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:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Caterpillar Inc 0.07%
    • Contact Energy Ltd 0.26% 1.5°C
      This company is on a 1.5°C pathway

Fund Provider Response

As of November 2023, this fund no longer invests in Caterpillar.

We consider Contact Energy to be a “good citizen” which is working hard to mitigate its contribution to climate change with its large investment in new renewable energy generation plants (geothermal and wind).  Although Contact still have two remaining fossil fuelled generation plants, they are used only when demand conditions make it necessary to preserve electrical grid supply to customers. In addition, Contact plans to phase these plants out by 2025.

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. 2023 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

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 9 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 $14.5M NZD
Period of data report 30th Sept. 2023
Members 586
Fund started 23rd July 2019
Total annual fund fees 0.88%
Total performance based fees 0.0%
Manager's basic fee 0.8%
Other management and administration charges 0.08%
Total other charges 27.0
Total other charges currency NZD

John Berry

Currently: CEO (14 years, 6 months)
Previously: Deutsche Bank - Consultant (4 years, 9 months)

Paul Brownsey

Currently: CIO (14 years, 6 months)
Previously: Deutsche Bank - Director (5 years, 0 months)

Kent Fraser

Currently: Chair of Ethics and Investment Committee (7 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 30th Sept. 2023.

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
2023 -1.85% -0.05%
2022 -0.58% 1.88%
2021 8.94% 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 30th Sept. 2023.

Top 10 Investments

  • Cash At Bank - NZD - Westpac
    New Zealand Cash and Equivalents AA-
    14.19%
  • Kiwibank Bond 20/09/2024
    New Zealand NZ Fixed Interest A+
    3.66%
  • Vector NZ 14/03/2024
    New Zealand NZ Fixed Interest BBB
    3.66%
  • Kapstream Absolute Return Income Plus Fund
    Australia Int Fixed Interest
    3.01%
  • Community Refuge Fund 21/03/2026
    New Zealand NZ Fixed Interest
    2.37%
  • Westpac Bond 29/07/2024
    New Zealand NZ Fixed Interest AA-
    2.35%
  • Auckland International Airport 02/11/2023
    New Zealand NZ Fixed Interest A-
    2.17%
  • Spark NZ 07/03/2024
    New Zealand NZ Fixed Interest A-
    2.05%
  • ASB Bond 16/11/2026
    New Zealand NZ Fixed Interest AA-
    1.97%
  • Landwirtschaftliche Rentenbank 11/02/2027
    Germany Int Fixed Interest AAA
    1.9%
Type Target Actual
Cash and Cash Equivalents 24.0% 17.01%
New Zealand Fixed Interest 23.6% 48.24%
International Fixed Interest 37.7% 13.92%
Australasian Equities 3.4% 6.01%
International Equities 6.3% 11.07%
Listed Properties 0.0% 1.29%
Unlisted Properties 0.0% 0.0%
Other 5.0% 2.46%
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 30th Sept. 2023.