About this fund and who it may suit
The Conservative Balanced Fund aims for low to moderate long-term returns, allowing for small to moderate ups and downs in value.
This fund could suit investors who want some opportunity for growth while preferring small changes in value, and who may need access to their savings within several years.
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.) | |
|---|---|---|---|---|---|---|
Conservative Balanced Fund | 5.07% | 7.91% | 6.87% | 3.09% | 4.71% | 5.41% |
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 mainly in income assets (cash and cash equivalents and fixed interest), with some exposure to 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 | |
|---|---|
Conservative Balanced Fund annual fund charge | 0.75% |
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 holds a large allocation to bonds, which make up about half of its investments. While bond markets were volatile during the quarter, they ultimately delivered positive returns. Early in the period, rising oil prices linked to tensions between the US and Iran fuelled inflation concerns, which weighed on bond prices. However, after a ceasefire was reached, these concerns eased and bond markets rebounded, helping to support the fund's performance.
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.
The fund's exposure to shares is relatively small. Even so, global share markets rebounded strongly, recovering from a challenging start to the year. Many markets reached record highs and posted double-digit gains. In the US, the S&P 500 and Nasdaq 100 rose 15.2% and 21.6% respectively, while Japan's Nikkei 225 was a standout performer, rising nearly 40%.
Strong performance from both bond and equity holdings drove returns, with all asset classes making positive contributions to the fund’s overall result.
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.