- Provider website
- Fund start date
23 July 2019
Mix
This is the actual mix of growth assets (shares, property) and income assets (bonds, cash) that this fund held on 31 December 2019. The average mix for balanced KiwiSaver funds is in grey.
Fees
The fees shown here (in purple) are what you would have paid if you had $10,000 in this fund during the year ending 31 March 2019. Average fees for balanced KiwiSaver funds are in grey.
Returns
Returns here (in green) show how much this fund has grown in value over the five years up to 31 December 2019, after fees and taxes. Compare with the average balanced KiwiSaver fund (in grey).
Key facts
Here is what the provider says about this managed fund
“ An ethical portfolio with a balance between growth assets and income assets. This Fund’s value is likely to fluctuate more than the Conservative Fund but less than the Growth Fund. ”
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 2019.
You can also see the average for Balanced funds, which typically hold from 35% to 63% of growth assets.
This fund's asset mix
- Growth assets
- Income assets
- ASSET TYPE
- THIS FUND
- AVERAGE OF ALL BALANCED KIWISAVER FUNDS
Shares
Property
Breakdown on Property assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 6.65% | — | 4.46% |
| Listed property | 6.65% | 0% | 3.79% |
| Unlisted property | 0.00% | 0% | 0.67% |
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.
Other
Breakdown on Other assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 0.00% | — | 1.77% |
| Commodities | 0.00% | 0% | 0.21% |
| Other | 0.00% | 0% | 1.56% |
| 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.
Bonds
Breakdown on Bonds assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 10.87% | — | 37.73% |
| New Zealand bonds | 8.39% | 10% | 15.85% |
| International bonds | 2.48% | 20% | 21.89% |
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.
Cash
Breakdown on Cash assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 26.45% | — | 11.25% |
| Cash and equivalents | 26.45% | 10% | 11.25% |
About cash
Cash is a kind of investment that pays you interest. It includes term deposits, floating-rate notes and money market accounts. Cash, which is often a loan to a bank, is an income asset. Here's more on investing in term deposits.
Top 10 investments
These assets make up 73.44% of this fund.
| Asset | Asset class | Type | Country | % of Fund |
|---|---|---|---|---|
| CASH AT BANK - NZD | Cash | Cash and equivalents | NZ | 40.75% |
| BCHINA TERM DEPOSIT 2.65% 13/12/2019 12/06/2020 | Cash | Cash and equivalents | NZ | 7.24% |
| PWA BZLNZ TERM DEPOSIT 2.82% 19/12/2019 19/06/2020 | Cash | Cash and equivalents | NZ | 6.33% |
| PWA WSTP TERM DEPOSIT 2.71% 20/12/2019 18/05/2020 | Cash | Cash and equivalents | NZ | 6.33% |
| ALVARIUM PRIVATE CREDIT FUND | Bonds | New Zealand fixed interest | NZ | 3.61% |
| LLPFSPVL TERM DEPOSIT 12%20/11/2019 10/09/2021 | Cash | Cash and equivalents | NZ | 2.53% |
| KEYENCE CORP | Shares | International equities | JP | 1.90% |
| MICROSOFT CORPORATION | Shares | International equities | US | 1.80% |
| ISHARES 1-3 YEAR TREASURY BOND | Bonds | International fixed interest | US | 1.50% |
| LLPFSPVL TERM DEPOSIT 12% 01/10/2019 10/09/2021 | Cash | Cash and equivalents | NZ | 1.45% |
Full list of investments this fund holds
full-portfolio-holdings-CBF-19-09-30.xlsx
A complete list of the fund's holdings
Fees
These are the fees you would have paid (in purple) if you had $10,000 in this fund during the 12 months that ended on 31 March 2019. You can compare these with fees for the average balanced KiwiSaver fund (in grey).
Fees breakdown
Here's a breakdown of the different charges in this fund (in purple), compared to the average balanced KiwiSaver fund (in grey).
| Fee Type | % For Year Ending | 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. |
1.10%
AVG: 0.86%
|
$110.00
AVG: $86.47
|
OtherThis is a summary of other potential costs not covered in the categories displayed. |
0.02%
AVG: 0.16%
|
$2.00
AVG: $15.93
|
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: 0.01%
|
$0.00
AVG: $0.66
|
MembershipYou pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance. |
0.27%
AVG: 0.29%
|
$27.00
AVG: $29.30
|
Total combined feesThese are a total of total of management and administration charges and performance-based fees for the year ending . They do not include fees for activities like transfering or withdrawing. |
1.39%
AVG: 1.32%
|
$139.00
AVG: $132.35
|
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 balanced KiwiSaver funds (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.
CareSaver - Product Disclosure Statement.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.
CareSaver - Product Disclosure Statement.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.
CBF 31 Dec 2019.pdf
The quarterly update published by the provider
Complete asset portfolio
Browse through the complete list of investments held by this fund.
full-portfolio-holdings-CBF-19-09-30.xlsx
A complete list of the fund's holdings
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
CareSaver - OMI.pdf
CareSaver - Ethical Investment Policy.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.
CareSaver SIPO FINAL 25 June 2019.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 |
|---|---|---|
| JOHN BERRY | Pathfinder Asset Management - Chief Executive Officer | 10 years, 9 months |
| PAUL BROWNSEY | Pathfinder Asset Management - Chief Investment Officer | 10 years, 9 months |
Additional details
Manager details
Name
PATHFINDER ASSET MANAGEMENT LIMITED
Type
NZ Limited Company
Website
NZBN
9429032418927
FSP Number
Supervisor
Name
PUBLIC TRUST
Fund details
Asset liquidity ratio
75.29%
Total value of fund
$2,767,508.97
Debt ratio
1.83%
Continuous issue
Yes
Default KiwiSaver
No
Lifecycle option
No
Multi-fund option
No
Schedule 1 exemption
No
FMA exemption
No
Number of members
76
Reference numbers
Fund
FND14931: CARESAVER BALANCED FUND
Offer
OFR12681: CARESAVER KIWISAVER SCHEME
Scheme
SCH12666: CARESAVER 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. path.co.nz