Performance chart
Fund performance figures are after deductions for charges but before tax. Please note that past performance is not necessarily indicative of future returns. Returns can be positive or negative, and returns over different time periods may vary. No returns are promised or guaranteed.
Fund highlights
April 2026
The New Zealand Growth Fund returned +0.4% in April, compared to its benchmark of -0.1%.
Infratil (+7%) shares continued to perform strongly following its positive CDC Data Centres update in April, plus market feedback suggesting ongoing strong global demand for data centre space.
Vista (+11%) and Xero (+7%) saw share prices rebound from depressed levels, with Vista's cinema clients currently benefiting from strong box office performance.
a2 Milk (-25%) shares were down sharply after the company reported stock-outs in China due to increased regulatory testing requirements and a production backlog. This has resulted in lower sales and increased costs from air-freighting product into market to meet customer needs.
EBOS (-4%) provided an update indicating that higher fuel and packaging costs are likely to reduce its core operating earnings (EBITDA) for its current financial year to $610–620 million (from $615–635 million). The company also hosted an investor day which outlined its confidence in mid-single-digit organic earnings growth and a return to its target of 15% return on capital invested over time, both in line with expectations.
Portfolio Team
Our Managed Funds
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Conservative Fund
Aims to provide stable returns over the long term by investing mainly in income assets with a modest allocation to growth assets.
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Balanced Fund
Aims to provide a balance between stability of returns and growing your investment over the long term by investing in a mix of income and growth assets.
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Growth Fund
Aims to grow your investment over the long term by investing mainly in growth assets.
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Aggressive Fund
Aims to grow your investment over the long term by investing predominantly in growth assets.
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Income Fund
Aims to provide stable returns over the long term by investing in New Zealand and international fixed interest assets.
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Property & Infrastructure Fund
Focuses on growth of your investment over the long term by investing in New Zealand and international property and infrastructure assets.
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New Zealand Growth Fund
Focuses on growth of your investment over the long term by investing in quality New Zealand companies which can consistently produce increasing earnings.
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Australian Growth Fund
Focuses on growth of your investment over the long term by investing in quality Australian companies which can consistently produce increasing earnings.
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International Growth Fund
Focuses on growth of your investment over the long term by investing in quality international companies which can consistently produce increasing earnings.
