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March 2027 NZ Bond

An accessible alternative to investing in individual bonds or income-generating assets maturing in March 2027.

2 Years

Minimum suggested investment time frame

5.21%

Yield as at 30 June 2024 (subject to change).

0.50%

Management fee p.a.


Overview

The Kernel March 2027 NZ Bond Fund may be suitable for investors who want to invest in the New Zealand bond market with a set maturity date. The fund invests in fixed-interest assets such as bonds, deposits and more, as selected by our Portfolio Manager.

The fund aims to generate a duration & risk profile close to a hypothetical A- credit rated bond maturing in March 2027.

Currently unavailable in the Kernel Kiwisaver Plan.

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 30 June 2024

HoldingCredit ratingWeighting

SBS Bond

BBB+

43.22%

Toyota Finance NZ Bond

A+

16.73%

Bank of China Deposit

A

15.81%

BNZ Bond

AA-

13.56%

Wellington Intl Airport Bond

BBB

12.81%

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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- (7.1%)

A+ to A- (32.6%)

BBB+ to BBB- (60.3%)

Unrated & Other (0.0%)

Issuer composition

This shows the allocation of the portfolio by type of issuer:

Corporates (33.9%)

Banks (65.8%)

Government (0.2%)

Other (0.0%)

Credit rating and issuer composition as at 30 June 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

There's plenty to love about investing in bond funds.

Tax capped at 28%

This is a PIE fund, so if your RWT rate is 30% or over, you can pay a maximum of 28% in tax.

Income generation

Bonds can be attractive for investors looking for a source of cash flow.

Easy access

Gain exposure to several bonds with as little as $1.

Documents

Last Fund Factsheet

Updated: 30.06.2024

Kernel Funds Latest Fund Update

Updated: 31.03.2024

See the historical fund updates here

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© Copyright 2024 Kernel Wealth Limited

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Indices provided by: S&P Dow Jones Indices