Kernel Wealth Limited
Kernel Cash Plus Fund
Kernel KiwiSaver PlanDefensive
What the provider says about this fund
The fund is is designed to invest in short-term New Zealand interest-bearing assets and other cash and cash equivalent investments.
1-year return
2.56%
5-year return p.a.
1.42%
Total annual fee
0.25%
Fund size ($m)
13.3
Members
435
Inception date
7 November 2022
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
1
2
3
4
5
6
7
Lower riskHigher risk
Investment mix
Growth assets
0.00%
Income assets
100.00%
| Asset class | Actual | Target | Average for Defensive funds |
|---|---|---|---|
| Australasian shares | 0.00% | 0.00% | 0.11% |
| Cash and equivalents | 92.12% | 100.00% | 48.53% |
| Commodities | 0.00% | 0.00% | 0.00% |
| International bonds | 0.00% | 0.00% | 22.70% |
| International shares | 0.00% | 0.00% | 0.12% |
| Listed property | 0.00% | 0.00% | 0.09% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.05% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | Bank of China Deposit | Cash | Cash and Cash Equivalents | NZ | 14.95% |
| 2 | Kiwibank Ltd FRN 15/03/2028 | Cash | Cash and Cash Equivalents | NZ | 9.57% |
| 3 | Auckland Council FRN 04/10/2027 | Cash | Cash and Cash Equivalents | NZ | 5.14% |
| 4 | SBS Commercial Paper 3.5% 08/04/2026 | Cash | Cash and Cash Equivalents | NZ | 2.86% |
| 5 | Tax Traders 2.934% 09 Apr 2026 | Cash | Cash and Cash Equivalents | NZ | 2.62% |
| 6 | NZGT Tributum Ltd Commercial Paper 2.95% 28/04/2026 | Cash | Cash and Cash Equivalents | NZ | 2.57% |
| 7 | NZGT Tributum Ltd Commercial Paper 2.99% 29/06/2026 | Cash | Cash and Cash Equivalents | NZ | 2.56% |
| 8 | Transpower NZ Ltd FRN 31/07/2028 | Cash | Cash and Cash Equivalents | NZ | 2.50% |
| 9 | MTFGI FRN 24/11/2026 | Cash | Cash and Cash Equivalents | NZ | 2.40% |
| 10 | Kiwibank Ltd FRN 13/06/2028 | Cash | Cash and Cash Equivalents | NZ | 2.40% |
Fees
0.25% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.25% | $75 | 0.46% |
| Other fees | 0.00% | $0 | 0.06% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.25% | $75 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2024 | 4.64% | 3.49% |
| 31 March 2025 | 4.18% | 3.79% |
| 31 March 2026 | 2.56% | 2.09% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Dean Anderson | Chief Executive | 7 years, 6 months |
| Helen Skinner | Head of Distribution and Sustainability Strategy | 1 year |
| Kerry Mcintosh | Chairman | 6 years, 9 months |
| Matthew Winton | Portfolio Manager | 3 years, 10 months |
| Stephen Upton | Chief Operating Officer | 6 years, 9 months |