Generate Investment Management Limited
Stepping Stones 56-60
Generate KiwiSaver SchemeBalanced
What the provider says about this fund
The Stepping Stones 56-60 years old investment option aims to provide 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. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times.
1-year return
5.49%
5-year return p.a.
4.00%
Total annual fee
1.31%
Fund size ($m)
38.4
Members
703
Inception date
16 April 2013
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Lower riskHigher risk
Investment mix
Growth assets
51.08%
Income assets
48.92%
| Asset class | Actual | Target | Average for Balanced funds |
|---|---|---|---|
| Australasian shares | 14.24% | 15.75% | 13.93% |
| Cash and equivalents | 5.48% | 5.00% | 7.91% |
| International bonds | 9.17% | 15.75% | 19.39% |
| International shares | 33.30% | 32.50% | 35.53% |
| Listed property | 3.36% | 1.75% | 2.24% |
| New Zealand bonds | 34.27% | 29.25% | 18.91% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Nvidia | Shares | International Equities | US | 3.10% |
| 2 | ASB NZ Dollar Cash Account | Cash | Cash and Cash Equivalents | NZ | 2.61% |
| 3 | Microsoft Corp | Shares | International Equities | US | 2.40% |
| 4 | Amazon.Com Inc | Shares | International Equities | US | 2.18% |
| 5 | HOUSNZ Apr 2030 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.91% |
| 6 | Fisher & Paykel Healthcare Ltd | Shares | Australasian Equities | NZ | 1.86% |
| 7 | Infratil Ltd | Shares | Australasian Equities | NZ | 1.72% |
| 8 | Meta Platforms Inc | Shares | International Equities | US | 1.64% |
| 9 | Alphabet Inc Class A | Shares | International Equities | US | 1.59% |
| 10 | Te Ahumairangi Global Equity Fund | Shares | International Equities | NZ | 1.46% |
Fees
1.31% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Balanced funds |
|---|---|---|---|
| Management fees | 1.14% | $342 | 0.77% |
| Other fees | 0.05% | $15 | 0.09% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.31% | $393 | 0.91% |
Yearly returns
| Year ending | Fund return | Average for Balanced funds |
|---|---|---|
| 31 March 2017 | 2.60% | 6.00% |
| 31 March 2018 | 5.77% | 5.23% |
| 31 March 2019 | 7.32% | 5.82% |
| 31 March 2020 | 0.99% | -1.40% |
| 31 March 2021 | 14.21% | 18.18% |
| 31 March 2022 | 0.17% | 0.77% |
| 31 March 2023 | -1.10% | -2.77% |
| 31 March 2024 | 11.81% | 10.89% |
| 31 March 2025 | 4.09% | 4.36% |
| 31 March 2026 | 5.49% | 6.36% |
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 |