BNZ KiwiSaver Conservative Fund

In their own words: "The Conservative Fund invests mostly in income assets which generally have lower levels of risk and return. It has a modest allocation to growth assets which generally have higher levels of risk with the potential for higher returns. It aims to achieve relatively stable returns over the short to medium term."

At a glance:

Not Mindful
Type: Conservative fund
Past Returns: 4.05%

Average annual returns over the past 3 years, after fees and taxes. *indicates less than three years of data.

Annual Fees: 0.58%

Annual fees, including membership and % management fee.

More information:

A summary of this fund and it's details.

Number FND516
Name BNZ KiwiSaver Conservative Fund
Risk profile Conservative fund
Description The Conservative Fund invests mostly in income assets which generally have lower levels of risk and return. It has a modest allocation to growth assets which generally have higher levels of risk with the potential for higher returns. It aims to achieve relatively stable returns over the short to medium term.
Value $760M NZD
Members 67,416
Market index description based on a composite index made up of related market indices that represent the target investment mix (including currency hedging where relevant)
Disclosure Statement Period Tue Dec. 31st 2019
Fund started Mon Feb. 11th 2013
Three-year average return 4.05%
Market index past year return 9.00%
Past year return net charges and tax 6.79%
Past year return net of charges gross of tax 8.01%
Market index return since fund started 5.96%
Return since fund started net 4.19%
Total annual fund fees 0.58%
Total performance based fees 0.0%
Manager's basic fee 0.58%
Administration charges 0.0%
Total other charges 23.4
Total other charges currency NZD

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

The past annual returns for this fund. Please note that higher past returns do not always mean higher future returns.

Year Market Average Fund Annual Return
2019 4.40% 3.24%
2018 3.80% 4.24%
2017 4.16% 4.67%
2016 3.52% 2.16%
2015 8.10% 7.45%
2014 3.88% 3.37%

The market index is the average NZ KiwiSaver 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 KiwiSaver fund has filed with Disclose register to 30 September 2019.

Showing the top 10 investments for this fund:

  • Nikko AM Wholesale NZ Cash Fund Two
    New Zealand Cash and Equivalents
    4.39%
  • Westpac Compound Account NZD
    New Zealand Cash and Equivalents AA-
    3.23%
  • ANZ Bank New Zealand Ltd 110520 4.48 Cb
    New Zealand NZ Fixed Interest AA-
    2.47%
  • Bank Of New Zealand 180620 4.426 Cb
    New Zealand NZ Fixed Interest AA-
    2.27%
  • Ird Deposit Nzttc 2.15% 19/12/2019 21/01/2020
    New Zealand Cash and Equivalents AA+
    1.8%
  • ASB Bank Ltd 270220 Frn
    New Zealand NZ Fixed Interest AA-
    1.64%
  • Asbbnk Term Deposit 2.35% 20/09/2019 17/09/2020
    New Zealand Cash and Equivalents AA-
    1.59%
  • Auckland Council 240920 4.017 Gb
    New Zealand NZ Fixed Interest AA
    1.56%
  • Rabobank Nederland New Zealand Branch 100620 4.592 Cb
    New Zealand NZ Fixed Interest A
    1.27%
  • ASB Bank Ltd 250220 4.4225 Cb
    New Zealand NZ Fixed Interest AA-
    1.24%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

How the money in this fund is invested against the fund's targets.

Target

Actual


Type Target Actual
Cash and Cash Equivalents 35.0% 38.45%
New Zealand Fixed Interest 11.0% 8.96%
International Fixed Interest 34.0% 32.31%
Australasian Equities 6.0% 5.05%
International Equities 14.0% 15.23%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Unknown None% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

Key Personnel

  • Christine Yates [New]

    Currently: Director, BNZ Investment Services Limited (0 years, 2 months)
    Previously: Chief Customer Officer, Private Wealth and Insurances, BNZ (current Position) (0 years, 10 months)

  • Hayley Cassidy

    Currently: Director, BNZ Investment Services Limited (0 years, 8 months)
    Previously: Chief General Counsel, BNZ (current position) (0 years, 9 months)

  • Paul Richardson [New]

    Currently: Director, BNZ Investment Services Limited (0 years, 1 months)
    Previously: Chief Investment Officer/Executive Director (4 years, 8 months)

  • Richard Ansell

    Currently: Director, BNZ Investment Services Limited (0 years, 10 months)
    Previously: Chair, BNZ Investment Review Committee (0 years, 10 months)

  • Richard Morath

    Currently: Director, BNZ Investment Services Limited (6 years, 6 months)
    Previously: Non-Executive Director, BNZ Life Insurance Limited (current position) (16 years, 1 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Is it excluded?
    Portfolio analysis
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.28%
  • Animal Testing:
    1.37%
  • Fossil Fuels:
    1.25%
  • Gambling:
    0.17%
  • GMOs:
    0.18%
  • Human Rights & Environmental Violations:
    0.64%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.00%
  • Weapons:
    0.01%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 30 September 2019 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 and research organisations.

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

Note that many KiwiSaver funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons

Specific companies invested in:

Fossil Fuel

Exxon Mobil Corp 0.10%
Chevron Corporation 0.07%
Royal Dutch Shell Plc-A Shs 0.04%
Royal Dutch Shell Plc - B Shs 0.04%
Nextera Energy Inc 0.04%
Viva Energy Group Ltd 0.04%
Total Sa 0.04%
Bp Plc 0.04%
Dominion Energy Inc 0.03%
Phillips 66 0.02%
Transcanada Corp 0.02%
Suncor Energy Inc 0.02%
Snam Spa 0 25/10/2020 0.02%
Sinopec Group Overseas Development 2013 Ltd 5.375 17/10/2043 0.02%
Enbridge Inc 0.02%
Conocophillips 0.02%
Newfield Exploration Co 5.375 1/01/2026 0.01%
Petroleos Mexicanos 5.35 12/02/2028 0.01%
Petroleos Mexicanos 6.35 12/02/2048 0.01%
Petroleo Brasileiro Sa Petrobras 0.01%
Pembina Pipeline Corp 0.01%
Pioneer Natural Resources Co 0.01%
Occidental Petroleum Corp 0.01%
Omv Ag 4.25 12/10/2021 0.01%
Oneok Inc 0.01%
Kinder Morgan Inc/De 5.55 1/06/2045 0.01%
Kinder Morgan Inc/De 0.01%
Marathon Petroleum Corp 4.75 15/12/2023 0.01%
Marathon Petroleum Corp 0.01%
Valero Energy Corp 0.01%
Total Capital International Sa 0.696 31/05/2028 0.01%
Total Sa 2.625 #N/A Field Not Applicable 0.01%
Total Capital International Sa 2.125 19/11/2021 0.01%
Total Capital International Sa 3.455 19/02/2029 0.01%
Williams Companies Inc 0.01%
Repsol Sa 0.01%
Repsol International Finance Bv 0.25 2/08/2027 0.01%
Puget Sound Energy Inc 5.795 15/03/2040 0.01%
Sunoco Logistics Partners Operations Lp 3.9 15/07/2026 0.01%
Shell International Finance Bv 4.375 11/05/2045 0.01%
Shell International Finance Bv 3.4 12/08/2023 0.01%
Shell International Finance Bv 1.625 20/01/2027 0.01%
Conocophillips Co 4.3 15/11/2044 0.01%
Bp Capital Markets Plc 1.827 8/09/2025 0.01%
Bp Capital Markets Plc 1.573 16/02/2027 0.01%
Bp Capital Markets America Inc 2.112 16/09/2021 0.01%
Canadian Natural Resources Ltd 0.01%
BHP Group Plc 0.01%
BHP Billiton Finance Ltd 3.25 25/09/2024 0.01%
BHP Billiton Finance Ltd 3 29/05/2024 0.01%
Bp Capital Markets America Inc 3.937 21/09/2028 0.01%
Bp Capital Markets America Inc 2.75 10/05/2023 0.01%
Cnooc Finance 2013 Ltd 2.875 30/09/2029 0.01%
Cnooc Ltd 0.01%
China Petroleum & Chemical - H 0.01%
Anglo American Plc 0.01%
Anglo American Capital Plc 4.125 15/04/2021 0.01%
Abu Dhabi National Energy Co Pjsc 3.625 12/01/2023 0.01%
Glencore Finance Europe Ltd 1.875 13/09/2023 0.01%
Glencore Funding Llc 4.875 12/03/2029 0.01%
Glencore Plc 0.01%
Husky Energy Inc 3.95 15/04/2022 0.01%
Hess Corp 7.125 15/03/2033 0.01%
Dominion Energy Inc 2 15/08/2021 0.01%
Continental Resources Inc/Ok 4.5 15/04/2023 0.01%
Eog Resources Inc 0.01%
Equinor Asa 3.95 15/05/2043 0.01%
Equinor Asa 3.25 10/11/2024 0.01%
Equinor Asa 3.15 23/01/2022 0.01%
Equinor Asa 1.25 17/02/2027 0.01%
Equinor Asa 0.01%
Engie Sa 7 30/10/2028 0.01%
Eni Spa 0.01%
Engie Sa 2.625 20/07/2022 0.01%
Engie Sa 1.875 19/09/2033 0.01%
Engie Sa 0.01%
Energy Transfer Operating Lp 6.5 1/02/2042 0.01%
Eni Spa 3.75 12/09/2025 0.01%
Reliance Industries Ltd 0.02%
Gazprom 0.01%

Weapons

Transdigm Group Inc 0.01%

Gambling

Sky City Entertainment Group 0.10%
Aristocrat Leisure Ltd 0.06%
Las Vegas Sands Corp 0.01%

Alcohol

Lvmh Moet Hennessy Louis Vui 0.03%
Diageo Plc 0.03%
Treasury Wine Estates Ltd 0.02%
Anheuser-Busch Inbev Nv 0.02%
Anheuser-Busch Cos Llc / Anheuser-Busch Inbev Worldwide Inc 4.9 1/02/2046 0.02%
Pernod Ricard Sa 0.01%
Kirin Holdings Co Ltd 0.01%
Brown-Forman Corp-Class B 0.01%
Carlsberg Breweries A/S 0.5 6/09/2023 0.01%
Carlsberg A/S 0.01%
Anheuser-Busch Inbev Worldwide Inc 4.6 15/04/2048 0.01%
Anheuser-Busch Inbev Sa/Nv 2.875 25/09/2024 0.01%
Anheuser-Busch Inbev Sa/Nv 2.75 17/03/2036 0.01%
Anheuser-Busch Inbev Finance Inc 3.3 1/02/2023 0.01%
Anheuser-Busch Inbev Finance Inc 2.65 1/02/2021 0.01%
Anheuser-Busch Inbev Worldwide Inc 4.75 23/01/2029 0.01%
Ambev Sa 0.01%
Asahi Group Holdings Ltd 0.01%
Heineken Nv 0.01%
Delegat Group Ltd 0.01%
Constellation Brands Inc-A 0.01%

Palm Oil

Posco 2.75 15/07/2024 0.01%

GMOs

Novartis Ag 0.06%
Bayer Ag-Reg 0.02%
Basf Se 0.02%
Du Pont De Nemours 0.02%
Nutrien Ltd 0.01%
Novartis Capital Corp 3.1 17/05/2027 0.01%
Nutrien Ltd 4 15/12/2026 0.01%
Basf Se 0.875 6/10/2031 0.01%
Dupont De Nemours Inc 4.725 15/11/2028 0.01%
Dupont De Nemours Inc 5.419 15/11/2048 0.01%

Human Rights & Environmental Violations

Nestle Sa-Reg 0.11%
Johnson & Johnson 0.11%
Chevron Corporation 0.07%
Royal Dutch Shell Plc-A Shs 0.04%
Royal Dutch Shell Plc - B Shs 0.04%
Nestle Holdings Inc 3.625 24/09/2028 0.02%
Duke Energy Corp 0.02%
Nestle Finance International Ltd 0.375 18/01/2024 0.01%
Nestle Holdings Inc 0.875 18/07/2025 0.01%
Nestle Holdings Inc 1.375 13/07/2021 0.01%
Petroleo Brasileiro Sa Petrobras 0.01%
Posco 2.75 15/07/2024 0.01%
Nutrien Ltd 0.01%
Nutrien Ltd 4 15/12/2026 0.01%
Johnson & Johnson 3.625 3/03/2037 0.01%
Johnson & Johnson 1.15 20/11/2028 0.01%
Sempra Energy 0.01%
Vale Sa 0.01%
Shell International Finance Bv 4.375 11/05/2045 0.01%
Shell International Finance Bv 3.4 12/08/2023 0.01%
Shell International Finance Bv 1.625 20/01/2027 0.01%
BHP Group Plc 0.01%
BHP Billiton Finance Ltd 3.25 25/09/2024 0.01%
BHP Billiton Finance Ltd 3 29/05/2024 0.01%
Barrick Gold Corp 0.01%
Archer-Daniels-Midland Co 0.01%
Glencore Finance Europe Ltd 1.875 13/09/2023 0.01%
Glencore Funding Llc 4.875 12/03/2029 0.01%
Glencore Plc 0.01%
Essity Aktiebolag-B 0.01%

Animal Testing

Nestle Sa-Reg 0.110%
Johnson & Johnson 0.110%
Procter and Gamble Co/The 0.100%
Chevron Corporation 0.070%
Coca-Cola Co/The 0.070%
Pepsico Inc 0.060%
Royal Dutch Shell Plc-A Shs 0.040%
Royal Dutch Shell Plc - B Shs 0.040%
Lvmh Moet Hennessy Louis Vui 0.030%
Unilever Nv-Cva 0.030%
Glaxosmithkline Plc 0.030%
Nestle Holdings Inc 3.625 24/09/2028 0.020%
Kimberly-Clark Corp 0.020%
L'Oreal Sa 0.020%
Tesco Corporate Treasury Services Plc 1.375 24/10/2023 0.020%
Unilever Plc 0.020%
Reckitt Benckiser Group Plc 0.020%
Bayer Ag-Reg 0.020%
Basf Se 0.020%
Air Liquide Sa 0.020%
Air Products and Chemicals Inc. 0.020%
Colgate-Palmolive Co 0.020%
Du Pont De Nemours 0.020%
Ecolab Inc 0.020%
Danone 0.020%
Nestle Finance International Ltd 0.375 18/01/2024 0.010%
Nestle Holdings Inc 0.875 18/07/2025 0.010%
Nestle Holdings Inc 1.375 13/07/2021 0.010%
Procter & Gamble Co/The 0.5 25/10/2024 0.010%
Procter & Gamble Co/The 1.85 2/02/2021 0.010%
Praxair Inc 1.625 1/12/2025 0.010%
Ppg Industries Inc 0.010%
Kao Corporation 0.010%
Johnson & Johnson 3.625 3/03/2037 0.010%
Johnson & Johnson 1.15 20/11/2028 0.010%
Koninklijke Dsm Nv 0.010%
Kraft Heinz Foods Co 5 4/06/2042 0.010%
Kraft Heinz Co/The 0.010%
Unilever Nv 0.5 12/08/2023 0.010%
Unilever Capital Corp 3.125 22/03/2023 0.010%
Tesco Property Finance 1 Plc 7.6227 13/07/2039 0.010%
Tesco Plc 0.010%
Walgreens Boots Alliance Inc 0.010%
Shiseido Co Ltd 0.010%
Shell International Finance Bv 4.375 11/05/2045 0.010%
Shell International Finance Bv 3.4 12/08/2023 0.010%
Shell International Finance Bv 1.625 20/01/2027 0.010%
Basf Se 0.875 6/10/2031 0.010%
Clorox Company 0.010%
Coca-Cola European Partners Plc 1.5 8/11/2027 0.010%
Coca-Cola Co/The 3.2 1/11/2023 0.010%
Coca-Cola Co/The 0.75 22/09/2026 0.010%
Church & Dwight Co Inc 0.010%
Archer-Daniels-Midland Co 0.010%
Akzo Nobel Nv 2.625 27/07/2022 0.010%
Air Liquide Finance Sa 0.375 18/04/2022 0.010%
Akzo Nobel Nv 0.010%
Argentum Netherlands Bv For Zurich Insurance Co Ltd 3.5 1/10/2046 0.010%
General Mills Inc 0.010%
Glaxosmithkline Capital Plc 3.375 20/12/2027 0.010%
Givaudan Sa 0.010%
Henkel Ag & Co Kgaa 0.010%
Estee Lauder Cos Inc/The 0.010%
Essity Aktiebolag-B 0.010%

Download the fund's disclosure statement and portfolio holdings.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.