Simplicity Conservative Investment Fund
Managed by Simplicity 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
0.25%
vs peer avg 0.89%
Risk indicator
3/7
1 = lower risk · 7 = higher risk
5-year return p.a.
1.78%
peer avg 2.19%
Fund size
NZ$168.8m
23% growth · 77% income
The Conservative Fund provides investors with a limited exposure to growth assets, but most of its investments are in income assets.
Key facts
Fund start date
3 April 2017
Min. investment
NZ$1
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
0.25%
Category median: 0.99%
Cheaper than 94% of peers
5y return p.a. (after fees)
+1.78%
Category median: +3.27%
Lower than most peers (bottom 20% over period)
Fund size
NZ$168.8m
Category median: NZ$57.5m
71th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$124
Compounded charge over 5 years (excl. returns)
$361 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 |
|---|---|
| $ Cash at Bank | 10.45% |
 Westpac FRN 6 July 2026 | 2.54% |
| SL Simplicity Living Ltd Ordinary Shares | 1.87% |
 Kiwibank FRN 13 June 2028 | 1.70% |
| Kiwibank FRN 15 March 2028 | 1.38% |
| HN Housing NZ 2.247% 5 October 2026 | 1.10% |
| NZ New Zealand govt bond 3.5% 14 April 2033 | 1.03% |
 NVIDIA Corp | 0.91% |
| IB IBRD bond 4.25% 23 July 2032 | 0.85% |
| TT Tax Traders CP 26 June 2026 | 0.82% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- CONSERVATIVE INVESTMENT FUND (FND4543) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 4.89 KB
- Product Disclosure Statement Simplicity Investment Funds 1 September 2025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 168.18 KB
- Simplicity Conservative Investment Fund update 31 March 2026.pdf The quarterly update published by the provider PDF, 539.49 KB
- Simplicity Wholesale Property Fund OMI 30 June 2025.pdf Wholesale Property Fund other material information 30 June 2025 PDF, 322.79 KB
- Letterto FMA (FMC Exemption Notice 2020)18 August 20.pdf Financial Markets Conduct (Financial Reporting and Other Relief—COVID-19) Exemption Notice 2020 (Exemption Notice) PDF, 239.41 KB
- Other Material Information Simplicity Investment Funds 1 September 2025.pdf Other Material Information PDF, 4.07 MB
- Simplicity Investment Funds Financial Statements&Annual Report 31 March 2017.pdf Letter in lieu of annual report and financial statements PDF, 227.39 KB
- Simplicity Private Equity Valuation Policy Final 250130 v 5.pdf Simplicity Private Equity Valuation Policy PDF, 700.81 KB
- Simplicity Investment Funds 31 March 2026 Register Entry Additional Information First Home Mortgage Fund.pdf Simplicity Investment Funds- 31 December 2025 - Register Entry Additional Information - Fir
- Statement of Investment Policy and Objectives Simplicity Investment Funds 1 May 2026.pdf Statement of investment policy and objectives PDF, 395.98 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 Simplicity
Not-for-profit-aligned manager offering low-fee diversified and single-asset PIE funds; donates 15% of fees to charity.
See all funds from Simplicity →Head-to-head
Compare Simplicity Conservative Investment 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 Simplicity Conservative Investment Fund?
Simplicity Conservative Investment Fund is managed by Simplicity. Not-for-profit-aligned manager offering low-fee diversified and single-asset PIE funds; donates 15% of fees to charity.
What asset class is the Simplicity Conservative Investment Fund?
It is a diversified managed fund. The fund has a conservative 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 Simplicity Conservative Investment Fund?
The annual fund charge for the Simplicity Conservative Investment Fund is 0.25% 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 Simplicity Conservative Investment Fund?
The risk indicator is 3/7 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 Simplicity Conservative Investment Fund a PIE fund?
Yes. The Simplicity Conservative Investment 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 Simplicity Conservative Investment Fund?
Fund size (assets under management) is NZ$169 million as at the latest Quarterly Fund Update. Asset mix is approximately 23% growth assets and 77% income assets.
What does the Simplicity Conservative Investment Fund invest in?
The latest published top holdings are: Cash at Bank (10.45%), Westpac FRN 6 July 2026 (2.54%), Simplicity Living Ltd Ordinary Shares (1.87%). 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 Simplicity Conservative Investment Fund?
The Simplicity Conservative Investment Fund is available via Simplicity directly. Always read the current Product Disclosure Statement before investing.