Question
What are the disadvantages of a balanced fund?
Google's "People also ask" panel surfaces this question on the search results page for 15 of the 250 NZ retail managed funds in our coverage. The page below lists those funds and surfaces fund-specific answers drawn from each fund's filed PDS, Fund Update and FMA Disclose data.
These pages are not personal financial advice. Where a fund's answer is shown, it is generated mechanically from that fund's filed data — it does not constitute a recommendation. For guidance specific to your situation, consult an authorised financial adviser.
15 funds where Google surfaces this question
Ordered by annual fund charge from lowest. Funds without a published fee appear last.
| Fund | Manager | Category | Annual fund charge |
|---|---|---|---|
| Kernel Balanced Fund | Kernel | Diversified | 0.25% |
| Simplicity Balanced Investment Fund | Simplicity | Diversified | 0.25% |
| Foundation Series Balanced Fund | Foundation Series | Diversified | 0.36% |
| Coolabah Active Composite Bond PIE Fund | Coolabah | International FI | 0.76% |
| AMP Balanced Managed Fund | AMP | Diversified | 0.81% |
| Booster Wealth Balanced Fund | Booster | Diversified | 0.83% |
| ANZ Investments OneAnswer Balanced Fund | ANZ Investments | Diversified | 0.90% |
| ANZ Investments OneAnswer Balanced Growth Fund | ANZ Investments | Diversified | 0.95% |
| Lifetime Balanced Fund | Lifetime | Diversified | 0.99% |
| Summer Balanced Selection | Summer | Diversified | 1.02% |
| Harbour Balanced Growth Fund | Harbour | Diversified | 1.04% |
| Milford Balanced Fund | Milford | Diversified | 1.05% |
| Octagon Balanced Fund | Octagon | Diversified | 1.17% |
| Mercer Responsible Balanced Fund | Mercer | Diversified | 1.25% |
| Booster Socially Responsible Balanced Fund | Booster | Diversified | 1.33% |
Fund-specific answers
Where we've already produced an answer for a fund whose Google PAA includes this question, that answer is shown below — grounded in the fund's own filed data. Not personal financial advice.
ANZ Investments OneAnswer Balanced Growth Fund
What is the average return on a balanced fund?
Average returns vary significantly across balanced funds and time periods. The ANZ Investments OneAnswer Balanced Growth Fund delivered 4.57% p.a. after fees and before tax over the 5-year period to the latest QFU; the peer-cohort average fee for similar funds is 1.23% p.a., compared to this fund's 0.95% p.a. annual charge. You can view comparable funds and their returns on the FMA Disclose register.
View ANZ Investments OneAnswer Balanced Growth Fund pageLifetime Balanced Fund
What is the average return on a balanced fund?
Past returns vary significantly by fund manager, investment period, and market conditions; we do not publish forward-looking return estimates. Historical performance data for Lifetime Balanced Fund is available via the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ and the manager's website at https://lifetimeincome.co.nz.
View Lifetime Balanced Fund pageHarbour Balanced Growth Fund
What's the difference between a growth fund and a balanced fund?
A growth fund typically allocates a higher proportion to growth assets (shares and property) to pursue capital appreciation, while a balanced fund like Harbour Balanced Growth Fund holds a more moderate mix—in this case approximately 78.34% growth assets and 21.66% income assets—to balance growth potential with income stability. The balanced approach generally carries a lower risk indicator on the FMA standardised scale; Harbour's risk indicator is 4/7.
View Harbour Balanced Growth Fund pageMilford Balanced Fund
What is the average return on a balanced fund?
Returns vary significantly by fund, market conditions, and time period; there is no single "average" across the category. Milford Balanced Fund delivered a 5-year return after fees and before tax of 4.74% p.a. as at the latest QFU. For comparison with other balanced funds, see our fund comparison tool and the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/.
View Milford Balanced Fund pageOctagon Balanced Fund
What is the average return on a balanced fund?
Octagon Balanced Fund returned 3.83% p.a. after fees and before tax over the 5-year period as at the latest QFU; however, past performance is not a guarantee of future results. For peer-cohort return data, refer to the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/.
View Octagon Balanced Fund pageOther questions people ask about NZ managed funds
Source: top-15 questions from the People-also-ask panel across 250-fund Google SERP sweep run 2026-05-25. Methodology: /methodology.