Balanced Fund

Focused on growing your KiwiSaver savings over the long term? The Balanced Fund could be a good choice if you're aiming for moderate to high total returns over the long term, with less risk than the Growth Fund.

Benefits at a glance

  • Targets moderate to high total returns over the long term
  • Invests in a relatively high proportion of diversified growth assets (equities and listed property) and a lower proportion of diversified income assets (fixed interest and cash)
  • A maximum tax rate of 28% applies
  • Canstar has recognised the Balanced Fund for providing 'Outstanding Value' since 2011

Is it right for me?

The Balanced Fund could suit you if:

  • You don’t expect to access your KiwiSaver savings for at least eight years.
  • You’re willing to accept more risk than the Moderate Fund, with the potential for moderate to high total returns over the long term.
  • You’re sure you can tolerate the fluctuations that come with a fund that has a higher proportion of growth assets like equities and property.
  • You fully understand returns will vary from year to year and may be negative in some years.


After starting his first fulltime job, Dylan (18) has found himself in the ASB KiwiSaver Scheme Conservative Fund. This is the default fund, automatically selected because he didn’t actively choose his KiwiSaver provider.

Dylan's not planning to buy a home in the next ten years, but he’d eventually like to use his KiwiSaver savings for a first home withdrawal. Based on this, he moves his KiwiSaver savings to the Balanced Fund as he’s prepared to accept more volatility in the value of his investment in order to seek moderate to high total returns over the long term.

Discover the fund that's right for you

Use our Help me choose tool to work out what type of investor you are, and suggest a fund that might suit you.

About this fund

Offering a higher risk and potential return than the Moderate Fund, the Balanced Fund targets a 60% investment in diversified growth assets (equities and listed property), and 40% percent in diversified income assets (fixed interest and cash). The investment objective of this fund is to provide moderate to high total returns with a negative return expected less than one in every five years.

Risk vs return

Target investment mix

For more information about how we manage the Balanced Fund see the Statement of Investment Policy and Objectives.  

How has this fund performed?

The Balanced Fund’s quarterly fund updates show fund performance, fees and the assets that this fund invested in.

You might also like to look at the Returns to Investors and the latest Investment Review.


Administration fee (other charge)

per year

Management fee (annual fund charge)

The annual fund charge shown above is an estimated percentage of the net asset value of the fund, based on actual fund charges for the year ending 31 March 2016.

We reduce your investment each month to pay for the fees. Fees are plus GST, if any.

Compare fees for all funds.

Get started today

01. Select

We have a range of funds to choose from. Use our Help me choose tool to find a fund that may suit you.

02. Join

Sign up to the ASB KiwiSaver Scheme. Apply online if you're registered with FastNet Classic internet banking. New to ASB? Complete the online form.

03. Set up

Register for FastNet Classic internet banking to make managing your ASB KiwiSaver Scheme account easier.

04. Manage

Review your ASB KiwiSaver Scheme savings each year to make sure you're on track to meet your financial goals, change funds if you need to and review your contribution level.

Apply for the ASB KiwiSaver Scheme

Apply online

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Speak to a KiwiSaver specialist. 

0800 ASB RETIRE (0800 272 738)

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The information on this page has been prepared without taking account of your objectives, financial situation or needs. The information does not constitute personalised advice. You should seek independent investment advice.

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.business.govt.nz/disclose (search for ASB KiwiSaver Scheme).

ASB KiwiSaver Scheme Balanced Fund