Generate has cracked the $5 billion in funds under management (FUM) mark, making it one of the largest boutique KiwiSaver providers (outside of banks).
That growth has been driven by strong long-term performance, award-winning customer service and its focus on educating and empowering Kiwis to make smart KiwiSaver decisions, chief executive Henry Tongue says.
“Our purpose is to grow Kiwis wealth. We do that through strong long-term performance and educating and empowering Kiwis to make smart decisions with their KiwiSaver, like getting into growth funds for the long-term and contributing more than the minimum 3%," Tongue says.
As active investors, Generate have been able to take advantage of market movements, which has helped it develop a track record of strong the results.
The most recent Morningstar KiwiSaver Survey showed each of the original Generate KiwiSaver Scheme funds placed in the top two in their respective categories for 10-year performance to 30 September 2023;
- The Generate Focused Growth KiwiSaver fund ranked 1st out of 8 funds in the Multi-sector Aggressive category
- The Generate Growth KiwiSaver fund ranked 2nd out of 14 funds in the Multi-sector Growth category
- The Generate Moderate KiwiSaver fund ranked 1st out of 12 funds in the Multi-sector Moderate category
Generate is also committed to achieving investor returns through responsible investment. This means it specifically excludes a number of harmful industries from its potential investments and looks for opportunities to invest in initiatives that make a difference for local communities, such as social housing developments in partnership with community groups.