Generate Growth Fund

Nvidia accounts for more than 3% of this fund, placing the chipmaker ahead of Microsoft and just behind a dedicated global equity manager in the portfolio's top tier. Generate Growth commits 81% to growth assets and holds $2.1 billion across more than 50,000 members, making it one of the larger growth options in the New Zealand market.

The fund's domestic tilt is pronounced. Nearly a quarter of the portfolio sits in Australasian shares, led by Infratil, Fisher & Paykel Healthcare and Contact Energy. International shares take just over half the fund, concentrated in US technology: Amazon, Microsoft, Alphabet and Apple all feature in the top ten. The allocation reflects a bet on large-cap tech and New Zealand infrastructure in roughly equal measure. A small allocation to listed property and bonds provides some ballast.

Generate charges a total annual fee of 1.23%, which includes a performance fee component of 0.12%. The fund ranked 7th in its category over three years with an annualised return of 14.4%, and 9th over five years at 7.4%. Over the past year it returned 8.2%, placing it 23rd among growth funds. The structure leans toward active stock selection rather than index tracking, and the fee level reflects that approach.

General information only, not financial advice. Past performance is not a reliable indicator of future results.