Lifetime Lifesteps Stability Fund

  

The Lifetime Lifesteps Stability Fund is a diversified fund that provides exposure to a range of asset classes. It employs an active asset allocation strategy invested 64% in income assets (Cash & Cash Equivalents, NZ Fixed Interest, & International Fixed Interest), and 36% in growth assets (Listed Property, Listed Infrastructure, Australasian Equities, & International Equities). It is expected to experience low to medium volatility.

 

Investment Objectives

The fund seeks to track composite indices (before annual fund charge and tax), comprising:

        • 12% - S&P/NZX Bank Bills 90-Day Index
        • 26% - Bloomberg NZBond Composite 0+ Yr Index
        • 26% - Bloomberg Global Aggregate Index, 100% hedged to NZD
        • 6% - Morningstar New Zealand (total return) Index, including imputation credits
        • 2% - S&P/ASX Fossil Fuel Screened Total Return Index in NZD
        • 21% - MSCI World ex Australia ESG Screened Index, 50% hedged to NZD
        • 3% - S&P/NZX Real Estate Select Index
        • 2% - Dow Jones Global Select ESG Tilted RESI, 100% hedged to NZD
        • 2% - Dow Jones Brookfield Global Infrastructure Index, 100% hedged to NZD

 

Underlying Managers & Target Asset Allocations 

The table below sets out the target asset allocation and underlying investment managers for the Fund.

Asset Class

Underlying Fund Managers

Underlying Fund

Benchmark Asset Allocation

Cash & Cash Equivalents

Fisher

Fisher Institutional New Zealand Cash Fund

12%

NZ Fixed Interest

Fisher

Fisher Institutional New Zealand Fixed Interest Fund

26%

International Fixed Interest

Smartshares

Smart Wholesale Global Government Bond Fund

Smart Wholesale Global Credit Fund

26%

NZ Equities

Simplicity

Simplicity NZ Share Fund

6%

Australian Equities

Smartshares

Smart Wholesale Global Equity ESG Fund

Smart Wholesale Global Equity ESG Fund Hedged

2%

International Equities

Smartshares

Mercer Socially Responsible Overseas Shares Index Portfolio (Hedged & Unhedged)

21%

NZ Listed Property

Kernel

Kernel NZ Commercial Property Fund

3%

International Listed Property

Kernel

Kernel Global Property (NZD Hedged) Fund

2%

International Listed Infrastructure

Kernel

Kernel Global Infrastructure (NZD Hedged) Fund

2%

 

 

Lifetime Lifesteps Stability Fund - Target Investment Mix 

 

The ‘AMP Lifesteps Stability Fund’ was renamed the ‘Lifetime Lifesteps Stability Fund’ when Lifetime Asset Management acquired the Scheme on 30 September 2023.