Generate KiwiSaver Defensive Fund

From the Fund Provider

• About this fund

  About this Fund

  Fund type: Defensive fund

  Past Returns: *4.69%

  Average returns since the fund began, after fees and taxes. This fund does not yet have 3 years of data.

  
  Annual Fees: 0.79%

  Annual fees, including management and administration fees, but not membership fee. Please note that lower fees don’t always mean higher net returns.

  In their own words

  The Defensive Fund aims to provide a stable return over the very short term. It invests in an actively managed portfolio made up entirely of income assets. This fund is useful if you plan to withdraw your KiwiSaver funds within the next 12 months and need certainty of the amount you intend to withdraw, like for a deposit on a first home. Volatility is likely to be the lowest of the funds, however a negative return is still possible.
  
  Generate is an award-winning KiwiSaver and wealth provider with a track record of strong, long-term performance through responsible investment. Generate was awarded both Investor Choice and Adviser Choice Awards at the Research IP Funds Manager of the year awards 2022 and also received a Consumer NZ People’s Choice Award for KiwiSaver.

  Value	$57.7M NZD
  Period of data report	31st Dec. 2024
  Members	1,817
  Fund started	16th May 2022
  Total annual fund fees	0.79%
  Total performance based fees	0.0%
  Manager's basic fee	0.76%
  Other management and administration charges	0.03%
  Total other charges	36.0
  Total other charges currency	NZD

  Key Personnel

  Sam Goldwater	Currently: Chief Investment Officer/Investment Committee Member/Executive Director (11 years, 9 months) Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)
  Daniel Frost	Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (6 years, 11 months) Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)
  Andrew Bolland	Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (5 years, 6 months) Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)
  Ayrton Oliver	Currently: Portfolio Manager - Fixed Income (3 years, 9 months) Previously: Vice President, JP Morgan Chief Investment Office, International Rates and FX Portfolio Management (7 years, 0 months)
  Nathan Field	Currently: Portfolio Manager - Global Equities (1 years, 10 months) Previously: Portfolio Manager, Global Thematic Fund, Kiwi Wealth (13 years, 0 months)

  This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2024.

  • Product Disclosure Statement (PDS) v
  • Responsible Investment Policy v
  • Statement of Investment Policies and Objectives (SIPO) v
  • Portfolio Holdings v

• 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
  2024	3.40%	3.96%

  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 Dec. 2024.

• Investments

  Top 10 Investments

  • ASB NZ Dollar Cash Account

    New Zealand Cash and Equivalents A1

    25.98%

  • Kāinga Ora Sep 2035 Bonds

    New Zealand NZ Fixed Interest AAA

    2.4%

  • Nzlga May 2031 Bonds

    New Zealand NZ Fixed Interest AAA

    2.21%

  • Kāinga Ora Apr 2030 Bonds

    New Zealand NZ Fixed Interest AAA

    2.16%

  • Salvation Army Sep 2025 Bonds

    New Zealand NZ Fixed Interest

    1.77%

  • Westpac Feb 2034 Bonds

    New Zealand NZ Fixed Interest A

    1.53%

  • NZ Govt Inflation Sep 2035 Bonds

    New Zealand NZ Fixed Interest AAA

    1.49%

  • Meridian Mar 2030 Bonds

    New Zealand NZ Fixed Interest BBB+

    1.42%

  • Auckland International Airport Dec 2031

    New Zealand NZ Fixed Interest A-

    1.39%

  • Elim Education Oct 2026 Bonds

    New Zealand NZ Fixed Interest

    1.29%

  Type	Target	Actual
  Cash and Cash Equivalents	25.0%	26.1%
  New Zealand Fixed Interest	60.0%	64.52%
  International Fixed Interest	15.0%	9.38%
  Australasian Equities	0.0%	0.0%
  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 Dec. 2024.