- KiwiSaver
You've got choices
Explore our funds
Choosing the KiwiSaver fund that’s right for your savings goals is an important decision. Each of our six funds has a different investment strategy and risk profile, which will produce different returns. Our Stepping Stones options take the hassle out of choosing the right Generate KiwiSaver fund, as these options select a fund based on your age, and automatically adjust as you get older.
Defensive
A stable return over the very short term. It invests in an actively managed portfolio made up entirely of income assets, for those who need certainty of the amount able to be withdrawn.
The target investments for this fund are
100%
Income assets
0%
Growth assets
Fund performance¹
—
10 year return
Risk indicator²
1
2
3
4
5
6
7
Low
Risk / return
High
Conservative
A modest return over the short term. It invests in an actively managed portfolio made up largely of income assets with a small allocation of growth assets.
The target investments for this fund are
80%
Income assets
20%
Growth assets
Fund performance¹
—
10 year return
Risk indicator²
1
2
3
4
5
6
7
Low
Risk / return
High
Moderate
A modest to medium return over the short to medium term. It invests in an actively managed portfolio made up of slightly more income assets than growth assets.
The target investments for this fund are
60%
Income assets
40%
Growth assets
Fund performance¹
5.04%
10 year return
Risk indicator²
1
2
3
4
5
6
7
Low
Risk / return
High
Balanced
A medium return over the medium term. It invests in an actively managed portfolio made up of slightly more growth assets than income assets.
The target investments for this fund are
40%
Income assets
60%
Growth assets
Fund performance¹
—
10 year return
Risk indicator²
1
2
3
4
5
6
7
Low
Risk / return
High
Growth
A high return over the medium to long term. It invests in an actively managed portfolio made up largely of growth assets with a small allocation of income assets.
The target investments for this fund are
20%
Income assets
80%
Growth assets
Fund performance¹
7.93%
10 year return
Risk indicator²
1
2
3
4
5
6
7
Low
Risk / return
High
Aggressive
A higher return over the long term. It invests in an actively managed portfolio made up predominately of growth assets with a minor allocation of income assets.
The target investments for this fund are
5%
Income assets
95%
Growth assets
Fund performance¹
8.45%
10 year return
Risk indicator²
1
2
3
4
5
6
7
Low
Risk / return
High
Defensive
The Defensive Fund aims to provide a stable return over the very short term. It invests in an actively managed portfolio made up entirely of income assets. This fund is useful if you plan to withdraw your KiwiSaver funds within the next 12 months and need certainty of the amount you intend to withdraw, like for a deposit on a first home. Volatility is likely to be the lowest of the funds, however a negative return is still possible.
This fund is invested in
100%
Income assets
These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.
0%
Growth assets
These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.
Fund performance¹
—
10 year return
Target investment mix²
This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.
Cash 25%
Fixed income 75%
Risk indicator³
The risk category is calculated based on the volatility of past returns over five years.
1
2
3
4
5
6
7
Low
Risk / return
High
Timeframe and fund charges
Minimum investment timeframe
N/A
Estimated annual fund charge⁴
0.79%
+ $36 admin fee
Generate 10 year returns as at 31 Oct 2023. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.
The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).
The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 31 March 2023. A combination of market index returns (from 31 March 2018 to 16 May 2022) and actual returns (from 16 May 2022 to 31 March 2023) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.
Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.
See the Scheme’s Statement of Investment Policy and Objectives (SIPO).
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