Funds

This is a Mindful fund Generate Defensive Fund

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Issues of concern

The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.

This fund has no investments in issues of concern

Key:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

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 2024 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.

About this fund

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 $47.7M NZD
Period of data report 30th June 2024
Members 1,597
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, 3 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, 5 months)
Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

Andrew Bolland

Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (5 years, 0 months)
Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

Ayrton Oliver

Currently: Portfolio Manager - Fixed Income (3 years, 3 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, 4 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 30th June 2024.

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 30th June 2024.

Top 10 Investments

  • ASB NZ Dollar Cash Account
    New Zealand Cash and Equivalents A1
    20.08%
  • Nzlga May 2031 Bonds
    New Zealand NZ Fixed Interest AAA
    2.65%
  • Kāinga Ora Apr 2030 Bonds
    New Zealand NZ Fixed Interest AAA
    2.6%
  • Kāinga Ora Sep 2035 Bonds
    New Zealand NZ Fixed Interest AAA
    2.05%
  • Nzlga Apr 2033 Bonds
    New Zealand NZ Fixed Interest AAA
    2.0%
  • Salvation Army Sep 2025 Bonds
    New Zealand NZ Fixed Interest
    1.88%
  • Westpac Feb 2034 Bonds
    New Zealand NZ Fixed Interest A-
    1.77%
  • NZ Govt Bond May 2030 Bonds
    New Zealand NZ Fixed Interest AAA
    1.56%
  • ANZ Au Jan 2034 Bonds
    Australia Int Fixed Interest BBB+
    1.54%
  • Nzlga May 2030 Bonds
    New Zealand NZ Fixed Interest AAA
    1.52%
Type Target Actual
Cash and Cash Equivalents 25.0% 18.93%
New Zealand Fixed Interest 60.0% 70.74%
International Fixed Interest 15.0% 10.33%
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 against the fund's targets.

Target

Actual

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30th June 2024.