Average category KiwiSaver management fee is 1.20% p.a. with an average of $20 annual membership fee according to Morningstar KiwiSaver Report 30 September 2022.
Kernel’s management fee for 16 of 19 funds is 0.25% p.a. with no annual membership fee (i.e. excluding Clean Energy, Moonshots or Electric Vehicle Innovation thematic funds).
The number shown is the difference but assumes no change in value during the year or difference in gross fund performance.