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NZ Bond

Invests primarily in New Zealand issued bonds, deposits and more.

2 Years

Minimum suggested investment time frame

5.56%

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

0.40%

Management fee p.a.


Overview

The Kernel NZ Bond Fund primarily provides exposure to the New Zealand bond market. The fund invests in fixed-interest assets, as selected by our Portfolio Manager, such as bonds, deposits and more.

The fund aims to match or exceed the return of the Bloomberg NZ Bond Composite 0+ Yr Index.

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

NZ LGFA Bond

AAA

9.44%

Toyota Finance NZ Bond

A+

8.88%

Chorus Bond

BBB

7.28%

NZGS Bond

AAA

6.70%

UDC Endeavour Auto ABS

AAA

6.41%

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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- (30.4%)

A+ to A- (16.6%)

BBB+ to BBB- (37.7%)

Unrated & Other (15.3%)

Issuer composition

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

Corporates (61.2%)

Banks (8.7%)

Government (30.1%)

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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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