Funds

Summer Balanced Selection

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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

    • BHP Group Limited 1.16%
    • Contact Energy Limited Rcd 07/11/2022 0.87%
    • Contact Energy Limited 0.67%
    • Santos Limited 0.36%
    • Genesis Energy Limited 5.0% 03/04/2025 0.34%
    • Contact Energy Limited Capital Bonds 19/11/2051 4.33% 0.28%
    • Viva Energy Group Limited 0.19%
    • Channel Infrastructure 5.8% 20/05/2027 0.17%
    • South32 Limited 0.15%
    • Channel Infrastructure NZ Limited 0.08%
    • Genesis Energy Limited 0.08%
    • Apa Group Limited 0.07%
    • Ck Hutchison Holdings Ltd 0.07%
    • National Grid PLC 0.07%
    • Totalenergies Se 0.07%
    • Endesa SA 0.06%
    • Samsung C&T Corp 0.06%
    • Shell PLC 0.06%
    • Centrica PLC 0.04%
    • Exxon Mobil Corp 0.04%
    • Karoon Energy Ltd 0.04%
    • Consolidated Edison Inc 0.03%
    • Enel Spa 0.03%
    • Lg Corp 0.03%
    • Southern Co/The 0.03%
    • Duke Energy Corp 0.02%
    • Kansai Electric Power Co Inc 0.02%
    • Lg Corp-Pref 0.02%
    • Osaka Gas Co Ltd 0.02%
    • Entergy Corp 0.01%

  • Weapons

    • Walmart Inc 0.06%

  • Gambling

    • Skycity Entertainment Group Limited 0.56%
    • Aristocrat Leisure Limited 0.15%
    • The Star Entertainment Group Limited 0.08%
    • Skycity Entertainment Group Ltd 21/05/2027 3.02% 0.07%

  • Alcohol

    • Heineken Nv 0.22%
    • Endeavour Group Ltd 0.10%
    • Treasury Wine Estates Limited 0.07%
    • Delegat Group Limited 0.05%
    • Asahi Group Holdings Ltd 0.03%
    • Heineken Holding Nv 0.03%

  • Human Rights & Environmental Violations

    • BHP Group Limited 1.16%
    • Rio Tinto Limited 0.38%
    • Nestle SA-Reg 0.31%
    • Uber Technologies Inc 0.13%
    • Johnson & Johnson 0.06%
    • Motorola Solutions Inc 0.06%
    • Rio Tinto PLC 0.06%
    • Shell PLC 0.06%
    • Activision Blizzard Inc 0.04%
    • Credit Suisse Group AG Sr Unsec 144A 0.03%
    • Credit Suisse Group AG Srunsec 144A Sofr 0.03%
    • Credit Suisse New York Sr Unsec 0.03%
    • Credit Suisse Group AG Coco Jr Sub 144A 0.02%
    • Credit Suisse Group AG Sr Unsec 0.02%
    • Duke Energy Corp 0.02%
    • Wells Fargo & Company Sr Unsec Sofr 0.02%
    • Wells Fargo & Company **Full Call** 0.01%
    • Wells Fargo & Company Sofr 0.01%

  • Animal Cruelty

    • Nestle SA-Reg 0.31%
    • LVMH Moet Hennessy Louis Vui 0.14%
    • Kerry Group PLC-A 0.13%
    • Unilever PLC 0.09%
    • Henkel AG & Co Kgaa Vor-Pref 0.07%
    • Procter & Gamble Co/The 0.07%
    • Koninklijke Ahold Delhaize N 0.06%
    • Shell PLC 0.06%
    • Meiji Holdings Co Ltd 0.05%
    • Exxon Mobil Corp 0.04%
    • Tosoh Corp 0.04%
    • Asahi Group Holdings Ltd 0.03%
    • Colgate-Palmolive Co 0.03%
    • Air Water Inc 0.02%
    • Kering SA 0.02%
    • Pepsico Inc 0.02%
    • Tate & Lyle PLC 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

We aim to achieve positive longer-term returns by choosing a balanced mix of cash, fixed interest, equity and property investments. Investors can expect moderate to high levels of movement up and down in value and to receive longer-term returns that are higher than those of the Summer Conservative Selection (but with more risk), and lower than those of the Summer Growth Selection (but with less risk).

Value $120M NZD
Period of data report 31st Dec. 2022
Members 2,423
Fund started 19th Sept. 2016
Total annual fund fees 0.9%
Total performance based fees 0.0%
Manager's basic fee 0.86%
Other management and administration charges 0.04%
Total other charges 36.0
Total other charges currency NZD

Key Personnel

Paul Robertshawe

Currently: Chief Investment Officer, Octagon Asset Management Limited (1 years, 1 months)
Previously: Portfolio Manager, Forsyth Barr Limited (0 years, 8 months)

Craig Alexander

Currently: Head of Fixed Interest and ESG, Octagon Asset Management Limited (1 years, 1 months)
Previously: Co-Head of Funds Management, Forsyth Barr Limited (8 years, 5 months)

Jason Lindsay

Currently: Head of Equities, Octagon Asset Management Limited (1 years, 1 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, 10 months)
Previously: Managing Director at Forsyth Barr Investment Management Limited (current) (22 years, 0 months)

Christine Smith-Han

Currently: Equity and Strategy Analyst, Octagon Asset Management Limited (1 years, 1 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 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 1.20%
Fossil Fuels 5.14%
Gambling 0.86%
GMOs 0.00%
Human Rights & Environmental Violations 2.45%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 0.06%

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% -0.09%
2021 16.60% 16.79%
2020 -1.09% -0.55%
2019 5.56% 7.19%
2018 5.28% 6.35%

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

  • Intermede Global Equity Fund
    Ireland International Equities
    8.59%
  • US Treasury Bill 0.00% 02/03/2023
    United States Int Fixed Interest A1+
    2.65%
  • ANZ Transactional Bank Account
    New Zealand Cash and Equivalents AA-
    2.52%
  • New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50%
    New Zealand NZ Fixed Interest AA+
    1.65%
  • NZ Govt Inflation Ind Bond 20/09/25
    New Zealand NZ Fixed Interest AA+
    1.58%
  • Vector Ltd 14/03/2024 4.996%
    New Zealand NZ Fixed Interest BBB
    1.45%
  • Westpac New Zealand 1.439% 24/02/2026
    New Zealand NZ Fixed Interest AA-
    1.25%
  • New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50%
    New Zealand NZ Fixed Interest AA+
    1.24%
  • BHP Group Limited
    Australia Australasian Equities
    1.24%
  • CSL Limited
    Australia Australasian Equities
    1.15%
Type Target Actual
Cash and Cash Equivalents 10.0% 8.93%
New Zealand Fixed Interest 22.0% 24.41%
International Fixed Interest 13.0% 15.87%
Australasian Equities 25.0% 23.8%
International Equities 25.0% 22.0%
Listed Properties 5.0% 4.99%
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. 2022.