Monday 16th November 2015
Generate KiwiSaver Scheme
Generate KiwiSaver Scheme: No. 1 performance by all three of its funds
Q3 results top off a stellar year of performance for the NZ-owned KiwiSaver specialist
The Generate KiwiSaver Scheme is one to watch, with all three of its funds the top performers in their respective
categories on a one year return basis, according to the September quarter survey from independent investment research
agency Morningstar.
Sam Goldwater, Generate’s Executive Director and Portfolio Manager, said: “We are delighted that Generate’s funds were
the number one performing KiwiSaver funds in the Moderate, Growth and Aggressive Growth Sectors for the year to
September 30. It gives weight to our unique investment philosophy and product offering.”
PAA’s Provider of the Year
The Morningstar results come off the back of a strong year for Generate, including being awarded The Investment Provider
of the Year 2015 by the Professional Advisors Association. Generate’s CEO, Henry Tongue, said: “We set out as a
specialist KiwiSaver provider to do one thing and do it well. I think the award we won and our growing membership is a
good reflection of that focus. We put a lot of effort into customer service and in to helping advisors provide sound
advice on KiwiSaver”
Milestone: $100m of funds under management
In September, Generate reached the major milestone of having NZD$100m of funds under management (FuM), having doubled
its FuM in under six months. Goldwater said: “Passing the $100m FUM mark signals to many in the market that we are here
to stay.That milestone was driven by investing in our team, technology and our nationwide network of advisers. We’re now
looking ahead to another strong year of growth in 2016.”
Membership growth passes two of the banks for the first time
The latest Workplace Savings KiwiSaver Survey shows that Generate was one of only two schemes with over 10,000 members
that added more members in the September quarter than in the June quarter.
Generate welcomed over 2,500 new members in the quarter to September, and while the banks’ membership figures are still
growing, generally speaking the growth rate slowed in the quarter.
Tongue said: “In the September quarter, for the first time, Generate’s net membership growth surpassed two of the major
banks.”
Educating members about fund choices
Tongue said: “Without the incentive of the Government’s kick-start contribution, people need a compelling reason to join
KiwiSaver and one of our points of difference is that we offer easy to understand advice to help people make smart
choices about the type of fund they should be in and to get the most out of KiwiSaver.
“Only 10-20% of KiwiSaver members nationally get advice on what fund they should be in. We want to change that and are
committed to educating people on their fund choices to help Kiwis get the best results for their retirement. The right
fund choice can be the difference of hundreds of thousands of dollars for retirement, so we’re encouraging people to
consider what a difference that could make to their future and act on it now.”
ENDS