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Westpac KiwiSaver Scheme

Moderate Fund

BT Funds Management (NZ) Limited

Balanced fund type

Here's what the provider says about this fund:

The Moderate Fund aims to provide moderate returns over the medium term. The fund has a higher benchmark allocation to income assets than to growth assets. Volatility is expected to be higher than the Conservative Fund but lower than the Balanced Fund in the Westpac KiwiSaver Scheme.

Considering switching to this fund? Read the must-knows of switching funds before you start the switching process.

Combined fees

This fund

The combined fees are how much you would have been charged for the year ended 31 March 2017 on the average KiwiSaver balance.

All the averages you see are for this same type of fund, so you’re comparing apples with apples.

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Combined fees include

Membership fees per year

This fund

Here you’ll find the total breakdown of the combined fees. These don’t include other fees such as for switching or withdrawing.

+ Total fund fees

This fund
Annual management fee
Performance-based fees
Other fees and costs

Your KiwiSaver money is invested by a professional fund manager, so there are always fees to pay. Fees can have a big impact on your nest egg, especially in the long run, so it pays to keep a close eye on how they add up.

Must-knows of KiwiSaver fees.

Combined fees example

On a balanced fund of $14,400 the annual fees would be approximately:

This fund


From the September 2017 KiwiSaver provider survey

This fund
No survey
data yet

We surveyed KiwiSaver providers on how many different ways they help their members with investment options, communicate with members, and the extra services they offer.

So this rating is more about the quantity than the quality of services. 

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Help with investment options

This fund
No survey data yet

Communications to members

No survey data yet

Other services

No survey data yet

Here ‘help’ means things like online forms, tools, calculators and information on how to optimise your KiwiSaver. 

More communication is not always better communication, but if the provider gives you options on how you like to be reached, that usually helps.

These extras include a range of additional services that are helpful.

Must-knows of KiwiSaver service


Since April 2012

This fund
No 5-year
data yet

Warning about returns!

These show how funds have performed in the past, but that’s not a good guide to how they’ll perform in the future. Don’t switch funds based on past returns.

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Compare past returns

All returns shown are after total fund fees (not membership fees) and tax (28% PIR).

Last twelve months

This fund

April 2016 - March 2017


April 2015 - March 2016


The last twelve months refers to January 2017 to December 2017.

In general, it’s good to look at the longest possible time period when weighing returns. After all, with retirement savings, it’s the long game that counts.

Must-knows of KiwiSaver returns.

More fund details

Balanced fund type

Which is the right type for me?

What’s in this fund

At 31 December 2017

This shows the actual mix of investments that this fund held on 31 December 2017. This mix continually changes because of market swings and managers’ rebalancing, so these percentages are a snapshot. But it will give you a good idea of where your money is being invested.

How this fund invests your money

How this fund invests your money
Cash Bonds Property Shares Other
Assets 12.11 48.65 5.43 28.84 4.97

Fund information

Number of members
Total value of fund
Date fund started
02 Jul 2014

More information

More information can be found at:

Top 10 investments

These assets make up 13.43% of this fund.

Top 10 investments
Kind of investment Country Percentage of the fund Name
Other KY 2.43 K2 Alternative Strategies Nz Portfolio
New Zealand fixed interest NZ 1.61 Nz Government Bond 5.5% 15/04/2023
New Zealand fixed interest NZ 1.58 Nz Government Bond 6% 15/05/2021
International fixed interest US 1.4 2Y T-Note (Cbt) Mar 18
Other LU 1.3 Blackrock Style Advantage Fund
Other LU 1.17 Goldman Sachs Alternative Risk Premia Portfolio
New Zealand fixed interest NZ 1.15 Nz Government Bond 4.5% 15/04/2027
Australasian equities NZ 0.99 Fisher & Paykel Healthcare Ltd
Listed Property NZ 0.96 Kiwi Property Group Ltd
Australasian equities NZ 0.84 A2 Milk Company Ltd

Key personnel

Key personnel
Name Current position Time in role
Nigel Jackson Acting Head Of Investments & Insurance 0 years, 10 months
Matthew Goldsack Head Of Investment Solutions 9 years, 0 months
Francois Richeboeuf Senior Portfolio Manager 7 years, 2 months
Angelika Sansom Investment Analytics Manager 16 years, 4 months
Stephen Hong Senior Portfolio Manager 5 years, 3 months