Generate Investment Management Limited
Stepping Stones 65-75
Generate KiwiSaver SchemeConservative
What the provider says about this fund
The Stepping Stones 65-75 years old investment option aims to provide a modest 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 low to medium. Returns will vary and may be low or negative at times.
1-year return
4.00%
5-year return p.a.
2.32%
Total annual fee
1.23%
Fund size ($m)
16.3
Members
357
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
30.05%
Income assets
69.95%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 8.55% | 9.90% | 5.79% |
| Cash and equivalents | 7.05% | 5.00% | 20.22% |
| International bonds | 13.28% | 22.75% | 27.47% |
| International shares | 19.28% | 19.00% | 14.45% |
| Listed property | 2.11% | 1.10% | 1.47% |
| New Zealand bonds | 49.62% | 42.25% | 29.28% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | ASB NZ Dollar Cash Account | Cash | Cash and Cash Equivalents | NZ | 3.25% |
| 2 | HOUSNZ Apr 2030 bonds | Bonds | New Zealand Fixed Interest | NZ | 2.77% |
| 3 | HOUSNZ Sep 2035 bonds | Bonds | New Zealand Fixed Interest | NZ | 2.01% |
| 4 | Nvidia | Shares | International Equities | US | 1.88% |
| 5 | Microsoft Corp | Shares | International Equities | US | 1.48% |
| 6 | Amazon.Com Inc | Shares | International Equities | US | 1.35% |
| 7 | NZLGA Apr 2033 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.32% |
| 8 | Community Housing FA Sep 2032 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.32% |
| 9 | The Indi Warehouse Trust 2025-1 Class Mezzanine | Bonds | New Zealand Fixed Interest | NZ | 1.26% |
| 10 | NZLGA Apr 2037 bonds | Bonds | New Zealand Fixed Interest | NZ | 1.21% |
Fees
1.23% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 1.09% | $327 | 0.70% |
| Other fees | 0.02% | $6 | 0.11% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 1.23% | $369 | 0.86% |
Yearly returns
| Year ending | Fund return | Average for Conservative funds |
|---|---|---|
| 31 March 2024 | 8.26% | 6.61% |
| 31 March 2025 | 4.20% | 3.59% |
| 31 March 2026 | 4.00% | 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 |