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Generate KiwiSaver Scheme

Make a smart decision with your KiwiSaver investment and save for the retirement lifestyle you deserve.

You've got choices

Explore our funds

Choosing the KiwiSaver fund that’s right for your savings goals is an important decision. Each of our six funds has a different investment strategy and risk profile, which will produce different returns. Our Stepping Stones options take the hassle out of choosing the right Generate KiwiSaver fund, as these options select a fund based on your age, and automatically adjust as you get older.

Which fund is right for you?

Our KiwiSaver calculator can help you select the best fund for your situation, whether you’re saving for your first home or retirement.

Defensive

A stable return over the very short term. It invests in an actively managed portfolio made up entirely of income assets, for those who need certainty of the amount able to be withdrawn.

The target investments for this fund are

100%

Income assets

0%

Growth assets

Fund performance¹

—

10 year return

Risk indicator²

1

2

3

4

5

6

7

Low

Risk / return

High

Timeframe and fund charges

Minimum investment timeframe

N/A

Estimated annual fund charge⁴

0.79%

+ $36 admin fee

Conservative

A modest return over the short term. It invests in an actively managed portfolio made up largely of income assets with a small allocation of growth assets.

The target investments for this fund are

80%

Income assets

20%

Growth assets

Fund performance¹

—

10 year return

Risk indicator²

1

2

3

4

5

6

7

Low

Risk / return

High

Timeframe and fund charges

Minimum investment timeframe

2 years

Recommended

Estimated annual fund charge⁴

1.09%

+ $36 admin fee

Moderate

A modest to medium return over the short to medium term. It invests in an actively managed portfolio made up of slightly more income assets than growth assets.

The target investments for this fund are

60%

Income assets

40%

Growth assets

Fund performance¹

6.04%

10 year return

Risk indicator²

1

2

3

4

5

6

7

Low

Risk / return

High

Timeframe and fund charges

Minimum investment timeframe

3 years

Recommended

Estimated annual fund charge⁴

1.14%

+ $36 admin fee

Balanced

A medium return over the medium term. It invests in an actively managed portfolio made up of slightly more growth assets than income assets.

The target investments for this fund are

40%

Income assets

60%

Growth assets

Fund performance¹

—

10 year return

Risk indicator²

1

2

3

4

5

6

7

Low

Risk / return

High

Timeframe and fund charges

Minimum investment timeframe

5 years

Recommended

Estimated annual fund charge⁴

1.25%

+ $36 admin fee

Growth

A high return over the medium to long term. It invests in an actively managed portfolio made up largely of growth assets with a small allocation of income assets.

The target investments for this fund are

20%

Income assets

80%

Growth assets

Fund performance¹

9.4%

10 year return

Risk indicator²

1

2

3

4

5

6

7

Low

Risk / return

High

Timeframe and fund charges

Minimum investment timeframe

7 years

Recommended

Estimated annual fund charge⁴

1.28%

+ $36 admin fee

Focused Growth

A higher return over the long term. It invests in an actively managed portfolio made up predominately of growth assets with a minor allocation of income assets.

The target investments for this fund are

5%

Income assets

95%

Growth assets

Fund performance¹

10.21%

10 year return

Risk indicator²

1

2

3

4

5

6

7

Low

Risk / return

High

Timeframe and fund charges

Minimum investment timeframe

8 years

Recommended

Estimated annual fund charge⁴

1.31%

+ $36 admin fee

Defensive

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.

This fund is invested in

100%

Income assets

These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.

0%

Growth assets

These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.

Fund performance¹

—

10 year return

Timeframe and fund charges

Minimum investment timeframe

N/A

Estimated annual fund charge⁴

0.79%

+ $36 admin fee

Target investment mix²

This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.

Cash 25%

Fixed income 75%

Risk indicator³

The risk category is calculated based on the volatility of past returns over five years.

1

2

3

4

5

6

7

Low

Risk / return

High

Disclaimers:

  1. Generate 10 year returns as at 30 November 2024. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.

  • The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).

  • The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 30 June 2024. A combination of market index returns (from 31 March 2019 to 16 May 2022) and actual returns (from 16 May 2022 to 30 June 2024) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.

  • Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.

  • See the Scheme’s Statement of Investment Policy and Objectives (SIPO).

    • Conservative

    The Conservative Fund aims to provide a modest return over the short term. It invests in an actively managed portfolio made up largely of income assets with a small allocation of growth assets. Volatility is likely to be low to medium. Returns will vary and may be low or negative at times.


    This fund is invested in

    80%

    Income assets

    These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.

    20%

    Growth assets

    These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.

    Fund performance¹

    —

    10 year return

    Timeframe and fund charges

    Minimum investment timeframe

    2 years

    Recommended

    Estimated annual fund charge⁴

    1.09%

    + $36 admin fee

    Target investment mix²

    This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.

    Cash 5%

    Fixed income 75%

    Property & Infrastructure⁵ 6.75%

    Australasian equities 6.75%

    International equities 6.5%

    Risk indicator³

    The risk category is calculated based on the volatility of past returns over five years.

    1

    2

    3

    4

    5

    6

    7

    Low

    Risk / return

    High

    Disclaimers:

    1. Generate 10 year returns as at 30 November 2024. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.

  • The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).

  • The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 30 June 2024. A combination of market index returns (from 31 March 2019 to 16 May 2022) and actual returns (from 16 May 2022 to 30 June 2024) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.

  • Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.

  • See the Scheme’s Statement of Investment Policy and Objectives (SIPO).

    • Moderate

    The Moderate Fund aims to provide a modest to medium return over the short to medium term. It invests in an actively managed portfolio made up of slightly more income assets than growth assets. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times. 

    This fund is invested in

    60%

    Income assets

    These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.

    40%

    Growth assets

    These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.

    Fund performance¹

    6.04%

    10 year return

    Timeframe and fund charges

    Minimum investment timeframe

    3 years

    Recommended

    Estimated annual fund charge⁴

    1.14%

    + $36 admin fee

    Target investment mix²

    This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.

    Cash 5%

    Fixed income 55%

    Property & Infrastructure⁵ 12%

    Australasian equities 12%

    International equities 16%

    Risk indicator³

    The risk category is calculated based on the volatility of past returns over five years.

    1

    2

    3

    4

    5

    6

    7

    Low

    Risk / return

    High

    Disclaimers:

    1. Generate 10 year returns as at 30 November 2024. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.

  • The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).

  • The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 30 June 2024. A combination of market index returns (from 31 March 2019 to 16 May 2022) and actual returns (from 16 May 2022 to 30 June 2024) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.

  • Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.

  • See the Scheme’s Statement of Investment Policy and Objectives (SIPO).

    • Balanced

    The Balanced Fund aims to provide a medium return over the medium term. It invests in an actively managed portfolio made up of slightly more growth assets than income assets. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times.


    This fund is invested in

    40%

    Income assets

    These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.

    60%

    Growth assets

    These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.

    Fund performance¹

    —

    10 year return

    Timeframe and fund charges

    Minimum investment timeframe

    5 years

    Recommended

    Estimated annual fund charge⁴

    1.25%

    + $36 admin fee

    Target investment mix²

    This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.

    Cash 5%

    Fixed income 35%

    Property & Infrastructure⁵ 15%

    Australasian equities 15%

    International equities 30%

    Risk indicator³

    The risk category is calculated based on the volatility of past returns over five years.

    1

    2

    3

    4

    5

    6

    7

    Low

    Risk / return

    High

    Disclaimers:

    1. Generate 10 year returns as at 30 November 2024. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.

  • The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).

  • The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 30 June 2024. A combination of market index returns (from 31 March 2019 to 16 May 2022) and actual returns (from 16 May 2022 to 30 June 2024) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.

  • Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.

  • See the Scheme’s Statement of Investment Policy and Objectives (SIPO).

    • Growth

    The Growth Fund aims to provide a high return over the medium to long term. It invests in an actively managed portfolio made up largely of growth assets with a small allocation of income assets. Volatility is likely to be high. Returns will vary and may be low or negative at times. 


    This fund is invested in

    20%

    Income assets

    These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.

    80%

    Growth assets

    These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.

    Fund performance¹

    9.4%

    10 year return

    Timeframe and fund charges

    Minimum investment timeframe

    7 years

    Recommended

    Estimated annual fund charge⁴

    1.28%

    + $36 admin fee

    Target investment mix²

    This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.

    Cash 5%

    Fixed income 15%

    Property & Infrastructure⁵ 16.25%

    Australasian equities 16.25%

    International equities 47.5%

    Risk indicator³

    The risk category is calculated based on the volatility of past returns over five years.

    1

    2

    3

    4

    5

    6

    7

    Low

    Risk / return

    High

    Disclaimers:

    1. Generate 10 year returns as at 30 November 2024. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.

  • The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).

  • The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 30 June 2024. A combination of market index returns (from 31 March 2019 to 16 May 2022) and actual returns (from 16 May 2022 to 30 June 2024) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.

  • Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.

  • See the Scheme’s Statement of Investment Policy and Objectives (SIPO).

    • Focused Growth

    The Generate KiwiSaver Focused Growth Fund (Focused Growth Fund) aims to provide a higher return over the long term. It invests in an actively managed portfolio made up predominately of growth assets with a minor allocation of income assets. Volatility is likely to be the highest of the funds.

    This fund is invested in

    5%

    Income assets

    These investments generate income in the form of interest payments e.g., cash, term deposits and bonds.

    95%

    Growth assets

    These investments generate a return from both capital growth and dividends e.g. shares, property and infrastructure.

    Fund performance¹

    10.21%

    10 year return

    Timeframe and fund charges

    Minimum investment timeframe

    8 years

    Recommended

    Estimated annual fund charge⁴

    1.31%

    + $36 admin fee

    Target investment mix²

    This shows the ‘target’ amount of funds we plan to invest in different kinds of income or growth assets.

    Cash 5%

    Property & Infrastructure⁵ 15%

    Australasian equities 15%

    International equities 65%

    Risk indicator³

    The risk category is calculated based on the volatility of past returns over five years.

    1

    2

    3

    4

    5

    6

    7

    Low

    Risk / return

    High

    Disclaimers:

    1. Generate 10 year returns as at 30 November 2024. 10 year returns are not available for the Generate Defensive, Conservative and Balanced Funds, as these funds only launched in May 2022. Past performance is not a reliable indicator of future returns.

  • The actual investment mix may vary from the target asset allocation as we pursue tactical investment opportunities, or as we seek to protect asset values in periods of market volatility. For further information about the funds’ investment activities see the Statement of Investment Policy and Objectives (SIPO).

  • The risk indicator for each investment option is calculated based on the volatility of past returns over five years ended 30 June 2024. A combination of market index returns (from 31 March 2019 to 16 May 2022) and actual returns (from 16 May 2022 to 30 June 2024) have been used to calculate the risk indicators for the Defensive, Conservative and Balanced Funds (as these funds have not been in existence for 5 years), and for the Moderate Fund (as the investment policy has changed significantly and its returns before the change would not reflect its current investment policy). This means that the risk indicators for these funds do not reflect the actual returns and may provide a less reliable indicator of the potential future volatility of the funds. See the PDS for more information.

  • Estimate for the year ahead. Annual fund charges for the fund are made up of: the base fund management fee; any third party underlying fund fees, and contains estimates. For details regarding the actual fund charges, see the latest fund update here. The $36 admin fee per year applies per member not per fund.

  • See the Scheme’s Statement of Investment Policy and Objectives (SIPO).

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    Why our KiwiSaver Scheme

    Consistent long-term performance*

    Exceptional and awarded service

    We're responsible investors^

    We're Kiwi owned and operated

    Disclaimers