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.
Our default scheme is closed to new members
If you’re an existing member of the ANZ Default KiwiSaver Scheme, you can change between funds within the scheme using ANZ goMoney or Internet Banking.
Fund performance
Performance as at 30 September 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 | -0.66% | 6.03% | 9.16% | 3.82% | 5.72% | 5.79% |
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 | 0.90% |
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 September 2026)
The fund invests across a diversified mix of shares and bonds, with both asset classes influencing performance. Financial markets experienced a volatile quarter as renewed hostilities in the Middle East pushed oil prices higher and fuelled concerns that inflation could remain elevated for longer. As a result, investors reassessed the outlook for interest rates and economic growth.
In response to inflation pressures, several central banks raised interest rates during the quarter. In the US, the Federal Reserve increased interest rates for the first time since 2023, while the European Central Bank also moved rates higher. In New Zealand, the Reserve Bank increased the Official Cash Rate twice, taking it to 2.75%, and signalled that further increases may be required. Expectations that interest rates could remain higher for longer weighed on bond markets.
Share markets proved more resilient than bond markets over the quarter. International shares delivered gains overall, supported by strong company earnings, while New Zealand shares also rose, albeit more modestly, as business confidence remained relatively resilient despite ongoing inflation pressures.
Performance reflected a mixed environment across asset classes. International share investments delivered positive returns, while bonds faced headwinds as rising interest rates weighed on fixed interest markets. Property and infrastructure investments were also impacted by the higher interest rate environment.
Looking ahead, inflation and interest rate expectations are likely to remain key drivers of market performance. While uncertainty remains elevated, the fund remains diversified across a range of asset classes and continues to focus on delivering long-term investment outcomes.
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.