Mercer Sustainable Plus Moderate Fund

Mindful Fund

Fund type: Balanced fund

Past Returns: 4.97%

Average annual returns over the past 3 years, after fees and taxes. * indicates less than 3 years of data.

Annual Fees: 0.73%

Annual fees, including management and administration fees, but not membership fee.

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.

Fossil Fuel

Apt Pipelines Ltd 150336 2.50 Cb 0.02%
Apt Pipelines Ltd 150727 4.25 Cb 0.05%
Atlantia Spa 0.02%
Atmos Energy Corp 0.06%
Cheniere Energy Inc 0.03%
Coca Cola Co 090341 1.00 Cb 0.05%
Coca Cola Co USD 0.05%
Dominion Energy Inc 0.08%
Enbridge Inc 0.06%
Enterprise Products Partners Lp 0.03%
Kinder Morgan Inc 150231 2.00 Cb 0.06%
Koninklijke Vopak Nv 0.02%
Korea Gas Corp 120224 3.875 Cb 0.01%
Naturgy Finance Bv 290128 1.50 Cb 0.04%
Oneok Partners Lp 011022 3.375 Cb 0.04%
Pembina Pipeline 0.03%
Phillips 66 060423 3.70 Cb 0.03%
Reliance Industries Ltd 301127 3.667 Cb 0.01%
Rubis Eur1.25 0.03%
Snam Spa 0.02%
Snam Spa 120934 1.00 Cb 0.05%
Tc Energy Corp 0.01%
Tokyo Gas Co Ltd 0.01%
Valero Energy Corp 0.01%

Weapons

Tobacco

Alimentation Couche Tard Inc 250130 2.95 Cb 0.03%

Gambling

Vici Properties Inc 0.02%

Alcohol

Human Rights & Environmental Violations

Duke Energy Corp Com USD 0.001 Post Rev Splt 0.02%
Johnson & Johnson Com US$1 0.09%
Johnson + Johnson Common Stock Usd1.0 0.09%
Johnson and Johnson 150837 5.95 Cb 0.02%
Motorola Solutions Inc Common Stock USD.01 0.02%
Nestle Holdings Inc 240948 4.00 Cb 0.07%
Nestle SA 0.07%

Animal Testing

Air Liquide 0.02%
Air Liquide Finance SA 100929 2.25 Cb 0.04%
Air Liquide SA Common Stock Eur5.5 0.04%
Church & Dwight Co 0.02%
Clorox Co 150530 1.80 Cb 0.04%
Clorox Co Del 0.02%
Coca Cola Co 090341 1.00 Cb 0.05%
Coca Cola Co USD 0.05%
Croda International PLC Common Stock Gbp.1060976 0.07%
Eastman Chemical Co 260523 1.50 Cb 0.03%
Ecolab Inc 011126 2.70 Cb 0.03%
Ecolab Inc Common Stock Usd1.0 0.27%
Estee Lauder Companies 0.02%
Estee Lauder Companies Cl A Common Stock USD.01 0.14%
Fujifilm Holdings Corp Common Stock 0.02%
General Mills Inc 0.01%
Givaudan Finance Europe Bv 220427 1.00 Cb 0.01%
Givaudan Reg Common Stock Chf10.0 0.02%
Glaxosmithkline Capital Inc 150538 6.375 Cb 0.07%
Glaxosmithkline PLC 0.03%
Henkel AG & Co Kgaa Non Vtg Pref 0.01%
Hp Inc Common Stock USD.01 0.02%
Johnson & Johnson Com US$1 0.09%
Johnson + Johnson Common Stock Usd1.0 0.09%
Johnson and Johnson 150837 5.95 Cb 0.02%
Kerry Group PLC A Common Stock EUR.125 0.06%
Kimberly Clark Corp 010837 6.625 Cb 0.02%
Kimberly Clark Corp Com Usd1.25 0.02%
Kimberly Clark De Mexico Sab De Cv 010731 2.431 Sf 0.06%
Koninklijke Dsm Nv 0.01%
Koninklijke Dsm Nv Common Stock Eur1.5 0.12%
L Oreal Common Stock EUR.2 0.06%
L'Oreal 0.02%
Linde Finance Bv 0.25% Gtd Snr 19/05/27 EUR 0.01%
Linde PLC 0.01%
Linde PLC Common Stock EUR.001 0.08%
Nestle Holdings Inc 240948 4.00 Cb 0.07%
Nestle SA 0.07%
Nutrien Ltd 150325 3.375 Cb 0.04%
Pepsico Inc Cap US$0.01 2/3 0.04%
Praxair Inc 100850 2.00 Cb 0.05%
Procter & Gamble Company 0.07%
Procter + Gamble Co/The Common Stock 0.04%
Reckitt Benckiser Group PLC 0.02%
Reliance Industries Ltd 301127 3.667 Cb 0.01%
Sherwin Williams Com Usd1 0.02%
Symrise AG Common Stock 0.08%
Unilever Capital Corp 151132 5.90 Cb 0.04%
Unilever PLC 0.04%
Unilever PLC Common Stock Gbp.0311 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 Thu Sept. 30th 2021 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.

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.

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
2021	16.64%	11.55%
2020	-1.20%	-0.74%
2019	5.69%	4.09%
2018	5.19%	4.78%
2017	5.86%	5.12%
2016	4.01%	3.26%

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 Thu Sept. 30th 2021.

Showing the top 10 investments for this fund:

BNP New Zealand Dollar Custodial Account Indexed Cash Portfolio
New Zealand Cash and Equivalents

1.67%
BNP New Zealand Dollar Custodial Account Moderate Portfolio
New Zealand Cash and Equivalents

1.44%
Westpac Business Interest Account
New Zealand Cash and Equivalents AA-

1.43%
First Sentier Global Listed Infrastructure Fund
New Zealand Other

1.17%
New Zealand Government Bond 3.0% 20/04/2029
New Zealand NZ Fixed Interest AA+

1.09%
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities

1.04%
Bank Of New Zealand
New Zealand NZ Fixed Interest

0.99%
New Zealand Government Bond 5.5% 15/04/2023
New Zealand NZ Fixed Interest AA+

0.96%
New Zealand Government Bond 0.25% 15/05/2028
New Zealand NZ Fixed Interest AA+

0.94%
Housing New Zealand Ltd Bond 3.36% 12/06/2025
New Zealand NZ Fixed Interest AAA

0.8%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Thu Sept. 30th 2021.

How the money in this fund is invested against the fund's targets.

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	18.0%	22.23%
New Zealand Fixed Interest	13.0%	10.29%
International Fixed Interest	29.0%	27.57%
Australasian Equities	9.5%	7.67%
International Equities	22.5%	22.94%
Listed Properties	2.0%	1.94%
Unlisted Properties	2.0%	1.35%
Other	4.0%	4.21%
Commodities	0.0%	1.8%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Thu Sept. 30th 2021.

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).

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:

0.01%
Animal Testing:

2.57%
Fossil Fuels:

1.08%
Gambling:

0.03%
GMOs:

0.00%
Human Rights & Environmental Violations:

0.44%
Palm Oil:

0.00%
Tobacco:

0.04%
Weapons:

0.02%

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 their policy may be less stringent than the definitions applied by Mindful Money.

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.

In their own words

"Invests in cash and fixed interest with about a third of investments being in growth assets such as shares and real assets. This fund may be suitable for investors who want to invest in a fund with a broad mix of assets and who are comfortable with a higher degree of volatility in returns than can be expected from the Sustainable Conservative fund. Mercer is one of the world’s leading firms for superannuation and investments with over 23,000 colleagues worldwide helping ensure sustainable returns 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	$220M NZD
Period of data report	Thu Sept. 30th 2021
Members	6,182
Fund started	Wed Feb. 18th 2015
Total annual fund fees	0.73%
Total performance based fees	0.0%
Manager's basic fee	0.59%
Other management and administration charges	0.14%
Total other charges	27.0
Total other charges currency	NZD

Key Personnel

Kristen Kohere-Soutar	Currently: Chair - Mercer (N.Z.) Ltd (1 years, 10 months) Previously: Director - Mercer (N.Z.) Ltd (current) (4 years, 1 months)
Martin Lewington	Currently: CEO - Mercer (N.Z.) Ltd (12 years, 7 months) Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)
Kylie Willment	Currently: Chief Investment Officer Pacific Mercer Australia (Pty) Ltd (3 years, 11 months) Previously: Senior Manager Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)
Ronan Mccabe	Currently: Chief Investment Officer - New Zealand Mercer (N.Z.) Ltd (1 years, 1 months) Previously: Head of Portfolio Management Delegated Solutions Pacific Mercer Australia (Pty) Ltd (current) (2 years, 6 months)
Robert Kavanagh	Currently: Portfolio Manager - Mercer (N.Z.) Ltd (7 years, 6 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 Thu Sept. 30th 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.