Funds

This is a Mindful fund Mercer KiwiSaver Responsible Conservative Fund

Total Ethical Concerns: 2.79%

The average total concerns of all KiwiSaver conservative funds is 3.58%.

Companies of Concern

  • Animal Cruelty 0.73%

    • Air Liquide
      0.12%
      0.12%
    • Ecolab, Inc.
      0.11%
      0.11%
    • 0.08%
    • Unilever PLC
      0.06%
      0.06%
    • 3M
      0.02%
      0.02%
    • Dupont De Nemours
      0.02%
      0.02%
    • Symrise AG
      0.02%
      0.02%
    • The Sherwin-Williams Co.
      0.02%
      0.02%
    • Arkema SA
      0.01%
      0.01%
    • Colgate-Palmolive Co.
      0.01%
      0.01%
    • Hermès International Sca
      0.01%
      0.01%
    • International Flavors & Fragrances, Inc.
      0.01%
      0.01%
    • Jab Holding Company
      0.01%
      0.01%
    • Kering SA
      0.01%
      0.01%
    • Kimberly-Clark Corp.
      0.01%
      0.01%
    • Koninklijke Ahold Delhaize Nv
      0.01%
      0.01%
    • L'Oréal SA
      0.01%
      0.01%
    • Nomad Foods Ltd
      0.01%
      0.01%
  • Human Rights Violations 0.86%

    • 0.23%
    • Wells Fargo
      0.11%
      0.11%
    • 0.08%
    • UBS
      0.08%
      0.08%
    • General Motors
      0.06%
      0.06%
    • Nestlé
      0.06%
      0.06%
    • Caterpillar
      0.02%
      0.02%
    • Holcim
      0.02%
      0.02%
    • 0.02%
    • Rio Tinto
      0.01%
      0.01%
  • Fossil Fuels 0.92%

    • Contact Energy Ltd.
      0.29%
      1.5°C
      This company is on a 1.5°C pathway
      0.29%
    • 0.05%
    • Nextera Energy, Inc.
      0.05%
      0.05%
    • Channel Infrastructure
      0.03%
      0.03%
    • National Grid PLC
      0.03%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.03%
    • The Williams Cos., Inc.
      0.03%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.03%
    • Cheniere Energy, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Enbridge, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Keyera Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Kinder Morgan, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Oneok, Inc.
      0.02%
      0.02%
    • Pembina Pipeline Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Targa Resources Corp.
      0.02%
      0.02%
    • The Southern Co.
      0.02%
      0.02%
    • BHP
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Consolidated Edison, Inc.
      0.01%
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%
    • Eneos Holdings, Inc.
      0.01%
      0.01%
    • Marathon Petroleum Corp.
      0.01%
      0.01%
    • Phillips 66
      0.01%
      0.01%
    • Rio Tinto
      0.01%
      0.01%
    • Tc Energy Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Valero Energy Corp.
      0.01%
      0.01%
  • Weapons 0.06%

    • Amphenol Corp.
      0.03%
      0.03%
    • Howmet Aerospace, Inc.
      0.02%
      0.02%
  • Environmental Harm 0.39%

    • Coca-Cola
      0.09%
      0.09%
    • PepsiCo
      0.06%
      0.06%
    • Unilever PLC
      0.06%
      0.06%
    • 3M
      0.02%
      0.02%
    • 0.02%
    • Danone
      0.02%
      0.02%
    • Fonterra
      0.02%
      0.02%
    • Mondelez
      0.02%
      0.02%
    • BHP
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    About this Fund

    Invests mostly in defensive assets such as fixed interest, with only limited investment in growth assets such as shares. May be suitable for investors who want to achieve slightly higher returns than those expected from investing solely in the Cash fund. Investors need to be comfortable with the possibility of some fluctuations in returns. This fund is managed with reference to environmental, social and governance (ESG) factors and is certified by the Responsible Investment Association of Australasia.

    Mercer is one of the world’s leading firms for superannuation, investments and workforce consulting, with over 25,000 colleagues worldwide helping build brighter futures for our customers and clients. Mercer has been helping Kiwis save for their best possible retirement for over 60 years. Our team of investment experts search the globe to find some of the best and most diverse investments to help maximise KiwiSaver returns and we invest responsibly.

    Value $772M NZD
    Period of data report 31st March 2025
    Members 23,322
    Fund started 1st Oct. 2007
    Total annual fund fees 0.48%
    Total performance based fees 0.0%
    Manager's basic fee 0.42%
    Other management and administration charges 0.06%
    Total other charges 0.0
    Total other charges currency NZD

    Ross Butler

    Currently: Chair - Mercer (N.Z.) Ltd (1 years, 11 months)
    Previously: Director Investments (Australia) Limited (current) (10 years, 4 months)

    Martin Lewington

    Currently: CEO - Mercer (N.Z.) Ltd (16 years, 1 months)
    Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

    Kylie Willment

    Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (7 years, 5 months)
    Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)

    Padraig Brown

    Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (2 years, 10 months)
    Previously: Head of Real Estate Investment Management, Mercer Australia (Pty) Ltd (11 years, 2 months)

    Robert Kavanagh

    Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (11 years, 0 months)
    Previously: Vice President - Account Management PIMCO Australia Pty Limited (7 years, 0 months)

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    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
    2025 3.91% 3.57%
    2024 6.48% 5.89%
    2023 -1.85% -1.67%
    2022 -0.74% -0.44%
    2021 8.94% 6.78%
    2020 0.61% 0.97%
    2019 4.19% 3.9%
    2018 3.58% 3.83%
    2017 4.10% 4.0%
    2016 3.52% 3.58%

    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 March 2025.

  • Investments

    Top 10 Investments

    • Ishares Mortgage Backed Bond ETF

      United States Int Fixed Interest

      4.49%
    • Housing New Zealand Limited Bond 3.36% 12/06/2025

      New Zealand Cash and Equivalents AA-

      3.04%
    • New Zealand Government Bond 3.50% 14/04/2033

      New Zealand Int Fixed Interest AAA

      2.11%
    • New Zealand Government Bond 4.50% 15/05/2031

      New Zealand NZ Fixed Interest AAA

      2.08%
    • New Zealand Government Bond 1.50% 15/05/2031

      New Zealand NZ Fixed Interest AAA

      2.0%
    • New Zealand Government Bond 2.75% 15/04/2037

      New Zealand NZ Fixed Interest AAA

      1.93%
    • New Zealand Government Bond 1.75% 15/05/2041

      New Zealand NZ Fixed Interest AAA

      1.84%
    • New Zealand Government Bond 2.00% 15/05/2032

      New Zealand NZ Fixed Interest AAA

      1.84%
    • New Zealand Local Government Funding Agency Bond 2.75% 15/04/2025

      New Zealand Cash and Equivalents AAA

      1.76%
    • New Zealand Government Bond 4.25% 15/05/2036

      New Zealand NZ Fixed Interest AAA

      1.74%
    Type Target Actual
    Cash and Cash Equivalents 20.0% 18.8%
    New Zealand Fixed Interest 25.0% 27.17%
    International Fixed Interest 35.0% 34.95%
    Australasian Equities 5.0% 4.9%
    International Equities 15.0% 14.18%
    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 by asset type.

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31st March 2025 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.

Issues of Concern

  • 0.73% Animal Cruelty
  • 0.86% Human Rights Violations
  • 0.01% Social Harm
  • 0.92% Fossil Fuels
  • 0.06% Weapons
  • 0.39% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • Air Liquide
      0.12%
      0.12%
    • Ecolab, Inc.
      0.11%
      0.11%
    • 0.08%
    • Unilever PLC
      0.06%
      0.06%
    • 3M
      0.02%
      0.02%
    • Dupont De Nemours
      0.02%
      0.02%
    • Symrise AG
      0.02%
      0.02%
    • The Sherwin-Williams Co.
      0.02%
      0.02%
    • Arkema SA
      0.01%
      0.01%
    • Colgate-Palmolive Co.
      0.01%
      0.01%
    • Hermès International Sca
      0.01%
      0.01%
    • International Flavors & Fragrances, Inc.
      0.01%
      0.01%
    • Jab Holding Company
      0.01%
      0.01%
    • Kering SA
      0.01%
      0.01%
    • Kimberly-Clark Corp.
      0.01%
      0.01%
    • Koninklijke Ahold Delhaize Nv
      0.01%
      0.01%
    • L'Oréal SA
      0.01%
      0.01%
    • Nomad Foods Ltd
      0.01%
      0.01%
  • Human Rights Violations

    • 0.23%
    • Wells Fargo
      0.11%
      0.11%
    • 0.08%
    • UBS
      0.08%
      0.08%
    • General Motors
      0.06%
      0.06%
    • Nestlé
      0.06%
      0.06%
    • Caterpillar
      0.02%
      0.02%
    • Holcim
      0.02%
      0.02%
    • 0.02%
    • Rio Tinto
      0.01%
      0.01%
  • Fossil Fuels

    • Contact Energy Ltd.
      0.29%
      1.5°C
      This company is on a 1.5°C pathway
      0.29%
    • 0.05%
    • Nextera Energy, Inc.
      0.05%
      0.05%
    • Channel Infrastructure
      0.03%
      0.03%
    • National Grid PLC
      0.03%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.03%
    • The Williams Cos., Inc.
      0.03%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.03%
    • Cheniere Energy, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Enbridge, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Keyera Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Kinder Morgan, Inc.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Oneok, Inc.
      0.02%
      0.02%
    • Pembina Pipeline Corp.
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Targa Resources Corp.
      0.02%
      0.02%
    • The Southern Co.
      0.02%
      0.02%
    • BHP
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Consolidated Edison, Inc.
      0.01%
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%
    • Eneos Holdings, Inc.
      0.01%
      0.01%
    • Marathon Petroleum Corp.
      0.01%
      0.01%
    • Phillips 66
      0.01%
      0.01%
    • Rio Tinto
      0.01%
      0.01%
    • Tc Energy Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Valero Energy Corp.
      0.01%
      0.01%
  • Weapons

    • Amphenol Corp.
      0.03%
      0.03%
    • Howmet Aerospace, Inc.
      0.02%
      0.02%
  • Environmental Harm

    • Coca-Cola
      0.09%
      0.09%
    • PepsiCo
      0.06%
      0.06%
    • Unilever PLC
      0.06%
      0.06%
    • 3M
      0.02%
      0.02%
    • 0.02%
    • Danone
      0.02%
      0.02%
    • Fonterra
      0.02%
      0.02%
    • Mondelez
      0.02%
      0.02%
    • BHP
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%

About this Fund

Invests mostly in defensive assets such as fixed interest, with only limited investment in growth assets such as shares. May be suitable for investors who want to achieve slightly higher returns than those expected from investing solely in the Cash fund. Investors need to be comfortable with the possibility of some fluctuations in returns. This fund is managed with reference to environmental, social and governance (ESG) factors and is certified by the Responsible Investment Association of Australasia.

Mercer is one of the world’s leading firms for superannuation, investments and workforce consulting, with over 25,000 colleagues worldwide helping build brighter futures for our customers and clients. Mercer has been helping Kiwis save for their best possible retirement for over 60 years. Our team of investment experts search the globe to find some of the best and most diverse investments to help maximise KiwiSaver returns and we invest responsibly.

Value $772M NZD
Period of data report 31st March 2025
Members 23,322
Fund started 1st Oct. 2007
Total annual fund fees 0.48%
Total performance based fees 0.0%
Manager's basic fee 0.42%
Other management and administration charges 0.06%
Total other charges 0.0
Total other charges currency NZD

Ross Butler

Currently: Chair - Mercer (N.Z.) Ltd (1 years, 11 months)
Previously: Director Investments (Australia) Limited (current) (10 years, 4 months)

Martin Lewington

Currently: CEO - Mercer (N.Z.) Ltd (16 years, 1 months)
Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

Kylie Willment

Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (7 years, 5 months)
Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)

Padraig Brown

Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (2 years, 10 months)
Previously: Head of Real Estate Investment Management, Mercer Australia (Pty) Ltd (11 years, 2 months)

Robert Kavanagh

Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (11 years, 0 months)
Previously: Vice President - Account Management PIMCO Australia Pty Limited (7 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

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
2025 3.91% 3.57%
2024 6.48% 5.89%
2023 -1.85% -1.67%
2022 -0.74% -0.44%
2021 8.94% 6.78%
2020 0.61% 0.97%
2019 4.19% 3.9%
2018 3.58% 3.83%
2017 4.10% 4.0%
2016 3.52% 3.58%

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 March 2025.

Top 10 Investments

  • Ishares Mortgage Backed Bond ETF

    United States Int Fixed Interest

    4.49%
  • Housing New Zealand Limited Bond 3.36% 12/06/2025

    New Zealand Cash and Equivalents AA-

    3.04%
  • New Zealand Government Bond 3.50% 14/04/2033

    New Zealand Int Fixed Interest AAA

    2.11%
  • New Zealand Government Bond 4.50% 15/05/2031

    New Zealand NZ Fixed Interest AAA

    2.08%
  • New Zealand Government Bond 1.50% 15/05/2031

    New Zealand NZ Fixed Interest AAA

    2.0%
  • New Zealand Government Bond 2.75% 15/04/2037

    New Zealand NZ Fixed Interest AAA

    1.93%
  • New Zealand Government Bond 1.75% 15/05/2041

    New Zealand NZ Fixed Interest AAA

    1.84%
  • New Zealand Government Bond 2.00% 15/05/2032

    New Zealand NZ Fixed Interest AAA

    1.84%
  • New Zealand Local Government Funding Agency Bond 2.75% 15/04/2025

    New Zealand Cash and Equivalents AAA

    1.76%
  • New Zealand Government Bond 4.25% 15/05/2036

    New Zealand NZ Fixed Interest AAA

    1.74%
Type Target Actual
Cash and Cash Equivalents 20.0% 18.8%
New Zealand Fixed Interest 25.0% 27.17%
International Fixed Interest 35.0% 34.95%
Australasian Equities 5.0% 4.9%
International Equities 15.0% 14.18%
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 by asset type.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.