Latest Fund FactSheet
Updated: 31.10.2024
Cash Plus
Made up of short-term interest bearing assets and other NZ fixed income and floating rate note assets.
No Minimum
Minimum suggested timeframe
5.23%
Yield as at 31 October 2024 (subject to change)
0.25%
Management fee p.a.
Overview
The Kernel Cash Plus Fund can be used as an alternative to term deposits or flexible savings accounts. The fund’s underlying assets, as selected by our Portfolio Manager, include cash and cash equivalents (e.g. bonds, term deposits and more), meaning you can take comfort in knowing your savings are well diversified. This fund is suitable for those looking for a higher return than your average online savings account, whilst ensuring it remains easy to withdraw when needed.
How it compares
See how the Kernel Cash Plus Fund compares to traditional savings accounts. You can read more about the differences in savings products in our blog.
| Savings Product | Estimated yield |
|---|---|
 Kernel Cash Plus Fund | 5.23%* |
 Average Cash PIE Fund | 3.63%** |
 Average On-call Savings Account | 3.02%** |
* Yield before tax, less 0.25% management fee as at 31 October 2024.
**Rates according to RBNZ as at 31 October 2024.
Where is my money?
Take comfort in knowing the top asset types and issuers your money is with.
top 5 fund holdings
Fund holdings as at 31 October 2024
| Holding | Credit rating | Weighting | |
|---|---|---|---|
Bank of China Deposit | A | 14.91% | |
Rabobank FRN | AA | 13.81% | |
AC Auckland Council FRN | AA- | 10.66% | |
SC SBS Commercial Paper | BBB+ | 7.11% | |
PT Public Trust IRD Tax Pool | AAA | 6.65% | |
The credit rating is that of the instrument, unless a bank deposit where the rating of the bank is used.
Credit rating
Allocation of the fund by issuer credit rating (S&P or equivalent):
AAA to AA- (44.5%)
A+ to A- (28.8%)
BBB+ to BBB- (22.0%)
Unrated & Other (4.7%)
Issuer composition
This shows the allocation of the portfolio by type of issuer:
Corporates (23.7%)
Banks (50.5%)
Government (25.8%)
Other (0.0%)
Credit rating and issuer composition as at 31 October 2024.
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.
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Lower risk
Higher risk
Benefits
Savings aren't always exciting, but there’s a lot to love about the Kernel Cash Plus Fund.
Withdraw anytime
Easy access to your funds within a couple of days if you need it. No fees or penalties.
Tax capped at 28%
Stable returns
Whilst this fund’s potential returns aren’t fixed, they’ll typically remain stable with minor fluctuations over the short-term
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