The NZD Growth Fund is a New Zealand Dollar denominated fund employing an active asset allocation strategy and a passive investment management strategy invested 16% in income assets (New Zealand and international fixed interest), with 84% exposure to growth assets (Australasian and international equities).

 

Investment Objectives

The fund seeks to track composite indices (before annual fund charge and tax), comprising: 8% Bloomberg NZ Bond Govt 0+ Yr Index; 8% Bloomberg Global Aggregate Index, 100% hedged to NZD; 15% Morningstar New Zealand (total return) Index, including imputation credits; 15% S&P/NZX 50 Portfolio Index, including imputation credits; and 54% MSCI World ex Australia ESG Screened Index, 50% hedged to NZD.

Underlying Fund Managers

The table below sets out the target asset allocation and underlying investment managers for the Fund.

For more information you can access the Funds Statement of Investment Objectives and Policy (SIPO).

Asset Class

Underlying Fund Manager

 Underlying Fund Benchmark Asset Allocation 1
New Zealand fixed interest

Simplicity NZ Limited

 Simplicity NZ Bond Fund  8%

International fixed interest

 Smartshares Limited Smart Global Aggregate Bond ETF 8%

Australasian equities

 Simplicity NZ Limited Simplicity NZ Share Fund 30%

International equities

 Smartshares Limited

Smart Wholesale Global Equity ESG Fund

Smart Wholesale Global Equity ESG Fund Hedged

 54%
Total assets 100%

 

1 The Benchmark Asset Allocation, Maximum and Operating ranges are set out in the SIPO.

 

Fund Performance

See the below performance figures for the NZD Growth Fund as at 28 February 2026. The returns are after fees and after taxes:

PIR Tax Rate

Month

Quarter

12-months

3-Year

5-Year

Inception

28%

1.10%

 0.31% 9.32% 11.79% 5.89% 7.57%

0%

 1.21% 0.51% 10.36% 12.86% 6.67% 8.30%

* NZD Growth Fund was established on 24 December 2018

* Returns for periods longer than one year are annualised

 

The chart below shows the fund return after fund charges and tax (at 28%) for each full calendar year the fund has been in existence. The last bar shows the performance of the current calendar year to date (1 January 2026 to 28 February 2026).