Funds

Fisher Funds Balanced Strategy

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Issues of concern

The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.

Key:

  • Adult Entertainment/Pornography
  • Alcohol
  • Animal Cruelty
  • Fossil Fuels
  • Gambling
  • GMOs
  • Human Rights & Environmental Violations
  • Palm Oil
  • Tobacco
  • Weapons

Companies of concern

  • Fossil Fuel

    • Cms Energy Corporation 0.34%
    • Kinder Morgan Inc Class P 0.33%
    • Channel Infrastructure NZ Ltd. 5.1% 01-Mar-2034 0.20%
    • Contact Energy Limited 0.16%
    • Enterprise Products Partners L.P. 0.13%
    • Contact Energy Limited Rcd 07/11/2022 08/11/2022 0.12%
    • Contact Energy Limited Rcd 19/10/2022 20/10/2022 0.12%
    • Vistra Corp. 0.09%
    • Nrg Energy, Inc. 0.08%
    • Williams Companies, Inc. 0.08%
    • Lyondellbasell Industries Nv 0.07%
    • Enbridge Inc. 0.06%
    • Ppl Corporation 0.06%
    • Atmos Energy Corporation 0.05%
    • Nisource Inc 0.05%
    • Sempra Energy 0.05%
    • Tc Energy Corporation 0.05%
    • Constellation Energy Corporation 0.04%
    • Enagas SA 0.03%
    • National Grid PLC 0.03%
    • Naturgy Energy Group, S.A. 0.03%
    • Parkland Corporation 0.03%
    • Snam S.P.A. 0.03%

  • Weapons

    • Hexcel Corporation 0.13%
    • Booz Allen Hamilton Holding Corporation Class A 0.03%

  • Alcohol

    • Delegat Group Limited 0.23%
    • Anheuser-Busch Inbev Worldwide, Inc. 5.875% 15-Jun-2035 0.06%
    • Diageo PLC 0.06%
    • Constellation Brands, Inc. Class A 0.05%
    • Heineken Holding N.V. 0.05%
    • Molson Coors Beverage Company Class B 0.03%
    • Carlsberg As Class B 0.02%

  • GMOs

    • Corteva Inc 0.03%

  • Human Rights & Environmental Violations

    • Meta Platforms Inc. Class A 1.21%
    • Johnson & Johnson 0.24%
    • Rio Tinto PLC 0.13%
    • Fmc Corporation 0.04%
    • Corteva Inc 0.03%
    • Caterpillar Inc. 0.02%

  • Animal Cruelty

    • Procter & Gamble Company 0.18%
    • Mondelez International, Inc. Class A 0.10%
    • Sherwin-Williams Company 2.95% 15-Aug-2029 0.10%
    • Lyondellbasell Industries Nv 0.07%
    • Constellation Brands, Inc. Class A 0.05%
    • Dow, Inc. 0.05%
    • Koninklijke Ahold Delhaize N.V. 0.05%
    • 3M Company 0.04%
    • Fmc Corporation 0.04%
    • Yara International Asa 0.04%
    • Corteva Inc 0.03%
    • Danone SA 0.03%
    • Dcc PLC 0.03%
    • Dupont De Nemours, Inc. 0.03%
    • Essity Ab Class B 0.03%
    • Keurig Dr Pepper Inc. 0.03%
    • LVMH Moet Hennessy Louis Vuitton Se 0.03%
    • Molson Coors Beverage Company Class B 0.03%
    • Tyson Foods, Inc. Class A 0.03%
    • Unilever PLC 0.03%
    • Associated British Foods PLC 0.02%
    • Eastman Chemical Company 0.02%
    • Henkel AG & Co. Kgaa 0.02%
    • Henkel AG & Co. Kgaa Pref 0.02%
    • Kao Corp. 0.02%
    • Kimberly-Clark Corporation 0.02%
    • L'Oreal S.A. 0.02%
    • Moncler Spa 0.02%
    • Mowi Asa 0.02%
    • Otsuka Holdings Co., Ltd. 0.02%
    • Celanese Corporation 0.01%
    • Kering SA 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 30th Sept. 2022 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.

About this fund

In their own words

This investment option aims to provide a balance between stability of returns and growing your investment over the long term by investing in a mix of income and growth assets. Automatically rebalanced each year to a target fund mix determined by us, within a range of 40% to 50% Conservative Fund and 50% to 60% Growth Fund. As at the date of this fund update the target fund mix is 40% Conservative Fund and 60% Growth Fund

Value $990M NZD
Period of data report 31st Dec. 2022
Members 36,922
Fund started 12th June 2009
Total annual fund fees 1.24%
Total performance based fees 0.26%
Manager's basic fee 0.91%
Other management and administration charges 0.07%
Total other charges 20.25
Total other charges currency NZD

Key Personnel

Ashley Gardyne

Currently: Chief Investment Officer (0 years, 3 months)
Previously: Chief Investment Officer and Senior Portfolio Manager, International Equities, Fisher Funds Management Limited (1 years, 3 months)

Mark Brighouse

Currently: Chief Investment Strategist (5 years, 5 months)
Previously: Chief Investment Officer, Fisher Funds Management Limited (5 years, 9 months)

David Mcleish

Currently: Senior Portfolio Manager, Fixed Interest (11 years, 9 months)
Previously: Executive Director, Goldman Sachs International, London (3 years, 0 months)

Sam Dickie

Currently: Senior Portfolio Manager, International Equities and Property & Infrastructure (0 years, 3 months)
Previously: Senior Portfolio Manager, NZ Equities and Property & Infrastructure, Fisher Funds Management Limited (5 years, 7 months)

Robbie Urquhart

Currently: Senior Portfolio Manager, Australian Equities (4 years, 7 months)
Previously: Portfolio Manager / Principal, Trafalgar Copley Limited (11 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.

Investment Exclusions

Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.

Issue of concern Does this fund say it excludes this? Actual holdings
Adult Entertainment /Pornography 0.00%
Alcohol 0.50%
Animal Cruelty 1.24%
Fossil Fuels 2.23%
Gambling 0.00%
GMOs 0.03%
Human Rights & Environmental Violations 1.67%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 0.16%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 30th Sept. 2022 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.

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. Similarly Mindful Money uses a broader scope for fossil fuels than the government’s rules for default KiwiSaver funds. The full definitions used in the Mindful Money analysis are here.

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
2022 0.35% 0.1%
2021 16.60% 19.63%
2020 -1.09% 0.07%
2019 5.56% 7.32%
2018 5.28% 6.73%
2017 5.86% 6.7%
2016 4.01% 3.84%
2015 11.09% 8.47%
2014 7.28% 8.95%
2013 10.75% 9.5%

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 Dec. 2022.

Top 10 Investments

  • ANZ 10 A/C - Current Accounts
    New Zealand Cash and Equivalents
    6.54%
  • Mainfreight Limited
    New Zealand Australasian Equities
    1.66%
  • Proper("Bayfair Shopping Centre - Retail")
    New Zealand Unlisted Property
    1.57%
  • Fisher & Paykel Healthcare Corporation Limited
    New Zealand Australasian Equities
    1.48%
  • Infratil Limited
    New Zealand Australasian Equities
    1.42%
  • Xero Limited
    Australia Australasian Equities
    1.14%
  • Meta Platforms Inc. Class A
    United States International Equities
    1.1%
  • Alphabet Inc. Class A
    United States International Equities
    1.09%
  • Amazon.Com, Inc.
    United States International Equities
    1.06%
  • Government Of New Zealand 2.5% 20-Sep-2035
    New Zealand NZ Fixed Interest AAA
    1.05%
Type Target Actual
Cash and Cash Equivalents 6.4% 5.53%
New Zealand Fixed Interest 17.0% 19.2%
International Fixed Interest 17.0% 15.46%
Australasian Equities 17.2% 17.64%
International Equities 33.0% 32.93%
Listed Properties 0.0% 0.0%
Unlisted Properties 4.7% 4.19%
Other 4.7% 5.05%
Commodities 0.0% 0.0%

Investment Mix

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

Target

Actual

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.