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This fund aims for a steady investment return over the medium to longer term without too many ups and downs. The fund does this by investing across a range asset classes with exposure to shares for growth complemented by exposure to bonds and alternatives to reduce volatility.
Growth Fund Strategic Asset Allocation
Risk Indicator (volatility)
Target Asset Allocation
This number indicates the relative 'risk' level of this fund based on the types of assets it is invested in, ranging from level 1 (least risky) to 7 (most risky).
| Risk category | Description of volatility |
| 1 | Very low |
| 2 | Low |
| 3 | Medium |
| 4 | Medium to High |
| 5 | High |
| 6 | Very high |
| 7 | Extremely high |
The risk indicators are calculated using returns of the funds, the returns of the fund’s market index or a combination of both, for the previous five years. Index returns or a mix are used if the fund has existed for less than five years. All Managers are required to use the same methodology so you can compare the risk of different funds if you are researching more than one manager.
Hear from Alan Clarke, Portfolio Manager. In this video, he explains what an average day in his job looks like and how The Nikko AM Balanced Fund works.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -1.39% | -5.48% | 5.44% | 4.12% | 4.85% |
| Appropriate Market Index (AMI)2 | -1.10% | -4.00% | 6.49% | 5.79% | 6.22% |
AMI (appropriate market index) is a theoretical portfolio with similar underlying assets as the fund. This allows investors to see a comparison of how the value of those assets have changed in the market relative to the fund.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | -1.39% | -5.48% | 5.25% | 4.05% | 4.82% |
| Appropriate Market Index (AMI)2 | -1.10% | -4.00% | 6.49% | 5.79% | 6.22% |
AMI (appropriate market index) is a theoretical portfolio with similar underlying assets as the fund. This allows investors to see a comparison of how the value of those assets have changed in the market relative to the fund.
| Security Name | Percentage |
|---|---|
| Jpm Global Select Equity X Acc Usd | 12.23% |
| United States Treasury 030725 0.00 Gb | 2.09% |
| Infratil Limited | 1.68% |
| Contact Energy Limited | 1.53% |
| Fisher & Paykel Healthcare | 1.41% |
| Microsoft Corp | 1.38% |
| Amazon Com Inc | 1.22% |
| Kiwi Property Group Limited | 1.16% |
| Meridian Energy Ltd NPV | 1.09% |
| Goodman Property Trust | 1.07% |
Commentary
As of 30 April 2025
Market Overview
Fund Commentary
Returns for Balanced Fund investors were weak in April, with fund performance now negative year-to-date, but still up mid-single digits on a rolling 1-year basis. All of the ‘growth asset classes’ (equities and listed property) were down in absolute terms for the month. Bonds acted as something of a buffer as hoped in periods of market stress which muted some of the weakness in equity markets. In terms of relative performance, the global equity and global bond funds were behind benchmark. Both global equity ‘growth’ style managers (WCM and NAM-Europe) outperformed, however the two ‘style-neutral’ managers (JPM and Royal London) both lagged the benchmark. The top contributors to performance were 3i Group, Saab, Constellation Software and Wolters Kluwer. Notably, all four companies are listed outside the US. The global bond fund’s underperformance was driven by Japanese and US swap positions and an overweight to securitised securities. Resumed was the standout name within the local equity portfolios after delivering a good earnings report, and also confirmation they would be exempt from US tariff duties. The domestic bond funds outperformed - thanks to the long duration positioning which benefited from the fall in interest rates.