Milford KiwiSaver Balanced 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, over the minimum recommended investment timeframe of five years.It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities."

At a glance:

Not Mindful
Type: Balanced fund
Past Returns: 7.28%

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

Annual Fees: 1.29%

Annual fees, including membership and % management fee.

More information:

A summary of this fund and it's details.

Number FND748
Name Milford KiwiSaver Balanced Fund
Risk profile Balanced fund
Description The Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of five years.It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities.
Value $400M NZD
Members 8,760
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 Tue Dec. 31st 2019
Fund started Thu April 1st 2010
Three-year average return 7.28%
Market index past year return 18.90%
Past year return net charges and tax 16.25%
Past year return net of charges gross of tax 17.7%
Market index return since fund started 9.27%
Return since fund started net 8.81%
Total annual fund fees 1.29%
Total performance based fees 0.18%
Manager's basic fee 1.02%
Administration charges 0.09%
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 5.68% 6.15%
2018 5.63% 7.45%
2017 6.10% 8.25%
2016 4.01% 4.31%
2015 11.09% 15.12%
2014 7.28% 10.47%
2013 10.75% 17.52%
2012 1.75% 3.34%
2011 5.30% 4.2%

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-
    4.33%
  • EUR Cash Current Account (Citibank)
    Germany Cash and Equivalents A+
    2.34%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities N/A
    1.76%
  • A2 Milk Company Ltd
    New Zealand Australasian Equities
    1.59%
  • Contact Energy Ltd
    New Zealand Australasian Equities
    1.5%
  • Microsoft Corporation
    United States International Equities
    1.22%
  • Alphabet Inc - Class C
    United States International Equities
    1.13%
  • Visa Inc. - Class A
    United States International Equities
    1.11%
  • Transurban Group
    Australia Australasian Equities
    0.93%
  • Hdfc Bank Ltd
    India International Equities
    0.91%

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 8.0% 6.32%
New Zealand Fixed Interest 8.0% 6.47%
International Fixed Interest 23.0% 24.05%
Australasian Equities 29.0% 22.16%
International Equities 26.0% 29.81%
Listed Properties 6.0% 8.72%
Unlisted Properties 0.0% 0.0%
Unknown None% 0.0%
Other 0.0% 2.47%
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, 9 months)
    Previously: Investment Director at Gartmore Investment Management, United Kingdom (7 years, 0 months)

  • Mark Riggall

    Currently: Portfolio Manager, Senior Dealer (5 years, 0 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, 11 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, 3 months)
    Previously: Senior Portfolio Manager at Adelante Asset Management, United Kingdom (4 years, 0 months)

  • William Curtayne

    Currently: Portfolio Manager (6 years, 3 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:
    0.93%
  • Animal Testing:
    1.48%
  • Fossil Fuels:
    1.78%
  • Gambling:
    0.52%
  • GMOs:
    0.04%
  • Human Rights & Environmental Violations:
    0.37%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.25%

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 Group Ltd 0.33%
Apa Group 0.29%
Woodside Petroleum Ltd 0.28%
Origin Energy Limited 0.26%
Santos Ltd 0.16%
Eog Resources Inc 0.16%
Origin Energy Finance 5.45% 14/10/2021 0.08%
Senex Energy Ltd 0.04%
Sundance Energy Australia Lt 0.03%
Beach Energy Ltd 0.01%
Oil Company Lukoil Pjsc Adr 0.03%
Total Sa 0.03%
Reliance Industries Ltd 0.03%

Weapons

Transdigm Group Inc 0.21%
Airbus Se 0.02%
Safran S.A. 0.01%

Gambling

Crown Resorts Ltd Frn 04/23/2075 0.36%
Aristocrat Leisure Ltd 0.16%

Alcohol

Diageo Plc 0.31%
Lvmh Moet Hennessy Louis Vui 0.30%
Delegat Group Ltd 0.19%
Metcash Limited 0.06%
Treasury Wine Estates Ltd 0.01%
Lvmh Moet Hennessy Louis Vuitton Se 0.03%
Anheuser-Busch Inbev Sa/Nv 0.01%

GMOs

Bayer Ag 0.02%
Basf Se 0.01%

Human Rights & Environmental Violations

BHP Group Ltd 0.33%

Animal Testing

Estee Lauder Cos Inc/The 0.440%
L'Oreal Sa - Loyalty 2020 0.350%
Lvmh Moet Hennessy Louis Vui 0.300%
Ecolab Inc 0.220%
Lvmh Moet Hennessy Louis Vuitton Se 0.025%
Unilever Nv 0.018%
Bayer Ag 0.015%
L'Oreal Sa 0.014%
Basf Se 0.014%
Air Liquide Sa 0.013%
Danone Sa 0.011%

Download the fund's disclosure statement and portfolio holdings.

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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.