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Westpac KiwiSaver Performance - September 2021

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We will be going over Westpac’s most recent news and information and how that relates to you and Westpac’s KiwiSaver performance ending July. 

Coming out of the quarter ending July, the returns from the funds have continued to see good performance even with the introduction of the Delta variant within New Zealand.

Want more information about Westpac? Check out Westpac KiwiSaver Scheme to get a better idea on how they function. 

Important News from Westpac

The most recent GDP release has shown some great performances, where activity rose by 2.8% over the June quarter. As this was well above what Westpac forecast, this shows promising performance going forward. 

With the strong growth in GDP so far, it is already over 4% of what it was at the end of 2019. Even with the introduction of the Delta variant, Westpac believes that once New Zealand heads back into lower lock-down levels, we may continue to see strong economic growth. This growth in GDP shows that even with the impact of Covid-19 and borders closed back in 2020, the economy is performing well.

Performance of Westpac KiwiSaver Schemes as of July 31st.

Moving onto the performance for Westpac’s KiwiSaver funds, we see strong performances in funds invested in growth assets. While funds including Conservative, Default, and Cash didn’t receive as much or any of the benefits that came with the higher returns in growth assets.

 

 

1 Year

5 Years (p.a)

Since Launch (p.a.)

KiwiSaver Growth Fund

16.23%

9.45%

7.10%

KiwiSaver Balanced Fund

12.09%

7.99%

6.48%

KiwiSaver Moderate Fund

7.76%

6.04%

6.46%

KiwiSaver Conservative Fund

4.57%

4.68%

5.11%

KiwiSaver Default Fund

4.05%

4.46%

5.09%

KiwiSaver Cash Fund

0.53%

1.70%

2.76%

 

You can see how they compare with other providers or view a list of the best KiwiSaver funds here.

Growth Fund

Westpac’s KiwiSaver Growth Fund saw returns in July of 0.32% (after fees), while the 1-year return was 16.23%. This has been supported by strong external pressures such as the global vaccine rollout and the reopening of companies. Moving into the next quarter, it is expected to continue to show great performance overall. With the fund being mostly invested in growth assets, it will be reacting strongly to these changes in the market. The estimated annual fund charge for this fund is 0.80%.

Actual Investment Mix:

Investments Include:

 

% of fund net assets

Type

Country

K2 Alternative Strategies NZ Portfolio

4.31%

Other

Cayman Islands

Fisher & Paykel Healthcare Ltd

3.28%

Australasian equities

New Zealand

Spark New Zealand Ltd

2.17%

Australasian equities

New Zealand

Mainfreight Ltd

2.07%

Australasian equities

New Zealand

Auckland International Airport Ltd

1.36%

Australasian equities

New Zealand

Balanced Fund

Westpac’s KiwiSaver Balanced fund saw a similar July return as the Growth Fund of 0.32% (after fees). This is great news for investors that have some distribution within it. For the past year, Balanced also saw a return of 12.09%. As previously mentioned for the Growth Fund, Westpac expects good returns going into the next quarter. The estimated annual fee for the Balanced Fund is 0.73%.

 

Actual Investment Mix:

Investments Include:

 

% of fund net assets

Type

Country

K2 Alternative Strategies NZ Portfolio

3.69%

Other

Cayman Islands

Fisher & Paykel Healthcare Ltd

2.44%

Australasian equities

New Zealand

US 5YR Note (CBT)

2.31%

International fixed interest

United States

Spark New Zealand Ltd

1.61%

Australasian equities

New Zealand

Mainfreight Ltd

1.54%

Australasian equities

New Zealand

Moderate Fund

Westpac’s KiwiSaver Moderate Fund saw returns of 0.39% (after fees) in July and a 1-year return of 7.76%. It's showing some promising performance for the month over more volatile funds but may change as businesses open up after lock down. The estimated annual fee for the Moderate fund is 0.66%.

 

Actual Investment Mix:

 

Investments Include:

 

% of fund net assets

Type

Country

US 5YR Note (CBT)

3.11%

International fixed interest

United States

K2 Alternative Strategies NZ Portfolio

2.75%

Other

Cayman Islands

Fisher & Paykel Healthcare Ltd

1.60%

Australasian equities

New Zealand

Spark New Zealand Ltd

1.06%

Australasian equities

New Zealand

Mainfreight Ltd

1.01%

Australasian equities

New Zealand

Conservative Fund

Westpac’s KiwiSaver Conservative Fund saw returns of 0.40% (after fees) in the month of July and a 1-year return of 4.57%. The Conservative Fund’s 1-month return has shown the largest return over other funds. This may have come from its stable investments in Income assets and 25% in Growth assets. The annual estimated fee for the Conservative fund is 0.59%.

Actual Investment Mix:

Investments Include:

 

% of fund net assets

Type

Country

US 5YR Note (CBT)

3.48%

International fixed interest

United States

K2 Alternative Strategies NZ Portfolio

1.85%

Other

Cayman Islands

Fisher & Paykel Healthcare Ltd

1.13%

Australasian equities

New Zealand

Euro Schatz Future

0.80%

International fixed interest

Germany

Spark New Zealand Ltd

0.75%

Australasian equities

New Zealand

Default Fund

Westpac’s KiwiSaver Conservative Fund saw returns of 0.34% (after fees) in the month of July and a 1-year return of 4.05%. The aim of this fund is to provide stable returns over the short to medium term. This fund primarily invests in income assets. It is still more volatile than the Cash Fund and less than Conservative Fund. The annual estimated fees are 0.40%.

Actual Investment Mix:

Investments Include:

 

 

% of fund net assets

Type

Country

US 5YR Note (CBT)

3.17%

International fixed interest

United States

Fisher & Paykel Healthcare Ltd

0.82%

Australasian equities

New Zealand

Westpac 32 day Notice Deposit

0.79%

Cash and cash equivalents

New Zealand

Euro Schatz Future

0.73%

International fixed interest

Germany

NZ Government Bond 4.50% 15/04/2027

0.66%

New Zealand fixed interest

New Zealand

Cash Fund

Westpac’s KiwiSaver Conservative Fund saw returns of 0.03% (after fees) in the month of July and a 1-year return of 0.53%. This is the lowest volatility available from Westpac for KiwiSaver. This is why we see such low returns over both the month and year and 100% of its assets going into Income. The estimated annual fee for this Fund is 0.29%.

Actual Investment Mix:

Investments Include:

 

% of fund net assets

Type

Country

Westpac 32 day Notice Deposit

4.15%

Cash and cash equivalents

New Zealand

BNZ 180 Day Rolling Deposit Account

1.91%

Cash and cash equivalents

New Zealand

BNZ 90 Day Rolling Deposit Account

1.76%

Cash and cash equivalents

New Zealand

NZ Treasury Bill 14/07/2021

0.94%

Cash and cash equivalents

New Zealand

Latitude New Zealand Credit Card Master Trust Series 2018-1 A 22/11/2021

0.76%

Cash and cash equivalents

New Zealand

Westpac KiwiSaver Funds has been sourced from Westpac KiwiSaver Scheme Report

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