How much does it cost?
At Kernel, we’re passionate about keeping our fees low and transparent. We have no hidden fees, which means:
No foreign exchange fees
No brokerage/transaction fees
No hidden charges or penalty fees
No minimums
Our pricing across our products is as follows:
Product | Member fee | Annual management fees |
Invest | $5 per month (only applies for portfolios with more than $25,000) | 0.25-0.30% - Core index funds 0.45% - Specialty index funds 0.25%-0.50% - Actively managed funds |
KiwiSaver | $0 per month | 0.25-0.30% - Core index funds 0.45% - Specialty index funds 0.25% - Actively managed funds* |
*Our range of bond funds are not currently available as part of the Kernel KiwiSaver Plan.
We have explained the table about in more detail for your understanding:
Member fee
A member fee of $5 per month (incl. GST) is charged for any portfolios over the balance of $25,000. This includes any money invested in Kernel funds.
When your portfolio value is less than $25,000, then there is no member fee charged.
The member fee doesn’t apply to the Kernel KiwiSaver Plan or to savings accounts. It does apply to the Kernel Cash Plus Fund.
The member fee is deducted in arrears from your wallet at the end of each month. If you have joined Kernel part way through a month, we may adjust the member fee deducted at the end of the month to reflect this. or part of that in the month you first deposit or fully withdraw.
Annual fund management fees
Kernel charges an annual fund management fee when investing in our funds.
The fund management fee is calculated on your total investment balance, which does not include your wallet. The fees are automatically deducted out of the fund.
Fund management fees are applicable to both our Invest product and the Kernel KiwiSaver Plan, as the underlying funds available in each offering are the same.
The specific annual fund management fees are as follows:
Core index funds – 0.25%-0.30%
There are 15 core index funds, including:
NZ 20 Fund
NZ Commercial Property Fund
NZ Small & Mid Cap Opportunities Fund
Global 100 Fund
Global 100 Fund (NZD Hedged)
Global Infrastructure Fund
Global Infrastructure Fund (NZD Hedged)
S&P Global Dividend Aristocrats Fund
S&P 500 Fund
High Growth Fund
NZ 50 ESG Tilted Fund
Global Green Property Fund
Global ESG Fund Global ESG Fund (NZD Hedged)
US Bond Fund
All core funds have an annual management fee of 0.25%, with the exception of our latest addition, the Kernel US Bond Fund, which has an annual management fee of 0.30%.
Specialty index funds – 0.45%
There are three specialty funds, including:
S&P Global Clean Energy Fund
S&P Kensho Moonshots Innovation Fund
S&P Kensho Electric Vehicle Innovation Fund
Actively managed funds – 0.25-0.50%
There are five actively managed funds, including:
Cash Plus Fund
Balanced Fund
NZ Bond Fund
March 2027 NZ Bond Fund
March 2029 NZ Bond Fund
Annual management fees of the funds are as follows: Cash & Balanced Funds - 0.25%, NZ Bond Fund - 0.40%, March 2027 & March 2029 NZ Bond Funds – 0.50%.
You can read more about how our individual funds are grouped, according to index, active, core and specialty groupings here.