# Quarterly Fund Update — generate (2025-Q1)

> KiwiSaver scheme **generate** — Quarterly Fund Update filing covering period ending **2025-03-31**.
> Source: filed with FMA Disclose register. Canonical: https://fundcompare.co.nz/filings/qfu/generate/2025-q1

## Funds covered

| Fund | Fees (1y) | 1y return | 3y return | 5y avg return | AUM (NZD) | Members | Growth assets |
|------|-----------|-----------|-----------|---------------|-----------|---------|---------------|
| Stepping Stones 46-55 | — | — | 5.12% | — | — | — | — |
| Stepping Stones 76+ | — | — | 3.57% | — | — | — | — |
| Stepping Stones Growth 76+ | — | — | 3.57% | — | — | — | — |
| Stepping Stones Growth 56-60 | — | — | 5.12% | — | — | — | — |
| Stepping Stones 61-64 | — | — | 4.24% | — | — | — | — |
| Stepping Stones 56-60 | — | — | 4.80% | — | — | — | — |
| Balanced Fund | 1.24% | 4.13% | — | — | NZD $312,686,889 | 8,695 | — |
| Conservative Fund | 1.09% | 4.34% | — | — | NZD $111,485,415 | 3,398 | — |
| Focused Growth Fund | 1.29% | 5.10% | — | 9.92% | NZD $3,613,914,290 | 99,304 | — |
| Growth Fund | 1.27% | 4.56% | — | 8.94% | NZD $1,801,206,382 | 51,127 | — |
| Moderate Fund | 1.14% | 4.04% | — | 4.82% | NZD $673,745,810 | 22,795 | — |
| Stepping Stones 0-35 | — | — | 8.32% | — | — | — | — |
| Stepping Stones Growth 0-50 | — | — | 8.58% | — | — | — | — |
| Stepping Stones 36-45 | — | — | 6.86% | — | — | — | — |
| Stepping Stones 65-75 | — | — | 3.92% | — | — | — | — |
| Stepping Stones Growth 61-75 | — | — | 4.27% | — | — | — | — |
| Stepping Stones Growth 51-55 | — | — | 6.86% | — | — | — | — |

_Returns are after fees and tax at PIR 28%, sourced from the QFU PDF as filed with FMA Disclose._

## Source documents

- **Fund: balanced**
  - Original PDF: https://ap-southeast-2.graphassets.com/AKCbhBjCsTzKiieKkNfvxz/LzZU5MsST1uWpJQkmzT4
  - SHA-256: `9feb5edde4d55024…`
  - Ingested: 2026-05-15
- **Fund: conservative**
  - Original PDF: https://ap-southeast-2.graphassets.com/AKCbhBjCsTzKiieKkNfvxz/N4cWuTMASTiWt7vy6YTw
  - SHA-256: `fcb541128ecc5ca7…`
  - Ingested: 2026-05-15
- **Fund: defensive**
  - Original PDF: https://ap-southeast-2.graphassets.com/AKCbhBjCsTzKiieKkNfvxz/cU636NxOQpqPVNbL50ml
  - SHA-256: `2563dc039d637f70…`
  - Ingested: 2026-05-15
- **Fund: focused-growth**
  - Original PDF: https://ap-southeast-2.graphassets.com/AKCbhBjCsTzKiieKkNfvxz/i0eRA63S16GiDBHb92KY
  - SHA-256: `f2d0735c50c20e34…`
  - Ingested: 2026-05-15
- **Fund: growth**
  - Original PDF: https://ap-southeast-2.graphassets.com/AKCbhBjCsTzKiieKkNfvxz/azdVWsaRTca1B11H11Ay
  - SHA-256: `9836be929613b51b…`
  - Ingested: 2026-05-15
- **Fund: moderate**
  - Original PDF: https://ap-southeast-2.graphassets.com/AKCbhBjCsTzKiieKkNfvxz/hl5HHEdHQPGJI6VJxT2w
  - SHA-256: `9350cb0c9ee4cce3…`
  - Ingested: 2026-05-15

## Data sources

- FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/
- IRD KiwiSaver — https://www.ird.govt.nz/kiwisaver
- Sorted Fund Finder — https://fundfinder.sorted.org.nz/

## Machine-readable surface

- Facts JSON: https://fundcompare.co.nz/api/qfu/generate/2025-q1/facts.json
- Crawlable HTML: https://fundcompare.co.nz/filings/qfu/generate/2025-q1

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This is an informational summary published by FundCompare NZ (https://fundcompare.co.nz) using publicly available data from the FMA Disclose register, IRD KiwiSaver, and Sorted Fund Finder. It does not constitute financial advice. FundCompare NZ is not a licensed Financial Advice Provider. Past performance is not indicative of future results — read each scheme's Product Disclosure Statement and consult a licensed financial adviser before making any decision. KiwiSaver® is a registered trademark of Inland Revenue.