Kiwisaver Conservative Fund
Lower risk, modest returns
Looking to invest for at least 3 years? This Fund could be the one for you
Return focus:
Modest
Average annual return:
4.3% p.a. since inception July 2019
Minimum suggested time frame:
3+ years
Risk focus:
Lower
Estimated fund fees:
0.96% p.a.
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We focus on investing positively. This includes selecting well-managed, quality companies that meet our ethical standards and, where we can, private companies that have real-world impact.
What we don’t invest in:
We seek to avoid investments in activities that disrespect people, our planet and animals (some examples below). Note that this list is not exhaustive and we may still hold investments in these areas as we apply revenue thresholds and grant exceptions in limited circumstances. We may also have limited information about an investment’s involvement in a particular activity. Please hover over any ? icons for more details or read our Ethical Investment Policy or our Exceptions Register.
Factory Farming
Alcohol?
Palm Oil & GMOs?
Weapons?
Adult Entertainment?
Tobacco?
Gambling?
Fossil Fuel?
Animal Testing?
Returns
0.77%
1 month
5.55%
1 year
5.43%
3 years (p.a.)
4.29%
5 years (p.a.)
4.3%
p.a. since inception*
Past performance is no guarantee of future return. We encourage all investors to seek independent financial advice prior to making investment decisions. *31/07/19 (date of inception). To compare fund returns against the fund benchmark visit our Performance and Returns page.
Performance figures as of 30/06/2025, and are after fees before tax
Risk Level
This Fund is suited to an investor with a lower tolerance to risk and a minimum investment timeframe of 3+ years.
Lower Risk
Potentially Lower Returns
Higher Risk
Potentially Higher Returns
The rating reflects how much the value of the Fund’s assets goes up and down (volatility). A higher risk generally means higher potential returns over time, but more ups and downs along the way. This risk indicator is not a guarantee of a fund’s future performance. While risk indicators are usually relatively stable, they do shift from time to time. You can see the most recent risk indicator in the latest Quarterly Fund Update.
Compare our funds.
Choose the right fund for your risk tolerance and goals.
| KiwiSaver Conservative | KiwiSaver Balanced | KiwiSaver Growth | KiwiSaver High Growth | |
|---|---|---|---|---|
| Return focus | Modest | Medium | Medium to High | High |
| Risk focus | Lower | Medium | Higher | High |
| Likely fluctuation in value | Less than the Balanced, Growth and High Growth Funds | More than Conservative Fund but less than Growth and High Growth Funds | More than the Balanced or Conservative Funds but less than the High Growth Fund | More than the Growth, Balanced or Conservative Funds |
| Minimum suggested time frame | 3+ years | 5+ years | 8+ years | 10+ years |
| Estimated fund fees | 0.96% p.a. | 1.17% p.a. | 1.28% p.a. | 1.27% p.a. |
| Fund return since inception | 4.3% p.a. | 7.3% p.a. | 9.7% p.a. | 10.7% p.a. |
Investor Notes
Ethical Approach
The Pathfinder KiwiSaver Growth Fund has been designated a Certified Responsible Investment by RIAA (Responsible Investment Association Australasia).
View HoldingsDiversification
The fund is diversified across asset classes, industries and geographies. We use environmental, social and governance metrics, as well as financial metrics when making investment decisions.
Target Investment
24.0% Cash & Cash Equivalents
27.0% New Zealand Fixed Interest
39.0% International Fixed Interest
3.0% Australasian Equities
6.0% International Equities
1.0% Other Assets
Number of Holdings
Approximately 200
Asset Class
Cash (and Cash Equivalents), NZ Fixed Interest, International Fixed Interest, Australasian Equities, International Equities, Listed Property, Other Assets.
Investment horizon
3+ years
Benchmark
Morningstar® Target Allocation Index™: Conservative Multisector for New Zealand (non-New Zealand Fixed Interest 100% hedged to NZD. The index is gross of dividends and tax except for International Equities and International Listed Properties, which are gross of dividends after deducting the tax withheld)
Current Hedging Target
100% of non-NZD Fixed Income exposure
50% of other non-NZD exposure
Investor Documents
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