Conservative Fund

Looking for fewer fluctuations? The Conservative Fund could be a good choice if you're working to a short to medium term timeframe and lower risk is your priority.

Benefits at a glance

  • Provides a lower risk fund choice
  • Invests in a high proportion of diversified income assets (fixed interest and cash) and a low proportion of diversified growth assets (equities)
  • A maximum tax rate of 28% applies
  • Low fees

Is it right for me?

The Conservative Fund could suit you if:

  • You don’t expect to access your KiwiSaver savings for a minimum of two years.
  • Lowering risk is your priority and you understand this may result in lower returns.
  • You understand returns can vary from year to year and may be negative in some years.


Maxine (52) is a conservative type of investor, looking for more stable returns. She believes she is in a solid financial position and has around 13 years before she retires.

After doing some research, Maxine knows given her investment timeframe she might get better returns from a higher risk fund. However, she also recognises she’s always been anxious about money and it’s unlikely she would be comfortable with the highs and lows of a more volatile fund choice.

Based on her circumstances, Maxine chooses the Conservative Fund.

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 lower risk and potential return profile among the ASB KiwiSaver Scheme funds, the Conservative Fund targets an 80% investment in diversified income assets (fixed interest and cash) and a 20% investment in diversified growth assets (equities). The investment objective of this fund is to provide modest total returns with a negative return expected less than one in every 25 years.

Risk vs return

Target investment mix

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

How has this fund performed?

The Conservative 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

Ready for the next step? Apply online and start saving.

Apply online

Call us

Speak to a KiwiSaver specialist. 

0800 ASB RETIRE (0800 272 738)

Visit a branch

Visit us at one of our many branches across New Zealand.

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Any questions?

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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 Conservative Fund