Lifetime Conservative Fund

  

The Lifetime Conservative 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 80% in income assets (Cash & Cash Equivalents, NZ Fixed Interest, & International Fixed Interest), and 20% 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:

        • 10% - S&P/NZX Bank Bills 90-Day Index
        • 35% - Bloomberg NZBond Composite 0+ Yr Index
        • 35% - Bloomberg MSCI Global Aggregate SRI Select ex-Fossil Fuels Index, 100% hedged to NZD
        • 2% - Morningstar New Zealand (total return) Index, including imputation credits
        • 2% - S&P/ASX 200 Accumulation Index (in NZD)
        • 5.5% - MSCI World Index NR ex NZ, Tobacco, Controversial and Nuclear Weapons
        • 5.5% - MSCI World Index NR ex NZ, Tobacco, Controversial and Nuclear Weapons, 100% hedged to NZD
        • 5% - 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

10%

NZ Fixed Interest

Fisher

Fisher

Fisher Institutional New Zealand Fixed Interest Fund

35%

International Fixed Interest

Mercer

UBS

Mercer Ethical Leaders Hedged Global Fixed Interest Fund

35%

NZ Equities

Simplicity

Simplicity

Simplicity NZ Share Fund

2%

Australian Equities

Mercer

Macquarie

Mercer Macquarie Australian Shares Fund

2%

International Equities

Mercer

Legal & General

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

11%

Listed Property

Kernel

Kernel

Kernel NZ Commercial Property Fund

5%

 

 

Lifetime Conservative Fund - Target Investment Mix 

  

Fund Performance

Find below the performance to 31 October 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

 -0.21% 1.11% 4.56% 10.49% 0.74% 0.72%

Before tax & after fees

 -0.40% 1.51% 6.00% 13.35% 0.98% 0.75%

         * Returns over 1-year are annualised

 

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