Overview

How is this fund different to others?

The Kernel Balanced Fund primarily invests in growth assets with some allocation to income assets. The fund targets a 60% equities and 40% fixed interest asset allocation, investing mainly in several of the other Kernel funds. The fund is designed to fluctuate less than the High Growth Fund but also have lower long term returns due to the diversification across income assets that are generally more stable. This fund may be suitable for investors with a medium to high risk appetite, and has approximately 1/7 chance of a negative year.

Holdings

As at October 31, 2023

Company	Country	Industry	Weight
iC iShares Core Global Aggregate Bond UCITS ETF	GB		17.24%
C4 Chorus 4.35% 06/12/2028	NZ		5.04%
Microsoft Corp	US	Information Technology	3.27%
Apple Inc.	US	Information Technology	3.13%
KC Kernel Cash Plus Fund	-		2.41%
AI Auckland Intl Airport 6.22% 02/11/2029	NZ		2.36%
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Performance

• Range of returns

  -11.05%

  VS

  29.75%

  The lowest and highest 12 month returns, in 5 years to the end of October 2023*

• Growth of $10k

  $13,437

  For the 5 years to 31 October 2023, an investment of $10,000 would be up 34.37%*

• Investment Objective

  Growth & Diversification

  The fund is designed to provide long-term capital growth and diversification.

*These are the gross index returns, not including fees or taxes.

Risk

The risk indicator reflects how much the value of the Fund’s assets goes up and down (volatility). A higher risk generally means higher potential returns over time, but more ups and downs along the way. The lowest risk rating doesn’t mean “risk-free” and this risk indicator is not a guarantee of a Fund’s future performance.