Fund watch
How has each SIL fund performed?
| SIL Mutual Scheme Performance as at 31 December 2024 |
3 months (%) |
1 year (%) |
3 years (% p.a.) |
5 years (% p.a.) |
10 years (% p.a.) |
| SIL Cash Plus Fund | 1.18% | 5.50% | 4.24% | 2.77% | 2.49% |
| SIL Balanced Plus Fund | 1.12% | 8.60% | 1.63% | 5.19% | 6.78% |
| SIL New Zealand Fixed Interest Fund | 0.55% | 5.15% | 0.90% | 0.70% | 2.44% |
| SIL New Zealand Share Fund | 5.92% | 11.28% | -0.12% | 2.93% | 8.37% |
| SIL International Share Fund | 11.13% | 20.31% | 6.82% | 10.73% | 11.74% |
Performance is after annual fund charges and before tax.
It was another good quarter for US share markets with several indices trading to new record highs, helped in part by Donald Trump’s election victory. For the quarter, the S&P 500 Index rose 2.4% (in local currency terms), while the Nasdaq 100 Index was up a stellar 6.3%. For the second straight year, both indices ended the year up more than 20%. At a sector level, technology companies continued to shine, while the consumer discretionary sector also had a good quarter, highlighting the resilience of the US consumer.
Elsewhere, European equity markets were mostly lower, weighed down by the somewhat bleak economic backdrop, and concerns Trump’s tariffs could weigh on its export markets. Meanwhile, Asian equities were generally higher, led by Japan’s Nikkei 225 Index, which benefited from a weakening Japanese yen. Against the backdrop of a good quarter for global equity markets, the SIL International Share Fund rose 11.13%.
New Zealand equities were also higher, benefiting from 100 basis points of cuts to the Official Cash Rate (OCR) by the Reserve Bank of New Zealand (RBNZ), while the reporting season was also relatively upbeat. Over the quarter, the SIL New Zealand Share Fund rose 5.92%.
Despite the local share market’s strong performance, economic data was generally weak over the quarter, with growth (GDP) falling 1% in the third quarter. It followed a 1.1% slump in the previous quarter. These were the biggest quarterly falls since late 2021 – at the height of the Covid-19 pandemic and lockdowns. Elsewhere, retail sales have now registered nine consecutive quarters of decline, while unemployment rose to 4.8% in the September quarter, up from 4.6%.
The bleak economic backdrop was somewhat supportive of the New Zealand bond market, which tends to do better when interest rates need to fall further. Against this backdrop, the SIL New Zealand Fixed Interest Fund rose 0.55%.
Elsewhere cash investment delivered steady returns, with the SIL Cash Plus Fund up 1.18%, while the SIL Balanced Plus Fund – which has around 65% of its holdings in growth investments and the remaining 35% in income investments – rose 1.12% over the quarter.
This article has been prepared by ANZ New Zealand Investments Limited (‘ANZ Investments’) for information purposes only and it should not be treated as financial advice.
Superannuation Investments Limited is the issuer and manager of the SIL Mutual Scheme. ANZ Investments is not an authorised deposit taking institution (ADI) under Australian law and investments in the scheme aren't deposits in or liabilities of ANZ Bank New Zealand Limited, Australia and New Zealand Banking Group Limited, or their subsidiaries (together 'ANZ Group'). ANZ Group doesn’t stand behind or guarantee ANZ Investments. Investments in the scheme are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group won’t be liable to you for the capital value or performance of your investment.
Past performance does not indicate future performance, and performance can be negative as well as positive. This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product.
Investment and administration manager: ANZ New Zealand Investments Limited.