Funds
Milford Dynamic Fund
Issues of concern
The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.
Key:
- Human Rights Violations
- Environmental Harm
- Animal Cruelty
- Weapons
- Fossil Fuels
- Social Harm
Companies of concern
Fossil Fuels
-
Viva Energy Group Ltd 4.99%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Contact Energy Ltd 3.22%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
CONTACT ENERGY LTD Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Monadelphous Group Ltd 2.85%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Beach Energy Ltd 2.71%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Whitehaven Coal Ltd 1.08%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Origin Energy Ltd 0.77%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Karoon Energy Ltd 0.20%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Viva Energy Group Ltd 4.99%
Fund Provider Response
At Milford, we are acutely aware of our capacity as shareholders to drive positive change. Rather than just avoid harm, we believe it is our duty to use our seat at the table to help drive the transition to a more sustainable future. Please see our website for a deeper explanation of our approach and examples of our engagement activities and outcomes: https://milfordasset.com/about-us/sustainable-investing
This data is compiled by Mindful Money from the fund information and portfolios
that each fund has
filed with the Disclose register to 30th Sept. 2023 and Mindful Money
analysis of funds within those portfolios. The list of companies of concern has
been drawn from ratings agencies and public sources, including the Norwegian
Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.
Please note that companies may breach more than one of these areas of
concern.
The listing of companies of concern is based on definitions used in Mindful Money's
methodology. These definitions may
be different from the exclusions policy and definitions applied by the fund provider.
Mindful Money uses the term Mindful Funds as our standard
for ethical investment and responsible investment. This does not imply that
other funds are unethical or that the fund providers that do not meet these
standards are unethical providers.
About this fund
In their own words
The Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, by out-performing the relevant share market index over the minimum recommended investment timeframe of eight years.
It primarily invests in small to mid-cap Australasian equities.
| Value | $688M NZD |
| Period of data report | 31st Dec. 2023 |
| Fund started | 1st Oct. 2013 |
| Total annual fund fees | 2.77% |
| Total performance based fees | 1.42% |
| Manager's basic fee | 1.34% |
| Other management and administration charges | 0.01% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
William Curtayne |
Currently: Portfolio Manager (10 years, 3 months) |
|
Michael Higgins |
Currently: Portfolio Manager (5 years, 10 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.
Past Returns
Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.
| Year | Market Average | Fund Annual Return |
|---|---|---|
| 2023 | -5.17% | -4.47% |
| 2022 | 3.53% | 9.27% |
| 2021 | 35.55% | 61.85% |
| 2020 | -7.06% | -6.8% |
| 2019 | 10.17% | 1.71% |
| 2018 | 7.53% | 18.42% |
| 2017 | 9.49% | 9.92% |
| 2016 | 4.71% | 2.33% |
| 2015 | 14.67% | 15.1% |
The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.
Top 10 Investments
-
NZD Cash Call Account (Bank Of New Zealand)
New Zealand Cash and Equivalents AA-8.23% -
Viva Energy Group Ltd
Australia Australasian Equities5.01% -
AUD Cash Current Account (Hsbc)
Australia Cash and Equivalents A+4.58% -
Carsales.Com Ltd
Australia Australasian Equities3.15% -
Contact Energy Ltd
New Zealand Australasian Equities3.01% -
Neuren Pharmaceuticals Ltd
Australia Australasian Equities2.78% -
Newmont Mining
United States Australasian Equities2.75% -
Waypoint Reit Ltd
Australia Listed Property2.64% -
Monadelphous Group Ltd
Australia Australasian Equities2.59% -
Beach Energy Ltd
Australia Australasian Equities2.56%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 10.0% | 10.76% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 90.0% | 81.72% |
| International Equities | 0.0% | 0.0% |
| Listed Properties | 0.0% | 7.42% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.1% |
| Commodities | 0.0% | 0.0% |
Investment Mix
How the money in this fund is invested against the fund's targets.
Target
Actual
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.