Annual fund charge
0.25%
vs peer avg 0.86%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 6.54%
Fund size
NZ$865k
98% growth · 2% income
The fund is passively managed and invests in NZX listed financial products whose normal free-float market capitalisation is between $75 million and $1.25 billion and who are outside of the S&P/NZX 20 Index
Key facts
Fund start date
11 April 2022
Min. investment
NZ$1
Tax structure
PIE
Capped at your PIR (max 28%)
Top 10 holdings
As at the latest published quarterly fund update.
| Holding | % of fund |
|---|---|
| CHANNEL INFRASTRUCTURE NZ LTD | 7.02% |
| VITAL HEALTHCARE PROPERTY | 6.52% |
| ARGOSY PROPERTY LTD | 6.28% |
| SKELLERUP HOLDINGS LTD | 6.01% |
| HEARTLAND GROUP HOLDINGS LIMITED | 5.86% |
| SKY CITY ENTERTAINMENT GROUP LIMITED | 5.79% |
| FONTERRA SHAREHOLDERS' FUND | 5.14% |
| SCALES CORPORATION LIMITED | 5.04% |
| STRIDE PROPERTY LIMITED | 4.50% |
| TOWER LIMITED | 4.04% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- KERNEL NZ SMALL & MID CAP OPPORTUNITIES FUND (FND37627) Full portfolio holdings 31 December 2025.xlsx Download the full portfolio holdings. XLSX, 1.48 KB
- Kernel Kiwi Saver PDS Equities August 2025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 399.30 KB
- SMOFU (KS) Kiwi Saver Update Dec 2025.pdf The quarterly update published by the provider PDF, 467.50 KB
- Kernel Kiwi Saver PDS Diversified August 2025.pdf Additional product disclosure statement from the provider PDF, 415.69 KB
- ESG Policy March 2023.pdf ESG Policy PDF, 1.92 MB
- Kernel Kiwi Saver OMI August 2025.pdf Other Material Information PDF, 271.27 KB
- Kernel Kiwi Saver SIPO September 2025.pdf Statement of investment policy and objectives PDF, 482.21 KB
About this category
Funds investing in shares listed outside Australasia. Includes broad global trackers, regional funds, ESG-focused strategies, and theme funds covering automation, healthcare, water and other sectors.
About Ellerston
Australian boutique with a global mid-small cap strategy distributed in NZ.
See all funds from Ellerston →Head-to-head
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Peer funds
Other International Equities funds
