KiwiSaver Fund

This fund has 59% growth assets and 41% income assets.


The minimum suggested investment timeframe is 6 years.

Simplicity Fee


Market Average

1.04% *

* Market average fee sourced from Sorted Smart Investor based on $10,000 in diversified funds with a similar growth / income asset allocation as at 2 May 2024. Simplicity fee as at 2 May 2024.

Why invest in this fund?

Invests for income and growth

With a mix of growth and income assets, the fund aims to deliver appropriate risk-adjusted returns over both the short and long-term.

Low, low fees

We're focused on keeping fees low. Because the less we take, the more you can make.

Highly diversified

With over 4,000 investments in more than 20 countries, your investment provides exposure to a wide range of assets.

Ethically screened

All our funds are ethically screened, in accordance with our Responsible Investment Policy.

What this fund invests in

Over 4,000 investments in more than 20 countries.

The target asset allocations are 59% in growth assets (43.5% International shares and 15.5% New Zealand shares) and 41% in income assets (2% cash and cash equivalents, 16.5% New Zealand fixed interest, and 22.5% International fixed interest).


The returns and volatility are likely to be higher than the Conservative Fund over the longer term (10 years or more), and lower than the Growth Fund.


This option suits members seeking medium term growth by lessening risk through broad diversification.

Target asset allocation



1 Month


3 Months


1 Year


2 Years

3 Years

5 Years

* These returns are to 31-05-2024 and are before tax and after fund management fees. Yearly returns are per annum. Past performance is not necessarily an indicator of future performance and return periods may differ.

Risk Profile

The risk indicator 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.

Lower risk
Higher risk

Note that even the lowest category does not mean a risk-free investment, and there are other risks that are not captured in this rating. 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. The risk indicator reflects the most recent quarterly fund update or the PDS if a fund update has not yet been produced and will continue to be updated in future fund updates. See the product disclosure statement (PDS) for more information about the risk indicator and the risks associated with investing in this fund.

Frequently Asked Questions

What is the investment style and risk profile of the Default Fund?

Before 2021,  KiwiSaver default funds had a very similar investment style and risk profile to conservative funds. From the end of 2021 the government changed its KiwiSaver default policy settings and now default funds are very similar to balanced funds. This was done to generate higher long-term returns for default members.

Is the Default Fund government-guaranteed?

No. There is no Crown guarantee in respect of any investment in a KiwiSaver scheme.

How do I switch from the Default Fund?

As a member of Simplicity, you can request to switch to a different fund by logging into our member website.

Key Documents

Latest Fund Update

This document is produced quarterly and tells you how the fund has performed and what fees were charged and will help you to compare the fund with other funds.

Product Disclosure Statement

This document gives you important information to help you decide whether you want to invest. There is other useful information about this offer on

Statement of Investment Policy and Objectives (SIPO)

This policy describes Simplicity NZ Limited’s Governing Principles, provides a description of the Scheme, outlines its purpose and philosophy, its investment objectives and policies. It also covers investment performance monitoring and reporting.

Responsible Investment Policy

This policy describes Simplicity NZ Limited’s approach to responsible investment. This policy is to be read alongside our scheme governing documents, including the Statement of Investment Policy and Objectives (“SIPO”), Product Disclosure Statement (“PDS”) and Other Material Information (“OMI”).

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This fund invests mostly in growth assets.


This fund is invested in a mix of growth and income assets.


This fund is mostly invested in income assets, with a limited exposure to growth assets.


This fund is mostly invested in income assets, with very limited exposure to growth assets.

Minutes to join

Grab your IRD number and driver licence or passport, and fill in the form. We’ll do everything else %)