Kernel Wealth Limited
Kernel NZ Bond Fund
Kernel KiwiSaver PlanDefensive
What the provider says about this fund
The Kernel NZ Bond Fund aims to equal or exceed the return (before fees and taxes) of the Bloomberg NZ Bond Composite 0+ Yr Index by investing mostly in New Zealand fixed interest-bearing assets.
1-year return
3.51%
5-year return p.a.
1.42%
Total annual fee
0.40%
Fund size ($m)
0.6
Members
58
Inception date
29 July 2024
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% |
| 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% |
| New Zealand bonds | 93.14% | 100.00% | 28.46% |
| 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 | NZGS 4.25% 15/05/2034 | Bonds | New Zealand Fixed Interest | NZ | 17.51% |
| 2 | NZGS 5.00% 15/05/2054 | Bonds | New Zealand Fixed Interest | NZ | 7.39% |
| 3 | NZGS 4.50% 15/05/2030 | Bonds | New Zealand Fixed Interest | NZ | 6.49% |
| 4 | NZGS 4.25% 15/05/2036 | Bonds | New Zealand Fixed Interest | NZ | 6.39% |
| 5 | NZ LGFA 4.50% 14/05/2032 | Bonds | New Zealand Fixed Interest | NZ | 5.04% |
| 6 | NZGS 3.00% 20/09/2030 | Bonds | New Zealand Fixed Interest | NZ | 4.89% |
| 7 | Dunedin City Treasury 5.55% 15/11/2028 | Bonds | New Zealand Fixed Interest | NZ | 4.75% |
| 8 | Wellington Intl Airport 3.32% 24/09/2031 | Bonds | New Zealand Fixed Interest | NZ | 3.47% |
| 9 | Watercare Services Ltd 3.847% 30 Sep 2030 | Bonds | New Zealand Fixed Interest | NZ | 3.24% |
| 10 | Kiwi Property Group 2.85% 19/07/2028 | Bonds | New Zealand Fixed Interest | NZ | 2.41% |
Fees
0.40% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.40% | $120 | 0.46% |
| Other fees | 0.00% | $0 | 0.06% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.40% | $120 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2026 | 3.51% | 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 |