SBS Wealth Income Fund
SBS Wealth KiwiSaver Scheme On Cam's implementation panel
SBS Wealth Income Fund is a conservative fund in the SBS Wealth KiwiSaver Scheme. Its provider discloses a risk indicator of 3 out of 7 and an annual fund charge of 0.90%. This page sets out what the provider has disclosed on the Disclose Register, with the Morningstar return where there is one. It is general information, not a recommendation to join or switch.
- 10-year return
- 1.6%a year after fees, before tax, Morningstar, as at 30 June 2026
- Risk indicator
- 3 of 7Disclosed by the provider
- Annual fund charge
- 0.90%Total, as a share of the amount invested
- Fund size
- $269.4 million11,376 investors
Source: Morningstar KiwiSaver Survey, the three months to 30 June 2026, published 30 July 2026. Morningstar files it under Miscellaneous. Returns are annualised: each figure is a return per year, averaged across the period shown. Figures are net of the fund's annual charges and before your own tax. KiwiSaver is taxed at your prescribed investor rate, so two people in the same fund keep different amounts, and fixed dollar member fees are not reflected in a percentage. Past performance does not guarantee future returns.
What the provider says
The fund aims to provide investors with a low-risk investment option that invests predominantly in income producing assets, the majority of these being cash and fixed interest investments. The Fund may also hold high dividend yielding equities and/or listed property and infrastructure investments.
The fund's own description, as disclosed on the Disclose Register. Fund start date: 14 October 2015.
What the fund invests in
| Asset class | Target | Actual |
|---|---|---|
| International fixed interest | 60% | 59.18% |
| New Zealand fixed interest | 35% | 33.51% |
| Cash and cash equivalents | 5% | 7.31% |
Actual allocation as at 30 June 2026. Asset classes held at 0% are left out.
Largest investments
| Investment | Type | Country | Share of fund |
|---|---|---|---|
| IShares Global Aggregate Bond ESG UCITS ETF NZD Hedged | International fixed interest | IE | 23.42% |
| Dimensional Five-Year Diversified Fixed Interest PIE Fund | International fixed interest | NZ | 2.77% |
| Harbour NZ Core Fixed Interest Fund | New Zealand fixed interest | NZ | 30.39% |
| Dimensional Global Bond Sustainability PIE Fund | International fixed interest | NZ | 27.89% |
| Southland Building Society term deposit maturity 21/08/26 | Cash and cash equivalents | NZ | 0.78% |
| Dimensional Two-Year Sustainability Fixed Interest PIE Fund | International fixed interest | NZ | 5.11% |
| Cash Deposit (ANZ Bank) | Cash and cash equivalents | NZ | 1.24% |
| SBS Bank 07/03/2029 6.14 | New Zealand fixed interest | NZ | 1.54% |
| SBS Bank 18/03/2027 4.32 | New Zealand fixed interest | NZ | 0.82% |
| Southland Building Society term deposit maturity 24/09/26 | Cash and cash equivalents | NZ | 0.77% |
Together 94.7% of the fund. The rest is spread across other holdings.
How spread out is it?
| Measure | Disclosed |
|---|---|
| Holdings the provider lists | 21 |
| The ten largest, together | 94.7% |
| Largest single holding | Harbour NZ Core Fixed Interest Fund, 30.4% of the fund |
30% of this fund is in one holding. A holding can itself be a fund or an ETF that holds many investments, and the register does not show what is inside it, so read the provider's Product Disclosure Statement for what sits underneath.
The risk indicator measures how much a fund's returns have moved, not how many investments it holds, so it cannot show concentration on its own. Two funds that hold the same index can carry different indicators. Shares are as the provider disclosed them, and a total above 100% is the provider's own figure.
Fees and charges
| Charge | Disclosed |
|---|---|
| Total annual fund charge | 0.90% |
| Manager's basic fee | 0.50% |
| Performance-based fees | 0.00% |
| Other management charges | 0.40% |
| Contribution fee | Not stated |
| Withdrawal fee | Not stated |
Charges as a share of the amount invested. A blank on the register is shown as not stated. How an adviser is paid is separate, and is set out in our disclosure statement.
Returns the provider has disclosed
These are the provider's own figures from its fund update, shown against the market index it chose. They are the register's "net" returns, which are after the fund's charges and after tax, so they will not match the Morningstar figures in the headline and in the next section, which are after charges and before tax. Read each on its own terms.
| Period | This fund | Market index |
|---|---|---|
| Past year | 1.75% | 2.98% |
| Average a year, 5 years | 0.52% | 1.17% |
| Average a year, since the fund started | 0.77% | 2.06% |
| Year | This fund | Market index |
|---|---|---|
| 12 months to 31 March 2026 | 1.39% | 2.63% |
| 12 months to 31 March 2025 | 2.94% | 4.84% |
| 12 months to 31 March 2024 | 2.85% | 4.14% |
| 12 months to 31 March 2023 | -2.66% | -2.74% |
| 12 months to 31 March 2022 | -2.78% | -3.67% |
| 12 months to 31 March 2021 | 0.07% | 0.71% |
| 12 months to 31 March 2020 | 2.00% | 4.83% |
| 12 months to 31 March 2019 | 2.37% | 4.91% |
| 12 months to 31 March 2018 | 0.45% | 3.23% |
| 12 months to 31 March 2017 | 1.50% | 2.67% |
A return says what happened and not what will.
Market index: 60% Bloomberg Barclays Global Aggregate Index Hedged in NZD, 25% Bloomberg NZ Bond Composite 0+ Yr Index, 15% NZX NZ 90 Day Bank Bill Index.
Returns reported by Morningstar
| Period | This fund |
|---|---|
| 10 years | 1.6% |
| 5 years | 1.4% |
| 3 years | 4.0% |
Annualised returns a year as at 30 June 2026, from the Morningstar KiwiSaver Survey, published 30 July 2026. Returns are annualised: each figure is a return per year, averaged across the period shown. Figures are net of the fund's annual charges and before your own tax. KiwiSaver is taxed at your prescribed investor rate, so two people in the same fund keep different amounts, and fixed dollar member fees are not reflected in a percentage. Morningstar publishes category averages for its five multi-sector categories only, so there is none to show for this fund. Past performance does not guarantee future returns.
Earned a 4 or 5 Globe Sustainability Rating (Morningstar).
Morningstar's Sustainability Rating is its own measure of how a fund's holdings score on environmental, social and governance factors compared with similar funds. It says nothing about returns.
See the full Morningstar returns comparison → (opens in a new tab)
Other details
| Item | Disclosed |
|---|---|
| Asset liquidity ratio | 97.12% |
| Debt ratio | 0.24% |
| Provider last updated this fund | 29 July 2026 |
| Reporting period ended | 30 June 2026 |
Where this comes from
Fund details are from the Disclose Register (opens in a new tab), read on 4 October 2026. The Morningstar return is from the same report as the Morningstar returns comparison. Read the provider's current Product Disclosure Statement before you decide.
Cam compares KiwiSaver providers and funds across the wider NZ market, and a fund appearing here, or on his implementation panel, is not a recommendation. Whether a fund suits you depends on your goals, timeframe and comfort with risk. How Solid Steele is paid depends on the provider and is set out in the disclosure statement. A free KiwiSaver session is the way to see how it applies to you.
See every open fund in the SBS Wealth KiwiSaver Scheme →