Generate launches first non-KiwiSaver Fund
Generate has launched its first non-KiwiSaver managed fund. The Focused Growth Trust is based on its market leading
KiwiSaver Focused Growth Fund which is the #1 fund in the Morningstar Aggressive Multi-sector category for both one year
and five year returns to 31 August 2019.
The Morningstar category includes both KiwiSaver funds and managed funds. The Generate KiwiSaver Focused Growth Fund is
1st out 21 funds over the year with a return of 7.16% and 1st out of 17 funds over the past five years with a return of
11.67% p.a. (a sizeable 3.22% p.a. above the category average).
Sam Goldwater, Generate’s Lead Portfolio Manager, said “We are delighted to have delivered such strong (after fees)
returns for our KiwiSaver members over the past five years. Although we don’t think markets will deliver such strong
returns over the next five years, we will strive to maintain strong performance versus our peers”.
Generate CEO Henry Tongue said “We have had a lot of members and advisers asking us for a non-KiwiSaver version of this
fund. They want a fund that invests that same way but they don’t want the money locked in until they turn 65.”
Generate has been beefing up its team of late to cope with its popularity in KiwiSaver and the launch of this Unit Trust
Scheme. Andrew Bolland joined the investment team as a portfolio manager from a local fund manager and Peter Grayson has
joined as Chief Operating Officer from Northern Trust in the UK.
To date, Generate has given KiwiSaver advice to nearly all their 74,000 members who have $1.6bn invested. This has
resulted in 84% of members’ savings being in growth funds and only 16% in conservative funds. This compares well to the
whole of KiwiSaver which has only 33% in growth funds and 38% in cash, default, conservative and fixed interest funds.
Further 78% of Generate’s members got some or all of this years’ $521 annual Government KiwiSaver contribution versus
64% for the whole of KiwiSaver. These two important factors alone should materially improve the outcomes at retirement
for those KiwiSaver members, and shows the value of advice.
A copy of the Generate Unit Trust Scheme and Generate KiwiSaver Scheme Product Disclosure Statements are available at www.generatewealth.co.nz
. The issuer is Generate Investment Management Ltd. Past performance is not a reliable indicator of future performance.
The PDS has been lodged on the Disclose Register. However, we cannot accept applications for at least the first five
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