Funds

Kernel KiwiSaver NZ Small & Mid Cap Opportunities Fund

Total Ethical Concerns: 10.37%

The average total concerns of all KiwiSaver aggressive funds is 10.67%.

Companies of Concern

  • Fossil Fuels 5.55%

    • Channel Infrastructure
      5.55%
      5.55%
  • Environmental Harm 4.82%

    • Fonterra
      4.82%
      4.82%

From the Fund Provider

  • About this fund

    About this Fund

    The fund is passively managed and invests in NZX listed financial products whose normal free-float market capitalisation is between $75 million and $1.25 billion and who are outside of the S&P/NZX 20 Index

    Value $387k NZD
    Period of data report 31st March 2025
    Members 62
    Fund started 11th April 2022
    Total annual fund fees 0.25%
    Total performance based fees 0.0%
    Manager's basic fee 0.25%
    Other management and administration charges 0.0%
    Total other charges 0.0
    Total other charges currency NZD

    Dean Anderson

    Currently: Chief Executive (6 years, 6 months)
    Previously: Smartshares Product Manager, NZX (4 years, 4 months)

    Stephen Upton

    Currently: Chief Operating Officer (5 years, 9 months)
    Previously: Smartshares Chief Operating Officer - NZX (3 years, 6 months)

    Kerry Mcintosh

    Currently: Chairman (5 years, 9 months)
    Previously: Operating Partner, Zino Ventures (current) (7 years, 1 months)

    Vicki Dale

    Currently: Investment Committee Member (2 years, 4 months)
    Previously: Risk and Compliance Manager, Kernel Wealth (current) (3 years, 5 months)

    Rhea Prasad

    Currently: Portfolio Manager (2 years, 4 months)
    Previously: Investment Dealer, Pie Funds (1 years, 3 months)

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    Past Returns

    Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

    Year Market Average Fund Annual Return
    2025 4.37% 7.3%
    2024 16.75% 0.78%

    The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Investments

    Top 10 Investments

    • Skellerup Holdings Ltd

      New Zealand Australasian Equities

      7.49%
    • Argosy Property Ltd

      New Zealand Australasian Equities

      6.74%
    • Vital Healthcare Property

      New Zealand Australasian Equities

      6.44%
    • Vista Group International Limited

      New Zealand Australasian Equities

      5.76%
    • Channel Infrastructure NZ Ltd

      New Zealand Australasian Equities

      5.55%
    • Heartland Group Holdings Limited

      New Zealand Australasian Equities

      5.27%
    • Stride Property Limited

      New Zealand Australasian Equities

      5.03%
    • Fonterra Shareholders' Fund

      New Zealand Australasian Equities

      4.82%
    • Vulcan Steel Ord (NZ Registry)

      New Zealand Australasian Equities

      4.53%
    • NZX Limited

      New Zealand Australasian Equities

      4.18%
    Type Target Actual
    Cash and Cash Equivalents 0.0% 0.02%
    New Zealand Fixed Interest 0.0% 0.0%
    International Fixed Interest 0.0% 0.0%
    Australasian Equities 100.0% 99.98%
    International Equities 0.0% 0.0%
    Listed Properties 0.0% 0.0%
    Unlisted Properties 0.0% 0.0%
    Other 0.0% 0.0%
    Commodities 0.0% 0.0%

    Investment Mix

    How the money in this fund is invested by asset type.

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31st March 2025 and Mindful Money analysis of funds within those portfolios. The list of companies of concern has been drawn from ratings agencies and public sources, including the Norwegian Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.

Please note that companies may breach more than one of these areas of concern.

The listing of companies of concern is based on definitions used in Mindful Money's methodology. These definitions may be different from the exclusions policy and definitions applied by the fund provider.

Mindful Money uses the term Mindful Funds as our standard for ethical investment and responsible investment. This does not imply that other funds are unethical or that the fund providers that do not meet these standards are unethical providers.

Issues of Concern

  • 0.0% Animal Cruelty
  • 0.0% Human Rights Violations
  • 0.0% Social Harm
  • 5.55% Fossil Fuels
  • 0.0% Weapons
  • 4.82% Environmental Harm

Companies of Concern

  • Fossil Fuels

    • Channel Infrastructure
      5.55%
      5.55%
  • Environmental Harm

    • Fonterra
      4.82%
      4.82%

About this Fund

The fund is passively managed and invests in NZX listed financial products whose normal free-float market capitalisation is between $75 million and $1.25 billion and who are outside of the S&P/NZX 20 Index

Value $387k NZD
Period of data report 31st March 2025
Members 62
Fund started 11th April 2022
Total annual fund fees 0.25%
Total performance based fees 0.0%
Manager's basic fee 0.25%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Dean Anderson

Currently: Chief Executive (6 years, 6 months)
Previously: Smartshares Product Manager, NZX (4 years, 4 months)

Stephen Upton

Currently: Chief Operating Officer (5 years, 9 months)
Previously: Smartshares Chief Operating Officer - NZX (3 years, 6 months)

Kerry Mcintosh

Currently: Chairman (5 years, 9 months)
Previously: Operating Partner, Zino Ventures (current) (7 years, 1 months)

Vicki Dale

Currently: Investment Committee Member (2 years, 4 months)
Previously: Risk and Compliance Manager, Kernel Wealth (current) (3 years, 5 months)

Rhea Prasad

Currently: Portfolio Manager (2 years, 4 months)
Previously: Investment Dealer, Pie Funds (1 years, 3 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

Past Returns

Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

Year Market Average Fund Annual Return
2025 4.37% 7.3%
2024 16.75% 0.78%

The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

Top 10 Investments

  • Skellerup Holdings Ltd

    New Zealand Australasian Equities

    7.49%
  • Argosy Property Ltd

    New Zealand Australasian Equities

    6.74%
  • Vital Healthcare Property

    New Zealand Australasian Equities

    6.44%
  • Vista Group International Limited

    New Zealand Australasian Equities

    5.76%
  • Channel Infrastructure NZ Ltd

    New Zealand Australasian Equities

    5.55%
  • Heartland Group Holdings Limited

    New Zealand Australasian Equities

    5.27%
  • Stride Property Limited

    New Zealand Australasian Equities

    5.03%
  • Fonterra Shareholders' Fund

    New Zealand Australasian Equities

    4.82%
  • Vulcan Steel Ord (NZ Registry)

    New Zealand Australasian Equities

    4.53%
  • NZX Limited

    New Zealand Australasian Equities

    4.18%
Type Target Actual
Cash and Cash Equivalents 0.0% 0.02%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 100.0% 99.98%
International Equities 0.0% 0.0%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

Investment Mix

How the money in this fund is invested by asset type.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.