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

    • Contact Energy Limited 0.27%
    • Enel Chile SA 120628 4.875 Cb 0.11%
    • Enel Finance International Nv 250527 3.625 Cb 0.10%
    • Kinder Morgan Inc 150231 2.00 Cb 0.10%
    • A2A Spa 021133 1.00 Cb 0.08%
    • Naturgy Finance Bv 290128 1.50 Cb 0.08%
    • National Grid Gas Finance PLC 220928 2.125 Cb 0.06%
    • Nextera Energy Inc 0.06%
    • Edp Finance Bv 240128 1.71 Cb 0.05%
    • Iberdrola SA 0.05%
    • Enbridge Inc 0.04%
    • Enterprise Products Oper 310130 2.80 Cb 0.04%
    • Iberdrola Finanzas SA 110332 1.375 Cb 0.04%
    • Cheniere Energy Inc 0.03%
    • Korea Gas Corp 120224 3.875 Cb 0.03%
    • Reliance Industries Ltd 301127 3.667 Cb 0.03%
    • Valero Energy Corp 0.03%
    • Vier Gas Transport Gmbh 260932 4.625 Cb 0.03%
    • Williams Companies Inc 0.03%
    • Xcel Energy Inc 011229 2.60 Cb 0.03%
    • BHP Group Limited Ordinary Fully Paid 0.02%
    • Edp Finance Bv 210929 1.875 Cb 0.02%
    • Esb Finance Dac 190734 1.00 Cb 0.02%
    • Neste Oyj 0.02%
    • Oneok Inc 0.02%
    • Parkland Corp 0.02%
    • Pembina Pipeline 0.02%
    • Phillips 66 Com Usd0.01 0.02%
    • Tc Energy Corp 0.02%
    • Duke Energy Corp Com USD 0.001 Post Rev Splt 0.01%
    • Iberdrola Finanzas SA 130927 1.25 Cb 0.01%
    • Keyera Corp Com 0.01%
    • Snam Spa 300631 0.625 Cb 0.01%
    • Southern Co Com USD 0.01%
    • Alimentation Couche Tard Inc 250130 2.95 Cb 0.10%
    • Johnson & Johnson Com US$1 0.11%
    • Nestle Holdings Inc 240948 4.00 Cb 0.11%
    • Thermo Fisher Scientific Inc 0.11%
    • Nestle SA 0.05%
    • BHP Group Limited Ordinary Fully Paid 0.02%
    • Motorola Solutions Inc 0.02%
    • Wells Fargo & Company 0.02%
    • Archer Daniels Midland Co 120925 1.00 Cb 0.01%
    • Caterpillar Inc 0.01%
    • Duke Energy Corp Com USD 0.001 Post Rev Splt 0.01%
    • Johnson and Johnson 150837 5.95 Cb 0.01%
    • Rio Tinto PLC Ord 10P Gbp 0.01%
    • Pepsico Inc Cap US$0.01 2/3 0.14%
    • Kimberly Clark De Mexico Sab De Cv 010731 2.431 Sf 0.11%
    • Nestle Holdings Inc 240948 4.00 Cb 0.11%
    • 3M Co 140948 4.00 Cb 0.09%
    • Essity Ab Publ 300327 1.625 Cb 0.09%
    • Solvay SA 060929 0.5 Cb 0.09%
    • Coca Cola Co 090341 1.00 Cb 0.08%
    • Colgate Palmolive Co 150845 4.00 Cb 0.08%
    • Eastman Chemical Co 260523 1.50 Cb 0.08%
    • Estee Lauder Companies 0.08%
    • Clorox Co 150530 1.80 Cb 0.06%
    • Koninklijke Dsm Nv 0.06%
    • Procter & Gamble Company 0.06%
    • Air Liquide 0.05%
    • L'Oreal 0.05%
    • Nestle SA 0.05%
    • Kimberly Clark Corp 010837 6.625 Cb 0.04%
    • Symrise AG 0.04%
    • Coca Cola Co USD 0.03%
    • Colgate Palmolive Usd1 0.03%
    • Equate Petrochemical Bv 031126 4.25 Cb 0.03%
    • Reliance Industries Ltd 301127 3.667 Cb 0.03%
    • Unilever PLC 0.03%
    • Darling Ingredients Inc 0.02%
    • Eastman Chemical Co 011228 4.50 Cb 0.02%
    • Givaudan Finance Europe Bv 220427 1.00 Cb 0.02%
    • Kerry Group PLC 0.02%
    • Nomad Foods Ltd 0.02%
    • Archer Daniels Midland Co 120925 1.00 Cb 0.01%
    • Canon Inc 0.01%
    • Kering SA 130528 0.75 Cb 0.01%
    • Koninklijke Ahold Delhaize Nv 0.01%
    • Mondelez International Inc 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

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 $710M NZD
Period of data report 31st Dec. 2022
Members 27,867
Fund started 1st Oct. 2007
Total annual fund fees 0.46%
Total performance based fees 0.0%
Manager's basic fee 0.42%
Other management and administration charges 0.04%
Total other charges 26.93
Total other charges currency NZD

Kristen Kohere-Soutar

Currently: Chair - Mercer (N.Z.) Ltd (3 years, 1 months)
Previously: Director - Mercer (N.Z.) Ltd (current) (5 years, 4 months)

Martin Lewington

Currently: CEO - Mercer (N.Z.) Ltd (13 years, 10 months)
Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

Kylie Willment

Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (5 years, 2 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 (0 years, 7 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 (8 years, 9 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 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 0.00%
Animal Cruelty 1.93%
Fossil Fuels 1.70%
Gambling 0.00%
GMOs 0.01%
Human Rights & Environmental Violations 0.59%
Palm Oil 0.00%
Tobacco 0.10%
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 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 -0.92% -0.44%
2021 8.73% 6.78%
2020 1.42% 0.97%
2019 4.58% 3.9%
2018 3.58% 3.83%
2017 4.10% 4.0%
2016 3.52% 3.58%
2015 8.10% 7.68%
2014 3.88% 4.56%
2013 6.92% 5.84%

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

  • ASB Bank Limited Rcd Maturing 24/03/2023
    New Zealand Cash and Equivalents AA-
    2.46%
  • New Zealand Government Bond 3.00% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    1.35%
  • New Zealand Government Bond 1.75% 15/05/2041
    New Zealand NZ Fixed Interest AAA
    1.26%
  • Westpac New Zealand Limited Rcd Maturing 22/03/2023
    New Zealand Cash and Equivalents AA-
    1.13%
  • Bank Of New Zealand Bond 4.261% 03/02/2023
    New Zealand Cash and Equivalents AA-
    1.11%
  • New Zealand Government Bond 0.5% 15/05/2024
    New Zealand NZ Fixed Interest AAA
    1.08%
  • Housing New Zealand Limited Bond 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AAA
    1.07%
  • New Zealand Government Bond 2.75% 15/04/2037
    New Zealand NZ Fixed Interest AAA
    1.05%
  • New Zealand Government Bond 2.75% 15/04/2025
    New Zealand NZ Fixed Interest AAA
    1.03%
  • New Zealand Local Government Treasury Bill 28/02/2023
    New Zealand Cash and Equivalents AAA
    0.95%
Type Target Actual
Cash and Cash Equivalents 30.0% 33.94%
New Zealand Fixed Interest 15.0% 14.91%
International Fixed Interest 35.0% 31.22%
Australasian Equities 5.0% 5.14%
International Equities 15.0% 14.79%
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.

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