Pathfinder KiwiSaver Conservative Fund

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Mindful Fund

Fund type: Conservative fund

Past Returns: *6.84%

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

Annual Fees: 0.84%

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.

This fund has no investments in issues 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 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 8.80% 6.84%

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 Fri Dec. 31st 2021.

Showing the top 10 investments for this fund:

  • Cash At Bank - NZD -Westpac
    New Zealand Cash and Equivalents AA-
    22.2168%
  • Pwa - NZD - Cash At Call (Westpac)
    New Zealand Cash and Equivalents AA-
    13.0735%
  • Westpac Term Deposit To 29/07/24
    New Zealand NZ Fixed Interest AA-
    3.7306%
  • Community Refuge Trust To 21/03/2026
    New Zealand NZ Fixed Interest AAA
    3.5597%
  • Transpower New Zealand Ltd To 03/15/2023
    New Zealand NZ Fixed Interest AA
    2.8717%
  • Auckland International Airport To 02/11/2023
    New Zealand NZ Fixed Interest A-
    2.7607%
  • Mercury NZ To 29/09/2026
    New Zealand NZ Fixed Interest BBB+
    2.5874%
  • ANZ Bank New Zealand Ltd. To 17/09/2031
    New Zealand NZ Fixed Interest AA-
    2.3847%
  • Auckland Council To 24/03/2025
    New Zealand NZ Fixed Interest AA
    2.266%
  • Kiwi Property Group Ltd To 07/09/2023
    New Zealand NZ Fixed Interest BBB
    2.2155%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Fri Dec. 31st 2021.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 25.3% 38.53%
New Zealand Fixed Interest 25.8% 32.1%
International Fixed Interest 33.5% 4.11%
Australasian Equities 3.6% 5.79%
International Equities 6.8% 7.91%
Listed Properties 0.0% 1.53%
Unlisted Properties 0.0% 0.0%
Other 5.0% 10.03%
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 Dec. 31st 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:
    0.00%
  • Animal Testing:
    0.00%
  • Fossil Fuels:
    0.00%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.00%
  • 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 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.

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

"An ethical portfolio with a higher exposure to income assets and a lower exposure to growth assets. This Fund’s value is unlikely to fluctuate as much as the Balanced Fund or 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 $9.4M NZD
Period of data report Fri Dec. 31st 2021
Members 305
Fund started Tue July 23rd 2019
Total annual fund fees 0.84%
Total performance based fees 0.0%
Manager's basic fee 0.8%
Other management and administration charges 0.04%
Total other charges 27.0
Total other charges currency NZD

Key Personnel

John Berry

Currently: CEO (12 years, 9 months)
Previously: Deutsche Bank - Consultant (4 years, 9 months)

Paul Brownsey

Currently: CIO (12 years, 9 months)
Previously: Deutsche Bank - Director (5 years, 0 months)

James Caughey

Currently: Investment Stragetist (4 years, 4 months)
Previously: Senior Research Analyst - NZAM (6 years, 0 months)

Nish Vyas

Currently: Director of Private Wealth (1 years, 11 months)
Previously: Senior Private Banker - BNZ (4 years, 0 months)

Kent Fraser

Currently: Chair of Investment Committee (5 years, 3 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 Dec. 31st 2021.

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.