Fund Performance and Investment Updates

Welcome to our fund performance page, where you can track the historical returns and key metrics of our investment funds.

 

Here, you will find comprehensive information to help you make informed decisions about your investment portfolio.


 

Latest Fund Performance

 

2025-06-30  Lifetime Master Trust investment returns

 

Market Commentary - June 2025

June was jam-packed with market moving events, though not all markets were equally moved as investors got more comfortable on the edge of their seats. Tariffs remained a hot topic, as was the spectacularly public implosion of the world’s most unlikely bromance. But it was Israel’s air assault on Iran later in the month that really rattled cages.

US equities were relatively range-bound at first as investors kept their cool despite the near constant economic and geopolitical noise. Trade talks with China overturned recent tit-for-tat restrictions but yielded little else. Meanwhile, manufacturing came under strain, with US factory activity contracting for a third straight month in May, while lengthy supplier delays suggested some goods were becoming harder to get. More reassuringly, the job market held up and inflation remained well under control.

Stocks stumbled, oil prices surged and gold broke records in the wake of Israel’s attack on Iran and the latter’s swift retaliation. The US then joined the fray with a series of strikes that helped bring tensions back to a low simmer. Assets immediately course-corrected. Oil and the US dollar slumped, while equities gathered steam, with US markets ending the half year at all-time highs. Except for Tesla. Its share price cratered amid mudslinging between CEO Elon Musk and erstwhile bestie President Trump over his big, beautiful, expensive Bill.

On home turf, local equities kept their heads above water in June, albeit with less buoyancy than some global peers. The NZX’s defensive tilt means risk-based sell offs don’t hit quite so hard, but nor do the enthusiastic rebounds. The performance disparity was particularly pronounced over the half year, with the NZX ending the period down almost 4%. While the domestic economy was stronger than expected in the first quarter, Kiwis remained reluctant consumers, with retail spending down again in May.

Australian markets were also relatively subdued amid an uncertain backdrop, although energy sector resilience proved broadly supportive. As did the latest inflation print, which eased to its lowest in several years, making a July rate cut close to certain.

Against this backdrop, the S&P 500 finished June up 5.0%, while the tech-focused Nasdaq rose 6.6%. The NZX 50 gained 1.5% over the month, while the ASX 200 finished 1.4% ahead. Meanwhile, the UK’s FTSE 100 was less upbeat, ending June down -0.1%. The World Bank slashed its global growth forecast for 2025 to 2.3% amid higher tariffs and heightened geopolitical risk, while NATO members agreed to amp up their defence budgets to 5% of GDP over the next decade.

Past Investment Performance 2025 

2025-05-31  Lifetime Master Trust investment returns

2025-04-30 Lifetime Master Trust investment returns

2025-03-31 Lifetime Master Trust investment returns

2025-02-28 Lifetime Master Trust investment-returns

2025-01-31 Lifetime Master Trust investment-returns

 

Past Investment Performance 2024 

2024-12-31 Lifetime Master Trust investment-returns

2024-11-30 Lifetime Master Trust investment-returns

2024-10-31 Lifetime Master Trust investment-returns

2024-09-30 Lifetime Master Trust investment-returns

2024-08-31 Lifetime Master Trust investment-returns

2024-07-31 Lifetime Master Trust investment-returns

2024-06-30 Lifetime Master Trust investment-returns

2024-05-31 Lifetime Master Trust investment-returns

2024-04-30 Lifetime Master Trust investment-returns

2024-03-31 Lifetime Master Trust investment-returns

2024-02-29 Lifetime Master Trust investment-returns

2024-01-31 Lifetime Master Trust investment-returns

 

Past Investment Performance 2023

2023-12-31 Lifetime Master Trust investment-returns

2023-11-30 Lifetime Master Trust investment-returns

2023-10-31 Lifetime Master Trust investment-returns

2023-09-30 Lifetime Master Trust investment-returns

2023-08-31 Lifetime Master Trust investment-returns

2023-07-31 Lifetime Master Trust investment-returns

2023-06-30 Lifetime Master Trust investment-returns

2023-05-31 Lifetime Master Trust investment-returns

2023-04-31 Lifetime Master Trust investment-returns

2023-03-31 Lifetime Master Trust investment-returns

 

 

Past Investment Performance 2022

2022-12-31 Lifetime Master Trust investment-returns

2022-09-30 Lifetime Master Trust investment-returns​

2022-06-30 Aon Master Trust investment-returns

2022-03-31 Aon Master Trust investment-returns

 

 

 

Past Investment Performance 2021

2021-12-31 Aon Master Trust investment returns

2021-09-30 Aon Master Trust investment returns

2021-06-30 Aon Master Trust investment returns

2021-03-31 Aon Master Trust investment returns

 

 

Past Investment Performance 2020

2020-12-31 Aon Master Trust investment returns

2020-09-30 Aon Master Trust investment returns

2020-06-30 Aon Master Trust investment returns

2020-03-31 Aon Master Trust investment returns

 

 

Past Investment Performance 2019 and prior

2019-12-31 Aon Master Trust investment returns

2019-09-30 Aon Master Trust investment returns

2019-06-30 Aon Master Trust investment returns

2019-03-31 Aon Master Trust investment returns

2018-12-31 Aon Master Trust investment returns

 

 


 

Fund Updates

We prepare Fund Updates to assist members in keeping up to date with their Lifetime Master Trust investment. These fund updates provide key information including how the funds have performed, and will help members to compare them with other funds.

 

Fund Updates 2025


2025-03 Lifetime Cash Fund

2025-03 Lifetime Conservative Fund

2025-03 Lifetime Balanced Fund

2025-03 Lifetime Growth Fund

2025-03 Lifetime Active Growth Fund

2025-03 Lifetime NZ Bond Fund

2025-03 Lifetime Australasian Shares Fund 

2025-03 Lifetime Overseas Bond Fund

2025-03 Lifetime Overseas Shares Fund

2025-03 Lifetime Property Fund

2025-03 Lifetime Target Date 2025 Fund

2025-03 Lifetime Target Date 2035 Fund

2025-03 Lifetime Target Date 2045 Fund


Fund Updates 2024


2024-03 Lifetime Cash Fund

2024-03 Lifetime Conservative Fund

2024-03 Lifetime Balanced Fund

2024-03 Lifetime Growth Fund

2024-03 Lifetime Active Growth Fund

2024-03 Lifetime NZ Bond Fund

2024-03 Lifetime Australasian Shares Fund 

2024-03 Lifetime Overseas Bond Fund

2024-03 Lifetime Overseas Shares Fund

2024-03 Lifetime Property Fund

2024-03 Lifetime Target Date 2025 Fund

2024-03 Lifetime Target Date 2035 Fund

2024-03 Lifetime Target Date 2045 Fund

 

Fund Updates 2023


2023-03 Lifetime Cash Fund

2023-03 Lifetime Conservative Fund

2023-03 Lifetime Balanced Fund

2023-03 Lifetime Growth Fund

2023-03 Lifetime Active Growth Fund

2023-03 Lifetime NZ Bond Fund

2023-03 Lifetime Australasian Shares Fund 

2023-03 Lifetime Overseas Bond Fund

2023-03 Lifetime Overseas Shares Fund

2023-03 Lifetime Property Fund

2023-03 Lifetime Target Date 2025 Fund

2023-03 Lifetime Target Date 2035 Fund

2023-03 Lifetime Target Date 2045 Fund

 

Fund Updates 2022

2022-03 ANZ Australasian Property Fund 

2022-03 ANZ Australasian Shares Fund

2022-03 ANZ Balanced Fund 

2022-03 ANZ Capital Stable Fund

2022-03 ANZ Cash Fund

2022-03 ANZ Conservative Fund

2022-03 ANZ Growth Fund 

2022-03 ANZ International Bond Fund

2022-03 ANZ International Shares Fund

2022-03 ANZ NZ Bond Fund 

2022-03 Milford Active Growth Wholesale Fund

2022-03 Nikko Balanced Fund

2022-03 Nikko Cash Fund

2022-03 Nikko Conservative Fund 

2022-03 Nikko Growth Fund 

2022-03 Russell LifePoints® Balanced Fund

2022-03 Russell LifePoints® Conservative Fund

2022-03 Russell LifePoints® Growth Fund

2022-03 Russell LifePoints® Moderate Fund

2022-03 Russell LifePoints® Target Date 2015 Fund 

2022-03 Russell LifePoints® Target Date 2025 Fund

2022-03 Russell LifePoints® Target Date 2035

2022-03 Russell LifePoints® Target Date 2045

 

Fund Updates 2021

2021-03 ANZ Australasian Property Fund

2021-30 ANZ Australasian Shares Fund

2021-03 ANZ Balanced Fund

2021-03 ANZ Capital Stable Fund

2021-03 ANZ Cash Fund

2021-03 ANZ Conservative Fund

2021-03 ANZ Growth Fund

2021-03 ANZ International Bond Fund

2021-03 ANZ International Shares Fund

2021-03 ANZ NZ Bond Fund

2021-03 Milford Active Growth Wholesale Fund

2021-03 Nikko Balanced Fund

2021-03 Nikko Cash Fund

2021-03 Nikko Conservative Fund

2021-03 Nikko Growth Fund

2021-03 Russell LifePoints® Balanced Fund

2021-03 Russell LifePoints® Conservative Fund

2021-03 Russell LifePoints® Growth Fund

2021-03 Russell LifePoints® Moderate Fund

2021-03 Russell LifePoints® Target Date 2015 Fund

2021-03 Russell LifePoints® Target Date 2025 Fund

2021-03 Russell LifePoints® Target Date 2035 Fund

2021-03 Russell LifePoints® Target Date 2045 Fund

 

Fund Updates 2020

2020-03 ANZ Australasian Property Fund

2020-30 ANZ Australasian Shares Fund

2020-03 ANZ Balanced Fund

2020-03 ANZ Capital Stable Fund

2020-03 ANZ Cash Fund

2020-03 ANZ Conservative Fund

2020-03 ANZ Growth Fund

2020-03 ANZ International Bond Fund

2020-03 ANZ International Property Fund

2020-03 ANZ International Shares Fund

2020-03 ANZ NZ Bond Fund

2020-03 Milford Active Growth Wholesale Fund

2020-03 Nikko Balanced Fund

2020-03 Nikko Cash Fund

2020-03 Nikko Conservative Fund

2020-03 Nikko Growth Fund

2020-03 Russell LifePoints® Balanced Fund

2020-03 Russell LifePoints® Conservative Fund

2020-03 Russell LifePoints® Growth Fund

2020-03 Russell LifePoints® Moderate Fund

2020-03 Russell LifePoints® Target Date 2015 Fund

2020-03 Russell LifePoints® Target Date 2025 Fund

2020-03 Russell LifePoints® Target Date 2035 Fund

2020-03 Russell LifePoints® Target Date 2045 Fund

 

Fund Updates 2019

2019-03 ANZ Australasian Property Fund

2019-30 ANZ Australasian Shares Fund

2019-03 ANZ Balanced Fund

2019-03 ANZ Capital Stable Fund

2019-03 ANZ Cash Fund

2019-03 ANZ Conservative Fund

2019-03 ANZ Growth Fund

2019-03 ANZ International Bond Fund

2019-03 ANZ International Property Fund

2019-03 ANZ International Shares Fund

2019-03 ANZ NZ Bond Fund

2019-03 Milford Active Growth Wholesale Fund

2019-03 Nikko Balanced Fund

2019-03 Nikko Cash Fund

2019-03 Nikko Conservative Fund

2019-03 Nikko Growth Fund

2019-03 Russell LifePoints® Balanced Fund

2019-03 Russell LifePoints® Conservative Fund

2019-03 Russell LifePoints® Growth Fund

2019-03 Russell LifePoints® Moderate Fund

2019-03 Russell LifePoints® Target Date 2015 Fund

2019-03 Russell LifePoints® Target Date 2025 Fund

2019-03 Russell LifePoints® Target Date 2035 Fund

2019-03 Russell LifePoints® Target Date 2045 Fund

 

Fund Updates 2018

2018-03 ANZ Balanced Fund

2018-03 ANZ Cash Fund

2018-03 ANZ Conservative Fund

2018-03 ANZ Growth Fund

2018-03 Milford Active Growth Wholesale Fund

2018-03 Nikko Balanced Fund

2018-03 Nikko Cash Fund

2018-03 Nikko Conservative Fund

2018-03 Nikko Growth Fund

2018-03 Russell LifePoints® Balanced Fund

2018-03 Russell LifePoints® Conservative Fund

2018-03 Russell LifePoints® Growth Fund

2018-03 Russell LifePoints® Moderate Fund

2018-03 Russell LifePoints® Target Date 2025 Fund

2018-03 Russell LifePoints® Target Date 2035 Fund

2018-03 Russell LifePoints® Target Date 2045 Fund

 

Fund Updates 2017

2017-03 ANZ Balanced Fund

2017-03 ANZ Cash Fund

2017-03 ANZ Conservative Fund

2017-03 ANZ Growth Fund

2017-03 Milford Active Growth Wholesale Fund

2017-03 Nikko Balanced Fund

2017-03 Nikko Cash Fund

2017-03 Nikko Conservative Fund

2017-03 Nikko Growth Fund

2017-03 Russell LifePoints® Balanced Fund

2017-03 Russell LifePoints® Conservative Fund

2017-03 Russell LifePoints® Growth Fund

2017-03 Russell LifePoints® Moderate Fund

2017-03 Russell LifePoints® Target Date 2025 Fund

2017-03 Russell LifePoints® Target Date 2035 Fund

2017-03 Russell LifePoints® Target Date 2045 Fund