Generate Focused Growth Managed Fund
Managed by Generate Generate Focused Growth Managed Fund is a diversified managed fund operated by Generate; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 1.31% · minimum investment NZ$1,000 · distributions no distributions (accumulating). Compared with 66 other same-category funds on this site, the 1.31% annual fund charge sits above the same-category median of 0.99%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.35%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
6.34%
peer avg 4.91%
Fund size
NZ$117.7m
98% growth · 2% income
The Generate Focused Growth Managed Fund aims to provide a higher return over the long term. It invests in an actively managed portfolio made up predominantly of growth assets with a minor allocation of income assets. Volatility is likely to be high. Returns will vary and may be low or negative at times.
Benchmark track record
Compare Diversified consistency →How Generate Focused Growth Managed Fund performed against its own market-index benchmark each year, after fees and tax — from the FMA fund-update dataset. Historical track record, not current-year performance; past performance is not a guide to the future.
Beat its benchmark in 1 of 5 years
annual returns to 31 March 2026Since inception: 0.8% p.a. after fees & tax vs benchmark 1.41%.
How Generate Focused Growth Managed Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Investment style
- Actively managed.
- Top 3 holdings
- Nvidia (6.0%) · Te Ahumairangi Global Equity Fund (4.7%) · Microsoft Corp (4.5%)
Key facts
Fund start date
1 November 2019
Min. investment
NZ$1,000
Subsequent: NZ$100
Distributions
No distributions (accumulating)
Tax structure
PIE
Capped at your PIR (max 28%)
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Cash and cash equivalents | 5% | 0% | 35% |
| Fixed interest | 0% | 0% | 20% |
| Income Assets (total) | 5% | 0% | 35% |
| Australasian equities and property | 30% | 10% | 50% |
| International equities | 65% | 45% | 85% |
| Growth Assets (total) | 95% | 65% | 100% |
Responsible-investment approach
Under the Responsible Investment Policy, Generate seeks to exclude investments (including third party underlying fund investments) into companies involved in: the manufacture of cluster munitions; the manufacture of anti-personnel mines; the manufacture or testing of nuclear explosive devices; the processing of whale meat; or the manufacture of tobacco. Environmental, social and governance issues are integrated as part of the investment process.
Exclusions
- Manufacture of cluster munitions
- Manufacture of anti-personnel mines
- Manufacture or testing of nuclear explosive devices
- Processing of whale meat
- Manufacture of tobacco
Derivatives policy
Derivative contracts may be used to manage foreign exchange risk (predominantly forward foreign exchange contracts), interest rate risk (predominantly interest rate swaps), share market risk (predominantly futures and/or options), and credit risk (predominantly credit default swaps). IC or CIO approval is required for counterparties and for share market and credit derivatives.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- Generate Investment Management runs eight actively managed funds ranging from a low-risk cash fund (risk 1/7, 0.46% annual charge) to higher-risk growth and thematic funds (risk 5/7, up to 1.31% annual charge).
- Generate's fund range spans income-focused options (CashPlus, Fixed Interest, Conservative) and growth-focused options (Focused Growth, Australasian, Thematic, Global), with annual fund charges between 0.46% and 1.31%.
- The three higher-risk growth funds (Australasian, Thematic, and Global) each carry a 1.25% annual charge and invest predominantly in growth assets, with the Australasian fund focused on New Zealand and Australian markets.
- No conflicts of interest, related-party transactions, or performance-fee mechanics were disclosed in the material provided for this scheme.
Generated 2026-05-29 from Generate Unit Trust Scheme (Managed Funds) PDS (dated 2025-11-25). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
How this fund compares to peers
Mechanical comparison vs the 67 other diversified funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
1.35%
Category median: 0.99%
Pricier than most peers (top 85% by fee)
5y return p.a. (after fees)
+6.34%
Category median: +3.27%
Higher than 87% of peers
Fund size
NZ$117.7m
Category median: NZ$57.5m
66th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$657
Compounded charge over 5 years (excl. returns)
$172 more than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
 Nvidia | 5.95% |
| TA Te Ahumairangi Global Equity Fund | 4.68% |
 Microsoft Corp | 4.54% |
 Amazon.Com Inc | 4.11% |
 Infratil Ltd | 3.33% |
 Fisher & Paykel Healthcare Ltd | 3.21% |
 Meta Platforms Inc | 3.07% |
 Alphabet Inc Class A | 2.96% |
 Apple Inc | 2.56% |
| AN ASB NZ Dollar Cash Account | 2.10% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- GENERATE FOCUSED GROWTH MANAGED FUND (FND15960) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.36 KB
- Generate Unit Trust (Managed Funds)PDS 1 12 2025.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 2.28 MB
- FU 2026 Q 1 MF Focused Growth.pdf The quarterly update published by the provider PDF, 457.41 KB
- Generate Unit Trust (Managed Funds)OMI 1 12 2025.pdf Other Material Information PDF, 1.27 MB
- Generate Unit Trust (Managed Funds)SIPO.pdf Statement of investment policy and objectives PDF, 1.44 MB
About this category
Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
About Generate
Active manager best known for KiwiSaver; runs a focused growth managed-fund offering.
See all funds from Generate →Common questions
Questions people ask about Generate Focused Growth Managed Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
What is a focused growth fund?
A focused growth fund is a diversified managed fund that allocates a high proportion of its portfolio to growth assets (typically equities and growth-oriented funds) to pursue capital appreciation over the medium to long term, accepting higher volatility in exchange for growth potential. Generate Focused Growth Managed Fund holds approximately 98.31% growth assets and 1.69% income assets, with a Risk indicator of 5/7 on the FMA standardised scale.
What is generate managed funds?
Generate Focused Growth Managed Fund is a diversified managed fund available for investment through InvestNow or directly with Generate. As at the latest Quarterly Fund Update, the fund holds NZ$110,436,721 in assets with an annual fund charge of 1.39% p.a., and is structured as a PIE for New Zealand tax purposes. For full details, see the current Product Disclosure Statement and the latest QFU on the FMA Disclose register.
What is the average return of growth funds?
Generate Focused Growth Managed Fund achieved a 5-year return of 8.22% p.a. after fees and before tax, based on FMA Disclose data. However, past performance does not guarantee future returns; for comparison with other growth funds or peer-cohort benchmarks, check the latest QFU on the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/
Head-to-head
Compare Generate Focused Growth Managed Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Diversified funds
FMA risk band
Same risk band (5/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 5 funds →AI & integrations
Use this fund inside the tools you already use
Every fund on ManagedFundsNZ ships in three formats so AI assistants and data tools can consume it without scraping: a canonical HTML page, a plain Markdown twin, and a structured JSON twin. Citation back to the canonical URL is required; full reuse policy at /llms-policy.txt.
- Canonical (HTML)managedfunds.nz/funds/generate/focused-growth-managed/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/generate/focused-growth-managed/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/generate/focused-growth-managed/data.jsonMachine-parseable.
Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Generate Focused Growth Managed Fund?
Generate Focused Growth Managed Fund is managed by Generate. Active manager best known for KiwiSaver; runs a focused growth managed-fund offering.
What asset class is the Generate Focused Growth Managed Fund?
It is a diversified managed fund. The fund has a growth risk profile. Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
What are the fees for the Generate Focused Growth Managed Fund?
The annual fund charge for the Generate Focused Growth Managed Fund is 1.35% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Generate Focused Growth Managed Fund?
The risk indicator is 5/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Generate Focused Growth Managed Fund a PIE fund?
Yes. The Generate Focused Growth Managed Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Generate Focused Growth Managed Fund?
Fund size (assets under management) is NZ$118 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Generate Focused Growth Managed Fund invest in?
The latest published top holdings are: Nvidia (5.95%), Te Ahumairangi Global Equity Fund (4.68%), Microsoft Corp (4.54%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Generate Focused Growth Managed Fund?
The Generate Focused Growth Managed Fund is available via Generate directly. Always read the current Product Disclosure Statement before investing.
What is a focused growth fund?
A focused growth fund is a diversified managed fund that allocates a high proportion of its portfolio to growth assets (typically equities and growth-oriented funds) to pursue capital appreciation over the medium to long term, accepting higher volatility in exchange for growth potential. Generate Focused Growth Managed Fund holds approximately 98.31% growth assets and 1.69% income assets, with a Risk indicator of 5/7 on the FMA standardised scale.
What is generate managed funds?
Generate Focused Growth Managed Fund is a diversified managed fund available for investment through InvestNow or directly with Generate. As at the latest Quarterly Fund Update, the fund holds NZ$110,436,721 in assets with an annual fund charge of 1.39% p.a., and is structured as a PIE for New Zealand tax purposes. For full details, see the current Product Disclosure Statement and the latest QFU on the FMA Disclose register.
What is the average return of growth funds?
Generate Focused Growth Managed Fund achieved a 5-year return of 8.22% p.a. after fees and before tax, based on FMA Disclose data. However, past performance does not guarantee future returns; for comparison with other growth funds or peer-cohort benchmarks, check the latest QFU on the FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/