Fund-vs-fund · Cash
Kernel Cash Plus Fund vs Lifetime Cash Fund
Both are Cash funds available to NZ retail investors. Numbers below are sourced from the FMA Disclose register via Sorted Smart Investor and reflect the latest published quarterly fund updates.
What's different at a glance
- Kernel Cash Plus Fund charges 0.40% lower in annual fund charges (0.25% vs 0.65%).
- Both are New Zealand PIE funds — investor tax is capped at the Prescribed Investor Rate (PIR), maximum 28%.
- Kernel Cash Plus Fund is roughly 86.2× the size of the other fund.
Where each fund sits in its cohort
Percentile rank vs all 5 cash funds we've matched on Sorted Smart Investor. Mechanical only — no opinion, no forward-looking view.
Annual fund charge
Lower is better
Kernel
0.25%
Lower half of cohort
Lifetime
0.65%
Highest 10% of cohort
5-year return p.a.
Past performance — not a predictor
Kernel
—
—
Lifetime
—
—
Fund size
Larger = more stable, lower close-risk
Kernel
NZ$13m
Upper half by size
Lifetime
NZ$154k
Smallest 10% in cohort
| Metric | Kernel | Lifetime | Lower / higher is |
|---|---|---|---|
| Annual fund charge | 0.25% | 0.65% | Lower is better |
| Risk indicator (1–7) | 1 | 2 | Higher = more volatility |
| 5-year return p.a. | — | — | Higher is better (past not future) |
| Fund size | NZ$13m | NZ$154k | Larger = more stable, lower close-risk |
| Growth / income split | 0% / 100% | 0% / 100% | More growth = higher long-run return + volatility |
| NZ tax structure | PIE (PIR-capped) | PIE (PIR-capped) | PIE = simpler. FIF = annual return. |
| Currency hedging | — | — | Hedged smooths NZD/foreign FX moves at a small cost. |
| Responsible investment screening | No | No | Specific exclusions live in each fund's SIPO. |
| Available via | Direct | Direct | Platforms accepting retail subscriptions. |
Portfolio overlap
How many top-10 positions both funds hold, and at what weight. Computed from each fund's most recently disclosed top-10 holdings — exact-name matched (Microsoft Corp. = Microsoft Corporation), with a Cash / Cash & Equivalents collapse rule.
What each fund says it does
Kernel
Kernel Cash Plus Fund
The fund is is designed to invest in short-term New Zealand interest-bearing assets and other cash and cash equivalent investments.Full Kernel Kernel Cash Plus Fund profile →
Lifetime
Lifetime Cash Fund
Invests in a range of cash and cash equivalent investments. Expected to experience low volatility.Full Lifetime Lifetime Cash Fund profile →
Common questions
What's the difference between the Kernel Cash Plus Fund and the Lifetime Cash Fund?
Which fund has lower fees, Kernel Cash Plus Fund or Lifetime Cash Fund?
Are both funds PIE-taxed in NZ?
Where can I read the official documents for these funds?
