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Generate KiwiSaver Scheme

Monday 16th November 2015

Generate KiwiSaver Scheme

Generate KiwiSaver Scheme: No. 1 performance by all three of its funds

Q3 results top off a stellar year of performance for the NZ-owned KiwiSaver specialist

The Generate KiwiSaver Scheme is one to watch, with all three of its funds the top performers in their respective categories on a one year return basis, according to the September quarter survey from independent investment research agency Morningstar.

Sam Goldwater, Generate’s Executive Director and Portfolio Manager, said: “We are delighted that Generate’s funds were the number one performing KiwiSaver funds in the Moderate, Growth and Aggressive Growth Sectors for the year to September 30. It gives weight to our unique investment philosophy and product offering.”

PAA’s Provider of the Year

The Morningstar results come off the back of a strong year for Generate, including being awarded The Investment Provider of the Year 2015 by the Professional Advisors Association. Generate’s CEO, Henry Tongue, said: “We set out as a specialist KiwiSaver provider to do one thing and do it well. I think the award we won and our growing membership is a good reflection of that focus. We put a lot of effort into customer service and in to helping advisors provide sound advice on KiwiSaver”

Milestone: $100m of funds under management

In September, Generate reached the major milestone of having NZD$100m of funds under management (FuM), having doubled its FuM in under six months. Goldwater said: “Passing the $100m FUM mark signals to many in the market that we are here to stay.That milestone was driven by investing in our team, technology and our nationwide network of advisers. We’re now looking ahead to another strong year of growth in 2016.”

Membership growth passes two of the banks for the first time

The latest Workplace Savings KiwiSaver Survey shows that Generate was one of only two schemes with over 10,000 members that added more members in the September quarter than in the June quarter.

Generate welcomed over 2,500 new members in the quarter to September, and while the banks’ membership figures are still growing, generally speaking the growth rate slowed in the quarter.

Tongue said: “In the September quarter, for the first time, Generate’s net membership growth surpassed two of the major banks.”

Educating members about fund choices

Tongue said: “Without the incentive of the Government’s kick-start contribution, people need a compelling reason to join KiwiSaver and one of our points of difference is that we offer easy to understand advice to help people make smart choices about the type of fund they should be in and to get the most out of KiwiSaver.

“Only 10-20% of KiwiSaver members nationally get advice on what fund they should be in. We want to change that and are committed to educating people on their fund choices to help Kiwis get the best results for their retirement. The right fund choice can be the difference of hundreds of thousands of dollars for retirement, so we’re encouraging people to consider what a difference that could make to their future and act on it now.”


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