Funds

Generate KiwiSaver Stepping Stones 0-35

Total Ethical Concerns: 12.06%

The average total concerns of all KiwiSaver aggressive funds is 10.67%.

Companies of Concern

  • Animal Cruelty 1.51%

    • Hermès International Sca
      0.29%
      0.29%
    • Unilever PLC
      0.06%
      0.06%
    • 0.05%
    • Colgate-Palmolive Co.
      0.04%
      0.04%
    • Henkel AG & Co. Kgaa
      0.03%
      0.03%
    • Koninklijke Ahold Delhaize Nv
      0.02%
      0.02%
    • Shell
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Air Liquide
      0.01%
      0.01%
    • Chevron Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Prada Spa
      0.01%
      0.01%
    • Reliance Industries Ltd.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
  • Human Rights Violations 3.66%

    • 2.78%
    • Ck Hutchison
      0.04%
      0.04%
    • Grupo México S.A.B. De C.V.
      0.02%
      0.02%
    • 0.02%
    • Nestlé
      0.02%
      0.02%
    • Rio Tinto
      0.02%
      0.02%
    • 0.02%
    • General Motors
      0.01%
      0.01%
  • Social Harm 0.18%

  • Fossil Fuels 4.35%

    • Contact Energy Ltd.
      2.20%
      1.5°C
      This company is on a 1.5°C pathway
      2.20%
    • Cheniere Energy, Inc.
      1.16%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      1.16%
    • Delta Air Lines, Inc.
      0.35%
      0.35%
    • Dassault Systèmes Se
      0.05%
      0.05%
    • National Grid PLC
      0.05%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.05%
    • Ck Hutchison
      0.04%
      0.04%
    • Conocophillips
      0.04%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.04%
    • Samsung C&T Corp.
      0.04%
      0.04%
    • Totalenergies Se
      0.04%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.04%
    • Constellation Energy Corp.
      0.03%
      0.03%
    • Nextera Energy, Inc.
      0.03%
      0.03%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Centrica PLC
      0.02%
      0.02%
    • Consolidated Edison, Inc.
      0.02%
      0.02%
    • Endesa SA
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • Engie SA
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Eog Resources, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Grupo México S.A.B. De C.V.
      0.02%
      0.02%
    • Rio Tinto
      0.02%
      0.02%
    • Shell
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • The Kansai Electric Power Co., Inc.
      0.02%
      0.02%
    • Chevron Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Enel
      0.01%
      1.5°C
      This company is on a 1.5°C pathway
      0.01%
    • Lg Corp.
      0.01%
      0.01%
    • Mitsui & Co., Ltd.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Osaka Gas
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Reliance Industries Ltd.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Vista Energy Sab De Cv
      0.01%
      0.01%
  • Weapons 1.97%

    • Amphenol Corp.
      1.03%
      1.03%
    • 0.74%
    • Airbus
      0.03%
      0.03%
    • Teledyne Technologies, Inc.
      0.03%
      0.03%
    • Bae Systems PLC
      0.02%
      0.02%
    • Dassault Aviation SA
      0.02%
      0.02%
    • Larsen & Toubro Ltd.
      0.02%
      0.02%
    • Thales SA
      0.02%
      0.02%
    • 0.02%
    • Booz Allen Hamilton Holding Corp.
      0.01%
      0.01%
  • Environmental Harm 0.68%

    • 0.32%
    • Coca-Cola
      0.17%
      0.17%
    • Unilever PLC
      0.06%
      0.06%
    • 0.03%
    • Wh Group
      0.03%
      0.03%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Shell
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Chevron Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%

Fund Provider Response

We invest in fossil fuel companies because energy is an essential resource for modern life, and we believe it is better to invest in the companies that are relative ESG leaders in the sector rather than ignoring the sector entirely.
We take a holistic approach to assessing a company's prospective ESG leadership, including the carbon intensity of current oil production facilities, initiatives to reduce this carbon intensity to help meet net zero goals, capital allocation policies including for green energy initiatives, and ESG scores on both the MSCI and Sustainalytics ratings scales.

From the Fund Provider

  • About this fund

    About this Fund

    The Stepping Stones 0 - 35 years old investment option aims to provide a higher return over the long term. It invests in an actively managed portfolio made up predominately of growth assets with a minor allocation of income assets. Volatility is likely to be the highest of the investment options. Returns will vary and may be low or negative at times.

    Value $57.6M NZD
    Period of data report 31st March 2025
    Members 3,950
    Fund started 16th April 2013
    Total annual fund fees 1.29%
    Total performance based fees 0.0%
    Manager's basic fee 1.16%
    Other management and administration charges 0.13%
    Total other charges 36.0
    Total other charges currency NZD

    Sam Goldwater

    Currently: Chief Investment Officer/Investment Committee Member/Executive Director (12 years, 0 months)
    Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)

    Daniel Frost

    Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (7 years, 2 months)
    Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

    Andrew Bolland

    Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (5 years, 9 months)
    Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

    Ayrton Oliver

    Currently: Portfolio Manager - Fixed Income (4 years, 0 months)
    Previously: Vice President, JP Morgan Chief Investment Office, International Rates and FX Portfolio Management (7 years, 0 months)

    Nathan Field

    Currently: Portfolio Manager - Global Equities (2 years, 1 months)
    Previously: Portfolio Manager, Global Thematic Fund, Kiwi Wealth (13 years, 0 months)

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    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
    2025 4.37% 5.1%
    2024 16.75% 24.69%
    2023 -4.84% -3.03%
    2022 3.55% 0.16%
    2021 33.87% 26.82%
    2020 -6.10% -0.73%
    2019 10.35% 9.03%
    2018 6.95% 12.08%
    2017 10.40% 6.79%
    2016 4.51% 5.02%

    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 KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Investments

    Top 10 Investments

    • T Rowe Price Global Equity Fund

      Australia International Equities

      5.63%
    • ASB NZ Dollar Cash Account

      New Zealand Cash and Equivalents A1

      4.24%
    • Amazon.Com

      United States International Equities

      3.57%
    • Fisher & Paykel Healthcare Ltd

      New Zealand Australasian Equities

      3.49%
    • Nvidia

      United States International Equities

      3.34%
    • Te Ahumairangi Global Equity Fund

      New Zealand International Equities

      3.25%
    • Infratil

      New Zealand Australasian Equities

      3.23%
    • Meta Platforms

      United States International Equities

      2.62%
    • Microsoft

      United States International Equities

      2.53%
    • Contact Energy

      New Zealand Australasian Equities

      2.2%
    Type Target Actual
    Cash and Cash Equivalents 5.0% 4.92%
    New Zealand Fixed Interest 0.0% 0.0%
    International Fixed Interest 0.0% 0.0%
    Australasian Equities 15.0% 23.01%
    International Equities 65.0% 65.39%
    Listed Properties 15.0% 6.39%
    Unlisted Properties 0.0% 0.29%
    Other 0.0% 0.0%
    Commodities 0.0% 0.0%

    Investment Mix

    How the money in this fund is invested by asset type.

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31st March 2025 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.

Issues of Concern

  • 1.51% Animal Cruelty
  • 3.66% Human Rights Violations
  • 0.18% Social Harm
  • 4.35% Fossil Fuels
  • 1.97% Weapons
  • 0.68% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • Hermès International Sca
      0.29%
      0.29%
    • Unilever PLC
      0.06%
      0.06%
    • 0.05%
    • Colgate-Palmolive Co.
      0.04%
      0.04%
    • Henkel AG & Co. Kgaa
      0.03%
      0.03%
    • Koninklijke Ahold Delhaize Nv
      0.02%
      0.02%
    • Shell
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Air Liquide
      0.01%
      0.01%
    • Chevron Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Prada Spa
      0.01%
      0.01%
    • Reliance Industries Ltd.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
  • Human Rights Violations

    • 2.78%
    • Ck Hutchison
      0.04%
      0.04%
    • Grupo México S.A.B. De C.V.
      0.02%
      0.02%
    • 0.02%
    • Nestlé
      0.02%
      0.02%
    • Rio Tinto
      0.02%
      0.02%
    • 0.02%
    • General Motors
      0.01%
      0.01%
  • Fossil Fuels

    • Contact Energy Ltd.
      2.20%
      1.5°C
      This company is on a 1.5°C pathway
      2.20%
    • Cheniere Energy, Inc.
      1.16%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      1.16%
    • Delta Air Lines, Inc.
      0.35%
      0.35%
    • Dassault Systèmes Se
      0.05%
      0.05%
    • National Grid PLC
      0.05%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.05%
    • Ck Hutchison
      0.04%
      0.04%
    • Conocophillips
      0.04%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.04%
    • Samsung C&T Corp.
      0.04%
      0.04%
    • Totalenergies Se
      0.04%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.04%
    • Constellation Energy Corp.
      0.03%
      0.03%
    • Nextera Energy, Inc.
      0.03%
      0.03%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Centrica PLC
      0.02%
      0.02%
    • Consolidated Edison, Inc.
      0.02%
      0.02%
    • Endesa SA
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • Engie SA
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Eog Resources, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Grupo México S.A.B. De C.V.
      0.02%
      0.02%
    • Rio Tinto
      0.02%
      0.02%
    • Shell
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • The Kansai Electric Power Co., Inc.
      0.02%
      0.02%
    • Chevron Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Enel
      0.01%
      1.5°C
      This company is on a 1.5°C pathway
      0.01%
    • Lg Corp.
      0.01%
      0.01%
    • Mitsui & Co., Ltd.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Osaka Gas
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Reliance Industries Ltd.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Vista Energy Sab De Cv
      0.01%
      0.01%
  • Weapons

    • Amphenol Corp.
      1.03%
      1.03%
    • 0.74%
    • Airbus
      0.03%
      0.03%
    • Teledyne Technologies, Inc.
      0.03%
      0.03%
    • Bae Systems PLC
      0.02%
      0.02%
    • Dassault Aviation SA
      0.02%
      0.02%
    • Larsen & Toubro Ltd.
      0.02%
      0.02%
    • Thales SA
      0.02%
      0.02%
    • 0.02%
    • Booz Allen Hamilton Holding Corp.
      0.01%
      0.01%
  • Environmental Harm

    • 0.32%
    • Coca-Cola
      0.17%
      0.17%
    • Unilever PLC
      0.06%
      0.06%
    • 0.03%
    • Wh Group
      0.03%
      0.03%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Shell
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Chevron Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%

Fund Provider Response

We invest in fossil fuel companies because energy is an essential resource for modern life, and we believe it is better to invest in the companies that are relative ESG leaders in the sector rather than ignoring the sector entirely.
We take a holistic approach to assessing a company's prospective ESG leadership, including the carbon intensity of current oil production facilities, initiatives to reduce this carbon intensity to help meet net zero goals, capital allocation policies including for green energy initiatives, and ESG scores on both the MSCI and Sustainalytics ratings scales.

About this Fund

The Stepping Stones 0 - 35 years old investment option aims to provide a higher return over the long term. It invests in an actively managed portfolio made up predominately of growth assets with a minor allocation of income assets. Volatility is likely to be the highest of the investment options. Returns will vary and may be low or negative at times.

Value $57.6M NZD
Period of data report 31st March 2025
Members 3,950
Fund started 16th April 2013
Total annual fund fees 1.29%
Total performance based fees 0.0%
Manager's basic fee 1.16%
Other management and administration charges 0.13%
Total other charges 36.0
Total other charges currency NZD

Sam Goldwater

Currently: Chief Investment Officer/Investment Committee Member/Executive Director (12 years, 0 months)
Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)

Daniel Frost

Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (7 years, 2 months)
Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

Andrew Bolland

Currently: Portfolio Manager - Property & Infrastructure, Australasian Equities (5 years, 9 months)
Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

Ayrton Oliver

Currently: Portfolio Manager - Fixed Income (4 years, 0 months)
Previously: Vice President, JP Morgan Chief Investment Office, International Rates and FX Portfolio Management (7 years, 0 months)

Nathan Field

Currently: Portfolio Manager - Global Equities (2 years, 1 months)
Previously: Portfolio Manager, Global Thematic Fund, Kiwi Wealth (13 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

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
2025 4.37% 5.1%
2024 16.75% 24.69%
2023 -4.84% -3.03%
2022 3.55% 0.16%
2021 33.87% 26.82%
2020 -6.10% -0.73%
2019 10.35% 9.03%
2018 6.95% 12.08%
2017 10.40% 6.79%
2016 4.51% 5.02%

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 KiwiSaver fund has filed with Disclose register to 31st March 2025.

Top 10 Investments

  • T Rowe Price Global Equity Fund

    Australia International Equities

    5.63%
  • ASB NZ Dollar Cash Account

    New Zealand Cash and Equivalents A1

    4.24%
  • Amazon.Com

    United States International Equities

    3.57%
  • Fisher & Paykel Healthcare Ltd

    New Zealand Australasian Equities

    3.49%
  • Nvidia

    United States International Equities

    3.34%
  • Te Ahumairangi Global Equity Fund

    New Zealand International Equities

    3.25%
  • Infratil

    New Zealand Australasian Equities

    3.23%
  • Meta Platforms

    United States International Equities

    2.62%
  • Microsoft

    United States International Equities

    2.53%
  • Contact Energy

    New Zealand Australasian Equities

    2.2%
Type Target Actual
Cash and Cash Equivalents 5.0% 4.92%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 15.0% 23.01%
International Equities 65.0% 65.39%
Listed Properties 15.0% 6.39%
Unlisted Properties 0.0% 0.29%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

Investment Mix

How the money in this fund is invested by asset type.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.