Kernel Kiwisaver Plan
Kernel Conservative Fund
The Smiths take
Kernel Conservative 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 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 Kernel Conservative Fund 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
30% growth assets (shares, property) and 70% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
29.95% / 70.05%
Growth / Income · avg 23.01% / 76.99%
Fees
0.25%
$75 on $30k · avg 3.44%
What the provider says
In their own words
“The Kernel Conservative Fund's investment objective is to provide a return (before tax, fees and expenses) that closely matches the return of the index of the reference portfolio. Investment strategy. Designed as a 30% growth / 70% income option by investing mainly in several of the other Kernel funds”
- Fund start date
- 13 August 2025
- 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 29.95% 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
27.44%
avg 20.31%
- Propertythis fundavg
2.51%
avg 2.07%
- Otherthis fundavg
0.00%
avg 0.63%
- Bondsthis fundavg
54.72%
avg 56.62%
- Cashthis fundavg
15.33%
avg 20.37%
What it owns
Top 10 holdings. 39.77% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Ishares Core Us Aggregate Bond Etf
Bonds
International Fixed InterestUS15.11%Nzgs 4.25% 15/05/2034
Bonds
New Zealand Fixed InterestNZ6.83%Nzgs 5.00% 15/05/2054
Bonds
New Zealand Fixed InterestNZ3.27%Nzgs 4.25% 15/05/2036
Bonds
New Zealand Fixed InterestNZ2.94%Nz Lgfa 4.50% 14/05/2032
Bonds
New Zealand Fixed InterestNZ2.34%Nzgs 1.50% 15/05/2031
Bonds
New Zealand Fixed InterestNZ2.24%Bank Of China Deposit
Cash
Cash and Cash EquivalentsNZ2.17%Dunedin City Treasury 5.55% 15/11/2028
Bonds
New Zealand Fixed InterestNZ1.69%Nzgs 3.00% 20/09/2030
Bonds
New Zealand Fixed InterestNZ1.66%Watercare Services Ltd 3.847% 30 Sep 2030
Bonds
New Zealand Fixed InterestNZ1.52%
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 0.70%
$75
avg $210
−0.45%Other
Other potential costs not in the categories below.
27.44%
avg 20.31%
-
avg -
+7.13%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 3.44%
$75
avg $1,031
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
- $4,317,266
- Members
- 70
- Asset liquidity ratio
- 100.00%
- Debt ratio
- 0.27%
- Default KiwiSaver fund
- No
- Fund reference
- FND58862
Manager
Kernel Kiwisaver Plan
Licensed with the Financial Markets Authority.
- NZBN
- 9429047045989
- FSP number
- FSP644609
Smiths Health Check
Is the Kernel Conservative 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 →