Kiwi Wealth Default

In their own words: "The Default Fund is intended for short-term investment until you choose the best fund(s) for your circumstances. It holds 15% to 25% in shares and other growth assets at all times, with the remainder invested in a combination of cash and fixed interest assets. Its objective is to deliver a benchmark return similar to being invested in a fund of 50% in New Zealand cash, 30% in New Zealand fixed interest assets and 20% in shares and other growth assets. This Fund is certified by the Responsible Investment Association of Australasia (RIAA) and engages with companies to improve their performance."

At a glance:

Not Mindful
Type: Conservative fund
Past Returns: *3.80%

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

Annual Fees: 0.78%

Annual fees, including membership and % management fee.

More information:

A summary of this fund and it's details.

Number FND553
Name Kiwi Wealth Default
Risk profile Conservative fund
Description The Default Fund is intended for short-term investment until you choose the best fund(s) for your circumstances. It holds 15% to 25% in shares and other growth assets at all times, with the remainder invested in a combination of cash and fixed interest assets. Its objective is to deliver a benchmark return similar to being invested in a fund of 50% in New Zealand cash, 30% in New Zealand fixed interest assets and 20% in shares and other growth assets. This Fund is certified by the Responsible Investment Association of Australasia (RIAA) and engages with companies to improve their performance.
Value $250M NZD
Members 31,968
Market index description The market index return is the strategic asset allocation weighted benchmark index return, where the benchmark indicies are defined in the Statement of Investment Policy and Objectives. Additional information about the market index is available on the Disclose offer register at https://disclose-register.companiesoffice.govt.nz/
Disclosure Statement Period Mon Sept. 30th 2019
Fund started Tue July 1st 2014
Three-year average return *3.80%
Market index past year return 4.99%
Past year return net charges and tax 4.0%
Past year return net of charges gross of tax 5.5%
Market index return since fund started 5.43%
Return since fund started net 4.24%
Total annual fund fees 0.78%
Total performance based fees 0.0%
Manager's basic fee 0.74%
Administration charges 0.04%
Total other charges 0.0
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% 3.69%
2018 3.80% 3.92%
2017 4.16% 4.65%
2016 3.52% 2.43%

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:

  • Westpac NZD Account
    New Zealand Cash and Equivalents AA-
    4.86%
  • New Zealand Local Government Funding Agency Bond 14/4/2033
    New Zealand NZ Fixed Interest AA+
    1.89%
  • Landwirtschaftliche Rentenbank 23/4/2024
    Germany Int Fixed Interest AAA
    1.89%
  • United States Treasury Note 15/5/2029
    United States Int Fixed Interest AA+
    1.85%
  • Kommunalbanken As 20/8/2025
    Norway Int Fixed Interest AAA
    1.67%
  • New Zealand Local Government Funding Agency Bond 15/4/2027
    New Zealand NZ Fixed Interest AA+
    1.47%
  • Housing New Zealand Ltd 18/10/2028
    New Zealand NZ Fixed Interest AA+
    1.33%
  • Kreditanstalt Fuer Wiederaufbau 7/3/2023
    Germany Int Fixed Interest AAA
    1.3%
  • ANZ Bank Term Deposit 25/11/2019
    New Zealand Cash and Equivalents AA-
    1.22%
  • Bank Of New Zealand Term Deposit 9/12/2019
    New Zealand Cash and Equivalents AA-
    0.94%

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 50.0% 36.44%
New Zealand Fixed Interest 30.0% 15.36%
International Fixed Interest 0.0% 28.42%
Australasian Equities 0.0% 0.41%
International Equities 20.0% 18.98%
Listed Properties 0.0% 0.39%
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

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 1 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management New York (10 years, 10 months)

  • Greg Hayton

    Currently: Cash Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (9 years, 11 months)
    Previously: Portfolio Administrator - Gareth Morgan Investments Limited Partnership (1 years, 6 months)

  • Nathan Field

    Currently: Portfolio Manager, Equities - Kiwi Wealth Investments Limited Partnership (9 years, 4 months)
    Previously: Senior Equity Analyst - ABN Amro, Sydney (4 years, 6 months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (6 years, 11 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, 0 months)

  • Steffan Berridge

    Currently: Senior Quantitative Strategist – Kiwi Wealth Investments Limited Partnership (6 years, 0 months)
    Previously: Portfolio Manager - Man Group PLC (9 years, None 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:
    0.48%
  • Animal Testing:
    2.31%
  • Fossil Fuels:
    2.40%
  • Gambling:
    0.22%
  • GMOs:
    0.18%
  • Human Rights & Environmental Violations:
    1.46%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.00%
  • Weapons:
    0.26%

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

BHP Billiton Finance Ltd 30/3/2020 0.37%
Bp Capital Markets Plc 10/2/2024 0.32%
Total Capital International Sa 2/9/2020 0.18%
Chevron Corp 16/5/2021 0.17%
Chevron Corp 0.13%
Nextera Energy Inc 0.09%
Bp Plc 0.07%
Exxon Mobil Corp 0.07%
Total Capital International Sa 19/6/2021 0.07%
Total Sa 0.07%
Eog Resources Inc 0.06%
Royal Dutch Shell 0.06%
Marathon Petroleum Corp 0.06%
Oneok Inc 0.06%
Pioneer Natural Resources Co 0.05%
Royal Dutch Shell B Shares 0.05%
Oneok Partners Lp 15/9/2023 0.04%
BHP Billiton 0.04%
Oneok Partners Lp 15/3/2025 0.04%
BHP Billiton Plc 0.03%
Diamondback Energy Inc 0.03%
Enbridge Inc 0.03%
Suncor Energy Inc 0.03%
Oil Co Lukoil Pjsc Adr Each Repr 1 Ord Rub 0.02 0.02%
Concho Resources Inc 0.02%
Canadian Natural Resources Ltd 0.02%
Snam Spa 0.01%
Ptt Public Company Thb1 Alien 0.01%
Jxtg Holdings Inc 0.01%
Gazprom Pjsc 0.01%
China Petroleum & Chemical 0.01%
Lyondellbasell Industries Nv 0.01%
Total Capital International 4.25% 26/11/2021 26/11/2021 0.01%
Gazprom Pjsc Spon Adr 0.01%
China Shenhua Energy Company Limited 0.01%
Pembina Pipeline 0.01%
Lundin Petroleum Ab 0.01%
S-Oil Corporation 0.01%
Sk Innovation Co Ltd 0.01%
Glencore Plc 0.01%
Parsley Energy Inc 0.01%
Woodside Petroleum Ltd 0.01%
Cnooc Ltd 0.01%
The Thai Oil Public Company Limited 0.01%
Polski Koncern Naftowy 0.01%
Cheniere Energy Inc 0.01%
Petrochina Co Ltd H 0.01%
Tatneft Pjsc Ads 0.01%

Weapons

Raytheon Company 0.08%
Airbus Se 0.05%
Boeing Co/The 0.04%
Safran Sa 0.04%
Thales (Ex Thomson - Csf) 0.03%
Transdigm Group Inc 0.01%
Larsen & Toubro-Gdr 0.01%

Gambling

William Hill Plc 7/9/2023 0.18%
Las Vegas Sands Corp 0.01%
Galaxy Entertainment Group Limited 0.01%
Sega Sammy Holdings Inc 0.01%
Sands China Limited 0.01%

Alcohol

Constellation Brands Inc 1/5/2021 0.14%
Diageo Plc 0.08%
Lvmh Moet Hennessy Louis Vuitton Se 0.06%
Pernod-Ricard Sa 0.04%
Constellation Brands Inc-A 0.03%
Anheuser Busch Inbev Sa Nv 0.03%
Carlsberg A/S 0.02%
Heineken Nv 0.02%
Asahi Group Holdings Ltd 0.02%
Ambev Sa 0.02%
Davide Campari-Milan 0.01%
Kirin Holdings Co Ltd 0.01%

Palm Oil

Posco 0.01%

GMOs

Novartis 0.10%
Dupont De Nemours Inc 0.03%
Bayer Ag 0.02%
Nutrien Ltd Com Npv 0.01%
Novozymes A/S Ser`B`Dkk2 0.01%
Basf Se 0.01%

Human Rights & Environmental Violations

BHP Billiton Finance Ltd 30/3/2020 0.37%
Johnson & Johnson 20/5/2024 0.35%
Nestle S.A. 0.18%
Chevron Corp 0.13%
Johnson & Johnson 0.11%
Royal Dutch Shell 0.06%
Royal Dutch Shell B Shares 0.05%
Sempra Energy 0.04%
BHP Billiton 0.04%
BHP Billiton Plc 0.03%
Petroleo Brasileiro Sa - Adr 0.02%
Johnson & Johnson 15/1/2028 0.02%
Nutrien Ltd Com Npv 0.01%
Posco 0.01%
Wal Mart De Mexico 0.01%
Grupo Mexico Sab De Cv-Ser B 0.01%
Glencore Plc 0.01%
Petrochina Co Ltd H 0.01%

Animal Testing

Johnson & Johnson 20/5/2024 0.350%
Tesco Corporate Treasury Services Plc 1/7/2024 0.200%
Ecolab Inc 8/12/2021 0.180%
Nestle S.A. 0.180%
Coca Cola 0.150%
Procter & Gamble Co/The 0.150%
Procter & Gamble Co/The 2/11/2023 0.150%
Chevron Corp 0.130%
Johnson & Johnson 0.110%
Unilever Plc 0.070%
Pepsico Inc 0.060%
Royal Dutch Shell 0.060%
Lvmh Moet Hennessy Louis Vuitton Se 0.060%
Royal Dutch Shell B Shares 0.050%
General Mills Inc 0.040%
Air Liquide 0.030%
Glaxosmithkline Plc 0.030%
Danone Sa 15/6/2022 0.030%
Akzo Nobel Nv Eur0.50 0.020%
Bayer Ag 0.020%
Shiseido Co Ltd 0.020%
Kimberly-Clark Corp 0.020%
Johnson & Johnson 15/1/2028 0.020%
Arkema 0.020%
L'Oreal Sa 0.020%
Burberry Group Plc 0.020%
Reckitt Benckiser Group Plc 0.020%
Clorox Co Del 0.010%
Novozymes A/S Ser`B`Dkk2 0.010%
Colgate-Palmolive Co 0.010%
Basf Se 0.010%
Johnson Matthey Plc 0.010%
Chr Hansen Holding A S 0.010%
Mitsui Chemicals Inc 0.010%
Henkel Ag & Co Kgaa Vorzug 0.010%
Estee Lauder Cos Inc/The 0.010%
Newell Brands Inc 0.010%

Download the fund's disclosure statement and portfolio holdings.

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You should be prudent about your investment.

Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital investment. Past returns are not a guide to future returns. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Advisers Act 2008 and any associated regulations.

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.