Generate Kiwisaver Scheme
Stepping Stones 65-75
The Smiths take
Stepping Stones 65-75 Smiths Rating B
Smiths' editorial rating, our internal opinion based on 10-year returns, fees, and risk band fit. Not a formal credit rating or regulated star rating.
Smiths reviews this fund against every other conservative option in NZ on net-of-fees returns, total fees, and band fit. The full Sorted snapshot is below.
General information only · Past performance is not a reliable indicator of future performance · For personal advice please contact us.
At a glance
This fund is for investors seeking
Three quick reads for whether the Stepping Stones 65-75 fits your situation.
A 3+ years timeframe
This is a conservative KiwiSaver fund. The provider's recommended minimum holding period sits in the 3+ years range.
A moderate-risk investment
Sorted's risk indicator places this at 3 on a 1–7 scale. Smaller swings, lower long-term returns.
Income-leaning mix
31% growth assets (shares, property) and 69% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
31.48% / 68.52%
Growth / Income · avg 23.01% / 76.99%
Fees
1.23%
$369 on $30k · avg 3.44%
What the provider says
In their own words
“The Stepping Stones 65-75 years old investment option aims to provide a modest 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.”
- Fund start date
- 16 May 2022
- Withdrawal rules
- This is a KiwiSaver fund. generally you can withdraw only to purchase a first home, after the age of 65, or in cases of significant financial hardship.
Asset mix
What this fund actually holds
Growth assets are 31.48% of the fund, income assets the rest. The mix is the latest snapshot from Sorted, with the average for this risk band's KiwiSaver funds shown alongside.
- Sharesthis fundavg
28.96%
avg 20.31%
- Propertythis fundavg
2.52%
avg 2.07%
- Otherthis fundavg
0.00%
avg 0.63%
- Bondsthis fundavg
59.96%
avg 56.62%
- Cashthis fundavg
8.56%
avg 20.37%
What it owns
Top 10 holdings. 17.30% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Asb Nz Dollar Cash Account
Cash
Cash and Cash EquivalentsNZ2.83%Housnz Apr 2030 Bonds
Bonds
New Zealand Fixed InterestNZ2.80%Nzlga Apr 2033 Bonds
Bonds
New Zealand Fixed InterestNZ2.07%Housnz Sep 2035 Bonds
Bonds
New Zealand Fixed InterestNZ2.06%Alphabet Inc Class C
Shares
International EquitiesUS1.31%Microsoft Corp
Shares
International EquitiesUS1.28%Amazon.Com Inc
Shares
International EquitiesUS1.26%Watercare Services Sep 2030 Bonds
Bonds
New Zealand Fixed InterestNZ1.25%Nzlga May 2031 Bonds
Bonds
New Zealand Fixed InterestNZ1.23%Contact Energy Dec 2031 Bonds
Bonds
New Zealand Fixed InterestNZ1.21%
Fees breakdown
What you actually pay
Modelled on a $30,000 balance held for one full year. Each line shows this fund's % and dollar cost vs. the average for funds in the same risk band.
Management
Charged by the fund manager, % of your balance.
1.09%
avg 0.70%
$327
avg $210
+0.39%Other
Other potential costs not in the categories below.
28.96%
avg 20.31%
-
avg -
+8.65%Performance-based
Higher when the fund (or underlying fund) performs well.
0.00%
avg -
$0
avg -
Membership
A flat annual fee, regardless of balance or performance.
0.12%
avg 0.05%
$36
avg $15
+0.07%
Total combined fees
Doesn't include fees for one-off activities like transferring or withdrawing.
1.23%
avg 3.44%
$369
avg $1,031
Yearly returns
2 years on the books
This fund hasn't had a full five-year history yet. Below is the year-by-year story so far, with the group average alongside.
Returns: living in the past
Seeking returns is the point of investing, but the ones shown above are already gone. they won't continue. Pick a fund based on the right mix for your situation and reasonable fees, not on past returns.
Risk indicator
Sorted risk rating: 3 of 7
The Sorted risk indicator is calculated from the last 5 years of price volatility. Higher = more ups and downs but typically higher long-term returns.
Fund details
The unsexy stats that matter
- Total fund value
- $16,485,852
- Members
- 346
- Asset liquidity ratio
- 94.61%
- Debt ratio
- 0.31%
- Default KiwiSaver fund
- No
- Fund reference
- FND39258
Manager
Generate Kiwisaver Scheme
Licensed with the Financial Markets Authority.
- NZBN
- 9429030374034
- FSP number
- FSP271005
Smiths Health Check
Is the Stepping Stones 65-75 actually the right fund for you?
Take the 90-second Health Check. We'll grade your current setup, tell you what it's costing you, and recommend the best fit from our advised panel, benchmarked against every fund in the directory, not just generate.
Our directory covers every NZ KiwiSaver fund. Our advice panel is five schemes (ANZ, Booster, Fisher Funds, Generate, Milford); recommendations land on four funds across Milford and Booster — how we're paid →