MAS Conservative Fund

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Mindful Fund

Fund type: Conservative fund

Past Returns: 4.41%

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

Annual Fees: 1.2%

Annual fees, including management and administration fees, but not membership fee.

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.


Fossil Fuel

Atlantia Spa 120228 1.875 Cb 0.04%
Coca-Cola 0.08%
Enbridge Inc 180222 Frn 0.06%
Energy Transfer Partners Lp 150325 4.05 Cb 0.08%
Itochu Corp 0.01%

Weapons

Human Rights & Environmental Violations

Energy Transfer Partners Lp 150325 4.05 Cb 0.08%
Motorola Solutions Inc 0.01%

Animal Testing

Bayer US Finance Ii Llc 151225 4.25 Cb 0.03%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.03%
Coca-Cola 0.08%
Danone SA 0.02%
Danone SA 021121 2.077 Cb 0.07%
Dupont De Nemours Inc 0.01%
Ecolab Inc 0.02%
Fujifilm Holdings Corp 0.01%
General Mills Inc 0.01%
Givaudan SA 0.02%
Hp Inc 0.01%
International Flavors & Fragrances 0.01%
Kao Corp 0.01%
Kimberly Clark Corp 0.02%
Koninkilijke Dsm Nv 0.01%
Lair Liquide Societe Anonyme Pour 0.03%
Linde PLC 0.06%
Loreal SA 0.04%
PPG Industries Inc 0.01%
Pepsico Inc 0.08%
Procter & Gamble 0.13%
Reckitt Benckiser Group PLC 0.02%
Reckitt Benckiser Treasury Services PLC 240622 Frn 0.03%
Shiseido Ltd 0.01%
Swpc0Gvu2 Ccp Sell Cds EUR 200625 Tesco PLC 1% Ms 0.06%
Tesco Property Finance PLC 130440 5.744 Sf 0.06%
Unilever PLC 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 Thu Sept. 30th 2021 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.

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.

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
2021 8.80% 9.13%
2020 0.59% 0.84%
2019 4.26% 3.27%
2018 3.73% 3.62%
2017 4.10% 4.6%
2016 3.52% 1.81%
2015 8.10% 9.03%
2014 3.88% 3.68%
2013 6.92% 7.22%
2012 3.16% 2.11%

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 Fri Dec. 31st 2021.

Showing the top 10 investments for this fund:

  • Hunter Global Fixed Interest Fund
    New Zealand Int Fixed Interest
    51.09%
  • Jbwere Premium Custody Call Account - NZD
    New Zealand Cash and Equivalents
    4.64%
  • NZ Govt 1.5% 15/05/2031
    New Zealand NZ Fixed Interest AAA
    4.62%
  • Vector Ltd 4.996% 14/03/24
    New Zealand NZ Fixed Interest BBB
    1.72%
  • Chorus Ltd 4.35% 06/12/2028 "23
    New Zealand NZ Fixed Interest BBB
    1.63%
  • Iag 5.15% 15/06/2043
    New Zealand NZ Fixed Interest BBB
    1.4%
  • Westpac On Term @ 1.42% 13/07/22
    New Zealand Cash and Equivalents A-1+
    1.37%
  • Bank Of China (NZ) Ltd 4.09% 17/10/2022
    New Zealand NZ Fixed Interest A
    0.99%
  • Microsoft Corp
    United States International Equities
    0.92%
  • NZ Local Govt Funding Agcy 1.5% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    0.86%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Fri Dec. 31st 2021.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 10.0% 12.25%
New Zealand Fixed Interest 25.0% 16.3%
International Fixed Interest 45.0% 51.08%
Australasian Equities 6.0% 6.12%
International Equities 14.0% 14.25%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 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 Fri Dec. 31st 2021.

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).

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
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.00%
  • Animal Testing:
    1.10%
  • Fossil Fuels:
    0.30%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.12%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.02%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Thu Sept. 30th 2021 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 the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or their policy may be less stringent than the definitions applied by Mindful Money.

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.

In their own words

"The Conservative Fund invests mainly in income assets with a modest allocation to growth assets. The Fund aims to preserve capital while providing a steady return over the short to medium term. It is suitable for investors who want to take a more cautious approach and accept a smaller amount of investment risk to potentially achieve a more stable return."

Value $74M NZD
Period of data report Fri Dec. 31st 2021
Members 2,036
Fund started Mon Oct. 1st 2007
Total annual fund fees 1.2%
Total performance based fees 0.0%
Manager's basic fee 1.0%
Other management and administration charges 0.2%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Bruce Robertson

Currently: Portfolio manager JBWere (24 years, 9 months)
Previously: Partner Goldman Sachs JBWere (7 years, 1 months)

Tom Phillips

Currently: Portfolio manager JBWere (17 years, 4 months)
Previously: Corporate lawyer Bell Gully (7 years, 8 months)

Earl White

Currently: Executive Advisor Bancorp Treasury (18 years, 11 months)
Previously: Treasurer BNP Paribas (8 years, 7 months)

Phil Borkin

Currently: Senior Strategist JBWere (3 years, 0 months)
Previously: Senior Macro Strategist ANZ (4 years, 0 months)

Hayden Griffiths

Currently: Head of Asset allocation JBWere (25 years, 8 months)
Previously: Analyst BZW (2 years, 5 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Fri Dec. 31st 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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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.