SBS Wealth Growth Strategy is a diversified managed fund operated by SBS Wealth; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 1.17%. Compared with 66 other same-category funds on this site, the 1.17% annual fund charge sits above 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 our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.17%
vs peer avg 0.85%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
7.39%
peer avg 5.65%
Fund size
NZ$476.9m
98% growth · 2% income
The fund aims to provide investors with capital growth over the long-term, by investing primarily in a broad spread of Australasian and international equities, with a small amount held in cash.
How SBS Wealth Growth 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) (36.7%) · Schroder Global Emerging Markets Fund (5.9%) · Dimensional Australian Sustainability PIE Fund (4.9%)
- Currency policy
- International fixed interest exposure is 100% hedged back to NZD (generally via a NZD hedged underlying fund). International equities (other than Australian equities) are 50% hedged back to NZD via a combination of hedge…
Key facts
Fund start date
14 October 2015
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 | 2% | 1% | 10% |
| Australasian Equities | 24% | 10% | 40% |
| International Equities | 74% | 50% | 90% |
Responsible-investment approach
Responsible investment including ESG considerations is taken into account. Excluded investments include controversial weapons, nuclear weapons, production of tobacco/tobacco-based products/nicotine alternatives, whale meat processing, recreational cannabis, and adult entertainment. Minimised investments include conventional military weapons, civilian firearms, gambling and casinos, palm oil, and alcohol.
Exclusions
- Controversial weapons
- Nuclear weapons
- Production of tobacco, tobacco-based products, and nicotine alternatives
- Whale meat processing
- Recreational cannabis
- Adult entertainment
Derivatives policy
Derivatives may be used as a risk management tool to hedge undesirable portfolio exposures (e.g. currency risk) and are not expected to be used in the normal course of business. Derivatives may not be used to leverage any Fund and any derivative positions must be backed by physically held positions; notional face value may not exceed 100% of the Fund's net market value.
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 discloses that the Income Fund and Cash Fund hold unsecured deposits with SBS Bank, their ultimate parent, meaning a default by SBS Bank could materially reduce those funds' assets and performance.
- SBS Wealth may pay introduction fees to third-party distributors using revenue collected from annual fund charges deducted directly from members' investments.
- Trustees Executors Limited acts as supervisor, administration manager, and registrar of the Scheme simultaneously, with fees capped at standard statutory trustee corporation rates and expenses reimbursed from the Scheme.
- Some KPMG partners and staff personally hold units in the Scheme; SBS Wealth states KPMG remains independent, but this personal interest in the Scheme has been disclosed as a potential conflict.
Generated 2026-05-28 from SBS Wealth KiwiSaver Scheme OMI (dated 2025-11-06). 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)
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- The Income Fund and Cash Fund can have exposure to SBS Bank (the ultimate parent of SBS Wealth Limited) through investments in unsecured deposits, creating a related-party conflict where any default by SBS Bank could materially affect fund assets and performance.
- SBS Wealth may pay third-party distributors a fee for introducing members to the Scheme, funded from the revenue received from annual fund charges deducted from members' investments.
- Some partners and staff of the auditor KPMG may hold units in the Scheme in their personal capacity, though KPMG is stated to be independent of SBS Wealth and the Scheme.
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
1.17%
Category median: 0.99%
Mid-pack — cheaper than 32% of peers
5y return p.a. (after fees)
+7.39%
Category median: +3.27%
Higher than 95% of peers
Fund size
NZ$476.9m
Category median: NZ$57.5m
Top 19% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$571
Compounded charge over 5 years (excl. returns)
$86 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.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| DG Dimensional Global Sustainability PIE Fund (NZD Hedged) | 36.68% |
| SG Schroder Global Emerging Markets Fund | 5.91% |
| DA Dimensional Australian Sustainability PIE Fund | 4.88% |
| MG Munro Global Growth Climate Leaders PIE Fund | 3.36% |
| KG Kernel Global Infrastructure (NZD Hedged) Fund | 3.17% |
| $ Cash Deposit (ANZ Bank) | 2.17% |
 Fisher & Paykel Healthcare Ltd | 1.80% |
 Nvidia Corp | 1.66% |
 Contact Energy Ltd | 1.57% |
 Infratil Ltd | 1.57% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- SBS Wealth Kiwi Saver Scheme Product Disclosure Statement 112025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 411.36 KB
- FUND UPDATE High Growth Fund 31032026 .pdf The quarterly update published by the provider PDF, 268.04 KB
- SBS Wealth Kiwi Saver Scheme Other Material Information 112025.pdf SBS Wealth KiwiSaver Scheme Other Material Information (OMI) PDF, 370.99 KB
- SBS Wealth Kiwi Saver Scheme SIPO 112025.pdf SBS Wealth KiwiSaver Scheme Statement of Investment Policy & Objectives (SIPO) PDF, 387.21 KB
- Deedof Amendment Lifestages Kiwi Saver Scheme 02092024.pdf Lifestages KiwiSaver Scheme Trust Deed Amendment PDF, 553.53 KB
- SBS Wealth Liquidity Risk Management Policy 2024.pdf SBS Wealth Liquidity Risk Management Policy 2024 PDF, 1.69 MB
- SBS Wealth Kiwi Saver Scheme SIPO 112025.pdf Statement of investment policy and objectives PDF, 387.21 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.
Parent: SBS Bank
See all funds from SBS Wealth →Head-to-head
Compare SBS Wealth Growth 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 High Growth StrategyDiversified
- SBS Wealth World Equity PortfolioInternational Equities
- SBS Wealth World Bond PortfolioInternational FI
FMA risk band
Same risk band (5/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 5 funds →Explore this with AI
Open a fresh AI chat pre-loaded with this page — ask it to summarise, explain, or compare, and it can read ManagedFundsNZ's underlying data directly.
AI & integrations
Use this fund inside the tools you already use
Every fund on ManagedFundsNZ ships in three formats so AI assistants and data tools can consume it without scraping: a canonical HTML page, a plain Markdown twin, and a structured JSON twin. Citation back to the canonical URL is required; full reuse policy at /llms-policy.txt.
- Canonical (HTML)managedfunds.nz/funds/sbs-wealth/growth-strategy/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/sbs-wealth/growth-strategy/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/sbs-wealth/growth-strategy/data.jsonMachine-parseable.
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 Growth Strategy?
SBS Wealth Growth 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 Growth Strategy?
It is a diversified managed fund. The fund has a growth 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 Growth Strategy?
The annual fund charge for the SBS Wealth Growth Strategy is 1.17% 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 Growth Strategy?
The risk indicator is 5/7 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 Growth Strategy a PIE fund?
Yes. The SBS Wealth Growth 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 Growth Strategy?
Fund size (assets under management) is NZ$477 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the SBS Wealth Growth Strategy invest in?
The latest published top holdings are: Dimensional Global Sustainability PIE Fund (NZD Hedged) (36.68%), Schroder Global Emerging Markets Fund (5.91%), Dimensional Australian Sustainability PIE Fund (4.88%). 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 Growth Strategy?
The SBS Wealth Growth Strategy is available via SBS Wealth directly. Always read the current Product Disclosure Statement before investing.