Diversified GrowthUnlisted PIE fund · PIE-taxed
KernelKGHKernel High Growth Fund
Diversified global growth portfolio, NZ-domiciled PIE. Issued by Kernel, unlisted (bought direct on the issuer platform), total expense ratio 0.25%, PIE-taxed (max 28%, no FIF).
Last reviewed 2026-07-05sourcesfind similar ETFs →
About this fund
What does KGH actually hold?
Diversified global growth portfolio, NZ-domiciled PIE. As a diversified growth ETF, it gives a single-trade route into that asset class for NZ investors who'd rather not pick individual securities.
Kernel is a NZ-based fund manager focused on low-cost passive strategies. Funds are PIE-taxed and NZD-denominated. Kernel funds are unlisted PIE funds — they are not NZX-traded; you buy units direct on the Kernel platform. For a holdings-level breakdown, see the official Kernel fact sheet[1].
Next typical distribution: December.KGH typically pays in Mar · Jun · Sep · Dec. Issuer sets the exact date — verify on the distribution calendar before relying on a payment date.
Platform availability
Where to buy KGH from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 KernelKernel | Three tiers | 0.40–1.50% (by tier) | NZ$1 | Unlisted PIE fund — buy units direct on the Kernel platform (no ticket fee). |
Showing 1 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax treatment
How is KGH taxed for NZ investors?
KGH is a NZ Portfolio Investment Entity. Tax is calculated by Kernel at your Prescribed Investor Rate (capped). FIF rules do not apply — irrespective of holding size.
The Prescribed Investor Rate is capped at 28%(source). That is the structural advantage of NZ PIE wrappers over direct foreign-listed ETFs once your overseas-share cost basis crosses NZ$50,000(source).
💰 What the PIE cap is worth to you
At the capped PIR of 28%(source), an investor on the39%(source) top marginal rate keeps about NZ$110 more per NZ$1,000 of taxable distributions than the same income taxed at their marginal rate — about NZ$50 more for an investor on the33%(source) rate. Illustrative: assumes the full distribution is taxable and your PIR sits at the cap. A lower PIR widens the gap.
Read more on PIE funds → · PIE vs FIF comparison →
🧮 Model your own after-tax outcome
Mechanical NZ-tax calculator comparing PIE @ PIR vs FIF @ FDR vs FIF @ CV on your principal, assumed return, time horizon, PIR, and marginal rate. → Open the after-tax calculator
General information only — not personalised tax advice. Confirm your treatment with a registered NZ tax adviser before transacting.
Add up to 4 more tickers to compare TER · yield · distribution · NZ tax structure.
Similar ETFs
ETFs with similar focus to KGH
Same asset class, issuer cousins, and exchange peers — ranked by closest match. Click any row to compare side-by-side in the multi-compare tool.
| Ticker | Name | TER | Yield | Distribution | NZ tax | Compare |
|---|---|---|---|---|---|---|
| NZ20 | Kernel NZ 20 Kernel · Unlisted | 0.25% | — | Quarterly | PIE | KGH vs NZ20 |
| KGM | Kernel Global 100 Kernel · Unlisted | 0.25% | — | Quarterly | PIE | KGH vs KGM |
Distribution history
Last 12 distributions — KGH
KGH typically distributes mar · jun · sep · dec. Per-payment history (amount + ex-date + payment date for the last 12 distributions) is published authoritatively on the issuer's own fact sheet and corporate-actions page. We have not yet verified a per-payment history for this fund against the issuer's records, so we point at the authoritative sources below rather than estimating.
Next typical distribution month: December. The exact ex-date and payment date are set by Kernel — verify on the issuer source below before relying on a specific date.
Authoritative sources for distribution history
- Kernel KGH product page — corporate actions + distribution announcements
- Kernel KGH fact sheet PDF — historical distribution table
See /calendar/distributions/ for the rolling 12-month forward calendar across all covered ETFs.
Sources
- [1]Kernel High Growth Fund fact sheet — Kernel (2026)
- [2]Portfolio investment entity (PIE) — overview — Inland Revenue (NZ) (2026)
Where to buy KGH from New Zealand
The platforms below all support KGH. Each link opens the platform's site directly — we don't take any payment for placement or for clicks.
Fees + platform details verified against each provider's published rate card. Always check the current schedule before transacting.Full platform comparison →
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Sources for this KGH data
The figures on this page come from the documents below. We do not pull live prices; the data is reviewed against issuer fact sheets and exchange listings (last reviewed 2026-07-05). Which figures have been checked against the issuer by machine, rather than by eye, is stated below — an unchecked figure is labelled as such rather than left ambiguous.
- ○Total expense ratioNot independently verified — check the issuer documents below before relying on it. We review unsourced figures by 2027-03-04; if no issuer publishes one by then, this figure is removed rather than left standing.
Issuer product page
kernelwealth.co.nz/funds/kernel-high-growth-fund
Fact sheet (PDF)
cdn.sanity.io/files/9i8c3jnd/production/a9f5c32786c8941cbe152d2059ce9b81eb3d89fa.pdf
Product Disclosure Statement
cdn.sanity.io/files/9i8c3jnd/production/fbe6baf997faf715908e36555d13ae84df2c3356.pdf
External links open in a new tab. We do not earn commission on issuer product pages. See our methodology + disclosure.
Compare
KGH against the alternatives
6 side-by-side comparisons covering fee, yield and NZ tax wrapper. Characteristics, not recommendations.
| Comparison | The other fund | Its TER |
|---|---|---|
| KGH vs VOO | VOO | 0.03% |
| KGH vs VTI | VTI | 0.03% |
| KGH vs NZ20 | Kernel NZ 20 | 0.25% |
| KGH vs KGM | Kernel Global 100 | 0.25% |
| KGH vs FNZ | NZ Top 50 (FNZ) | 0.50% |
| KGH vs DIV | NZ Dividend (DIV) | 0.54% |
FAQ
Common questions about KGH
What is KGH?⌄
KGH is the Kernel High Growth Fund, an unlisted PIE index fund issued by Kernel — it is not traded on the NZX. Diversified global growth portfolio, NZ-domiciled PIE. Total expense ratio is 0.25% per year.
Is KGH PIE-taxed?⌄
Yes. KGH is a NZ Portfolio Investment Entity (PIE) fund, so it is taxed at your Prescribed Investor Rate (capped at 28%). FIF rules do not apply, and tax is calculated and paid by the fund — you don't need to file foreign-investment income.
What does KGH cost to hold?⌄
KGH charges a total expense ratio of 0.25% per year, deducted automatically from the fund's net asset value. On every NZ$10,000 invested that's about NZ$25 per year. Platform fees on top depend on where you buy it.
Where can I buy KGH from New Zealand?⌄
Kernel High Growth Fund is an unlisted PIE fund — it is not traded on the NZX or available through share brokers. You buy units direct on the Kernel platform.
