Kernel Wealth Limited
Kernel Conservative Fund
Kernel KiwiSaver PlanConservative
What the provider says about this fund
The Kernel Conservative Fund's investment objective is to provide a return (before tax, fees and expenses) that closely matches the return of the index of the reference portfolio. Investment strategy. Designed as a 30% growth / 70% income option by investing mainly in several of the other Kernel funds
5-year return p.a.
2.32%
Total annual fee
0.25%
Fund size ($m)
5.8
Members
102
Inception date
13 August 2025
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
29.95%
Income assets
70.05%
| Asset class | Actual | Target | Average for Conservative funds |
|---|---|---|---|
| Australasian shares | 6.29% | 6.00% | 5.79% |
| Cash and equivalents | 14.69% | 18.00% | 20.22% |
| Commodities | 0.00% | 0.00% | 0.07% |
| International bonds | 12.89% | 27.00% | 27.47% |
| International shares | 21.19% | 21.50% | 14.45% |
| Listed property | 2.47% | 2.50% | 1.47% |
| New Zealand bonds | 42.48% | 25.00% | 29.28% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.49% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | IShares Core US Aggregate Bond ETF | Bonds | International Fixed Interest | US | 12.89% |
| 2 | NZGS 4.25% 15/05/2034 | Bonds | New Zealand Fixed Interest | NZ | 7.80% |
| 3 | NZGS 5.00% 15/05/2054 | Bonds | New Zealand Fixed Interest | NZ | 3.29% |
| 4 | NZGS 4.50% 15/05/2030 | Bonds | New Zealand Fixed Interest | NZ | 2.95% |
| 5 | NZGS 4.25% 15/05/2036 | Bonds | New Zealand Fixed Interest | NZ | 2.84% |
| 6 | Bank of China Deposit | Cash | Cash and Cash Equivalents | NZ | 2.65% |
| 7 | NZGS 3.00% 20/09/2030 | Bonds | New Zealand Fixed Interest | NZ | 2.31% |
| 8 | NZ LGFA 4.50% 14/05/2032 | Bonds | New Zealand Fixed Interest | NZ | 2.24% |
| 9 | Dunedin City Treasury 5.55% 15/11/2028 | Bonds | New Zealand Fixed Interest | NZ | 2.18% |
| 10 | Wellington Intl Airport 3.32% 24/09/2031 | Bonds | New Zealand Fixed Interest | NZ | 1.55% |
Fees
0.25% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Conservative funds |
|---|---|---|---|
| Management fees | 0.25% | $75 | 0.70% |
| Other fees | 0.00% | $0 | 0.11% |
| Membership fees | 0.00% | $0 | 0.05% |
| Total combined fees | 0.25% | $75 | 0.86% |
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 |