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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


Yield to maturity as at 31 May 2024 (subject to change).


Management fee p.a.


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 ProductEstimated yield
Kernel Cash Plus Fund6.06%*
Average Cash PIE Fund3.85%**
Average On-call Savings Account3.10%**

* Yield to maturity (YTM) before tax, less 0.25% management fee as at 31 May 2023.

**Average Bank On Call interest rates according to RBNZ as at 31 May 2023.

Where is my money?

Take comfort in knowing the top asset types and issuers your money is with.


Fund holdings as at 31 May 2024

HoldingCredit RatingWeighting

Bank of China Deposit



Rabobank FRN






Public Trust IRD Tax Pool



SBS Commercial Paper



Logos provided by Clearbit

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- (33.27%)

A+ to A- (40.36%)

BBB+ to BBB- (20.98%)

Unrated & Other (5.38%)

Issuer composition

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

Banks (48.83%)

Corporates (39.91%)

Government (11.25%)

Other (0.00%)

Credit rating and issuer composition as at 31 May 2024.


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.


Lower risk

Higher risk


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%

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

Stable returns

Whilst this fund’s potential returns aren’t fixed, they’ll typically remain stable with minor fluctuations over the short-term

Documents & Resources

Latest Fund FactSheet

Updated: 31.05.2024

Kernel Funds Latest Fund Update

Updated: 31.03.2024

Kernel KiwiSaver Plan Fund Update

Updated: 31.03.2024

See the historical fund updates here

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© Copyright 2024 Kernel Wealth Limited


Indices provided by: S&P Dow Jones Indices