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Active Series

Cash Portfolio

The investment objective of the Cash Portfolio is to provide a source of capital. The Portfolio is anticipated to mainly own and trade cash and cash equivalents and other authorised asset classes over the minimum suggested timeframe.

More information

Compounding returns

Returns are reinvested so you’ll earn returns on your returns.
Remain invested for as long as you want.

Diversified portfolio

Invested in a range of three-month bank bills issued by ASB, BNZ, Kiwibank and Westpac.

Fully liquid

Not locked in like term deposits.
Redeem in four business days or via a regular withdrawal.

Hassle free

Avoid call centres. No rollovers required.
See your balance online or via our Digital Wallet.

Returns

Since inception (28 February 2008) to 30 September 2026

AnnualisedCumulative
Year to date 1.62%1.62%
1 Month 0.21%0.21%
3 Months 0.59%0.59%
6 Months 1.12%1.12%
1 Year 2.22%2.22%
2 Years 2.92%5.93%
3 Years 3.74%11.65%
5 Years 3.39%18.14%
10 Years 2.22%24.52%
Since Inception 2.68%63.62%
Maximum Decline 12 Months 0.00%0.00%
Volatility 5 Years 0.26%0.26%

Notes

Since inception (28 February 2008) to 30 September 2026. Returns are stated after full Portfolio fees and expenses including performance fees (where applicable), but before any advisory fees or investor tax. No management fee rebates have been applied to these numbers, see PDS for management fee rebate criteria. Past performance is not necessarily an indication of future returns. Maximum decline represents the largest decline in value in the previous 12 months. Volatility 5 Years is the annualised standard deviation calculated from weekly returns of the Portfolio over the 5 years ending 30 September 2026. 

Performance

Since inception (28 February 2008) to 30 September 2026

Notes

The graph displays the change in value of a notional investment of $100 after full fees and tax (assuming a tax rate of 28%) but before any advisory fees (if applicable). No management fee rebates have been applied in the graphs of individual Portfolio performance. In the graph above, quarter ends are full standard calendar year quarters except the first quarter from inception (28 February 2008) which is not a full quarter.

Portfolio Allocations

Holdings at 30 September 2026

Strategy / SecurityYieldExposure (%)Exposure ($)
Cash and cash equivalents100.0%$138,859,344
Westpac Bank Bill 2.874% 19/10/2026 3.1% 7.1% $9883937
BNZ Bank Bill 2.97% 18/11/2026 3.1% 6.7% $9339569
Westpac Bank Bill 2.86% 12/10/2026 3.2% 6.4% $8848678
Westpac Bank Bill 2.935% 04/11/2026 3.1% 6.0% $8311994
BNZ Bank Bill 2.945% 11/11/2026 3.1% 6.0% $8306949
Bank deposits receivables and payables 2.3% 5.5% $7613361
Westpac Bank Bill 3.152% 17/12/2026 3.2% 5.2% $7244889
Kiwibank Bank Bill 2.9% 27/10/2026 3.1% 4.9% $6758118
Westpac Bank Bill 3.09% 11/12/2026 3.2% 4.8% $6731181
ASB Bank Bill 3.015% 27/11/2026 3.2% 4.5% $6221378
BNZ Bank Bill 3.15% 18/12/2026 3.2% 4.5% $6209320
Kiwibank Bank Bill 3.05% 11/12/2026 3.2% 4.1% $5695615
BNZ Bank Bill 3.125% 15/12/2026 3.2% 4.1% $5693483
ASB Bank Bill 3.14% 16/12/2026 3.2% 3.7% $5175407
Westpac Bank Bill 3.206% 23/12/2026 3.3% 3.7% $5171991
Westpac Bank Bill 2.885% 22/10/2026 3.1% 3.4% $4680682
ASB Bank Bill 3.07% 03/12/2026 3.2% 3.4% $4663495
Kiwibank Bank Bill 3.00% 26/11/2026 3.2% 3.0% $4147958
Westpac Bank Bill 3.208% 24/12/2026 3.3% 3.0% $4137202
Westpac Bank Bill 2.893% 20/10/2026 3.1% 2.6% $3641144
ASB Bank Bill 2.925% 9/11/2026 3.1% 2.6% $3634924
Kiwibank Bank Bill 2.93% 10/11/2026 3.1% 2.6% $3634607
BNZ Bank Bill 2.95% 17/11/2026 3.1% 2.2% $3113465
Total Economic Exposure²100.0%$138,859,344

Notes

NZ Funds is an active manager so the securities listed above may not be held in the future. 

  1. The yield calculation represents an estimate of the yield on the strategy/security, calculated using the most recent information available, hedged back to New Zealand dollars where appropriate. It is not calculated 'as at' any particular date as different investment managers provide data at varying dates. As a result, in some instances the yields may lag the date of this Portfolio summary. The yield is not the actual return on the strategy/security, nor is it a projection or forecast. Details of the yield calculation are available on request from NZ Funds.  
  2. Total economic exposure represents the total economic value of a Portfolio, which is the net asset value of the Portfolio adjusted for the effect of direct equity index futures and other derivatives positions taken by the Portfolio. In calculating economic exposure the notional value of certain derivative higher-risk instruments is used. For more details of the economic exposure calculations, contact NZ Funds. Rounding may affect totals.

Overview

Further information

Further information is contained in the Portfolio Profiles and in the NZ Funds Active Series Product Disclosure Statement (PDS).