Generate Investment Management Limited
Stepping Stones 36-45
Generate KiwiSaver SchemeGrowth
What the provider says about this fund
The Stepping Stones 36-45 years old investment option aims to provide 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 to income assets. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times.
1-year return
7.18%
5-year return p.a.
5.54%
Total annual fee
1.37%
Fund size ($m)
72.7
Members
1,947
Inception date
16 April 2013
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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7
Lower riskHigher risk
Investment mix
Growth assets
82.50%
Income assets
17.50%
| Asset class | Actual | Target | Average for Growth funds |
|---|---|---|---|
| Australasian shares | 24.94% | 27.00% | 20.20% |
| Cash and equivalents | 2.90% | 5.00% | 6.14% |
| International bonds | 3.08% | 5.25% | 8.75% |
| International shares | 51.48% | 50.00% | 51.02% |
| Listed property | 5.77% | 3.00% | 3.65% |
| New Zealand bonds | 11.52% | 9.75% | 7.35% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Nvidia | Shares | International Equities | US | 4.64% |
| 2 | Te Ahumairangi Global Equity Fund | Shares | International Equities | NZ | 3.70% |
| 3 | Microsoft Corp | Shares | International Equities | US | 3.54% |
| 4 | Amazon.Com Inc | Shares | International Equities | US | 3.20% |
| 5 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 3.19% |
| 6 | Infratil Ltd | Shares | Australasian Equities | NZ | 3.15% |
| 7 | Meta Platforms Inc | Shares | International Equities | US | 2.39% |
| 8 | Alphabet Inc Class A | Shares | International Equities | US | 2.31% |
| 9 | Contact Energy Ltd | Shares | Australasian Equities | NZ | 2.07% |
| 10 | Apple Inc | Shares | International Equities | US | 1.99% |
Fees
1.37% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Growth funds |
|---|---|---|---|
| Management fees | 1.16% | $348 | 0.92% |
| Other fees | 0.09% | $27 | 0.10% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.37% | $411 | 1.07% |
Yearly returns
| Year ending | Fund return | Average for Growth funds |
|---|---|---|
| 31 March 2017 | 5.29% | 8.61% |
| 31 March 2018 | 9.81% | 7.38% |
| 31 March 2019 | 8.36% | 7.03% |
| 31 March 2020 | -0.04% | -3.37% |
| 31 March 2021 | 22.18% | 28.64% |
| 31 March 2022 | 0.12% | 2.17% |
| 31 March 2023 | -2.28% | -3.69% |
| 31 March 2024 | 19.42% | 14.25% |
| 31 March 2025 | 4.56% | 3.98% |
| 31 March 2026 | 7.18% | 7.60% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Andrew Bolland | Portfolio Manager - Property & Infrastructure, Australasian Equities | 6 years, 9 months |
| Ayrton Oliver | Portfolio Manager - Fixed Income | 5 years |
| Daniel Frost | Portfolio Manager - Property & Infrastructure, Australasian Equities | 8 years, 2 months |
| Nathan Field | Portfolio Manager - Global Equities | 3 years, 1 month |
| Sam Goldwater | Chief Investment Officer/Investment Committee Member/Executive Director | 13 years |