About this fund and who it may suit
The Cash Fund aims for lower, relatively stable long-term returns, allowing for smaller ups and downs in value.
This fund could suit investors who expect to access their KiwiSaver savings soon and want minimal changes in investment value.
There is no minimum suggested investment timeframe for this fund, due to the smaller expected short-term ups and downs.
How risk affects volatility
The risk indicator for this fund is 2, 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.) | |
|---|---|---|---|---|---|---|
Cash Fund | 0.74% | 3.09% | 4.61% | 3.75% | 2.78% | 2.95% |
What the fund invests in
The fund invests mainly in cash and cash equivalents. These may include investments issued by New Zealand-registered banks, the New Zealand Government, corporations or local authorities, or non-New Zealand governments.
This chart shows the mix of assets that the fund generally intends to invest in – 100% cash and cash equivalents.
See the fund's investments in the full portfolio holdings spreadsheet:
Fund fee
% of your investment balance | |
|---|---|
Cash Fund annual fund charge | 0.25% |
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)
Financial markets recovered from the volatility experienced earlier in the year, with easing tensions in the Middle East helping to restore confidence across global markets. While equity and bond markets delivered positive returns, cash continued to provide a stable source of income and liquidity throughout the quarter.
In New Zealand, economic conditions remained challenging. Inflation remained above the Reserve Bank of New Zealand's target range, while consumer confidence stayed subdued. However, business confidence improved noticeably towards quarter end. The Reserve Bank left the Official Cash Rate unchanged at 2.25% throughout the quarter while maintaining a cautious stance on the inflation outlook.
New Zealand and global bond markets performed well over the quarter as concerns around inflation eased and oil prices fell sharply. In this environment, cash continued to provide a steady source of income and liquidity, while maintaining its low-risk characteristics.
The ANZ Wholesale Cash Fund is a low-risk fund focused on preserving capital while providing stable returns. The portfolio invests primarily in bank deposits, floating-rate notes and other high-quality short-term securities. This approach helps provide liquidity, minimise volatility and take advantage of attractive short-term interest rates when opportunities arise.
Overall, the fund remained well positioned throughout the quarter, continuing to prioritise capital protection, liquidity and steady returns for investors.
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.