About this fund and who it may suit
The Balanced Fund aims for moderate long-term returns, allowing for moderate ups and downs in value.
This fund could suit investors seeking a balance between opportunities for growth and a preference for only moderate changes in value, who may be accessing their KiwiSaver savings sooner.
Minimum suggested investment timeframe is 5 or more years. The minimum suggested timeframe indicates how long to stay invested to manage short-term ups and downs and give your investment time to recover from any drops in value.
How risk affects volatility
The risk indicator for this fund is 4, on a scale from 1 (low) to 7 (high). The rating reflects how much the value of the fund’s assets goes up and down (volatility). A higher risk means higher potential returns over time, but more ups and downs along the way.
Wondering if this fund is right for you? Our fund chooser tool could help.
Fund performance
Performance as at 30 June 2026
Performance is after the annual fund charge and before tax.
3 months | 1 year | 3 years (p.a.) | 5 years (p.a.) | 10 years (p.a.) | Since launch (p.a.) | |
|---|---|---|---|---|---|---|
Balanced Fund | 7.05% | 11.25% | 8.39% | 4.10% | 6.03% | 6.16% |
Fund performance over time
This graph shows the value of a $1,000 investment made when the fund launched.
What the fund invests in
The fund invests in similar amounts of income assets (cash and cash equivalents and fixed interest) and growth assets (Australasian equities and International equities). The fund may also invest in alternative assets.
This graph shows the mix of assets that the fund generally intends to invest in.
See the fund's investments in the full portfolio holdings spreadsheet:
Fund fee
% of your investment balance | |
|---|---|
Balanced Fund annual fund charge | 0.89% |
Unit price
A unit is a small share of the overall fund. The unit price is the price of one unit.
The unit price is calculated by dividing the fund’s net asset value by the number of units in the fund.
Fund quarterly update
Fund insights for last quarter
What happened this quarter (three months to 30 June 2026)
The fund has a meaningful allocation to share markets, which had a strong quarter, rebounding from a challenging start of the year. The rebound was supported by a combination of resilient corporate earnings and a stabilisation in geopolitical tensions in the Middle East – although these remained an ongoing source of uncertainty.
In the US, the S&P 500 Index rose 15.2%, while the Nasdaq 100 Index gained 21.6%, supported by continued strength in technology and AI‑related stocks. European equity markets also moved higher, though performance was more mixed across the region. Meanwhile, Asian markets surged higher. Japan’s Nikkei 225 Index rose 37.4%, supported by strong corporate earnings and continued investor inflows, while South Korea’s KOSPI Index rose 67.7%, driven by strength in semiconductor and tech-related companies.
In New Zealand, the NZX 50 Index rose a more modest 5.5%. Business and consumer confidence remained weak, while ongoing inflation pressures continued to cloud the outlook for economic growth and monetary policy.
The fund also holds a significant allocation to bonds. Bond markets were volatile during the quarter, but they ultimately delivered positive returns, supported by the easing of tensions in the Middle East and the decline in oil prices.
Despite the pullback in oil prices, several central banks took action during the quarter. The European Central Bank (ECB) and the Reserve Bank of Australia (RBA) both raised interest rates by 25 basis points, while the US Federal Reserve (the Fed) left rates unchanged but adopted a more hawkish tone and raised its year-end inflation forecast.
New Zealand bond markets were among the strongest performers over the quarter, recovering from a challenging start to the year. The Reserve Bank of New Zealand (RBNZ) met twice during the period and left the Official Cash Rate (OCR) unchanged on both occasions. However, in early July the central bank lifted the OCR by 25 basis points.
Equity holdings were the primary driver of fund performance, with growth-related stocks performing especially well, while domestic and fixed interest exposures also made positive contributions.
Looking ahead, market volatility is likely to persist as geopolitical and inflation risks evolve. However, the fund remains well diversified and is designed to help manage risk while providing a more stable long-term investment experience.
How global and local markets performed last quarter
Choosing a fund
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Important information
ANZ New Zealand Investments Limited (‘ANZ Investments’) is the issuer and manager of the ANZ KiwiSaver Scheme, the OneAnswer KiwiSaver Scheme and the ANZ Default KiwiSaver Scheme (no longer a default scheme and closed to new members). For the scheme guides and product disclosure statements see KiwiSaver documents and forms or ask at any ANZ branch.
This material is for information purposes only. Please talk to us if you need financial advice about your situation and goals or about our products and services. See our Financial advice provider disclosure statement (PDF 39.9KB).
Past performance does not indicate future performance. The actual performance any given investor realises will depend on many things, is not guaranteed and may be negative as well as positive.