Compare our funds

Compare our seven funds and their key features at a glance.

Understanding our funds

Learn the difference between our funds. Watch our video to find out what a fund is and how they work.

[Text on screen: Ask an ANZ expert, understanding our funds. Sam, KiwiSaver Expert – ANZ]

Sam: I get asked about the difference between our KiwiSaver Scheme funds a lot. 

The easiest way to get your head around it is to start with the basics. Like what exactly is a fund? 

[Text on screen: What’s a fund?]

Sam: A fund is a way of pooling your money with other investors, which means you benefit from working as part of a group.

Funds invest that pooled money in a mix of assets. These can be split up into two categories, Growth assets and Income assets.

[Text on screen: Growth, income]

Sam: Growth assets? Think shares or listed property. They’re higher risk but have the potential for higher returns. Income assets are things like cash and bonds. They’re lower risk, so you do need to be willing to accept lower returns. 

[Text on screen: Growth = higher potential returns; Income = lower potential returns]

Sam: By the way, returns means the money you make on top of the money you invest. 

The ANZ KiwiSaver Scheme has seven funds to choose from. I’m not going to deep dive into them here. We’d need way more time. 

[Video: Seven tea canisters each with a label: Cash, Conservative, Conservative Balanced, Balanced, Balanced Growth, Growth and High Growth]

Sam: Basically, a High Growth Fund has a higher proportion of growth assets and a small amount of income assets. On the other hand, our Conservative Fund has a higher proportion of income assets, with a small amount of growth assets.

The fund you choose comes down to where you’re at in life.

[Text on screen: Age and stage]

Sam: For example, if you’ve got ages ‘til retirement, you’re better placed to ride out the ups and downs of higher growth funds and reap potentially bigger returns. But you could rethink this if you’re planning on using your KiwiSaver savings for your first home in the next few years. In that case you might go for a more conservative fund to give you more certainty about your deposit amount. 

It's pretty standard – and wise – to review the fund you’re in every now and then. The key is understanding your options, so that if you do switch to a different fund, you do it with confidence. A little time schooling up now could literally pay off in the long run. Of course, we’re here to help too. 

[Text on screen: ANZ logo. ANZ New Zealand Investments Limited is the issuer and manager of the ANZ KiwiSaver Scheme. PDS available at anz.co.nz. We recommend seeking financial advice about your situation and goals before getting a financial product]

How does your fund choice affect your returns?

Each of the ANZ-managed KiwiSaver schemes have seven different funds, so you can choose how your savings are invested.

It’s important to note the fund you’re invested in can make a big difference to the amount you have when you retire (or when you withdraw your savings to buy your first home).

How are our funds different?

Each of our funds has a different mix of investment assets (e.g. shares, property, fixed interest and cash). Each type of asset has different levels of risk and return.

Growth assets are likely to experience larger movements in value compared to income assets. However, they’re also expected to achieve higher returns over the long term.

Choosing a fund

You can choose a fund by selecting from one of two options:

Our funds

Here is an overview of our seven funds. Select the scheme to view your options.

The timeframe is based on the time you plan to withdraw some or all of your savings (e.g. for your first home or retirement).


High Growth Fund

Minimum suggested investment timeframe

9 years

Investment mix:

  • 95% growth assets
  • 5% income assets

Annual fund charge:

  • 1.03%

Lifetimes option:

  • Not currently part of the Lifetimes option

Growth Fund

Minimum suggested investment timeframe

7 years

Investment mix:

  • 80% growth assets
  • 20% income assets

Annual fund charge:

  • 1.03%  

Lifetimes option age range:

  • 0-35

Balanced Growth Fund

Minimum suggested investment timeframe

6 years

Investment mix:

  • 65% growth assets
  • 35% income assets

Annual fund charge:

  • 0.98% 

Lifetimes option age range:

  • 36-45

Balanced Fund

Minimum suggested investment timeframe

5 years

Investment mix:

  • 50% growth assets
  • 50% income assets

Annual fund charge:

  • 0.93%  

Lifetimes option age range:

  • 46-55

Conservative Fund

Minimum suggested investment timeframe

4 years

Investment mix:

  • 20% growth assets
  • 80% income assets

Annual fund charge:

  • 0.64%  

Lifetimes option age range:

  • 61-64

Cash Fund

Minimum suggested investment timeframe

No minimum

Investment mix:

  • 100% income assets  

Annual fund charge:

  • 0.26%

Lifetimes option age range:

65+

Need help choosing a fund?

Spending a few minutes now to choose the right fund for your life stage can make a huge difference to the amount you have to withdraw. Find the fund that may best suit you – whether you’re saving for a first home or retirement.


From overseas: +64 9 356 4000

Changing funds

There are three ways to change the fund your savings are invested in:


Guide to your KiwiSaver account in ANZ Internet Banking

Find step-by-step instructions on how to change funds in Internet Banking.


Important information

ANZ New Zealand Investments Limited (‘ANZ Investments’) is the issuer and manager of the ANZ KiwiSaver Scheme. Important information, including the guide and product disclosure statement is available on KiwiSaver rates, fees and agreements

ANZ Investments is also the issuer and manager of the ANZ Default KiwiSaver Scheme. The scheme is no longer a default scheme and is closed to new members. Important information about the ANZ Default KiwiSaver Scheme is available on KiwiSaver rates, fees and agreements and by searching ‘ANZ Default KiwiSaver Scheme’ on the Companies Office’s Disclose Register

ANZ Investments is also the issuer and manager of the OneAnswer KiwiSaver Scheme.

ANZ Investments is not an authorised deposit-taking institution under Australian law and investments in the schemes are not deposits in or liabilities of ANZ Bank New Zealand Limited, Australia and New Zealand Banking Group Limited or their subsidiaries (together ‘ANZ Group’). ANZ Group does not stand behind or guarantee ANZ Investments. Investments in the schemes are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group will not be liable to you for the capital value or performance of your investment.

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 736 034. For more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see anz.co.nz/fapdisclosure

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