ANZ Default KiwiSaver Scheme Cash Fund

Fund report as at 31 December 2018

How has the fund performed?

Performance as at 31 December 2018

3 months

1 year

3 years (pa)

5 years (pa)

Since launch

0.56%

2.23%

2.31%

2.73%

3.45%

Performance is after the annual fund charge, and before tax and membership fees (if applicable). For more information, see legal information and disclaimers

What happened this quarter (3 months to 31 December 2018)    

  • The fund delivered a steady return during what was a turbulent period for financial markets.
  • Performance continued to benefit from the attractive interest rates available on bank term deposits, which make up around 40% of the fund.
  • Also of benefit was the fund’s allocation to Floating Rate Notes, which offer relatively attractive yields without compromising the fund’s liquidity.
  • As expected, the Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate unchanged throughout the quarter. While the specific wording was removed from its most recent statement in November, the RBNZ reiterated that interest rates could go ‘up or down’. In fact, a weak third-quarter GDP number suggests that rates will need to stay lower for longer, and could possibly even lead to a cut.

Need more information?

  • Read our Market Review for more information on investment markets
  • Key read: why it’s wise not to try to time the market or chase returns

How the fund performed against its objective

The fund aims to achieve a positive yearly return (after the fund charge and before tax) that over the long term is in line with the S&P/NZX Bank Bills 90 Day Index.

What does the fund invest in?

The fund invests mainly in cash and cash equivalents. These may include investments issued by the New Zealand Government, New Zealand-registered banks, corporations and local authorities.

This chart shows the mix of assets that the fund generally intends to invest in.

Cash TIM no header

 

 

 

 

 

See the fund's actual investment mix on page 3 of the Fund update.

 

 The fine print Hide
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