Kernel Kiwisaver Plan
Kernel Emerging Markets Fund
The Smiths take
Kernel Emerging Markets Fund Smiths Rating B
Smiths' editorial rating, our internal opinion based on 10-year returns and risk band fit. Not a formal credit rating or regulated star rating.
Smiths reviews this fund against every other aggressive option in NZ on net-of-fees returns 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 Emerging Markets Fund fits your situation.
A 10+ years timeframe
This is a aggressive KiwiSaver fund. The provider's recommended minimum holding period sits in the 10+ years range.
A higher-risk investment
Sorted's risk indicator places this at 5 on a 1–7 scale. Bigger swings, potentially higher long-term returns.
Mostly growth assets
100% growth assets (shares, property) and 0% income assets (bonds, cash). Spread across multiple asset classes.
Snapshot
The headline numbers
Mix
99.92% / 0.08%
Growth / Income · avg 98.25% / 1.75%
Past performance is not a reliable indicator of future performance. Data as at Q1 2026 (31 Mar 2026).
What the provider says
In their own words
“The Kernel Emerging Markets Fund’s investment objective is to provide a return (before tax, fees and expenses) that closely matches the return on the S&P Emerging Markets BMI (NZD) Index”
- Fund start date
- 11 November 2024
- 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 99.92% 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
99.92%
avg 87.94%
- Propertythis fundavg
0.00%
avg 8.38%
- Otherthis fundavg
0.00%
avg 1.93%
- Bondsthis fundavg
0.00%
avg 0.38%
- Cashthis fundavg
0.08%
avg 1.37%
What it owns
Top 10 holdings. 100.03% of the fund
The rest is spread across hundreds of other positions. Full holdings live in the provider's portfolio file.
Spdr Portfolio Emerging Markets Etf
Shares
International EquitiesUS99.92%New Zealand Dollar
Cash
Cash and Cash EquivalentsNZ0.11%Us Dollar
Cash
Cash and Cash EquivalentsUS0.00%
Risk indicator
Sorted risk rating: 5 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
- $2,640,717
- Members
- 271
- Asset liquidity ratio
- 100.00%
- Debt ratio
- 1.69%
- Default KiwiSaver fund
- No
- Fund reference
- FND52056
Manager
Kernel Kiwisaver Plan
Licensed with the Financial Markets Authority.
- NZBN
- 9429047045989
- FSP number
- FSP644609
Smiths Health Check
See whether the Kernel Emerging Markets Fund fits your situation.
Take the 90-second Health Check. We'll grade your current setup and give you a personalised recommendation 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 →