ANZ Investments OneAnswer Conservative Balanced Fund
Managed by ANZ Investments PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
0.75%
vs peer avg 0.89%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
2.24%
peer avg 2.19%
Fund size
NZ$529.2m
23% growth · 77% income
The Conservative Balanced Fund invests mainly in income assets (cash and cash equivalents and fixed interest), with some exposure to growth assets (equities, listed property and listed infrastructure). The fund may also invest in alternative assets.The Conservative Balanced Fund aims to achieve (after the fund charge and before tax) over the long term low to moderate returns, allowing for small to moderate ups and downs in value.
Key facts
Fund start date
15 April 2010
Tax structure
PIE
Capped at your PIR (max 28%)
How this fund compares to peers
Mechanical comparison vs the 67 other diversified funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
0.75%
Category median: 0.99%
Cheaper than 75% of peers
5y return p.a. (after fees)
+2.24%
Category median: +3.27%
Below peer median (25th percentile)
Fund size
NZ$529.2m
Category median: NZ$57.5m
Top 16% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$369
Compounded charge over 5 years (excl. returns)
$116 less than peer median
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| F3 FNMA 30Yr Conventional 150534 0.00 TBA | 1.58% |
 Nvidia Corporation | 0.94% |
| NZ NZ Government Stock 15/05/2035 4.50 | 0.90% |
 Westpac Banking NZ Floating Rate Note 06/07/2026 | 0.88% |
| FA Fisher and Paykel Healthcare | 0.87% |
 Apple Inc | 0.84% |
| NG NZ Government Bond 15/05/2036 4.25 | 0.78% |
| NG NZ Government Bond 14/04/2033 3.50 | 0.75% |
| Westpac Banking Term Deposit 04/08/2026 2.995 | 0.75% |
| Westpac Banking Registered Certificate of Deposit 01/04/2026 | 0.72% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- CONSERVATIVE BALANCED FUND (FND2200) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 247.64 KB
- One Answer MAC Funds PDS 23 October 2025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.31 MB
- OAMAC Conservative Balanced Fund.pdf The quarterly update published by the provider PDF, 173.31 KB
- OAMACOMI 23 October 2025.pdf OMI - Details important information about the OneAnswer Multi-Asset-Class Funds. You should read this document in conjunction with the guide and product disclosure stateme
- ANZ Investments Multi Asset Class Scheme SIPO 23 October 2025.pdf SIPO - Information about how the funds in the OneAnswer Multi-Asset-Class Funds invest. PDF, 265.03 KB
- One Answer MAC Funds Guide 23 October 2025.pdf Guide - A helpful guide to the OneAnswer Multi-Asset-Class Funds, including how to make the funds work for you, an overview, case studies and information
- OAMAC Underlying Funds and external fund managers 1 April 2026.pdf OneAnswer Multi-Asset-Class Funds - Underlying funds and external fund managers PDF, 85.84 KB
- ANZ Investments Responsible Investment Framework 30 April 2026.pdf Responsible Investment Framework PDF, 1.32 MB
- ANZ Investments Multi Asset Class Scheme SIPO 23 October 2025.pdf Statement of investment policy and objectives PDF, 265.03 KB
About this category
Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
About ANZ Investments
Asset-management arm of ANZ NZ; runs the OneAnswer multi-fund range.
See all funds from ANZ Investments →Head-to-head
Compare ANZ Investments OneAnswer Conservative Balanced Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Diversified funds
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the ANZ Investments OneAnswer Conservative Balanced Fund?
ANZ Investments OneAnswer Conservative Balanced Fund is managed by ANZ Investments. Asset-management arm of ANZ NZ; runs the OneAnswer multi-fund range.
What asset class is the ANZ Investments OneAnswer Conservative Balanced Fund?
It is a diversified managed fund. The fund has a conservative balanced risk profile. Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
What are the fees for the ANZ Investments OneAnswer Conservative Balanced Fund?
The annual fund charge for the ANZ Investments OneAnswer Conservative Balanced Fund is 0.75% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the ANZ Investments OneAnswer Conservative Balanced Fund?
The risk indicator is 4/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the ANZ Investments OneAnswer Conservative Balanced Fund a PIE fund?
Yes. The ANZ Investments OneAnswer Conservative Balanced Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the ANZ Investments OneAnswer Conservative Balanced Fund?
Fund size (assets under management) is NZ$529 million as at the latest Quarterly Fund Update. Asset mix is approximately 23% growth assets and 77% income assets.
What does the ANZ Investments OneAnswer Conservative Balanced Fund invest in?
The latest published top holdings are: FNMA 30Yr Conventional 150534 0.00 TBA (1.58%), Nvidia Corporation (0.94%), NZ Government Stock 15/05/2035 4.50 (0.90%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the ANZ Investments OneAnswer Conservative Balanced Fund?
The ANZ Investments OneAnswer Conservative Balanced Fund is available via InvestNow, ANZ Investments directly. Always read the current Product Disclosure Statement before investing.