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Generate KiwiSaver Scheme Growth Fund


Fund Manager Generate KiwiSaver - find out more here
Scheme Distributor Generate KiwiSaver - see other funds in your scheme
Distributor website
Fund type Growth - see other funds like this
Fund size 425.3 million as at Jun 19

Use the links below to jump quickly to a particular section:

This fund is benchmarked in the Growth category. See a definition of why this category has been chosen.

A: Performance On a Regular Savings basis


Fund performance is traditionally calculated on the change in unit price between two dates. This methodology ignores the fact a majority of members are making regular contributions from their wages or salary and receive additional employer and government contributions during the year. To provide a more representative way of illustrating returns over the long-term within KiwiSaver we developed a regular savings model which simulates the return on a KiwiSaver account based on the following set of characteristics and assumptions.

  • Was a full time worker, aged 28 when they established their KiwiSaver account in March 2008
  • Earns the median wage as determined by Stats NZ's LEEDS data series
  • Contributes the minimum sum prescribed and this is matched by the employer
  • ESCT deductions are made post March 2012
  • Prescribed Investor Rate (PIR) changes over time as the person shifts tax brackets
  • All fees not already accounted for are deducted on a monthly basis
  • The Kickstart bonus is received 3 months after joining and all Member Tax Credits are deposited in July
  • Use of Money interest is added at the prescribed rate on a monthly basis and deposited to the members account

Although the scenario outlined will not directly match that of readers, the main purpose of the regular savings calculation is to show how a specific fund is performing over the long term.

More information on our regular saving approach to performance reporting can be found here.

This fund is in the Growth category. as at
Fund return, since inception: 9.040% p.a. Jun 19
after fees and after taxes
This fund is ranked in class: 1st of 30*
which compares with best in category:
Generate KiwiSaver Scheme Growth Fund 9.040 %

*9 of the 30 funds in this category were not given a ranking because of insufficient data.

as at
Fund return, over past 3 years: 8.810% p.a. Jun 19
after fees and after taxes
This fund is ranked in class: 1st of 30*
which compares with best in category:
Generate KiwiSaver Scheme Growth Fund 8.810 %

*9 of the 30 funds in this category were not given a ranking because of insufficient data.

B: Returns Schemes providers report to the Financial Markets Authority (FMA)


The FMA under the KiwiSaver Periodic Disclosure Regulations require a Scheme to provide after tax and fee returns (excludes member fee) each quarter. The purpose of the KiwiSaver quarterly and annual disclosure statements is to ensure consistent and comparable information about KiwiSaver funds is publicly available on a regular basis, to enable investors to make more informed investment decisions.

The FMA does not provide any assurance to investors that the data submitted is accurate

Within each quarterly disclosure statement the Scheme provider must provide the after tax and fee returns for the past 12 months and the last quarter.

In the Annual Disclosure Statement the Scheme provider is required to provide the last 5 year returns to March 31 each year. The returns are shown as discrete period returns rather than being annualised. The Scheme provider will also show an average annual return which is the average of the discrete yearly returns rather than an actual annualised return for the fund over the five year period.

as at Jun 19 since inception 1 year
This fund: n/a n/a
After fees, before taxes


C: Asset Mix


The graph below illustrates the target asset allocation and the actual asset allocation as reported to the FMA in the Scheme's disclosure statements. Variances between the target and actual asset allocations should be expected from time to time depending on markets and the fund managers expectations around future returns and market conditions.

D: Fees & Expenses - Documented versus Actual


There are 3 types of fees and expenses which can be charged by a manager. Fixed dollar fees: these are charged on a monthly bais as member or administration fees (we show the annual amount) or are charged as a once off on certain events like switching funds within the Scheme. Percentage based fees: these are charged a monthly basis (again we show the annual amount), as a percentage of your fund balance, and go to pay the investment manager and trustee. And finally expenses: these are expenses like audit costs, and we have shown them on an annual percentage basis. To read more about fees and expenses, click here.

Alongside the fees listed in the investment statement we have included the latest fees charged by the Scheme provider for the fund as shown in the Periodic Disclosure Statements. This will provide readers with greater transparency around the actual percentage of fees they are being charged each year.

Fee Category Documented per Investment Statement Actual per Disclosure Statement
Management 1.570 % 1.680 %
Fixed Member or Admin (pa) $ 36.000 $ 36.000
Entry $ 0.000 $
Exit $ 0.000 $
Switch & Change $ 0.000 $
Early Withdrawal $ 0.000 $
Performance 0.000 % 0.000 %
Transfer $ 0.000 $
Account Closure $ 0.000 $