OneAnswer KiwiSaver Scheme Australasian Share Fund

Fund report as at 30 June 2019
 

How has the fund performed?

Performance as at 30 June 2019

3 months

1 year

3 years (pa)

5 years (pa)

Since launch

5.42%

14.20%

13.45%

13.69%

8.60%

Performance is after the annual fund charge, and before tax and membership fees (if applicable). For more information, see legal information and disclaimers.

What happened this quarter (3 months to 30 June 2019)

  • Star overweight performer Mainfreight continued to perform well off the back of a strong logistics industry globally. Mainfreight announced a record profit in May, which allowed it to make a $27 million bonus payment to its staff.
  • Conversely, the troubled retirement sector had a shaky quarter, with our underweight position in Summerset working in our favour. The overweight to Metlifecare detracted value. The sector is feeling the brunt of a cooling property market.
  • Auckland Airport was once again a standout performer rising 21% over the quarter as high dividend-paying shares continued to flourish in the low interest rate environment. Our underweight to the stock detracted value.
  • Tourism Holdings shares fell more than 17.3% after the company lowered its earnings guidance in April, citing falling vehicle sales in the US

 

Need more information?

  • Read our Market Review for more information on investment markets
  • Key read: why it’s wise not to try to time the market or chase returns

What does the fund invest in?

The fund invests mainly in New Zealand and Australian equities. Investments may include:

  • equities in companies that are listed or intend to list on the New Zealand or Australian stock exchanges, and
  • cash and cash equivalents

This chart shows the mix of assets that the fund generally intends to invest in.

See the fund's actual investment mix on page 3 of the Fund update.