Kernel Kiwisaver Plan
Kernel Cash Plus Fund
The Smiths take
Kernel Cash Plus Fund 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 defensive 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 Kernel Cash Plus Fund fits your situation.
A 1+ year timeframe
This is a defensive KiwiSaver fund. The provider's recommended minimum holding period sits in the 1+ year range.
A lower-risk investment
Sorted's risk indicator places this at 1 on a 1–7 scale. Smaller swings, lower long-term returns.
Mostly income assets
0% growth assets (shares, property) and 100% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
0.00% / 100.00%
Growth / Income · avg 0.36% / 99.64%
Fees
0.25%
$75 on $30k · avg 1.22%
What the provider says
In their own words
“The fund is is designed to invest in short-term New Zealand interest-bearing assets and other cash and cash equivalent investments.”
- Fund start date
- 7 November 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 0.00% 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
0.00%
avg 0.23%
- Propertythis fundavg
0.00%
avg 0.14%
- Otherthis fundavg
0.00%
avg 0.00%
- Bondsthis fundavg
6.17%
avg 50.54%
- Cashthis fundavg
93.84%
avg 49.09%
What it owns
Top 10 holdings. 52.00% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Bank Of China Deposit
Cash
Cash and Cash EquivalentsNZ14.93%Kiwibank Ltd Frn 15/03/2028
Cash
Cash and Cash EquivalentsNZ10.91%Auckland Council Frn 04/10/2027
Cash
Cash and Cash EquivalentsNZ5.87%Sbs Commercial Paper 3.5% 08/04/2026
Cash
Cash and Cash EquivalentsNZ3.24%Tax Traders 2.920% 15/01/2026
Cash
Cash and Cash EquivalentsNZ2.99%Nzgt Tributum Ltd Commercial Paper 2.955% 28/01/2026
Cash
Cash and Cash EquivalentsNZ2.93%Nzgt Tributum Ltd Commercial Paper 2.95267% 30/03/2026
Cash
Cash and Cash EquivalentsNZ2.92%Mtfgi Frn 24/11/2026
Cash
Cash and Cash EquivalentsNZ2.74%Kiwibank Ltd Frn 13/06/2028
Cash
Cash and Cash EquivalentsNZ2.74%Rabobank Frn 05/04/2027
Cash
Cash and Cash EquivalentsNZ2.73%
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.
0.25%
avg 0.47%
$75
avg $140
−0.22%Other
Other potential costs not in the categories below.
0.00%
avg 0.23%
-
avg -
−0.23%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.
0.00%
avg 0.05%
$0
avg $15
−0.05%
Total combined fees
Doesn't include fees for one-off activities like transferring or withdrawing.
0.25%
avg 1.22%
$75
avg $366
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: 1 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
- $12,289,026
- Members
- 393
- Asset liquidity ratio
- 100.00%
- Debt ratio
- 0.11%
- Default KiwiSaver fund
- No
- Fund reference
- FND40600
Manager
Kernel Kiwisaver Plan
Licensed with the Financial Markets Authority.
- NZBN
- 9429047045989
- FSP number
- FSP644609
Smiths Health Check
Is the Kernel Cash Plus Fund 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 kernel.
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 →