Milford KiwiSaver Conservative Fund

In their own words: "The Fund’s objective is to provide moderate returns and protect capital after the base fund fee but before tax over the minimum recommended investment timeframe of three years.It is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities."

At a glance:

Not Mindful
Type: Conservative fund
Past Returns: *4.46%

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

Annual Fees: 0.95%

Annual fees, including membership and % management fee.

More information:

A summary of this fund and it's details.

Number FND747
Name Milford KiwiSaver Conservative Fund
Risk profile Conservative fund
Description The Fund’s objective is to provide moderate returns and protect capital after the base fund fee but before tax over the minimum recommended investment timeframe of three years.It is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities.
Value $120M NZD
Members 3,098
Market index description The market index return is the benchmark asset allocation weighted benchmark index return, as defined in the Statement of Investment Policy and Objectives.
Disclosure Statement Period Mon Sept. 30th 2019
Fund started Mon Oct. 1st 2012
Three-year average return *4.46%
Market index past year return 8.82%
Past year return net charges and tax 6.01%
Past year return net of charges gross of tax 7.68%
Market index return since fund started 7.32%
Return since fund started net 7.54%
Total annual fund fees 0.95%
Total performance based fees 0.0%
Manager's basic fee 0.89%
Administration charges 0.06%
Total other charges 36.0
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% 4.4%
2018 3.80% 4.53%
2017 4.16% 5.46%
2016 3.52% 3.08%
2015 8.10% 15.07%
2014 3.88% 8.53%

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:

  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    4.48%
  • Societe Generale 4.875% 12/09/2024
    France Int Fixed Interest BB
    1.68%
  • Bank Of China 3% 21/01/2020
    New Zealand NZ Fixed Interest A
    1.41%
  • Qbe Insurance Group 6.75% 02/12/2044
    Australia Int Fixed Interest BBB-
    1.4%
  • John Deere 1.75% 04/10/2024
    United States Int Fixed Interest A
    1.32%
  • Vector Ltd 3.45% 27/05/2025
    New Zealand NZ Fixed Interest BBB
    1.32%
  • ANZ Bank 3.03% 20/03/2024
    New Zealand NZ Fixed Interest AA-
    1.28%
  • AUD Cash Current Account (Nab Bank)
    Australia Cash and Equivalents AA-
    1.24%
  • Westpac 2.22% 29/07/2024
    New Zealand NZ Fixed Interest AA-
    1.2%
  • ANZ Bank Float 29/08/2024
    Australia Int Fixed Interest AA-
    1.19%

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 6.0% 8.59%
New Zealand Fixed Interest 35.0% 26.23%
International Fixed Interest 41.0% 52.18%
Australasian Equities 6.0% 3.89%
International Equities 8.0% 5.2%
Listed Properties 4.0% 3.91%
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

  • Jonathan Windust

    Currently: Portfolio Manager (11 years, 6 months)
    Previously: Investment Director at Gartmore Investment Management, United Kingdom (7 years, 0 months)

  • Mark Riggall

    Currently: Portfolio Manager, Senior Dealer (4 years, 9 months)
    Previously: Executive Director of Equity Derivatives Trading at Morgan Stanley, United Kingdom and Hong Kong (11 years, 0 months)

  • Paul Morris

    Currently: Portfolio Manager (3 years, 8 months)
    Previously: Head of Portfolio Strategy and Fixed Income at Macquarie Private Wealth, New Zealand (4 years, 6 months)

  • Stephen Johnston

    Currently: Portfolio Manager (6 years, 0 months)
    Previously: Senior Portfolio Manager at Adelante Asset Management, United Kingdom (4 years, 0 months)

  • William Curtayne

    Currently: Portfolio Manager (6 years, 0 months)
    Previously: Senior Analyst at Milford Asset Management, New Zealand (2 years, 8 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:
    0.18%
  • Animal Testing:
    0.34%
  • Fossil Fuels:
    0.98%
  • Gambling:
    0.55%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.02%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.05%

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

Origin Energy Finance 5.45% 14/10/2021 0.57%
Apa Group 0.18%
Origin Energy Limited 0.15%
Eog Resources Inc 0.03%
BHP Group Ltd 0.02%
Woodside Petroleum Ltd 0.02%
Santos Ltd 0.01%

Weapons

Transdigm Group Inc 0.05%

Gambling

Crown Resorts Ltd Frn 04/23/2075 0.54%
Aristocrat Leisure Ltd 0.01%

Alcohol

Diageo Plc 0.08%
Lvmh Moet Hennessy Louis Vui 0.08%
Delegat Group Ltd 0.02%

Human Rights & Environmental Violations

BHP Group Ltd 0.02%

Animal Testing

Estee Lauder Cos Inc/The 0.110%
L'Oreal Sa - Loyalty 2020 0.090%
Lvmh Moet Hennessy Louis Vui 0.080%
Ecolab Inc 0.060%

Download the fund's disclosure statement and portfolio holdings.

Latest news

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.