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OneAnswer KiwiSaver Scheme Australasian Share Fund

Fund report as at 30 June 2020

How has the fund performed?

Performance as at 30 June 2020


Funds
3 months 1 year 3 years (pa) 5 years (pa) Since launch
17.84% 12.99% 15.21% 14.38% 8.94%

 

Performance is after the annual fund charge, and before tax and membership fees (if applicable). For more information, see legal information and disclaimers.

What happened this quarter (3 months to 30 June 2020)

  • It was a prosperous quarter for equity investors in New Zealand and Australia, with both benchmark indices recording impressive gains. The NZX 50 ended the quarter up 16.9% and the ASX 200 gained 16.2%.
  • Despite the impressive gains, economic data showed both countries recorded negative GDP in the first quarter of the year, meaning both countries are likely in a recession. In other economic data, Australia posted record job losses over the quarter and in New Zealand, retail sales data fell, coming in well below expectations.
  • The fund continued to benefit from its overweight position in the digital payment company Pushpay Holdings. Shares in the company surged by more than 150% over the quarter after it reported better-than-expected FY20 earnings, which included a 32% increase in total revenue and a 39% increase in volume. Not surprisingly, the company was the best-performing stock in the NZX 50 over the quarter.
  • Another strong contributor to fund performance was its underweight position in Goodman Property Trust. Shares in the company fell nearly 5% over the quarter, one of just a handful of companies in the NZX 50 to end the quarter lower. The weakness came after the company reported an 18% decrease in net profit for the year ended 31 March, adding it would be revising down its pay-out ratio.
  • Elsewhere, the fund’s underweight position in Precinct Properties New Zealand added value, with shares in the company ending the quarter down nearly 7%, making it the second-worst performing stock in the NZX 50.

Need more information?

Read our Market Review for more information on investment markets.

What does the fund invest in?

The fund invests mainly in New Zealand and Australian equities. Investments may include:

  • equities in companies that are listed or intend to list on the New Zealand or Australian stock exchanges, and
  • cash and cash equivalents.

This chart shows the mix of assets that the fund generally intends to invest in.


See the fund's actual investment mix on page 3 of the Fund update.

See the fund's full portfolio holdings.

ANZ New Zealand Investments Limited ('ANZ Investments') is the issuer and manager of the OneAnswer KiwiSaver Scheme. Important information is available under terms & conditions. Download the guide and product disclosure statement.