What are income assets in KiwiSaver?

Income assets are bonds (fixed interest securities) and cash investments that provide steady income with low volatility. Funds with 70%+ income assets prioritize capital preservation over growth. They're designed for first home buyers (1-3 years), near-retirees (5 years from retirement), and conservative investors who need stability.

Who should choose high income asset KiwiSaver funds?

Ideal for: First home buyers needing money in 1-3 years, people within 5 years of retirement, those with low risk tolerance, investors protecting capital for short-term goals. NOT suitable for: Young investors (20s-40s) with long timeframes, those seeking maximum growth, anyone 10+ years from retirement.

What returns can I expect from high income asset funds?

High income asset funds (70%+ bonds/cash) typically return 2-5% annually. Returns are lower than growth funds but more stable. In good years: 4-6%, bad years: 0-2%, rarely negative. The trade-off is safety vs growth - these funds protect your money when you need it soon, but won't grow wealth as much over 20+ years.

Are high income asset funds safe?

High income asset funds are the safest KiwiSaver option but not risk-free. They invest in government and corporate bonds which are stable but can lose value if interest rates rise. However, losses are typically small (2-5% max) compared to growth funds which can drop 20-40% in crashes. Best for capital preservation when you need money soon.

Should I switch to high income assets before buying my first home?

Yes! Switch to high income asset funds (70%+ bonds/cash) 1-2 years before your first home purchase. This protects your KiwiSaver from market crashes right when you need it for your deposit. Growth funds can drop 15-20% suddenly, potentially costing you thousands. High income funds are stable, ensuring your deposit money is safe when you need it.

🛡️ Maximum Stability

High Income Assets KiwiSaver Funds

86 KiwiSaver funds with 70%+ income assets (bonds & cash). Maximum stability and capital preservation for first home buyers, near-retirees, and conservative investors.

Total Funds

70%+ bonds/cash

Average Return

1.47%

5-year average

Average Fees

0.66%

Annual fees

Avg Income Assets

90.9%

In bonds/cash

Why Choose High Income Asset Funds?

✓ Perfect For:

• First home buyers - protect deposit within 1-3 years
• Near-retirees - within 5 years of age 65
• Conservative investors - low risk tolerance
• Capital preservation - need money soon
• Risk-averse - panic during market drops

⚡ Key Benefits:

• Minimal volatility - very stable
• Rare negative returns (usually 0-5%)
• Protects capital for short-term goals
• Peace of mind during market crashes
• Suitable for short timeframes (1-5 years)

💡 Important: Long-Term Trade-off

While high income asset funds are stable and safe, they deliver lower returns (2-5% vs 7-10%) over long periods. If you have 10+ years until retirement, consider Balanced funds or Growth funds for better long-term wealth building. High income funds are designed for short-term stability, not long-term growth.

All High Income Asset Funds Ranked

Rank	Fund Name	Provider	Income Assets	5-Year Return	Fees	Risk
#1	Superlife Conservative Fund	Smartshares	70.5%	4.02%	0.67%	4/7
#2	Pathfinder Kiwisaver Conservative Fund	Pathfinder	87.2%	3.65%	1.01%	3/7
#3	Conservative Portfolio	Maritime	81.7%	3.53%	0.61%	4/7
#4	Quaystreet Conservative Fund	Smartshares	80.0%	3.53%	0.86%	3/7
#5	Milford Kiwisaver Conservative Fund	Milford	81.7%	3.44%	0.87%	3/7
#6	Default Conservative Fund	Fisher	77.8%	3.34%	0.51%	3/7
#7	Conservative Fund	Fisher	74.9%	3.17%	0.87%	4/7
#8	Quaystreet Income Fund	Smartshares	92.7%	3.06%	0.87%	3/7
#9	Conservative Fund	SuperEasy	80.7%	2.74%	0.51%	3/7
#10	Automatic Fund (Age 80)	SuperEasy	74.8%	2.73%	0.51%	3/7
#11	Conservative Fund	Westpac	74.9%	2.72%	0.40%	3/7
#12	Pie Kiwisaver Conservative Fund	Pie	73.1%	2.64%	0.69%	3/7
#13	BNZ Kiwisaver First Home Buyer Fund	BNZ	85.7%	2.61%	0.45%	3/7
#14	Defensive Conservative Fund	Westpac	80.0%	2.57%	0.40%	3/7
#15	Lifestages Auto Option Age 65+	SBS	70.7%	2.52%	0.96%	3/7
#16	Goalsgetter Amova Conservative Fund	Nikko	76.3%	2.52%	0.98%	3/7
#17	AMP Conservative Fund	AMP	77.9%	2.51%	0.84%	3/7
#18	AMP Conservative Fund (Lifesteps)	AMP	77.9%	2.51%	0.84%	3/7
#19	Income Strategy	NZ Funds	100.0%	2.46%	1.22%	4/7
#20	Conservative Fund	MAS	79.9%	2.44%	0.85%	3/7
#21	Cash Fund	Fisher	100.0%	2.43%	0.45%	1/7
#22	Goalsgetter Amova Nz Cash Fund	Nikko	100.0%	2.38%	0.49%	2/7
#23	Cash Fund	Westpac	100.0%	2.38%	0.25%	2/7
#24	Responsible Conservative Fund	Mercer	80.5%	2.35%	0.49%	3/7
#25	Conservative Fund	ASB	73.8%	2.33%	0.40%	3/7
#26	Cash Fund	MAS	100.0%	2.33%	0.25%	1/7
#27	Cash Fund	ANZ	100.0%	2.32%	0.22%	2/7
#28	Cash Fund	ANZ	100.0%	2.32%	0.22%	2/7
#29	Conservative Fund	Mercer	81.5%	2.28%	0.67%	3/7
#30	Milford Kiwisaver Cash Fund	Milford	100.0%	2.28%	0.20%	1/7
#31	BNZ Kiwisaver Cash Fund	BNZ	100.0%	2.24%	0.30%	2/7
#32	Capital Guaranteed Fund	Booster	88.7%	2.23%	1.03%	2/7
#33	Nz Cash Fund	ASB	100.0%	2.18%	0.35%	2/7
#34	Bcf Kiwisaver Scheme	Arotahi	100.0%	2.16%	0.76%	3/7
#35	Cash Fund	Mercer	100.0%	2.16%	0.32%	2/7
#36	BNZ Kiwisaver Conservative Fund	BNZ	80.9%	2.14%	0.45%	3/7
#37	UK Cash Fund	Smartshares	100.0%	2.14%	0.59%	4/7
#38	Nz Cash Fund	Smartshares	100.0%	2.14%	0.62%	2/7
#39	Summer New Zealand Cash	Forsyth Barr	100.0%	2.10%	0.62%	1/7
#40	Cash Fund	Mercer	100.0%	2.05%	0.43%	2/7
#41	Conservative Fund	ANZ	79.9%	2.01%	0.60%	3/7
#42	Conservative Fund	ANZ	79.9%	2.01%	0.60%	3/7
#43	New Zealand Cash Fund	Koura	100.0%	1.98%	0.73%	1/7
#44	Global Select Conservative Fund	AMP	77.0%	1.91%	1.08%	3/7
#45	AMP Cash Fund	AMP	100.0%	1.91%	0.65%	2/7
#46	Enhanced Cash Fund	Booster	100.0%	1.83%	0.87%	2/7
#47	Conservative Fund	Simplicity	79.8%	1.79%	0.25%	3/7
#48	Quaystreet Fixed Interest Fund	Smartshares	100.0%	1.73%	0.86%	3/7
#49	Superlife Age Steps - Age 80	Smartshares	90.1%	1.56%	0.66%	3/7
#50	Nz Bonds Fund	Smartshares	100.0%	1.47%	0.64%	3/7
#51	Income Fund	Anglican	100.0%	1.46%	0.80%	3/7
#52	Goalsgetter Amova Nz Corporate Bond Fund	Nikko	100.0%	1.16%	0.80%	3/7
#53	New Zealand Fixed Interest Fund	Koura	100.0%	0.99%	0.73%	3/7
#54	Summer New Zealand Fixed Interest	Forsyth Barr	100.0%	0.78%	0.87%	3/7
#55	Superlife Income Fund	Smartshares	100.0%	0.72%	0.66%	3/7
#56	Overseas Bonds Fund	Smartshares	100.0%	0.67%	0.69%	3/7
#57	Overseas Non-Government Bonds Fund	Smartshares	100.0%	0.55%	0.64%	4/7
#58	Summer Global Fixed Interest	Forsyth Barr	100.0%	0.34%	0.87%	3/7
#59	New Zealand Fixed Interest Fund	ANZ	100.0%	0.15%	0.34%	3/7
#60	S&P/Nzx Nz Government Bond Fund	Smartshares	100.0%	0.00%	0.64%	3/7
#61	Investnow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund	Fundrock	100.0%	0.00%	0.44%	4/7
#62	Investnow Macquarie Nz Fixed Interest Fund	Fundrock	100.0%	0.00%	0.61%	3/7
#63	Investnow Harbour Nz Core Fixed Interest Fund	Fundrock	100.0%	0.00%	0.65%	3/7
#64	Global Aggregate Bond Fund	Smartshares	100.0%	0.00%	0.69%	3/7
#65	Investnow Macquarie Nz Cash Fund	Fundrock	100.0%	0.00%	0.30%	2/7
#66	Defensive Fund	Simplicity	98.3%	0.00%	0.25%	3/7
#67	Goalsgetter Milford Conservative Fund	Nikko	81.0%	0.00%	1.17%	3/7
#68	Kernel Us Bond Fund	Kernel	100.0%	0.00%	0.30%	4/7
#69	Conservative Fund	Generate	79.9%	0.00%	1.21%	3/7
#70	Kernel Nz Bond Fund	Kernel	100.0%	0.00%	0.40%	3/7
#71	Investnow Hunter Global Fixed Interest Fund	Fundrock	100.0%	0.00%	0.53%	4/7
#72	Investnow Fisher Funds Conservative Fund	Fundrock	73.3%	0.00%	0.93%	3/7
#73	Stepping Stones Growth 76+	Generate	79.9%	0.00%	1.21%	3/7
#74	Aurora Liquidity Fund	Fundrock	100.0%	0.00%	0.50%	2/7
#75	Kernel Cash Plus Fund	Kernel	100.0%	0.00%	0.25%	1/7
#76	Stepping Stones 76+	Generate	79.9%	0.00%	1.21%	3/7
#77	Milford Conservative Fund	AMP	81.0%	0.00%	1.33%	3/7
#78	Cashplus Fund	Generate	100.0%	0.00%	0.91%	1/7
#79	Conservative Strategy	Koura	75.3%	0.00%	0.73%	3/7
#80	Investnow Milford Conservative Fund	Fundrock	81.0%	0.00%	0.87%	3/7
#81	Investnow Russell Investments Nz Fixed Interest Fund	Fundrock	100.0%	0.00%	0.49%	3/7
#82	Glidepath Age 75	Fisher	76.9%	0.00%	0.84%	3/7
#83	SBS Wealth Income Fund	SBS	100.0%	-0.04%	0.87%	3/7
#84	AMP Global Fixed Interest Fund	AMP	100.0%	-0.81%	0.84%	3/7
#85	International Fixed Interest Fund	ANZ	100.0%	-0.87%	0.49%	4/7
#86	AMP Nz Fixed Interest Fund	AMP	100.0%	-0.90%	0.86%	3/7

Other Asset Allocation Options

Defensive Income

80%+ bonds/cash - ultra-conservative

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Conservative Funds

All low-risk conservative options

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Balanced Funds

Mix of growth and income assets

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Data source: FMA KiwiSaver Quarterly Reports. Last updated: October 2025.

Disclaimer: While high income asset funds are lower risk, they are not risk-free. Past performance does not guarantee future results. This is not financial advice. Consult a licensed financial adviser.

High Income Assets KiwiSaver Funds

Why Choose High Income Asset Funds?

✓ Perfect For:

⚡ Key Benefits:

💡 Important: Long-Term Trade-off

All High Income Asset Funds Ranked

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Conservative Funds

Balanced Funds

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