Generate Investment Management Limited
Conservative Fund
Generate KiwiSaver SchemeConservative
What the provider says about this fund
The Conservative Fund aims to provide 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. Volatility is likely to be low to medium. Returns will vary and may be low or negative at times.
1-year return
3.26%
5-year return p.a.
2.32%
Total annual fee
1.20%
Fund size ($m)
162.4
Members
4,322
Inception date
16 May 2022
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
20.06%
Income assets
79.94%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 5.47% | 6.30% | 5.79% |
| Cash and equivalents | 7.49% | 5.00% | 20.22% |
| International bonds | 15.30% | 26.25% | 27.47% |
| International shares | 13.17% | 13.00% | 14.45% |
| Listed property | 1.35% | 0.70% | 1.47% |
| New Zealand bonds | 57.15% | 48.75% | 29.28% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | HOUSNZ Apr 2030 bonds | Bonds | New Zealand Fixed Interest | NZ | 3.19% |
| 2 | ASB NZ Dollar Cash Account | Cash | Cash and Cash Equivalents | NZ | 3.15% |
| 3 | HOUSNZ Sep 2035 bonds | Bonds | New Zealand Fixed Interest | NZ | 2.32% |
| 4 | NZLGA Apr 2033 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.53% |
| 5 | Community Housing FA Sep 2032 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.53% |
| 6 | The Indi Warehouse Trust 2025-1 Class Mezzanine | Bonds | New Zealand Fixed Interest | NZ | 1.45% |
| 7 | NZLGA Apr 2037 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.40% |
| 8 | ANZ AU Feb 2037 bonds | Bonds | International Fixed Interest | AU | 1.37% |
| 9 | NZ Govt Inflation Sep 2035 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.34% |
| 10 | BNZ Jan 2031 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.30% |
Fees
1.20% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 1.06% | $318 | 0.70% |
| Other fees | 0.02% | $6 | 0.11% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.20% | $360 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2024 | 6.63% | 6.61% |
| 31 March 2025 | 4.34% | 3.59% |
| 31 March 2026 | 3.26% | 3.96% |
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 |