Pathfinder KiwiSaver Balanced Fund

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Mindful Fund

Fund type: Balanced fund

Past Returns: No three year data yet

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

Annual Fees: 1.18%

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

Contact Energy Ltd 0.71%
National Grid PLC 0.09%

Human Rights & Environmental Violations

Caterpillar Inc 0.22%
Activision Blizzard Inc 0.16%

Animal Testing

Barry Callebaut AG 0.10%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Fri Sept. 30th 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.

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% 4.97%
2021 16.60% 21.62%

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 Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • Cash At Bank - NZD - Westpac
    New Zealand Cash and Equivalents AA-
    7.42%
  • Westpac Term Deposit To 09/02/2023
    New Zealand Cash and Equivalents AA-
    5.93%
  • Kiwibank To 20/09/2024
    New Zealand NZ Fixed Interest A+
    2.57%
  • Contact Energy To 11/04/2028
    New Zealand NZ Fixed Interest BBB
    1.95%
  • American Waters Works Co Inc
    United States International Equities
    1.66%
  • Microsoft Corporation
    United States International Equities
    1.52%
  • Asian Development Bank To 27/05/2027
    New Zealand NZ Fixed Interest AAA
    1.43%
  • Vector To 14/03/2024
    New Zealand NZ Fixed Interest BBB+
    1.36%
  • Community Refuge Trust To 21/03/2026
    New Zealand NZ Fixed Interest
    1.3%
  • Transpower NZ Ltd To 16/09/2027
    New Zealand NZ Fixed Interest AA-
    1.25%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Fri Sept. 30th 2022.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 10.7% 13.51%
New Zealand Fixed Interest 12.2% 27.65%
International Fixed Interest 21.1% 2.72%
Australasian Equities 14.6% 16.03%
International Equities 32.4% 29.79%
Listed Properties 4.0% 3.93%
Unlisted Properties 0.0% 0.0%
Other 5.0% 6.37%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Fri Sept. 30th 2022.

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 Testing:
    0.11%
  • Fossil Fuels:
    0.80%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.38%
  • 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 Fri Sept. 30th 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.

In their own words

"An ethical portfolio with a balance between growth assets and income assets. This Fund’s value is likely to fluctuate more than the Conservative Fund but less than the Growth Fund. Pathfinder is a boutique fund manager based in Auckland. We started investing ethically in 2010, and now manage eight Funds, with our research and expertise focused on investing responsibly and ethically in global markets. We seek out companies actively making a positive difference and believe these kinds of companies also make better long-term financial investments. Investing ethically to us means making conscious choices for doing good with the money we manage. We want our investors to both do good and do well."

Value $51M NZD
Period of data report Fri Sept. 30th 2022
Members 1,491
Fund started Tue July 23rd 2019
Total annual fund fees 1.18%
Total performance based fees 0.0%
Manager's basic fee 1.1%
Other management and administration charges 0.08%
Total other charges 27.0
Total other charges currency NZD

Key Personnel

John Berry

Currently: CEO (13 years, 6 months)
Previously: Deutsche Bank - Consultant (4 years, 9 months)

Paul Brownsey

Currently: CIO (13 years, 6 months)
Previously: Deutsche Bank - Director (5 years, 0 months)

James Caughey

Currently: Investment Strategist (5 years, 1 months)
Previously: Senior Research Analyst - NZAM (6 years, 0 months)

Nish Vyas

Currently: Director of Private Wealth (2 years, 8 months)
Previously: Senior Private Banker - BNZ (4 years, 0 months)

Kent Fraser

Currently: Chair of Investment Committee (6 years, 0 months)
Previously: (None years, None months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Fri Sept. 30th 2022.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.