SIMPLICITY KIWISAVER SCHEME
Default Fund
Recent material changes
Diffs we track across PDS, SIPO, holdings + fee history
- View holdings changes →HoldingsMAJORMar 2026Top-10 turnover: 1 new, 1 droppedQuarter-on-quarter (Dec 2025 → Mar 2026)
About this balanced fund
The Default Fund is a balanced KiwiSaver scheme fund offered by Simplicity within the SIMPLICITY KIWISAVER SCHEME. It holds 59% in growth assets and 41% in income assets, positioning it as a moderate-allocation option across the provider's fund range. As of 31 March 2026, the fund manages $673.3 million in assets for 54,209 members.
The fund charges an annual fee of 0.25%, which is materially lower than the peer-median fee of 0.86% for balanced KiwiSaver scheme funds in the same cohort. Five-year average annual returns are not reported for this fund. This fee advantage may compound over longer investment periods, though cost alone does not determine overall outcomes.
A risk indicator of 1 out of 7 on the Financial Markets Authority scale places this fund at the conservative end of the risk spectrum, typically considered appropriate for members with lower risk tolerance or shorter time horizons. The balanced asset mix aims to provide some growth potential alongside capital stability. Past performance is not a reliable indicator of future returns.
Holdings
As of 2026-03-31 Default Fund reports an asset mix of 59% growth assets (shares, listed property, alternatives) and 41% income assets (cash, bonds, fixed interest). This split is typical for a balanced fund. The full asset-mix breakdown including overseas vs domestic and listed vs unlisted exposure appears in the asset-allocation chart below.
Performance
Default Fund has 2 quarters of QFU data on file (2025-12-31 to 2026-03-31). Past performance is not a reliable indicator of future returns.
Fees
At 0.25% in annual charges, Default Fund's fee sits 0.61 percentage points below the median for Balanced KiwiSaver scheme funds in our coverage (median 0.86%). 1 of the 76 funds in this cohort charge a lower annual fee (this fund ranks 2 cheapest of 76). Fee level is a mechanical signal — does not factor in returns, risk, or manager skill.
Risk and suitability
Default Fund carries a risk indicator of 1/7 on the FMA risk scale. Risk indicator 1-2 funds are typically considered for members with a short investment horizon (under 3 years) or those who prioritise capital stability over growth. FundCompare does not provide personalised advice; consult a licensed financial adviser to understand whether this risk profile fits your circumstances.
Returns
null%
Five Year Average Return
Returns (green) show the fund’s growth over the five years to 31 March 2026, after fees and taxes. Compare these results with the average Balanced KiwiSaver scheme fund (light green).
Fees
0.25%
One Year Average Fees
Fees shown here (blue) represent what you would pay over a year if you had $30,000 invested in this fund. Compare them with the average fees for Balanced KiwiSaver scheme funds (light blue).
Asset Mix
The fund’s mix of growth assets (shares, property) and income assets (bonds, cash) as of 31 March 2026. The average mix forbalanced KiwiSaver scheme funds is shown in light blue.
Key Takeaways
Here’s the provider’s overview of the managed fund:
“ The Default Fund provides investors with an exposure to a mix of growth and income assets. ”
When can I get my money out?
This is a fund within a KiwiSaver scheme, which means generally you can withdraw only to purchase a first home, after the age of 65 or in cases of financial hardship.
Asset mix
This fund's asset mix
Average for Balanced funds
Your investment mix shapes your outcome
The balance of assets you choose — your asset allocation, has the biggest impact on how your investments perform and how much their value may rise or fall along the way. Selecting that balance is crucial. By adjusting the proportion of growth-oriented investments you include, you’re effectively setting your preferred level of risk. Generally, taking on more risk can increase the potential for higher returns, but there’s never a guarantee — that’s the nature of risk. To find an allocation suited to your personal circumstances (sometimes called your risk profile), you can start with an investor risk questionnaire or a KiwiSaver-specific guide.
Top 10 investments
These assets make up 20.25% of this fund.
| Asset | Asset Class | Type | Country | % of Fund | |
|---|---|---|---|---|---|
| Cash at Bank | 3.25 | ||||
 | NVIDIA Corp | 2.84 | |||
 | Fisher & Paykel Healthcare Ltd | 2.77 | |||
 | Apple Inc | 2.55 | |||
 | Microsoft Corporation | 1.91 | |||
 | Auckland International Airport Ltd | 1.63 | |||
 | Infratil Ltd | 1.52 | |||
 | Amazon.Com Inc | 1.40 | |||
 | Westpac NZ FRN 6 July 2026 | 1.22 | |||
 | Alphabet Inc Class A | 1.16 |
Top-10 holdings changes
31 Dec 2025 → 31 Mar 2026
Westpac NZ FRN 6 July 20261.22%
Broadcom Incwas 1.03%
Infratil Ltd1.37% → 1.52% (+0.15 pp)
Fisher & Paykel Healthcare Ltd2.63% → 2.77% (+0.14 pp)
- Cash at Bank4.43% → 3.25% (-1.18 pp)
Microsoft Corporation2.31% → 1.91% (-0.40 pp)
Fees
0.25%
This Fund
0.92%
Average Balanced Kiwisaver funds
The blue segment shows the annual fees you’d pay if you invested $30,000 in this fund. The grey segment represents the typical yearly fees for an average Balanced KiwiSaver scheme fund, so you can compare them directly.
Smaller Fees, Bigger Potential
When it comes to investing, spending more doesn’t automatically lead to stronger results. In fact, higher fund fees can often eat into your returns. Remember, what you keep is calculated after fees and taxes are deducted. Because no one can predict how any fund will perform, it’s generally wise to look for options with lower costs whenever you can.
Fees breakdown
| Fee Type | % Over a year | Amount paid on a 30k balance |
|---|---|---|
| administration Administration fee | — | — |
| total Total fund charges | 0.25% | — |
Returns
null%
This Fund
4.31%
Average Balanced Kiwisaver funds
Over the past five years, this fund delivered the average annual return shown here (in green) to investors, after fees and taxes (28% PIR) were applied. For comparison, the average return over the same period for all Balanced KiwiSaver scheme funds is shown in grey.
Returns: Reflecting the Past
Investing is about seeking returns, but the figures shown here represent historical performance—they cannot be relied upon to continue in the future. Selecting a fund solely based on past performance is not advisable. A well-informed decision should consider factors such as an appropriate investment mix for your goals and reasonable fees.
Risks
Risk indicator
This indicator reflects how much the investment’s value has fluctuated over time. It is calculated from the fund’s five-year performance, or from a comparable market index if the fund has a shorter history.
Additional details
Manager information
| Name | SIMPLICITY NZ LIMITED |
| Type | NZ Limited Company |
| Website | simplicity.kiwi |
| NZBN | 9429041767092 |
| FSP Number | FSP465606 |
Fund information
| Asset liquidity ratio | 93.10% |
| Total value of fund | $673343320 |
| Debt ratio | 0.02% |
Fee + return history
View detailed history →Quarterly fees and after-tax returns recorded against this fund since inception. Sourced from FMA Disclose Quarterly Fund Updates. The detailed view shows the full chart + per-quarter data table.
PDS changes
View detailed PDS history →Material changes to the Product Disclosure Statement over time — fee adjustments, asset-allocation shifts, scheme-rule amendments. Diff against the previous PDS shown side-by-side in the detailed view.
Holdings changes
View detailed holdings diff →Top-10-holdings additions, removals, and weight changes across quarters. Shows the manager's actual portfolio decisions over time, sourced from the fund's Quarterly Fund Update.
SIPO changes
View detailed SIPO history →Statement of Investment Policy and Objectives revisions — investment objective rewrites, asset-class target shifts, ESG policy changes, derivatives policy changes. The detailed view diffs against prior SIPO versions.
AI · API · Markdown
Machine-readable surfaceEvery fund page on FundCompare ships with structured JSON and a plain-markdown summary alongside the HTML — so LLMs, MCP clients, and analysts can cite the same regulator-sourced data the page renders. Source documents come from FMA Disclose, IRD, and Sorted Fund Finder.
Identifiers
- FMA fund code
- FND35073
- FSP number
- FSP465606
- NZBN
- 9429041767092
- Provider
- Simplicity
- Scheme
- SIMPLICITY KIWISAVER SCHEME
Endpoints for Default Fund
One-click MCP install
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Full per-client guide + ChatGPT GPT setup at /api/mcp.
Quick examples
cURL
curl -s "https://fundcompare.co.nz/api/fund/Simplicity/default-fund/facts.json" | jq .Python
import requests
data = requests.get("https://fundcompare.co.nz/api/fund/Simplicity/default-fund/facts.json").json()
print(data["fund_name" if "fund" == "fund" else "name"])MCP (Claude Desktop / ChatGPT)
# Claude Code (CLI):
claude mcp add --transport http fundcompare https://fundcompare.co.nz/mcp
# Cursor / Cline / Continue (settings JSON):
{ "mcpServers": { "fundcompare": { "url": "https://fundcompare.co.nz/mcp" } } }
# Claude Desktop (UI): Settings → Connectors → Add custom connector
# URL: https://fundcompare.co.nz/mcp
# Claude Desktop via JSON (uses npx mcp-remote bridge):
{ "mcpServers": { "fundcompare": {
"command": "npx", "args": ["-y", "mcp-remote", "https://fundcompare.co.nz/mcp"]
} } }
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