- Provider website
- Fund start date
14 October 2015
Mix
This is the actual mix of growth assets (shares, property) and income assets (bonds, cash) that this fund held on 31 December 2024. The average mix for defensive KiwiSaver funds is in grey.
Fees
Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. Compare with the average fees for defensive KiwiSaver funds (in grey).
Returns
Returns (in green) show how much this fund has grown in value in five years up to 31 December 2024 – after fees and taxes. Compare with the average defensive KiwiSaver fund (in grey).
Key facts
Here is what the provider says about this managed fund
“ The fund aims to provide investors with a low-risk investment option that invests predominantly in income producing assets, the majority of these being cash and fixed interest investments. The Fund may also hold high dividend yielding equities and/or listed property and infrastructure investments. ”
When can you get your money out?
This is a KiwiSaver fund, which means generally you can withdraw only to purchase a first home, after the age of 65 or in cases of financial hardship.
Mix
This is a snapshot of the proportion of growth assets (shares, property, other) or income assets (cash, bonds) that this fund held on 31 December 2024.
You can also see the average for Defensive funds, which typically hold from 0% to 10% of growth assets.
This fund's asset mix
- Growth assets
- Income assets
- ASSET TYPE
- THIS FUND
- AVERAGE OF ALL DEFENSIVE KIWISAVER FUNDS
Breakdown on Property assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 0.00% | — | 0.13% |
| Listed property | 0.00% | 0% | 0.08% |
| Unlisted property | 0.00% | 0% | 0.05% |
About property
Property refers to commercial real estate (not the family home) owned through property trusts or companies that own or develop real estate as their business. Properties are growth assets and can be listed on an exchange or be unlisted.
Breakdown on Other assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 0.00% | — | 0.08% |
| Commodities | 0.00% | 0% | 0.00% |
| Other | 0.00% | 0% | 0.08% |
| Unknown | 0.00% | 0% | 0.00% |
What "other" means
This category can include alternative investments such as derivatives, often through a hedge fund. These "other" investments are typically considered growth assets, or high-risk investments.
Breakdown on Bonds assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 87.72% | — | 55.95% |
| New Zealand bonds | 27.22% | 25.00% | 33.63% |
| International bonds | 60.50% | 60.00% | 22.32% |
About bonds
A bond is a bit like a term deposit at a bank, but it's effectively a loan you make to a company or government which they promise to pay back in full on a specific date. Until then, you receive regular interest at a fixed or agreed rate. Bonds are income assets and can also be called "fixed interest" or "debt securities". Since they can typically be traded on a secondary market, their value can go up and down. Here's more on the basics of bonds.
Breakdown on Cash assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 12.28% | — | 43.61% |
| Cash and equivalents | 12.28% | 15.00% | 43.61% |
About cash
Cash is a kind of investment that generally pays you interest. (An exception to this are shariah-compliant funds, which can hold cash but are prohibted from earning interest.) Cash typically includes term deposits, floating-rate notes and money market accounts. Cash, which is often a loan to a bank, is considered an income asset. Here's more on investing in term deposits.
Top 10 investments
These assets make up 90.59% of this fund.
| Asset | Asset class | Type | Country | % of Fund |
|---|---|---|---|---|
| DIMENSIONAL GLOBAL BOND SUSTAINABILITY PIE FUND | Bonds | International fixed interest | NZ | 25.45% |
| ISHARES GLOBAL AGGREGATE BOND ESG UCITS ETF NZD HEDGED | Bonds | International fixed interest | IE | 24.40% |
| HARBOUR NZ CORE FIXED INTEREST FUND | Bonds | New Zealand fixed interest | NZ | 23.93% |
| DIMENSIONAL FIVE-YEAR DIVERSIFIED FIXED INTEREST PIE FUND | Bonds | International fixed interest | NZ | 5.86% |
| DIMENSIONAL TWO-YEAR SUSTAINABILITY FIXED INTEREST PIE FUND | Bonds | International fixed interest | NZ | 4.79% |
| SBS BANK 07/03/2029 6.14% | Bonds | New Zealand fixed interest | NZ | 1.64% |
| SOUTHLAND BUILDING SOCIETY TERM DEPOSIT MATURITY 24/06/25 | Cash | Cash and equivalents | NZ | 1.22% |
| SOUTHLAND BUILDING SOCIETY TERM DEPOSIT MATURITY 10/07/25 | Cash | Cash and equivalents | NZ | 1.22% |
| SOUTHLAND BUILDING SOCIETY TERM DEPOSIT MATURITY 21/05/25 | Cash | Cash and equivalents | NZ | 1.21% |
| SBS BANK 18/03/2027 4.32% | Bonds | New Zealand fixed interest | NZ | 0.87% |
Full list of investments this fund holds
SBS Wealth Income Fund - Full portfolio holdings (as at 30 Sep 2024).xlsx
A complete list of the fund's holdings
Fees
Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. You can compare these with fees for the average defensive KiwiSaver fund (in grey).
Fees breakdown
Here's a breakdown of the different charges in this fund (in purple), compared to the average defensive KiwiSaver fund (in grey).
| Fee Type | % Over a Year | Amount Paid on a 10K Balance |
|---|---|---|
ManagementThis fee is charged to you by the fund manager on the fund or an underlying fund, and is based on a percentage of your balance. |
0.50%
AVG: 0.49%
|
$50.00
AVG: $48.53
|
OtherThis is a summary of other potential costs not covered in the categories displayed. |
0.36%
AVG: 0.05%
|
$36.00
AVG: $5.13
|
Performance-basedThese fees are based on the performance of the fund or underlying fund. When the fund performs well, these will be higher. |
None
AVG: 0.00%
|
$0.00
AVG: $0.00
|
MembershipYou pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance. |
0.00%
AVG: 0.15%
|
$0.00
AVG: $15.43
|
Total combined feesThese are a total of management and administration charges and performance-based fees over a year. They do not necessarily include fees for activities like transferring or withdrawing. |
0.86%
AVG: 0.69%
|
$86.00
AVG: $69.09
|
Returns
For the past five years, this fund returned this average each year to investors (in green). This was after fees and taxes (28% PIR) were taken out. To compare, you can see the average return over the same time for all defensive KiwiSaver funds (in grey).
Yearly returns
These annual returns (in green) were for the 12 months up to 31 March 2024. You can compare them to the average defensive KiwiSaver fund (in grey).
Risks
Specific risks for this fund
Chasing higher returns while investing always increases risks. Several kinds of risks, actually. It is important to evaluate whether the returns are worth it, whether you can cope, and whether this investment will in fact help you achieve your goals. Also, since the way an investment is structured can make it riskier, it's important to understand how it works.
You'll find the specific risks in the Risk section of the PDS, and here's more about understanding risk.
5048 SBS Wealth KiwiSaver Scheme Product Disclosure Statement 092024.pdf
How this investment works, including about the provider, risks, costs and potential returns
Risk indicator
This is a gauge of how volatile this investment has been – how much it has gone up and down in value. It has been calculated based on the fund's five-year performance (or an appropriate market index if it has not been around that long).
The left side of this range of numbers indicates a Lower risk
The right side of this range of numbers indicates a Higher risk
- 1
- 2
- 3
- 4
- 5
- 6
- 7
The left side of this range of numbers indicates
Potentially
lower returns
The right side of this range numbers indicates
Potentially
higher
returns
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
5048 SBS Wealth KiwiSaver Scheme Product Disclosure Statement 092024.pdf
How this investment works, including about the provider, risks, costs and potential returns
Fund update (most recent)
This update from the provider lets you see much of the same information shown here in Smart Investor: how this fund is performing, what it costs and the investments it currently holds.
FUND UPDATE (Income Fund 31122024).pdf
The quarterly update published by the provider
Complete asset portfolio
Browse through the complete list of investments held by this fund.
SBS Wealth Income Fund - Full portfolio holdings (as at 30 Sep 2024).xlsx
A complete list of the fund's holdings
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
LKS OMI 20180413 Final.pdf
LKS SIPO 201804 FINAL.pdf
Execution LKS Deed of amendment 20180413 Final.pdf
LKS OMI 20190826 FINAL.pdf
LKS SIPO 20190826.pdf
Lifestages KiwiSaver Scheme OMI 01092020.pdf
Lifestages KiwiSaver Scheme SIPO 01092020.pdf
Lifestages Kiwisaver OMI 20210201.pdf
Lifestages Kiwisaver OMI_09-2021 (Final).pdf
Lifestages Kiwisaver SIPO_09-2021 (Final).pdf
Lifestages Kiwisaver OMI_01122022-v2(900770372.2) v1.pdf
59222-Lifestages Kiwisaver OMI_30062023_final.pdf
5049 SBS Wealth Kiwisaver Scheme Other Material Information 092024.pdf
5051 SBS Wealth KiwiSaver Scheme SIPO 092024.pdf
Deed of Amendment - Lifestages KiwiSaver Scheme 02092024.pdf
Statement of investment policy and objectives (SIPO)
A SIPO tells you where the fund managers are coming from. It sets out the governance and management framework, philosophy, strategies and objectives for this investment.
5051 SBS Wealth KiwiSaver Scheme SIPO 092024.pdf
Strategies and objectives for this investment
Key personnel
These are the directors and employees who have the most influence on investment decisions for this fund.
| Name | Current position | Time in role |
|---|---|---|
| PHIL ELLISON | Non-executive Director / Investment Committee member | 2 years, 5 months |
| MARTIN PIKE | Chief Investment Officer | 9 years, 3 months |
| MORNE REDGARD | Chief Executive Officer, SBS Wealth Limited | 1 year, 7 months |
| MIKE SKILLING | Non-executive Director / Investment Committee chairperson | 8 years, 7 months |
| DEREK YOUNG | Chief Operating Officer | 1 year, 5 months |
Additional details
Manager details
Name
SBS WEALTH LIMITED
Type
NZ Limited Company
Website
NZBN
9429036803323
FSP Number
Supervisor
Name
TRUSTEES EXECUTORS LIMITED
Fund details
Asset liquidity ratio
97.65%
Total value of fund
$253,397,344.27
Debt ratio
0.15%
Continuous issue
Yes
Default KiwiSaver
No
Lifecycle option
No
Multi-fund option
No
Schedule 1 exemption
No
FMA exemption
No
Number of members
12,342
Reference numbers
Fund
FND2871: SBS WEALTH INCOME FUND
Offer
OFR11155: SBS WEALTH KIWISAVER SCHEME
Scheme
SCH11156: SBS WEALTH KIWISAVER SCHEME
Next steps
Want to know more about this investment or how it compares to others? Have a look at its peers.
Product disclosure statement
Take a deeper dive into the PDS, which has essential details about this offer and the company providing it. Here's more on how to read a PDS.
Fund update (most recent)
These are provided to members of the fund (usually once each quarter) to update them on its performance.
Getting investment advice
Good advice is gold. Everyone can benefit from expert advice, provided the adviser has your interests at heart. Here's how to find one and key questions to ask.
Interested in investing in this offer? Visit the provider's website. sbswealth.co.nz