Moderate Fund

Looking for more potential growth than the Conservative Fund? The Moderate Fund could be a good choice if you're working to a medium to long term timeframe and comfortable accepting a few more ups and downs in the value of your KiwiSaver savings.

Benefits at a glance

  • Targets moderate total returns over the medium to long term
  • Invests in a relatively high proportion of diversified income assets (fixed interest and cash) and a lower proportion of diversified growth assets (equities and listed property)
  • A maximum tax rate of 28% applies
  • Low fees

Is it right for me?

The Moderate Fund could suit you if:

  • You don’t expect to access your KiwiSaver savings for a minimum of four years.
  • You're willing to accept some risk with the aim of achieving moderate total returns.
  • You understand returns can vary from year to year and may be negative in some years.


Jack and Jan are in their late 50's with a freehold family home.

They both work fulltime and are unsure if they’ll retire in seven years at 65. They’re certain however that their KiwiSaver savings will be important to ensuring a comfortable retirement and may even help them avoid downsizing the house for as long as possible.

Jack and Jan want the potential to achieve moderate total returns over the medium to long term. They believe, given their medium term timeframe, they can cope with some but not big fluctuations in the value of their savings. Jack and Jan choose to switch from the higher risk and return Balanced Fund to the Moderate 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 higher risk and potential return profile than the Conservative Fund, the Moderate Fund targets a 60% investment in diversified income assets (fixed interest and cash), and a 40% in diversified growth assets (equities). The investment objective of this fund is to provide moderate total returns with a negative return expected less than one in every seven years.

Risk vs return

Target investment mix

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

How has this fund performed?

The Moderate 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.

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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 Moderate Fund