# Quarterly Fund Update — Kernel (2026-Q2)

> KiwiSaver scheme provider **Kernel** — Quarterly Fund Update filing covering period ending **2026-06-30**.
> Source: filed with FMA Disclose register. Canonical: https://fundcompare.co.nz/filings/qfu/kernel/2026-q2

## Funds covered

| Fund | Fees (1y) | 1y return | 3y return | 5y avg return | AUM (NZD) | Members | Growth assets |
|------|-----------|-----------|-----------|---------------|-----------|---------|---------------|
| Kernel Balanced Fund | 0.25% | — | — | — | NZD $209,769,296 | — | — |
| Kernel High Growth Fund | 0.25% | — | — | — | NZD $1,062,085,374 | — | — |
| Kernel Cash Plus Fund | 0.25% | — | — | — | NZD $248,823,482 | — | — |
| Kernel Global ESG (NZD Hedged) Fund | 0.25% | — | — | — | NZD $435,996,487 | — | 106.2% |
| Kernel NZ Commercial Property Fund | 0.25% | — | — | — | NZD $140,286,412 | — | — |
| Kernel Global Property (NZD Hedged) Fund | 0.25% | — | — | — | NZD $251,438,153 | — | — |
| Kernel NZ 20 Fund | 0.25% | — | — | — | NZD $262,732,853 | — | — |
| Kernel NZ 50 ESG Tilted Fund | 0.25% | — | — | — | NZD $55,110,694 | — | — |
| Kernel NZ Bond Fund | 0.40% | — | — | — | NZD $76,507,230 | — | — |
| Kernel NZ Small & Mid Cap Opportunities Fund | 0.25% | — | — | — | NZD $45,369,527 | — | — |
| Kernel US Bond Fund | 0.30% | — | — | — | NZD $31,166,320 | — | — |

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

## Source documents

- **Fund: australia-100**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/7bac04fb36954e5ac898dca7db6917a4417e27d1.pdf
  - SHA-256: `c36dab09d78fb2ab…`
  - Ingested: 2026-09-05
- **Fund: balanced**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/7e8e946727278ad4e525d7063bc02997c6dbb2d6.pdf
  - SHA-256: `fbb835ad52868094…`
  - Ingested: 2026-09-05
- **Fund: cash-plus**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/1e6de3a3f805ebb7a96b268002f6b82a4c4a1374.pdf
  - SHA-256: `05b3f606537404eb…`
  - Ingested: 2026-09-05
- **Fund: conservative**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/902de10d56e2fa2ce00d17f03f871eace01ffcd4.pdf
  - SHA-256: `9bf92007cb1dd849…`
  - Ingested: 2026-09-05
- **Fund: emerging-markets**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/728dcd6756617cc06c612f4f01da7b36619c6dfc.pdf
  - SHA-256: `a1698f46fda0e076…`
  - Ingested: 2026-09-05
- **Fund: global-100**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/85364199a3594e76e12c7975ee373a6b1d46a169.pdf
  - SHA-256: `d004deccce6eb396…`
  - Ingested: 2026-09-05
- **Fund: global-100-nzd-hedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/766ade10fa9a532d968369392899846896cd4694.pdf
  - SHA-256: `32d48ef93cdcc33a…`
  - Ingested: 2026-09-05
- **Fund: global-esg**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/b5e934bffc2cbb25228feb7d1b11b739ab18c434.pdf
  - SHA-256: `2a53413ca3d00569…`
  - Ingested: 2026-09-05
- **Fund: global-esg-nzd-hedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/d2a57df2acaf4db57e2b6ef2bd5fe0258aa77ea8.pdf
  - SHA-256: `22dd87c2eb727e6d…`
  - Ingested: 2026-09-05
- **Fund: global-infrastructure**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/25ac33dfadad00e799faac404f5d98e3a4ff36e0.pdf
  - SHA-256: `36cf354a0487e8fd…`
  - Ingested: 2026-09-05
- **Fund: global-infrastructure-nzd-hedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/5c6267bbba1216852c8ff8eb6ace49611337813d.pdf
  - SHA-256: `1782e0e6b130791d…`
  - Ingested: 2026-09-05
- **Fund: global-property-nzd-hedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/22f90365ac960ebbf11ca633ac42de580a4631f3.pdf
  - SHA-256: `0311376adb9d1e20…`
  - Ingested: 2026-09-05
- **Fund: high-growth**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/a99f2d699dec4d1e005645e53d1501ebe61dfba1.pdf
  - SHA-256: `9c5893ff42744034…`
  - Ingested: 2026-09-05
- **Fund: march-2027-nz-bond**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/46d7d70abafcf60884543379d823b7245fb37d56.pdf
  - SHA-256: `5d82dad7127bf075…`
  - Ingested: 2026-09-05
- **Fund: march-2029-nz-bond**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/330440a972644aa4a860f36785488f7430f41634.pdf
  - SHA-256: `f126c8422cc36213…`
  - Ingested: 2026-09-05
- **Fund: nz-20**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/91e890372cd5a0f333c63c20ac868806b32678f3.pdf
  - SHA-256: `419bad0334a98234…`
  - Ingested: 2026-09-05
- **Fund: nz-50-esg-tilted**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/edaf210877f9b51e9cb7aa00085471e5e968f623.pdf
  - SHA-256: `6132e3dd5aaa1a79…`
  - Ingested: 2026-09-05
- **Fund: nz-bond**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/7023c11a1f6d2f17cf9b05f130e5fb7becfaa30a.pdf
  - SHA-256: `a8fe3e9bb474f0c9…`
  - Ingested: 2026-09-05
- **Fund: nz-commercial-property**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/47a0a190044dd6ba39483687770e30784c174e8b.pdf
  - SHA-256: `d809d87ad222a0b8…`
  - Ingested: 2026-09-05
- **Fund: nz-small-mid-cap-opportunities**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/652eec379b517c6c7c8de1c947b6244b843b9aa7.pdf
  - SHA-256: `17ad262c99b069a1…`
  - Ingested: 2026-09-05
- **Fund: pie-save**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/c577ca47afd9162ea63e335f3b2a8ec8b19dda48.pdf
  - SHA-256: `53149297f4d0664e…`
  - Ingested: 2026-09-05
- **Fund: s-p-500-nzd-hedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/201514137c61d3e14fc755420c751ca8266cd714.pdf
  - SHA-256: `626813af39ff9951…`
  - Ingested: 2026-09-05
- **Fund: s-p-500-unhedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/d31a0585fd2f64aabf9704e5eec2f829e2504735.pdf
  - SHA-256: `c3ad5f34ae8af0f5…`
  - Ingested: 2026-09-05
- **Fund: s-p-global-clean-energy**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/eb4b2d974f8f04393fab14417472cbe4518dda19.pdf
  - SHA-256: `ab507d6c7b22d2b5…`
  - Ingested: 2026-09-05
- **Fund: s-p-global-dividend-aristocrats**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/496e8f3bad344b21bece50d9605f86774cff84cf.pdf
  - SHA-256: `5ab3d5d463c69871…`
  - Ingested: 2026-09-05
- **Fund: total-world**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/4e9122ca1716915abb0b8f4e60e1a63123c77ed8.pdf
  - SHA-256: `707bb20dd0686947…`
  - Ingested: 2026-09-05
- **Fund: us-bond**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/fe10df0df75e3708b7ec90a938edb59e39bb98b5.pdf
  - SHA-256: `83bc6917af80ec50…`
  - Ingested: 2026-09-05
- **Fund: world-ex-us**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/e130902ee99504b21eeae068b8f0bf243c7cc99b.pdf
  - SHA-256: `1516b5f7c565fd8d…`
  - Ingested: 2026-09-05
- **Fund: world-ex-us-nzd-hedged**
  - Original PDF: https://cdn.sanity.io/files/9i8c3jnd/production/eb1700114f2fa1d75b7d967947334d6975ef7fae.pdf
  - SHA-256: `a82dc36a0e4ab949…`
  - Ingested: 2026-09-05

## 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/kernel/2026-q2/facts.json
- Crawlable HTML: https://fundcompare.co.nz/filings/qfu/kernel/2026-q2

---

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.