Funds
AMP Defensive Conservative Fund
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:
- Human Rights Violations
- Environmental Harm
- Animal Cruelty
- Weapons
- Fossil Fuels
- Social Harm
Companies of concern
Human Rights Violations
-
Meta Platforms Inc-Class A 0.11%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
META PLATFORMS INC-CLASS A Public Safety
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
-
Johnson & Johnson 0.08%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
JOHNSON & JOHNSON Public Safety
Johnson & Johnson is the world's largest and most diverse healthcare firm. The company has been involved in repeated incidents related to the quality and safety of several of its products across all three of the company’s business segments — drugs, devices, and consumer products. Several products have been associated with allegations of severe or even fatal adverse impacts on patients.
-
Rio Tinto Ltd 0.04%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
-
Motorola Solutions Inc 0.02%
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
MOTOROLA SOLUTIONS INC War & Conflict
Motorola is an American provider of communication products, video equipment, telecommunications equipment, software, systems, and services. Motorola Solutions and its subsidiary, Motorola Israel, have been accused of complicity in human rights violations due to its sale of communication products to the Israeli Ministry of Defence in the occupied Palestinian territories. Israeli settlements in occupied Palestinian territories are deemed illegal under international law and the United Nations Human Rights Council Report 2023 has identified Motorola as a company providing services supporting the maintenance and existence of these settlements. As of 2023, Motorola is the sole supplier of the 4G cellular network for the Israeli Military and provides their surveillance and security system, which research shows is being used for border surveillance in the occupied Palestinian territories.
-
Thermo Fisher Scientific Inc 0.02%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
THERMO FISHER SCIENTIFIC INC Human Rights Abuses
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
-
Uber Technologies Inc 0.02%
Labour Rights Violations
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
UBER TECHNOLOGIES INC Labour Rights Violations
Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
-
Meta Platforms Inc-Class A 0.11%
Environmental Harm
-
Nutrien Ltd 0.03%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Newcrest Mining Ltd 0.02%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
-
Nutrien Ltd 0.03%
Animal Cruelty
-
Ecolab Inc 0.04%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Kimberly-Clark Corp 0.03%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
LVMH Moet Hennessy Louis Vui 0.03%
Animal Welfare Issues
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
-
Nutrien Ltd 0.03%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Church & Dwight Co Inc 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Dupont De Nemours Inc 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Givaudan-Reg 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
L'Oreal 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'OREAL Animal Testing
L'Oréal is a personal care company and cosmetics company concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
-
PPG Industries Inc 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Sherwin-Williams Co/The 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Intl Flavors & Fragrances 0.01%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Shin-Etsu Chemical Co Ltd 0.01%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Ecolab Inc 0.04%
Weapons
-
Walmart Inc 0.03%
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
WALMART INC Firearms
Walmart is the USA’s largest retailer by sales, selling a variety of general merchandise and grocery items. Walmart retails shotguns, pistols and ammunition at some of its stores in the USA, as well as components for firearms such as scopes. Walmart are currently working to improve their weapon-realted controls.
-
Walmart Inc 0.03%
Fossil Fuels
-
Contact Energy Ltd 0.17%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
CONTACT ENERGY LTD Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Rio Tinto Ltd 0.04%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
-
Enel Spa 0.03%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
ENEL SPA Fossil Fuel Power Generation
Enel is Europe’s largest electric utilities company by market capitalisation and holds a 70.1% stake in the energy company, Endesa. Evidence shows that energy generated from fossil fuels accounts for 15% of the company’s revenues. However, the company have announced plans to abandon coal by 2027 and gas by 2040, while investing significantly in expanding their renewable energy capacity. By 2030, the company expects to have invested a total of EUR €70 billion in renewable energy. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Clearway Energy Op Llc 0.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Kinetik Holdings Lp 0.01%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Orsted A/S 0.01%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
ORSTED A/S Fossil Fuel Production
Ørsted is a Danish power company and Europe’s largest producer of electricity from offshore wind power. The company was previously named Danish Oil and Natural Gas but has now transitioned to generate 91% of its power from renewable sources. The company had previously set a target of ending coal generation by 2023, however, the Danish government recently required the company to extend the operation of its two remaining coal plants to June 2024, along with one oil plant. Ørsted still stands by an overall target of net-zero emissions by 2040 with an interim goal of generating 100% renewable electricity by 2025. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Contact Energy Ltd 0.17%
1.5°C
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. 2023 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
The fund has a diversified portfolio that primarily invests in lower-risk income assets with a conservative allocation to growth assets. The fund aims to preserve the value of your investments and achieve modest returns, in exchange there may be small movements up and down in the value of your investments. This fund is closed to new investors.
| Value | $425M NZD |
| Period of data report | 31st Dec. 2023 |
| Members | 12,873 |
| Fund started | 1st Oct. 2007 |
| Total annual fund fees | 0.44% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.35% |
| Other management and administration charges | 0.09% |
| Total other charges | 23.4 |
| Total other charges currency | NZD |
Key Personnel
|
Jeffery Darren Ruscoe |
Currently: Investment Committee
Member (4 years, 9 months) |
|
Mark David Ennis |
Currently: Investment Committee
Member (3 years, 5 months) |
|
Katie Priscilla Breatnach |
Currently: Investment Committee
Member (0 years, 10 months) |
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2023.
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 |
|---|---|---|
| 2023 | -1.85% | -1.88% |
| 2022 | -0.58% | -1.58% |
| 2021 | 8.94% | 6.87% |
| 2020 | 0.45% | 0.6% |
| 2019 | 4.19% | 3.87% |
| 2018 | 3.58% | 3.15% |
| 2017 | 4.10% | 4.21% |
| 2016 | 3.52% | 2.35% |
| 2015 | 8.10% | 6.73% |
| 2014 | 3.88% | 3.93% |
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. 2023.
Top 10 Investments
-
New Zealand Government Bond - Maturing 15 Apr 2027
New Zealand NZ Fixed Interest AAA2.45% -
New Zealand Government Bond - Maturing 20 Apr 2029
New Zealand NZ Fixed Interest AAA2.28% -
New Zealand Government Bond - Maturing 15 Apr 2025
New Zealand NZ Fixed Interest AAA2.2% -
New Zealand Government Bond - Maturing 14 Apr 2033
New Zealand NZ Fixed Interest AAA2.18% -
New Zealand Government Inflation Linked Bond - Maturing 20 Sep 2035
New Zealand NZ Fixed Interest AAA2.17% -
New Zealand Government Bond - Maturing 15 May 2024
New Zealand NZ Fixed Interest AAA2.04% -
New Zealand Government Bond - Maturing 15 May 2031
New Zealand NZ Fixed Interest AAA1.6% -
Westpac New Zealand - Maturing 6 Mar 2024
New Zealand Cash and Equivalents P-11.54% -
New Zealand Government Inflation Linked Bond - Maturing 20 Sep 2030
New Zealand NZ Fixed Interest AAA1.47% -
New Zealand Government Inflation Linked Bond - Maturing 20 Sep 2040
New Zealand NZ Fixed Interest AAA1.37%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 21.0% | 19.69% |
| New Zealand Fixed Interest | 35.0% | 35.56% |
| International Fixed Interest | 26.5% | 27.02% |
| Australasian Equities | 4.5% | 4.66% |
| International Equities | 13.0% | 13.07% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| 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. 2023.