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BNZ KiwiSaver Performance - December 2021

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Using the most recent returns and fund update reports from December 2021, we will examine BNZ’s recent KiwiSaver Performance.

Since 1861, BNZ, or the Bank of New Zealand, has aided Kiwis in developing good financial habits. The BNZ KiwiSaver scheme is committed to offering low fees, a diverse choice of fund options, and ethical investment options to its current 186,668 KiwiSaver members. The BNZ KiwiSaver Scheme manages six funds with a total KiwiSaver Assets Under Management (AUM) of over $NZ 3.6 billion.

During December, the overall BNZ KiwiSaver Scheme balance has decreased due to the recent market volatility, which might raise clients' concerns. Nonetheless, investing involves risk and fluctuation, both of which can be difficult to gauge. As history has shown, markets tend to rebound after a downturn. Thus, the BNZ KiwiSaver Scheme funds have a carefully planned mix of investments that can benefit clients from the upturn in the future.

Table of Contents

Recent BNZ KiwiSaver News
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 

 
Recent BNZ KiwiSaver News

On December 1, BNZ default KiwiSaver funds reduced provider selection, and default funds changed from conservative to balanced. Balanced funds invest in a broader range of growth assets indicating that more significant investment returns are more likely in the long run. Furthermore, several changes have been implemented in the orientation of investment. There will be no investments in fossil fuel production due to climate change risk and no investments in weapons. Companies that earn more than 10% of their revenue from the production and distribution of adult entertainment, or gambling operations and services, will not be invested by BNZ KiwiSaver Scheme Funds.

 
Performance of BNZ KiwiSaver Funds

 

3 months

1 year

3 years

5 years

10 years

Since Inception

Cash Fund  

0.15%

0.31%

1.10%

1.61%

1.93%

2.18%

First Home Buyer Fund

0.59%

1.30%

3.49%

3.52%

  n/a

3.59%

Conservative Fund

0.60%

0.97%

4.56%

4.38%

4.46%

4.68%

Moderate Fund

1.52%

4.34%

7.98%

6.81%

6.42%

6.57%

Balanced Fund 

2.36%

7.50%

10.77%

8.77%

8.01%

8.16%

Growth Fund

3.19%

10.98%

13.96%

11.07%

9.85%

9.97%

 *Sourced from BNZ fund performance report 
*These returns are to 31 December 2021 and are calculated after deducting Management Fees and before deducting tax.

 
BNZ Cash Fund

The Cash Fund invests mainly in cash and cash equivalents. The Cash Fund aims to achieve a yearly return in line with the relevant market index over the long term. The Cash Fund has had a 1-month return of 0.05%, a 1-year return of 0.31%, lower than it's since inception return of 2.18%.

Returns

*Sourced from BNZ Cash fund updates

Fees

The total annual fees for investors in the BNZ cash fund are 0.30% per year.

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

*Sourced from BNZ Cash fund updates

Investment mix

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

*Sourced from BNZ Cash fund updates

Top ten investments

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

*Note: Investor flows not yet unitised, unsettled trades, currency hedging gains (or losses), and any operating accruals are excluded from the Top 10 investments.

*Sourced from BNZ Cash fund updates

 
BNZ First Home Buyer Fund

The First Home Buyer Fund aims to provide stable returns over the short to medium term by primarily investing in income assets. The BNZ First Home Buyer fund saw a 1-month return of 0.59% and the 1-year return of 1.30%, both being lower than the expected return of 3.59% since inception. 

Returns

*Sourced from BNZ First Home Buyer fund updates

Fees

The total annual fees for investors in the BNZ First Home Buyer fund were 0.50% per year until the 28th of September 2021, during which it changed to 0.45% per year.

*Sourced from BNZ First Home Buyer fund updates

Investment mix

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

*Sourced from BNZ First Home Buyer fund updates

Top ten investments

This table shows BNZ’s top 10 investments in the Balanced Growth KiwiSaver fund, which make up 18.11% of the fund.

*Note: Investor flows not yet unitised, unsettled trades, currency hedging gains (or losses), and any operating accruals are excluded from the Top 10 investments.

*Sourced from BNZ First Home Buyer fund updates

 
BNZ Conservative Fund

BNZ’s Conservative Fund aims to provide investors with a stable return over the long term and therefore has most of its investments in income assets. The BNZ Conservative Fund saw a 1-month return of 0.60%. The 1-year return of BNZ’s Conservative Fund is 0.97%. The fund's return since inception is 4.68%.

Returns

*Source BNZ Conservative Fund Update

Fees

The total annual fees for investors in the BNZ Conservative fund were 0.50% per year until it changed to 0.45% on the 28th of September 2021.

*Source BNZ Conservative Fund Update

Investment mix

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

*Source BNZ Conservative Fund Update

Top ten investments

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

*Note: Investor flows not yet unitised, unsettled trades, currency hedging gains (or losses) and any operating accruals are excluded from the Top 10 investments.

*Source BNZ Conservative Fund Update

 
BNZ Moderate Fund

The BNZ Moderate Fund aims to generate moderate returns over the medium term by investing primarily in income assets and a limited amount of growth assets. The Moderate Fund saw a low 1-month return of 1.16%. Besides, the fund is achieving its yearly goal by having a 1-year return of 4.34% which is still not close to the 6.57% return since the inception of the fund. 

Returns

*Source BNZ Moderate Fund Update

Fees

The total annual fees for investors in the BNZ Moderate fund were 0.58% per year until the 28th of September 2021, where fees changed to 0.45% per year.

*Source BNZ Moderate Fund Update

Investment mix

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

*Source BNZ Moderate Fund Update

Top ten investments

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

*Note: Investor flows not yet unitised, unsettled trades, currency hedging gains (or losses) and any operating accruals are excluded from the Top 10 investments.

*Source BNZ Moderate Fund Update

 
BNZ Balanced Fund

The BNZ Balanced Fund aims to achieve a medium level of return over the medium to long term by investing primarily in growth assets and a sizable allocation of income assets. The Balanced fund has had a 1-month return of 1.77% and a 1-year return of 7.50%, which is smaller than the 8.16% return since the inception of the fund.

Returns

*Source BNZ Balanced Fund Update

Fees

The total annual fees for investors in the BNZ Balanced fund were 0.58% per year until the 28th of September 2021 when the fees changed to 0.45%.

*Source BNZ Balanced Fund Update

Investment mix

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

*Source BNZ Balanced Fund Update

Top ten investments

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

*Note: Investor flows not yet unitised, unsettled trades, currency hedging gains (or losses) and any operating accruals are excluded from the Top 10 investments.

*Source BNZ Balanced Fund Update

 
BNZ Growth Fund

The BNZ Growth Fund aims to achieve higher returns over the long term by investing mainly into growth assets, with a moderate allocation into income assets. The fund saw a 1-month return of 2.36%. However, the 1-year return is 10.98%, which is significantly higher than the inception return of 9.97%. Thus, there is not much concern for KiwiSaver investors focusing on the long-term returns.

Returns

*The following is Sourced from BNZ Growth Fund Update

Fees

The total annual fees for investors in the BNZ Growth fund were 0.58% per year, and then 0.45% from the 28th of September 2021.

*The following is Sourced from BNZ Growth Fund Update

Investment mix

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

*The following is Sourced from BNZ Growth Fund Update

Top ten investments

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

*Note: Investor flows not yet unitised, unsettled trades, currency hedging gains (or losses), and any operating accruals are excluded from the Top 10 investments.

*The following is Sourced from BNZ Growth Fund Update

 

Data for BNZ KiwiSaver funds has 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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