OneAnswer KiwiSaver Scheme Australasian Property Fund
Quarterly fund report
How has the fund performed?
Performance as at 30 September 2025
Rate | |
|---|---|
3 months | 13.59% |
1 year | 10.80% |
3 years (p.a.) | 3.76% |
5 years (p.a.) | 0.51% |
10 years (p.a.) | 6.03% |
Since launch (p.a.) | 5.93% |
Performance is after the annual fund charge and before tax. KiwiSaver rates, fees and agreements.
What happened this quarter (three months to 30 September 2025)
The New Zealand listed property sector delivered a standout 14.9% return for the quarter, significantly outperforming the NZX 50 Index (+5.5%), the international property index (+3.6%), and the Australian property index (+4.6%).
In August, the Reserve Bank of New Zealand (RBNZ) responded to weakening economic indicators by cutting the Official Cash Rate (OCR) by 25 basis points to 3.00%. The economy contracted by 0.9% in the June quarter – its third decline in five quarters – while annual GDP fell 1.1%. Per capita growth dropped 2.8%, with notable weakness in construction and manufacturing sectors.
On a brighter note, inflation remained contained. The annual Consumer Price Index (CPI) rose 2.7% in the June quarter, staying within the RBNZ’s target range. This helped justify the central bank’s continued accommodative stance, providing support for interest-sensitive sectors like property.
Over the quarter, the yield on the 10-year government bond yield fell to its lowest level in a year, ending the quarter at 4.19%, down 35 basis points.
Positive fund performance was largely driven by the tailwind the property sector got from falling bond yields and the interest rate cut by the RBNZ. Falling bond yields tend to help the property sector, as its cashflows become more attractive compared to lower bond yields.
Leading performers included Stride Property, Precinct Properties and Property For Industry. All three delivered double-digit returns, with Stride the top performer, rising 24.5%.
The retirement sector delivered mixed performances over the quarter with Ryman Healthcare the standout, rising more than 15%, while Summerset Group Holdings and Oceania Healthcare eked out more modest gains, up 5.4% and 3% respectively. Although the sector benefits from falling bond yields, it remains sensitive to the sluggish domestic housing market.
The outlook for the listed property sector has brightened in recent months. If the RBNZ continues to ease monetary policy and economic conditions begin to stabilise, the sector could see further positive momentum.
For more information on investment markets
What does the fund invest in?
The fund invests mainly in New Zealand and Australian listed property assets. Investments may include:
- Companies, funds or trusts that invest in property and are listed or intend to list
- Cash and cash equivalents.
This chart shows the mix of assets that the fund generally intends to invest in – 100% listed property.
See the fund's actual investment mix on page 3 of the fund update.
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.