Summer New Zealand Fixed Interest

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Fund type: Defensive fund

Past Returns: 0.03%

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

Annual Fees: 0.75%

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.


Gambling

Skycity Entertainment Group Ltd 21/05/2027 3.02% 0.24%

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 March 31st 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.

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
2022 -1.63% -3.93%
2021 1.50% 2.48%
2020 1.63% 1.55%
2019 2.29% 3.57%
2018 2.05% 3.2%

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 Thu March 31st 2022.

Showing the top 10 investments for this fund:

  • Housing New Zealand 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AA+
    6.13%
  • NZ Govt Inflation Ind Bond 20/09/25
    New Zealand NZ Fixed Interest AA+
    5.77%
  • ANZ Transactional Bank Account
    New Zealand Cash and Equivalents AA-
    5.68%
  • New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50%
    New Zealand NZ Fixed Interest AA+
    5.61%
  • New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50%
    New Zealand NZ Fixed Interest AA+
    4.13%
  • Westpac New Zealand 1.439% 24/02/2026
    New Zealand NZ Fixed Interest AA-
    3.85%
  • New Zealand Local Government Funding Agency Ltd 15/04/2024 2.25%
    New Zealand NZ Fixed Interest AA+
    3.18%
  • New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75%
    New Zealand NZ Fixed Interest AA+
    3.16%
  • Housing New Zealand 3.42% 18/10/2028
    New Zealand NZ Fixed Interest AA+
    2.34%
  • Vector Ltd 14/03/2024 4.996%
    New Zealand NZ Fixed Interest BBB
    1.96%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 5.0% 5.68%
New Zealand Fixed Interest 95.0% 94.32%
International Fixed Interest 0.0% 0.0%
Australasian Equities 0.0% 0.0%
International Equities 0.0% 0.0%
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 Thu March 31st 2022.

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:
    0.00%
  • Fossil Fuels:
    0.00%
  • Gambling:
    0.24%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.00%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.00%

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 March 31st 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 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 fund invests in selected New Zealand fixed interest assets. We aim to achieve positive long-term returns. These kinds of investments will typically have low to moderate levels of movement up and down in value."

Value $5.6M NZD
Period of data report Thu March 31st 2022
Members 378
Fund started Mon Sept. 19th 2016
Total annual fund fees 0.75%
Total performance based fees 0.0%
Manager's basic fee 0.75%
Other management and administration charges 0.0%
Total other charges 36.0
Total other charges currency NZD

Key Personnel

Paul Robertshawe

Currently: Chief Investment Officer, Octagon Asset Management Limited (0 years, 4 months)
Previously: Portfolio Manager, Forsyth Barr Limited (0 years, 8 months)

Craig Alexander

Currently: Head of Fixed Interest and ESG, Octagon Asset Management Limited (0 years, 4 months)
Previously: Co-Head of Funds Management, Forsyth Barr Limited (8 years, 5 months)

Jason Lindsay

Currently: Head of Equities, Octagon Asset Management Limited (0 years, 4 months)
Previously: Co-Head of Funds Management, Forsyth Barr Limited (2 years, 2 months)

Neil Paviour-Smith

Currently: Director, Forsyth Barr Investment Management Limited (14 years, 1 months)
Previously: Managing Director at Forsyth Barr Investment Management Limited (current) (21 years, 3 months)

Christine Smith-Han

Currently: Equity and Strategy Analyst, Octagon Asset Management Limited (0 years, 4 months)
Previously: Portfolio Analyst, Forsyth Barr Limited (4 years, 10 months)

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

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.