SBS Wealth Balanced Strategy
SBS Wealth Balanced Strategy is a diversified managed fund from SBS Wealth with a fund size of NZ$17.1 million and an annual fund charge of 1.03%, as shown on Sorted Smart Investor on 22 May 2026; its 1-year return after fees and tax was 6.99% for the year to 31 March 2026, per its quarterly fund update filed on FMA Disclose.
Managed by SBS WealthFund data last refreshed · holdings as filed to 31/03/2026
SBS Wealth Balanced Strategy is a diversified managed fund operated by SBS Wealth; PIE-structured; FMA risk indicator 4/7. Headline terms: annual fund charge 1.03% · minimum investment NZ$500. Compared with 67 other same-category funds on this site, the 1.03% annual fund charge sits in line with the same-category median of 0.99%.
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 ourPIR guideandPIE tax basicsfor the full picture, or use thePIR calculatorto confirm your rate.
Annual fund charge
1.03%
vs peer avg 1.10%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 3.77%
Fund size
NZ$17.1m
53% growth · 47% income
The Strategy aims to achieve medium capital growth and returns over the medium to long term, with an emphasis on balancing capital growth with stable returns. The Strategy invests into the following SBS Wealth funds: 45% into the World Equity Portfolio; 15% into the Australasian Equity Portfolio; 25% into the World Bond Portfolio; and 15% into the New Zealand Bond Portfolio.
How SBS Wealth Balanced Strategy differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Top 3 holdings
- Dimensional Global Sustainability PIE Fund (NZD Hedged) (21.3%) · Harbour NZ Core Fixed Interest Fund (14.4%) · IShares Global Aggregate Bond ESG UCITS ETF NZD Hedged (11.2%)
- Currency policy
- International fixed interest exposure is 100% hedged back to NZD; international equities (other than Australian equities) are 50% hedged back to NZD; all other offshore assets (Australian equities, Emerging Markets equit…
Key facts
Fund start date
27 June 2024
Min. investment
NZ$500
Tax structure
PIE
Capped at your PIR (max 28%)
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Cash and cash equivalents | 5% | 0% | 15% |
| New Zealand fixed interest | 14.25% | 5% | 25% |
| International fixed interest | 23.75% | 15% | 35% |
| Australasian Equities | 14.25% | 5% | 25% |
| International Equities | 42.75% | 30% | 60% |
Responsible-investment approach
Guided by stewardship principles of 'driving change over time, not over night' and 'focus on opportunities, not just exclusions'. Favours investments with lower carbon intensity or lower fossil fuel involvement and prefers companies with greater carbon solutions involvement.
Derivatives policy
Derivatives may be used as a risk management tool (e.g. to hedge currency risk) but not to leverage any Fund or increase portfolio risk beyond directly held securities; any derivative positions must be backed by physically held positions and the Supervisor must be advised of any decision to use derivatives.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- SBS Wealth acknowledges it is wholly owned by SBS Bank, which also receives the Funds' cash deposits, meaning the manager's parent company benefits directly from how Fund liquidity is invested.
- Trustees Executors Limited holds four simultaneous roles — Supervisor, Administration Manager, Registrar, and Custodian — which SBS Wealth discloses may create conflicts between its oversight duties and its service-provider interests.
- Trustees Executors Limited is entitled to reimbursement of expenses and GST on its fees charged to the Funds, meaning investors bear costs from a related party performing multiple functions.
- Each Fund's cash is held primarily in unsecured deposits with ANZ Bank New Zealand Limited, concentrating liquidity risk with a single third-party bank counterparty.
Generated 2026-05-28 from SBS Wealth Investment Funds OMI (dated 2025-11-10). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
Trustees Executors Limited
Auditor
KPMG
Custodian
Apex Custodian Nominees (New Zealand) Limited (nominated by Trustees Executors Limited, which retains primary responsibility for custody)
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- SBS Wealth is a wholly owned subsidiary of SBS Bank, meaning the manager has a parent relationship with a major bank that also provides deposit services to the Funds, creating a potential conflict between the manager's interests and those of investors.
- Some partners and staff of KPMG (the auditor) may hold units in the Funds in their personal capacity, which could represent a potential conflict of interest for the auditor.
- Trustees Executors Limited acts simultaneously as Supervisor, Administration Manager, Registrar, and (through its nominee Apex Custodian Nominees (NZ) Limited) Custodian, concentrating multiple roles in a single entity which may create conflicts between its supervisory and service-provider functions.
How this fund compares to peers
Mechanical comparison vs the 68 other diversified funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
SBS Wealth Balanced Strategy: 1.03% per annum. Diversified median across 68 funds:0.99%. This fund is 0.04 percentage points above the category median.
Annual fund charge
1.03%
Category median: 0.99%
Mid-pack — cheaper than 42% of peers
Fund size
NZ$17.1m
Category median: NZ$45.7m
35th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$504
Compounded charge over 5 years (excl. returns)
$19 more than peer median
Read the full fee-vs-peers breakdown →
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.
Complete portfolio
This fund files 84 holdings with the FMA as at 31/03/2026. The largest 25 are shown.
Top 10 concentration: 68.9% of net assets.
Direct disclosed holdings only — a floor on exposure, not a total. Filings list wrappers and securities together, so a fund holding another fund shows no look-through here. Disclosed rows account for 100.3% of net assets. Percentages are of this fund's net assets and are safe to sum within this fund only.
| Holding | % of fund | |
|---|---|---|
| Dimensional Global Sustainability PIE Fund (NZD Hedged) | 21.34% | |
| Harbour NZ Core Fixed Interest Fund | 14.37% | |
| iShares Global Aggregate Bond ESG UCITS ETF NZD Hedged | 11.16% | |
| Hunter Global Fixed Interest Fund | 4.39% | |
| Dimensional Two-Year Sustainability Fixed Interest PIE Fund | 4.21% | |
| Dimensional Global Bond Sustainability PIE Fund | 4.07% | |
| Schroder Global Emerging Markets Fund | 3.07% | |
| Dimensional Australian Sustainability PIE Fund | 2.72% | |
| Munro Global Growth Climate Leaders PIE Fund | 1.84% | |
| Kernel Global Infrastructure (NZD Hedged) Fund | 1.69% | |
| Fisher & Paykel Healthcare Ltd | 1.36% | |
| NVIDIA Corp | 1.20% | |
| Contact Energy Ltd | 0.98% | |
| Meridian Energy Limited | 0.94% | |
| Infratil Ltd | 0.93% | |
| iShares Healthcare Innovation UCITS ETF | 0.90% | |
| Alphabet Inc Class A | 0.89% | |
| iShares Digitalisation UCITS ETF | 0.86% | |
| Apple Inc | 0.84% | |
| iShares Automation & Robotics UCITS ETF | 0.77% | |
| Auckland International Airport Ltd | 0.75% | |
| Amazon.Com Inc | 0.67% | |
| JPMorgan Chase & Co | 0.64% | |
| Ebos Group Ltd | 0.64% | |
| Wal-Mart Stores Inc | 0.59% |
Every NZ managed fund must file its complete portfolio with the FMA each quarter. Where a line is itself a fund, trust or ETF, the securities inside it are not broken out here.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
DGDimensional Global Sustainability PIE Fund (NZD Hedged) | 21.34% |
HNHarbour NZ Core Fixed Interest Fund | 14.37% |
IGIShares Global Aggregate Bond ESG UCITS ETF NZD Hedged | 11.16% |
HGHunter Global Fixed Interest Fund | 4.39% |
DTDimensional Two-Year Sustainability Fixed Interest PIE Fund | 4.21% |
DGDimensional Global Bond Sustainability PIE Fund | 4.07% |
$Cash Deposit (ANZ Bank) | 3.93% |
SGSchroder Global Emerging Markets Fund | 3.07% |
DADimensional Australian Sustainability PIE Fund | 2.72% |
MGMunro Global Growth Climate Leaders PIE Fund | 1.84% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- BALANCED STRATEGY (FND49639) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.43 KB
- SBS Wealth Investment Funds Product Disclosure Statement 112025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 230.57 KB
- INVESTMENT UPDATE Balanced Strategy 31032026 .pdf The quarterly update published by the provider PDF, 300.47 KB
- SBS Wealth Investment Funds Statementof Investment Policyand Objectives 112025.pdf The statement of investment policy and objectives for each of the SBS Wealth Investment Funds PDF, 320.30 KB
- Lifestages Investment Funds Noteonstructure.DOCX.pdf Lifestages Investment Funds - Note on structure PDF, 194.79 KB
- SBS Wealth Investment Funds Other Material Information 112025.pdf This document contains additional material information about the SBS Wealth Investment Funds and should be read alongside the PDS. It
- Lifestages Investment Funds Consolidated Establishment Deeds 1 November 2016.pdf Consolidated Establishment Deeds for each of the Lifestages Investment Funds PDF, 3.02 MB
- SBS Wealth Liquidity Risk Management Policy 2024.pdf SBS Wealth Liquidity Risk Management Policy 2024 PDF, 1.69 MB
- Lifestages Investment Funds Consolidated Master Trust Deed 1 November 2016.pdf Consolidated Master Trust Deed for the Lifestages Investment Funds PDF, 705.20 KB
- SBS Wealth Investment Funds Statementof Investment Policyand Objectives 112025.pdf Statement of investment policy and objectives PDF, 320.30 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 SBS Wealth
SBS Bank-branded retail managed-fund range issued by FundRock NZ; multi-asset strategies plus Australasian / world equity and bond portfolios.
SBS Wealth has 8 retail funds in our coverage across Diversified, Australasian Equities, International Equities, NZ Fixed Interest and International FI strategies, with annual fund charges from 0.77% to 1.22% a year.
Parent: SBS Bank — SBS Wealth is the retail managed-fund range of SBS Bank (Southland Building Society); funds are issued by FundRock NZ.
Based in Invercargill.
Head-to-head
Compare SBS Wealth Balanced Strategy with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Diversified funds
Same manager
Other funds by SBS Wealth
- SBS Wealth World Equity PortfolioInternational Equities
- SBS Wealth World Bond PortfolioInternational FI
- SBS Wealth Australasian Equity PortfolioAustralasian Equities
FMA risk band
Same risk band (4/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
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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 SBS Wealth Balanced Strategy?
SBS Wealth Balanced Strategy is managed by SBS Wealth (parent: SBS Bank). SBS Bank-branded retail managed-fund range issued by FundRock NZ; multi-asset strategies plus Australasian / world equity and bond portfolios.
What asset class is the SBS Wealth Balanced Strategy?
It is a diversified managed fund. The fund has a 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 SBS Wealth Balanced Strategy?
The annual fund charge for the SBS Wealth Balanced Strategy is 1.03% 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 SBS Wealth Balanced Strategy?
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 SBS Wealth Balanced Strategy a PIE fund?
Yes. The SBS Wealth Balanced Strategy 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 SBS Wealth Balanced Strategy?
Fund size (assets under management) is NZ$17 million as at the latest Quarterly Fund Update. Asset mix is approximately 53% growth assets and 47% income assets.
What does the SBS Wealth Balanced Strategy invest in?
The latest published top holdings are: Dimensional Global Sustainability PIE Fund (NZD Hedged) (21.34%), Harbour NZ Core Fixed Interest Fund (14.37%), IShares Global Aggregate Bond ESG UCITS ETF NZD Hedged (11.16%). 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 SBS Wealth Balanced Strategy?
The SBS Wealth Balanced Strategy is available via SBS Wealth directly. Always read the current Product Disclosure Statement before investing.