Is Generate expensive?
Generate's funds average 1.25% in annual fees versus a peer median of 0.76% across all NZ KiwiSaver scheme funds. 21 of 21 Generate funds charge above their fund-type peer median; 0 charge below.
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
Per-fund fee vs peer median
| Fund | Type | Annual fee | Peer median | Δ vs median | Cohort size |
|---|---|---|---|---|---|
| Stepping Stones 0-35 | Aggressive | 1.41% | 0.85% | +0.56 pp | 123 |
| Stepping Stones Growth 0-50 | Aggressive | 1.41% | 0.85% | +0.56 pp | 123 |
| Stepping Stones Growth 56-60 | Balanced | 1.36% | 0.84% | +0.52 pp | 70 |
| Stepping Stones 46-55 | Balanced | 1.36% | 0.84% | +0.52 pp | 70 |
| Stepping Stones 56-60 | Balanced | 1.30% | 0.84% | +0.46 pp | 70 |
| Stepping Stones 61-64 | Balanced | 1.26% | 0.84% | +0.42 pp | 70 |
| Focused Growth Fund | Aggressive | 1.27% | 0.85% | +0.42 pp | 123 |
| Stepping Stones Growth 61-75 | Balanced | 1.26% | 0.84% | +0.42 pp | 70 |
| Balanced Fund | Balanced | 1.24% | 0.84% | +0.40 pp | 70 |
| Stepping Stones 65-75 | Conservative | 1.22% | 0.84% | +0.38 pp | 42 |
| Stepping Stones 76+ | Conservative | 1.21% | 0.84% | +0.37 pp | 42 |
| Cashplus Fund | Defensive | 0.91% | 0.54% | +0.37 pp | 49 |
| Stepping Stones Growth 76+ | Conservative | 1.21% | 0.84% | +0.37 pp | 42 |
| Stepping Stones 36-45 | Growth | 1.39% | 1.03% | +0.36 pp | 65 |
| Stepping Stones Growth 51-55 | Growth | 1.39% | 1.03% | +0.36 pp | 65 |
| Australasian Fund | Aggressive | 1.19% | 0.85% | +0.34 pp | 123 |
| Global Fund | Aggressive | 1.18% | 0.85% | +0.33 pp | 123 |
| Thematic Fund | Aggressive | 1.18% | 0.85% | +0.33 pp | 123 |
| Moderate Fund | Balanced | 1.14% | 0.84% | +0.30 pp | 70 |
| Conservative Fund | Conservative | 1.08% | 0.84% | +0.24 pp | 42 |
| Growth Fund | Growth | 1.25% | 1.03% | +0.22 pp | 65 |
pp = percentage points. Peer median computed across all NZ KiwiSaver scheme funds of the same fund-type, excluding Generate. Sourced from FMA-filed Quarterly Fund Updates.
Cheaper peer-class alternatives
For each Generate fund, the three cheapest peer-class alternatives in the same fund-type cohort. Mechanical fee comparison only — does not factor in returns, risk, manager skill, or asset-allocation differences.
Frequently asked questions
How do Generate's fees compare to other NZ KiwiSaver schemes?
Generate's funds average 1.25% in annual fees versus a peer median of 0.76% across all NZ KiwiSaver scheme funds. 21 of 21 Generate funds charge above their fund-type peer median; 0 charge below.
What is the peer median fee for a NZ KiwiSaver scheme fund?
Across all NZ KiwiSaver scheme funds in our coverage, the median annual fee is 0.76%. Median is shown rather than average because a small number of very-high-fee funds would distort the average.
Why does fee level matter for KiwiSaver members?
Illustrative — fees compound across multi-decade investment horizons. A sample sub-1-percentage-point annual-fee difference on a sample balance can compound to a material foregone end-balance over 30 years. Mechanical illustration only — past performance is not a reliable indicator of future returns.
Important Information
Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
Need personalised advice? Consult a licensed Financial Advice Provider. Find advisers at fma.govt.nz
Compare every fund on the FMA Disclose register. Refreshed quarterly. Independent — FundCompare is not a Financial Advice Provider; general information only.
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