SUPERLIFE KIWISAVER SCHEME
UK Cash Fund
Recent material changes
Diffs we track across PDS, SIPO, holdings + fee history
- View holdings changes →HoldingsMATERIALMar 2026Top-10 turnover: 5 new, 3 droppedQuarter-on-quarter (Dec 2025 → Mar 2026)
About this defensive fund
The UK Cash Fund is a KiwiSaver scheme fund offered by Smartshares within the SUPERLIFE KIWISAVER SCHEME. It is classified as a defensive fund with an asset allocation of 100% income assets and 0% growth assets. This composition positions it toward the conservative end of the investment spectrum, focusing on capital preservation and steady income generation rather than capital growth.
The fund delivered a 5-year average annual return of 2.14%. The annual fee of 0.59% sits below the peer-median fee of 0.62% for defensive KiwiSaver scheme funds in its cohort. As of 31 March 2026, the fund held $4.1 million in assets across 183 members. Past performance is not a reliable indicator of future returns.
On the FMA risk indicator scale, this fund sits at 4 out of 7, placing it in the lower-to-moderate risk range. A risk rating of 4 is typically considered appropriate for investors with a lower risk tolerance, those approaching or in retirement, or those seeking capital stability over growth potential. Investors should review the fund's investment statement and consider their own circumstances before making decisions. Past performance is not a reliable indicator of future returns.
Holdings
As of 2026-03-31 UK Cash Fund reports an asset mix of 0% growth assets (shares, listed property, alternatives) and 100% income assets (cash, bonds, fixed interest). This split is typical for a defensive fund. The full asset-mix breakdown including overseas vs domestic and listed vs unlisted exposure appears in the asset-allocation chart below.
Performance
UK Cash Fund has 34 quarters of QFU data on file (2017-09-30 to 2026-03-31). The 5-year average annual return reported in the most recent QFU is 2.41%. Past performance is not a reliable indicator of future returns.
Fees
At 0.59% in annual charges, UK Cash Fund's fee sits 0.03 percentage points below the median for Defensive KiwiSaver scheme funds in our coverage (median 0.62%). 23 of the 49 funds in this cohort charge a lower annual fee (this fund ranks 24 cheapest of 49). Fee level is a mechanical signal — does not factor in returns, risk, or manager skill.
Risk and suitability
UK Cash Fund carries a risk indicator of 4/7 on the FMA risk scale. Risk indicator 3-4 funds are typically considered for members with a medium investment horizon (3-10 years) or those balancing growth potential against shorter-term volatility. FundCompare does not provide personalised advice; consult a licensed financial adviser to understand whether this risk profile fits your circumstances.
Returns
2.41%
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 Defensive KiwiSaver scheme fund (light green).
2.41% for this fund — category median 1.46% across 43 Defensive KiwiSaver scheme funds at 31 March 2026. This fund ranks 12 of 43 (72nd percentile) by five-year after-fee return.
Past performance is not an indicator of future performance.
Fees
0.59%
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 Defensive 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 fordefensive KiwiSaver scheme funds is shown in light blue.
Key Takeaways
Here’s the provider’s overview of the managed fund:
“ Invests in UK cash and is designed to reflect the return (before tax, fees and other expenses) of the UK cash market. ”
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 Defensive 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 25.41% of this fund.
| Asset | Asset Class | Type | Country | % of Fund | |
|---|---|---|---|---|---|
 | Kiwibank TD 17/12/26 | 3.15 | |||
 | Kiwibank TD 14/09/26 | 3.08 | |||
 | Westpac New Zealand TD 18/12/26 | 3.075 | |||
 | Westpac New Zealand TD 18/06/26 | 2.925 | |||
 | Rabobank FRN 08/12/26 | 2.69 | |||
 | Toyota Finance New Zealand FRN 30/09/27 | 2.41 | |||
 | Bank Of New Zealand Bond 08/06/26 1.884 | 2.38 | |||
 | Transpower NZ FRN 14/09/26 | 2.19 | |||
 | Auckland Council FRN 04/10/27 | 2.01 | |||
 | NZLGFA Bond 15/04/26 | 1.50 |
Top-10 holdings changes
31 Dec 2025 → 31 Mar 2026
Toyota Finance New Zealand FRN 30/09/272.41%
Bank Of New Zealand Bond 08/06/26 1.8842.38%
Kiwibank TD 14/09/263.08%
Westpac New Zealand TD 18/12/263.08%
Westpac New Zealand TD 18/06/262.92%
The top 10 investments make upwas 30.17%
BANK OF CHINA TD 27/01/26was 2.90%
MUFG BANK RCD 24/02/26was 2.63%
None this quarter.
Rabobank FRN 08/12/263.03% → 2.69% (-0.34 pp)
Transpower NZ FRN 14/09/262.47% → 2.19% (-0.28 pp)
Auckland Council FRN 04/10/272.27% → 2.01% (-0.26 pp)
Fees
0.59%
This Fund
0.55%
Average Defensive 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 Defensive 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 | — | 30 |
| total Total fund charges | 0.52% | — |
Returns
2.41%
This Fund
1.35%
Average Defensive 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 Defensive 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 | SMARTSHARES LIMITED |
| Type | NZ Limited Company |
| Website | superlife.co.nz |
| NZBN | 9429038512483 |
| FSP Number | FSP26531 |
Fund information
| Asset liquidity ratio | 100.00% |
| Total value of fund | $4055899.86 |
| Debt ratio |
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
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Identifiers
- FMA fund code
- FND2630
- FSP number
- FSP26531
- NZBN
- 9429038512483
- Provider
- Smartshares
- Scheme
- SUPERLIFE KIWISAVER SCHEME
Endpoints for UK Cash Fund
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curl -s "https://fundcompare.co.nz/api/fund/smartshares/uk-cash-fund/facts.json" | jq .Python
import requests
data = requests.get("https://fundcompare.co.nz/api/fund/smartshares/uk-cash-fund/facts.json").json()
print(data["fund_name" if "fund" == "fund" else "name"])MCP (Claude Desktop / ChatGPT)
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{ "mcpServers": { "fundcompare": {
"command": "npx", "args": ["-y", "mcp-remote", "https://fundcompare.co.nz/mcp"]
} } }
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The information provided on this website is not a recommendation to buy, sell, or hold any financial products. Nothing on this website constitutes financial advice for the purposes of the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider.
Investing involves risk. The value of your investment can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future returns.
Before making any investment decision, you should read the Product Disclosure Statement (PDS) for the fund carefully. If you have questions or are unclear about the implications of your investment decision, you should seek advice from a licensed Financial Advice Provider.
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