Lifetime Balanced Fund

Lifetime Balanced Fund

  

The Lifetime Balanced Fund is a diversified fund that provides exposure to a range of asset classes. It employs an active asset allocation strategy and a passive investment management strategy invested 40% in income assets (Cash & Cash Equivalents, NZ Fixed Interest, & International Fixed Interest), and 60% in growth assets (Listed Property, Australasian Equities, & International Equities).

 

Investment Objectives

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

• • • 5% - S&P/NZX Bank Bills 90-Day Index
    • 17.5% - Bloomberg NZBond Composite 0+ Yr Index
    • 17.5% - Bloomberg MSCI Global Aggregate SRI Select ex-Fossil Fuels Index, 100% hedged to NZD
    • 7.5% - Morningstar New Zealand (total return) Index, including imputation credits
    • 7.5% - S&P/ASX 200 Accumulation Index (in NZD)
    • 17.5% - MSCI World Index NR ex NZ, Tobacco, Controversial and Nuclear Weapons
    • 17.5% - MSCI World Index NR ex NZ, Tobacco, Controversial and Nuclear Weapons, 100% hedged to NZD
    • 10% - S&P/NZX Real Estate Select Index

 

Underlying Managers & Target Asset Allocations

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

For more information you can access the Funds Statement of Investment Objectives and Policy (SIPO).

 

Asset Class	Underlying Fund Managers	Investment Managers	Product Name	Benchmark Asset Allocation
Cash & Cash Equivalents	Fisher	Fisher	Fisher Institutional New Zealand Cash Fund	5%
NZ Fixed Interest	Fisher	Fisher	Fisher Institutional New Zealand Fixed Interest Fund	17.5%
International Fixed Interest	Mercer	UBS	Mercer Ethical Leaders Hedged Global Fixed Interest Fund	17.5%
NZ Equities	Simplicity	Simplicity	Simplicity NZ Share Fund	7.5%
Australian Equities	Mercer	Macquarie	Mercer Macquarie Australian Shares Fund	7.5%
International Equities	Mercer	Legal & General	Mercer Socially Responsible Overseas Shares Index Portfolio (Hedged & Unhedged)	35%
Listed Property	Kernel	Kernel	Kernel NZ Commercial Property Fund	10%

 

 

Lifetime Balanced Fund - Target Investment Mix 

  

Fund Performance

Find below the performance to 30 November 2024. The returns are after tax & fees (at 28%), and before tax & after fees.

 

PIR Tax Rate	1-Month	3-Month	6-Month	12-Month	3-Years*	5-Years*
After tax & fees	2.41%	3.34%	8.32%	15.93%	2.78%	3.24%
Before tax & after fees	2.57%	3.73%	9.50%	17.93%	3.20%	3.51%

         * Returns over 1-year are annualised

 

The ‘AMP Balanced Fund’ was renamed the ‘Lifetime Balanced Fund’ when Lifetime Asset Management acquired the Scheme on 1 March 2023. Performance therefore reflects the ‘AMP Balanced Fund’ prior to 1 March 2023.