Lifetime Lifesteps Stability Fund

  

The Lifetime Lifesteps Stability Fund is a diversified fund that provides exposure to a range of asset classes. It employs an active asset allocation strategy invested 64% in income assets (Cash & Cash Equivalents, NZ Fixed Interest, & International Fixed Interest), and 36% in growth assets (Listed Property, Listed Infrastructure, Australasian Equities, & International Equities). It is expected to experience low to medium volatility.

 

Investment Objectives

The fund seeks to track composite indices (before annual fund charge and tax), comprising:

        • 12% - S&P/NZX Bank Bills 90-Day Index
        • 26% - Bloomberg NZBond Composite 0+ Yr Index
        • 26% - Bloomberg Global Aggregate Index, 100% hedged to NZD
        • 6% - Morningstar New Zealand (total return) Index, including imputation credits
        • 2% - S&P/ASX Fossil Fuel Screened Total Return Index in NZD
        • 21% - MSCI World ex Australia ESG Screened Index, 50% hedged to NZD
        • 3% - S&P/NZX Real Estate Select Index
        • 2% - Dow Jones Global Select ESG Tilted RESI, 100% hedged to NZD
        • 2% - Dow Jones Brookfield Global Infrastructure Index, 100% hedged to NZD

 

Underlying Managers & Target Asset Allocations 

The table below sets out the target asset allocation and underlying investment managers for the Fund.

For more information you can access the Funds Statement of Investment Objectives and Policy (SIPO).

 

Asset Class

Underlying Fund Managers

Product Name

Benchmark Asset Allocation

Cash & Cash Equivalents

Fisher

Fisher Institutional New Zealand Cash Fund

12%

NZ Fixed Interest

Fisher

Fisher Institutional New Zealand Fixed Interest Fund

26%

International Fixed Interest

Smartshares

Smart Wholesale Global Government Bond Fund

Smart Wholesale Global Credit Fund

26%

NZ Equities

Simplicity

Simplicity NZ Share Fund

6%

Australian Equities

Smartshares

Smart Wholesale Global Equity ESG Fund

Smart Wholesale Global Equity ESG Fund Hedged

2%

International Equities

Smartshares

Mercer Socially Responsible Overseas Shares Index Portfolio (Hedged & Unhedged)

21%

NZ Listed Property

Kernel

Kernel NZ Commercial Property Fund

3%

International Listed Property

Kernel

Kernel Global Property (NZD Hedged) Fund

2%

International Listed Infrastructure

Kernel

Kernel Global Infrastructure (NZD Hedged) Fund

2%

 

 

Lifetime Lifesteps Stability Fund - Target Investment Mix 

 

The ‘AMP Lifesteps Stability Fund’ was renamed the ‘Lifetime Lifesteps Stability Fund’ when Lifetime Asset Management acquired the Scheme on 30 September 2023.