GENERATE KIWISAVER SCHEME
Stepping Stones 61-64
Recent material changes
Diffs we track across PDS, SIPO, holdings + fee history
About this balanced fund
Stepping Stones 61-64 is a balanced KiwiSaver scheme fund offered by Generate. It holds 40% growth assets and 60% income assets, positioning it as a moderate allocation strategy within the provider's fund range. The fund aims to balance capital growth with regular income, making it suitable for those seeking a middle-ground approach between more conservative and growth-oriented options.
Over the five-year period to 31 March 2026, Stepping Stones 61-64 delivered an average annual return of 4.88%. The fund charges an annual fee of 1.26%, which is above the peer-median fee of 0.85% for balanced KiwiSaver scheme funds in its cohort. Past performance is not a reliable indicator of future returns, and investors should consider that market conditions and fund performance may vary.
The fund's risk indicator of 3 out of 7 on the FMA scale places it in the moderate-risk category. This risk profile is typically considered appropriate for investors with a medium investment timeframe who can tolerate some fluctuation in their account balance but prefer not to expose their savings to higher volatility. Past performance is not a reliable indicator of future returns.
Holdings
As of 2026-03-31 Stepping Stones 61-64 reports an asset mix of 40% growth assets (shares, listed property, alternatives) and 60% income assets (cash, bonds, fixed interest). This split is typical for a balanced fund. The full asset-mix breakdown including overseas vs domestic and listed vs unlisted exposure appears in the asset-allocation chart below.
Performance
Stepping Stones 61-64 has 2 quarters of QFU data on file (2025-03-31 to 2026-03-31). The 5-year average annual return reported in the most recent QFU is 4.88%. Past performance is not a reliable indicator of future returns.
Fees
At 1.26% in annual charges, Stepping Stones 61-64's fee sits 0.41 percentage points above the median for Balanced KiwiSaver scheme funds in our coverage (median 0.85%). 58 of the 76 funds in this cohort charge a lower annual fee (this fund ranks 59 cheapest of 76). Fee level is a mechanical signal — does not factor in returns, risk, or manager skill.
Risk and suitability
Stepping Stones 61-64 carries a risk indicator of 3/7 on the FMA risk scale. Risk indicator 3-4 funds are typically considered for members with a medium investment horizon (3-10 years) or those balancing growth potential against shorter-term volatility. FundCompare does not provide personalised advice; consult a licensed financial adviser to understand whether this risk profile fits your circumstances.
Returns
4.88%
Five Year Average Return
Returns (green) show the fund’s growth over the five years to 31 March 2026, after fees and taxes. Compare these results with the average Balanced KiwiSaver scheme fund (light green).
4.88% for this fund — category median 4.01% across 57 Balanced KiwiSaver scheme funds at 31 March 2026. This fund ranks 11 of 57 (81st percentile) by five-year after-fee return.
Past performance is not an indicator of future performance.
Fees
1.26%
One Year Average Fees
Fees shown here (blue) represent what you would pay over a year if you had $30,000 invested in this fund. Compare them with the average fees for Balanced KiwiSaver scheme funds (light blue).
Asset Mix
The fund’s mix of growth assets (shares, property) and income assets (bonds, cash) as of 31 March 2026. The average mix forbalanced KiwiSaver scheme funds is shown in light blue.
Key Takeaways
Here’s the provider’s overview of the managed fund:
“ The Stepping Stones 61-64 years old investment option aims to provide a modest to medium return over the short to medium term. It invests in an actively managed portfolio made up of slightly more income assets than growth assets. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times. ”
When can I get my money out?
This is a fund within a KiwiSaver scheme, which means generally you can withdraw only to purchase a first home, after the age of 65 or in cases of financial hardship.
Asset mix
This fund's asset mix
Average for Balanced funds
Your investment mix shapes your outcome
The balance of assets you choose — your asset allocation, has the biggest impact on how your investments perform and how much their value may rise or fall along the way. Selecting that balance is crucial. By adjusting the proportion of growth-oriented investments you include, you’re effectively setting your preferred level of risk. Generally, taking on more risk can increase the potential for higher returns, but there’s never a guarantee — that’s the nature of risk. To find an allocation suited to your personal circumstances (sometimes called your risk profile), you can start with an investor risk questionnaire or a KiwiSaver-specific guide.
Top 10 investments
These assets make up 15.33% of this fund.
| Asset | Asset Class | Type | Country | % of Fund | |
|---|---|---|---|---|---|
 | ASB NZ DOLLAR CASH ACCOUNT | Cash | Cash and equivalents | NZ | 2.15% |
 | KĀINGA ORA APR 2030 BONDS | Bonds | New Zealand fixed interest | NZ | 1.77% |
 | KĀINGA ORA SEP 2035 BONDS | Bonds | New Zealand fixed interest | NZ | 1.70% |
 | NVIDIA | Shares | International equities | US | 1.61% |
 | NZLGA MAY 2031 BONDS | Bonds | New Zealand fixed interest | NZ | 1.59% |
 | FISHER & PAYKEL HEALTHCARE LTD | Shares | Australasian equities | NZ | 1.50% |
 | MICROSOFT | Shares | International equities | US | 1.36% |
 | INFRATIL | Shares | Australasian equities | NZ | 1.25% |
 | SALVATION ARMY SEP 2025 BONDS | Bonds | New Zealand fixed interest | NZ | 1.25% |
| NZ GOVT BOND APR 2033 BONDS | Bonds | New Zealand fixed interest | NZ | 1.15% |
Fees
1.26%
This Fund
0.92%
Average Balanced Kiwisaver funds
The blue segment shows the annual fees you’d pay if you invested $30,000 in this fund. The grey segment represents the typical yearly fees for an average Balanced KiwiSaver scheme fund, so you can compare them directly.
Smaller Fees, Bigger Potential
When it comes to investing, spending more doesn’t automatically lead to stronger results. In fact, higher fund fees can often eat into your returns. Remember, what you keep is calculated after fees and taxes are deducted. Because no one can predict how any fund will perform, it’s generally wise to look for options with lower costs whenever you can.
Fees breakdown
| Fee Type | % Over a year | Amount paid on a 30k balance |
|---|---|---|
| Management This fee is charged to you by the fund manager on the fund or an underlying fund, and is based on a percentage of your balance. | 1.11% Average: 0.78% | $333.00 Average: $233.14 |
| Other This is a summary of other potential costs not covered in the categories displayed. | 0.03% Average: 0.10% | $9.00 Average: $29.82 |
| Performance-based These fees are based on the performance of the fund or underlying fund. When the fund performs well, these will be higher. | — Average: 0.00% | $0.00 Average: $0.04 |
| Membership You pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance. | 0.12% Average: 0.05% | $36.00 Average: $15.19 |
| Total combined fees These are a total of management and administration charges and performance-based fees over a year. They do not necessarily include fees for activities like transferring or withdrawing. | 1.26% Average: 0.93% | $378.00 Average: $278.19 |
Returns
4.88%
This Fund
4.31%
Average Balanced Kiwisaver funds
Over the past five years, this fund delivered the average annual return shown here (in green) to investors, after fees and taxes (28% PIR) were applied. For comparison, the average return over the same period for all Balanced KiwiSaver scheme funds is shown in grey.
Returns: Reflecting the Past
Investing is about seeking returns, but the figures shown here represent historical performance—they cannot be relied upon to continue in the future. Selecting a fund solely based on past performance is not advisable. A well-informed decision should consider factors such as an appropriate investment mix for your goals and reasonable fees.
Risks
Risk indicator
This indicator reflects how much the investment’s value has fluctuated over time. It is calculated from the fund’s five-year performance, or from a comparable market index if the fund has a shorter history.
Additional details
Manager information
| Name | GENERATE INVESTMENT MANAGEMENT LIMITED |
| Type | NZ Limited Company |
| Website | generatewealth.co.nz |
| NZBN | 9429030374034 |
| FSP Number | FSP271005 |
Fund information
| Asset liquidity ratio | 94.28% |
| Total value of fund | $28294075 |
| Debt ratio |
Fee + return history
View detailed history →Quarterly fees and after-tax returns recorded against this fund since inception. Sourced from FMA Disclose Quarterly Fund Updates. The detailed view shows the full chart + per-quarter data table.
PDS changes
View detailed PDS history →Material changes to the Product Disclosure Statement over time — fee adjustments, asset-allocation shifts, scheme-rule amendments. Diff against the previous PDS shown side-by-side in the detailed view.
Holdings changes
View detailed holdings diff →Top-10-holdings additions, removals, and weight changes across quarters. Shows the manager's actual portfolio decisions over time, sourced from the fund's Quarterly Fund Update.
SIPO changes
View detailed SIPO history →Statement of Investment Policy and Objectives revisions — investment objective rewrites, asset-class target shifts, ESG policy changes, derivatives policy changes. The detailed view diffs against prior SIPO versions.
AI · API · Markdown
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Identifiers
- FMA fund code
- FND1005
- FSP number
- FSP271005
- NZBN
- 9429030374034
- Provider
- Generate
- Scheme
- GENERATE KIWISAVER SCHEME
Endpoints for Stepping Stones 61-64
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data = requests.get("https://fundcompare.co.nz/api/fund/generate/stepping-stones-6164/facts.json").json()
print(data["fund_name" if "fund" == "fund" else "name"])MCP (Claude Desktop / ChatGPT)
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"command": "npx", "args": ["-y", "mcp-remote", "https://fundcompare.co.nz/mcp"]
} } }
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