SIMPLICITY KIWISAVER SCHEME
Defensive Fund — holdings changes
Top-10 portfolio holdings extracted from each FMA-mandated Quarterly Fund Update. The diff below shows what entered, exited, grew, or shrank between the two most recent quarters on file.
Comparing
31 December 2025 → 31 March 2026
Entered
4
Exited
4
Grew / Shrank / Held
1 / 5 / 0
Entered the top 10
- Tax Trader CP 26 June 20263.70% of fund
- Tax Trader CP 27 May 20263.09% of fund
- Auckland City Council Bond 10 August 20262.51% of fund
- Watercare CP 14 April 20262.48% of fund
Exited the top 10
- Tax Trader CP 25 February 2026was 3.46%
- Watercare CP 13 February 2026was 2.77%
- ICBC CP 25 February 2026was 2.77%
- Dunedin CC CP 16 March 2026was 2.76%
Increased weighting
- Cash at Bank3.42% → 4.07% (+0.65 pp)
Decreased weighting
- Kiwibank FRN 13 June 20288.63% → 7.71% (-0.92 pp)
- Westpac NZ FRN 6 July 20268.36% → 7.46% (-0.90 pp)
- Kiwibank FRN 15 March 20286.97% → 6.23% (-0.74 pp)
- Housing NZ bond 5 October 20265.57% → 4.96% (-0.61 pp)
- Simplicity Living Ltd Ordinary Shares2.77% → 2.56% (-0.21 pp)
Current top holdings (31 March 2026)
| Asset | Class | Country | % of fund |
|---|---|---|---|
| Kiwibank FRN 13 June 2028 | — | — | 7.71% |
| Westpac NZ FRN 6 July 2026 | — | — | 7.46% |
| Kiwibank FRN 15 March 2028 | — | — | 6.23% |
| Housing NZ bond 5 October 2026 | — | — | 4.96% |
| Cash at Bank | — | — | 4.07% |
| Tax Trader CP 26 June 2026 | — | — | 3.70% |
| Tax Trader CP 27 May 2026 | — | — | 3.09% |
| Simplicity Living Ltd Ordinary Shares | — | — | 2.56% |
| Auckland City Council Bond 10 August 2026 | — | — | 2.51% |
| Watercare CP 14 April 2026 | — | — | 2.48% |
Data sources
- FMA Disclose register — Quarterly Fund Updates
- Provider websites — issuer-published QFU PDFs
Top-10 holdings are a snapshot only; funds may hold many more positions outside the top-10. General information only — not financial advice.