Funds

This is a Mindful fund Generate KiwiSaver CashPlus Fund

Fund type: Defensive fund

Past Returns: *4.39%
Returns are the average of the latest 3 years of data reported, 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.

Total Ethical Concerns: 0.82%

The average total concerns of all KiwiSaver defensive funds is 0.86%.

Companies of Concern

  • Environmental Harm 0.82%

    • Fonterra
      0.82%
      0.82%

From the Fund Provider

  • About this fund

    About this Fund

    Fund type: Defensive fund

    Past Returns: *4.39%
    Returns are the average of the latest 3 years of data reported, 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 $81.2M NZD
    Period of data report 31st March 2025
    Members 2,316
    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 (12 years, 0 months)
    Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)

    Daniel Frost

    Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (7 years, 2 months)
    Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

    Andrew Bolland

    Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (5 years, 9 months)
    Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

    Ayrton Oliver

    Currently: Portfolio Manager - Fixed Income (4 years, 0 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 (2 years, 1 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 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 3.81% 4.83%
    2024 3.51% 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 March 2025.

  • Investments

    Top 10 Investments

    • ASB NZ Dollar Cash Account

      New Zealand Cash and Equivalents A1

      24.72%

    • Kāinga Ora Sep 2035 Bonds

      New Zealand NZ Fixed Interest AAA

      2.27%

    • Nzlga May 2031 Bonds

      New Zealand NZ Fixed Interest AAA

      2.14%

    • Kāinga Ora Apr 2030 Bonds

      New Zealand NZ Fixed Interest AAA

      2.08%

    • Salvation Army Sep 2025 Bonds

      New Zealand NZ Fixed Interest

      1.69%

    • NZ Govt Bond Apr 2033 Bonds

      New Zealand NZ Fixed Interest AAA

      1.56%

    • Westpac Feb 2034 Bonds

      New Zealand NZ Fixed Interest A

      1.45%

    • NZ Govt Inflation Sep 2035 Bonds

      New Zealand NZ Fixed Interest AAA

      1.43%

    • ANZ Au Jan 2035 Bonds

      Australia Int Fixed Interest A-

      1.38%

    • Auckland International Airport Dec 2031

      New Zealand NZ Fixed Interest A-

      1.35%
    Type Target Actual
    Cash and Cash Equivalents 25.0% 25.58%
    New Zealand Fixed Interest 60.0% 63.22%
    International Fixed Interest 15.0% 11.2%
    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 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
  • 0.0% Fossil Fuels
  • 0.0% Weapons
  • 0.82% Environmental Harm

Companies of Concern

  • Environmental Harm

    • Fonterra
      0.82%
      0.82%

About this Fund

Fund type: Defensive fund

Past Returns: *4.39%
Returns are the average of the latest 3 years of data reported, 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 $81.2M NZD
Period of data report 31st March 2025
Members 2,316
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 (12 years, 0 months)
Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)

Daniel Frost

Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (7 years, 2 months)
Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

Andrew Bolland

Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (5 years, 9 months)
Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

Ayrton Oliver

Currently: Portfolio Manager - Fixed Income (4 years, 0 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 (2 years, 1 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 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 3.81% 4.83%
2024 3.51% 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 March 2025.

Top 10 Investments

  • ASB NZ Dollar Cash Account

    New Zealand Cash and Equivalents A1

    24.72%

  • Kāinga Ora Sep 2035 Bonds

    New Zealand NZ Fixed Interest AAA

    2.27%

  • Nzlga May 2031 Bonds

    New Zealand NZ Fixed Interest AAA

    2.14%

  • Kāinga Ora Apr 2030 Bonds

    New Zealand NZ Fixed Interest AAA

    2.08%

  • Salvation Army Sep 2025 Bonds

    New Zealand NZ Fixed Interest

    1.69%

  • NZ Govt Bond Apr 2033 Bonds

    New Zealand NZ Fixed Interest AAA

    1.56%

  • Westpac Feb 2034 Bonds

    New Zealand NZ Fixed Interest A

    1.45%

  • NZ Govt Inflation Sep 2035 Bonds

    New Zealand NZ Fixed Interest AAA

    1.43%

  • ANZ Au Jan 2035 Bonds

    Australia Int Fixed Interest A-

    1.38%

  • Auckland International Airport Dec 2031

    New Zealand NZ Fixed Interest A-

    1.35%
Type Target Actual
Cash and Cash Equivalents 25.0% 25.58%
New Zealand Fixed Interest 60.0% 63.22%
International Fixed Interest 15.0% 11.2%
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 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.