2022-02-18-46-26-AM

*No GST is currently payable on BNZ KiwiSaver Scheme charges above.

Investment mix

The investment mix shows the type of assets that the fund invests into.

Picture 1-Apr-01-2022-02-19-56-88-AM

Top ten investments

This table shows BNZ’s top 10 investments in the Moderate KiwiSaver Fund, which make up 9.22% of the fund.

Picture 1-Apr-01-2022-02-20-47-99-AM

 

BNZ Balanced Fund

The BNZ Balanced Fund seeks a medium level of return over the medium to long term by investing primarily in growth assets and a substantial proportion of income assets, which generally have a lower level of risk associated. The Balanced fund has had a 1-month return of -2.20% and a 1-year return of 3.03%, which is smaller than the 7.29% return since the inception of the fund.

*The following is Sourced from BNZ Balanced Fund Update

Returns

Picture 1-Apr-01-2022-02-23-11-27-AM

Fees

The total annual fees for investors in the BNZ Balanced Fund are 58% per year until the 28th of September 2021, during which it changed to 0.45% per year.

Picture 1-Apr-01-2022-02-27-02-85-AM

*No GST is currently payable on BNZ KiwiSaver Scheme charges above.

Investment mix

The investment mix shows the type of assets that the fund invests into.

Picture 1-Apr-01-2022-02-28-28-42-AM

Top ten investments

This table shows BNZ’s top 10 investments in the Balanced KiwiSaver Fund, which make up 13.25% of the fund.

Picture 1-Apr-01-2022-02-29-37-72-AM

 

BNZ Growth Fund

The BNZ Growth Fund seeks to produce greater returns over the long term by investing primarily in growth assets, with moderate exposure to income assets. The fund saw a 1-month return of -2.47%. However, the 1-year return is 5.12%, which is significantly higher than the inception return of 8.94%. Thus, there is not much concern for KiwiSaver investors focusing on the long-term returns.

*The following is Sourced from BNZ Growth Fund Update

Returns

Picture 1-Apr-01-2022-02-32-36-39-AM

Fees

The total annual fees for investors in the BNZ Growth Fund are 0.58% per year until the 28th of September 2021, during which it changed to 0.45% per year.

Picture 1-Apr-01-2022-02-33-35-90-AM

Investment mix

The investment mix shows the type of assets that the fund invests into.

Picture 1-Apr-01-2022-02-34-21-97-AM

Top ten investments

This table shows BNZ’s top 10 investments in the Growth KiwiSaver Fund, which make up 17.61% of the fund.

Picture 1-Apr-01-2022-02-35-25-08-AM

 

Data for BNZ KiwiSaver funds have been sourced from BNZ KiwiSaver Funds. Past performance is not necessarily an indicator of future performance, and return periods may differ.

To see if BNZ has the appropriate fund that aligns with your values, retirement goals and situation, complete National Capital’s KiwiSaver Healthcheck.

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