Generate Moderate Fund
Moderate Fund is a balanced KiwiSaver fund managed by Generate. It has 23,241 members and holds $763 million. It opened in 2013.
Fees and returns
- Annual fee
- 1.14% of your balance each year
- Return over 1 year
- +4.7% a year
- Return over 3 years
- +6.2% a year
- Return over 5 years
- +3.5% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
How it compares
Over the last five years this fund returned +3.5% a year. The median for mainstream balanced funds over the same period was +3.8% a year, across 40 funds. This fund is behind that median, by 0.3 percentage points.
What it invests in
New zealand fixed interest 42%, international equities 25%, australasian equities 12%, international fixed interest 11%.
Largest holdings
- NZD Total Cash at Bank 3.35%
- Nvidia 2.48%
- Housnz 24/04/2030 2.183 2.35%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +4.7% |
| 2024/25 | +4.0% |
| 2023/24 | +9.9% |
| 2022/23 | −0.6% |
| 2021/22 | 0.0% |
| 2020/21 | +11.3% |
| 2019/20 | +1.6% |
| 2018/19 | +6.8% |
| 2017/18 | +4.5% |
| 2016/17 | +1.8% |
About this fund
The Generate Moderate Fund is an actively managed fund with slightly more income assets than growth, led by New Zealand fixed interest with international and Australasian shares on the growth side. It sits near the moderate end of the balanced-risk category. It has an annual fund charge of 1.14%.