Summer Conservative Selection

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.

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31 March 2020 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 and research organisations.

A summary of this fund and its details.

Key Personnel

• Craig Alexander

  Currently: Co-Head of Funds Management,Forsyth Barr Limited (6 years, 9 months)
  Previously: Head of Fixed Interest,Tower Investments (5 years, 2 months)

• Jason Lindsay

  Currently: Co-Head of Funds Management,Forsyth Barr Limited (0 years, 6 months)
  Previously: Portfolio Manager Australasian Listed Infrastructure, ACC (6 years, 2 months)

• Kevin Stirrat

  Currently: Director/Strategy, Wealth Management Research,Forsyth Barr Limited (0 years, 8 months)
  Previously: Head of Investment Strategy, Forsyth Barr Limited (13 years, 11 months)

• Martin Hawes

  Currently: Chair, Summer Investment Committee (3 years, 7 months)
  Previously: Authorised Financial Adviser (current) (8 years, 9 months)

• Neil Paviour-Smith

  Currently: Director (12 years, 1 months)
  Previously: Managing Director at Forsyth Barr Limited (current) (19 years, 3 months)

• Rob Mercer

  Currently: Director/Equities, Wealth Management Research,Forsyth Barr Limited (0 years, 8 months)
  Previously: Head of Private Wealth Research, Forsyth Barr Limited (7 years, 2 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2020 .

Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

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 31 March 2020 .

Showing the top 10 investments for this fund:

• ANZ Transactional Bank Account
  New Zealand Cash and Equivalents AA-
  22.19%
• New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50%
  New Zealand NZ Fixed Interest AA+
  5.09%
• Bank Of New Zealand Subordinated Note 17/12/2025 5.314%
  New Zealand NZ Fixed Interest BBB+
  1.91%
• New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75%
  New Zealand NZ Fixed Interest AA+
  1.81%
• New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50%
  New Zealand NZ Fixed Interest AA+
  1.66%
• Vector Ltd 14/03/2024 4.996%
  New Zealand NZ Fixed Interest BBB
  1.21%
• Housing New Zealand 3.36% 12/06/2025
  New Zealand NZ Fixed Interest AA+
  1.19%
• The A2 Milk Company Limited
  New Zealand Australasian Equities
  1.02%
• Goodman Property Trust
  New Zealand Listed Property N/A
  0.98%
• Housing New Zealand 3.42% 18/10/2028
  New Zealand NZ Fixed Interest AA+
  0.95%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register 31 March 2020 .

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 31 March 2020 .

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a 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:
  0.69%
• Animal Testing:
  0.81%
• Fossil Fuels:
  1.10%
• Gambling:
  0.68%
• GMOs:
  0.25%
• Human Rights & Environmental Violations:
  0.76%
• 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 31 March 2020 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 and research organisations.

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words: "We aim to achieve positive long-term returns by choosing a greater exposure to cash and fixed interest investments and a lesser exposure to equity and property investments. Investors can expect low to moderate levels of movement up and down in value and to receive longer-term returns that are lower than those of Summer Balanced Selection."

Download the fund's disclosure statement and portfolio holdings.

• Portfolio holdings v