# Generate Focused Growth Managed Fund

> Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings.

- **Manager:** Generate (Generate Investment Management Limited)
- **Asset class:** Diversified Funds
- **Risk profile:** growth
- **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%)
- **Confidence tier:** C (Sorted Smart Investor → FMA Disclose)
- **Last verified:** 2026-05-22

## Summary

The Generate Focused Growth Managed Fund is a diversified managed fund run by Generate. Active manager best known for KiwiSaver; runs a focused growth managed-fund offering.

## Investment objective (from PDS)

> 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.

Source: Product Disclosure Statement dated 2025-11-25 (Tier A, lodged on FMA Disclose register). https://smartinvestor.sorted.org.nz/disclose-document/mdo23d0b0cd4a3205a7a59519ad28499164/Generate-Unit-Trust%28Managed-Funds%29PDS-1-12-2025.pdf

## Fund data

- **Annual fund charge:** 1.35% p.a. (from the latest Quarterly Fund Update)
- **5-year return (after charges, after tax at 28% PIR):** 6.34% p.a.
- **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk)
- **Fund size (AUM):** NZ$118 million
- **Asset mix:** 98% growth assets · 2% income assets
- **Fund started:** 1 November 2019
- **Minimum initial investment:** NZ$1,000

## Top 10 holdings

1. Nvidia — 5.95%
2. Te Ahumairangi Global Equity Fund — 4.68%
3. Microsoft Corp — 4.54%
4. Amazon.Com Inc — 4.11%
5. Infratil Ltd — 3.33%
6. Fisher & Paykel Healthcare Ltd — 3.21%
7. Meta Platforms Inc — 3.07%
8. Alphabet Inc Class A — 2.96%
9. Apple Inc — 2.56%
10. ASB NZ Dollar Cash Account — 2.10%

Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register.

## Additional terms (from PDS)

- **Minimum subsequent investment:** NZ$100
- **Distribution cadence:** No distributions (accumulating)

## Investment policy (from 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.

### 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.

### Exclusions

- Manufacture of cluster munitions
- Manufacture of anti-personnel mines
- Manufacture or testing of nuclear explosive devices
- Processing of whale meat
- Manufacture of tobacco

Source: Statement of Investment Policy and Objectives dated 2025-11-25. https://smartinvestor.sorted.org.nz/disclose-document/mdod88f5ca4fc52d5d527907966eee1ef00/Generate-Unit-Trust%28Managed-Funds%29SIPO.pdf

## How to invest

Available via: Generate directly. Read the current Product Disclosure Statement (PDS) before investing.

## Sources

- **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Generate%20Focused%20Growth%20Managed%20Fund
- **Product Disclosure Statement:** /disclose-document/mdo23d0b0cd4a3205a7a59519ad28499164/Generate-Unit-Trust%28Managed-Funds%29PDS-1-12-2025.pdf
- **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH12736/OFR12737/FND15960/
- **Manager website:** https://generatekiwisaver.co.nz

## Citations (authoritative primary sources)

- FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ)
- Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities
- Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html
- Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/

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- **First published:** 2026-05-08
- **Last refreshed:** 2026-05-22
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ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.