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Dean Anderson
Former Smartshares head of product Dean Anderson is launching Kernel, which is described as a digital wealth solution that will provide a new range of index-tracking funds to the adviser network, as well as direct to the public.
“While we’ve seen a revolution in fintech, the investing space to date hasn’t seen much in the way of digital transformation,” Anderson said.
“Kernel empowers users with the tools to take control of their investments with ease. This makes investing accessible for the newcomer while delivering a highly satisfying experience for the seasoned professional. From there, our platform equips the investor to buy and sell investments at the literal click of a button, with no transaction fees.”
He said Kernel would also fill a gap in the market for advisers in terms of the vehicles available.
“Fund development and innovation isn’t keeping pace with the growth in market opportunities and customer expectations,” Anderson said.
“Fund options have stagnated. We’re here to change that by growing the range of investments available so our investors can customise a portfolio to suit their own risk tolerance and objectives.”
At launch, the company is offering three NZ equity index funds: The NZ 20, NZ Commercial Property, and NZ Level 9.
NZ 20 tracks 20 of the largest and most liquid companies listed on the NZX.
“Until now, nobody has offered a Top 20 fund, yet these companies have strong historical performance. It gives our investors unique exposure to a basket of the country’s big utilities and other corporates.”
The NZ Level 9 fund tracks the newly developed S&P/NZX Emerging Opportunities Index, holding around 40 companies. “This lets our investors put their money into an innovative mix of small and medium sized companies on the NZX, and becomes the first index fund to invest beyond the 50 largest companies."
The S&P/NZX Emerging Opportunities Index defines small and mid-sized companies by including the smaller companies in the existing S&P/NZX MidCap Index and the larger, more liquid companies in the S&P/NZX SmallCap Index.
“This new index aims to highlight companies outside of the S&P/NZX 50 Index, commonly viewed as the investable universe in New Zealand, and foster growth and liquidity in a currently nascent area of the domestic equity market,” said Michael Orzano, senior director, global equity indices at S&P Dow Jones Indices.
The range of funds are distributed direct to retail through the Kernel investor dashboard and are available to advisers and wholesale investors.
Anderson said Kernel was a "digital wealth solution". “We’re taking a traditional index fund management approach and delivering it with a modern experience. Kernel makes investing easy, accessible and engaging."
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