We're excited to announce three new Generate KiwiSaver Scheme Funds!
Focused Growth Fund
Balanced Fund (New)
Moderate Fund - fund renamed, formerly called Conservative Fund
Conservative Fund (NEW)
Defensive Fund (NEW)
To see the details of these funds, click here
Or download the latest Generate KiwiSaver Scheme Product Disclosure Statement.
“We have always been strong in the growth end of the market; we’re very proud of our track record for long-term performance and the fact that 84% of our KiwiSaver member’s funds are invested in growth funds versus the industry average of 40%. Introducing three new funds means our range of funds now covers the full spectrum - so members looking to buy their first home or nearing retirement can have more certainty and protection from market volatility." Henry Tongue, Generate CEO.
Plus, we've lowered our fees!
We’re also pleased to share that we have lowered the fees for our funds. To see the new fees click here
What else has changed?
Changes to our old Conservative Fund:
Our old Conservative Fund has been renamed the Moderate Fund. And all units in the old Conservative Fund have become units in the Moderate Fund.
The Moderate Fund is slightly riskier than the old Conservative Fund, as the target asset allocation for 'growth assets' has increased from 32.5% to 40%.
However, we will not change the asset allocation for members invested in our old Conservative fund for two weeks from 16 May 2022. During these two weeks we recommend that members in our old Conservative Fund, review their fund selection and confirm which fund is right for their investment timeline and appetite for risk. After this two week period, we expect to make a gradual shift towards the new target asset allocation.
If you intend on withdrawing your KiwiSaver savings within the next 12 months, you may want to consider our new Defensive Fund or new Conservative Fund, to help protect your investment from short-term market volatility. For help choosing the right KiwiSaver Fund, take our KiwiSaver Survey or contact one of our friendly KiwiSaver Advisers on email@example.com.
Changes to our Growth Fund:
We’ve made a small change to our Growth Fund, changing the target investment for 'growth assets' from 82.5% to 80%.
Changes to our Stepping Stones investment strategies:
We've updated the investment strategies for our Stepping Stones and Stepping Stones Growth options to reflect our new funds. At a high-level, these changes make these investment options more growth orientated, which means they have the potential to earn higher returns over the long-term. However, this also increases their risk, so members who have chosen these options might see more ups and downs along the way. To see how Stepping Stones has changed, click here
What do Generate members need to do?
We’ve contacted the Generate members affected by these changes, with details on how their fund is changing. For members who are happy with these changes, there’s no action required.
Members who would like to change their fund selection, can request to switch to another fund in their Generate Online Account.
Note: If you intend on withdrawing your KiwiSaver savings within the next 12 months, you should consider our new Defensive Fund, to help protect your investment from short-term market volatility.
For help choosing the right KiwiSaver Fund, take our KiwiSaver Survey or contact one of our friendly KiwiSaver advisers on firstname.lastname@example.org.