NZ Funds Lifecycle Process - Age 65

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Type: Growth fund
Past Returns: 16.64%

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

Annual Fees: 3.06%

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

First Quantum Minerals Ltd 0.44%

Alcohol

LVMH Moet Hennessy Louis Vuitton Se 0.10%

Human Rights & Environmental Violations

Nestle SA 0.04%
Rio Tinto Ltd 0.03%

Animal Testing

Croda International PLC 0.020%
Dupont De Nemours Inc 0.020%
Energizer Holdings 4.75% 15/06/2028 0.380%
L'Oreal Eur0.20 0.030%
LVMH Moet Hennessy Louis Vuitton Se 0.100%
Linde PLC 0.050%
Mondelez International Inc 0.050%
Nestle SA 0.040%
Oci 0.500%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Wed March 31st 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 28.03% 49.76%
2020 -3.79% -3.9%
2019 7.09% 4.05%
2018 8.01% 3.69%
2017 9.24% 6.98%
2016 3.62% -3.99%
2015 13.73% 13.39%
2014 8.43% 7.25%
2013 12.00% 10.55%
2012 -1.50% -0.68%

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 Wed March 31st 2021.

Showing the top 10 investments for this fund:

  • Westpac Current Account
    New Zealand Cash and Equivalents A-1+
    14.42%
  • Goldman Sachs USD Margin Account
    United Kingdom Cash and Equivalents A-1
    10.02%
  • Citibank Hong Kong USD Current Account
    United States Cash and Equivalents A-1
    7.14%
  • Goldman Sachs AUD Margin Account
    United Kingdom Cash and Equivalents A-1
    3.59%
  • Goldman Sachs NZD Margin Account
    United Kingdom Cash and Equivalents A-1
    3.17%
  • Citibank Australia AUD Current Account
    United States Cash and Equivalents A-1
    3.11%
  • Galaxy Institutional Bitcoin Fund
    Cayman Islands Other
    2.77%
  • Goldmans Sachs Otc Collateral NZD Margin Account
    United Kingdom Cash and Equivalents A-1
    2.73%
  • Summerset Group Holdings Ltd
    New Zealand Australasian Equities
    2.52%
  • Citibank New Zealand NZD Current Account
    United States Cash and Equivalents A-1
    2.5%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 6.0% 10.08%
New Zealand Fixed Interest 16.0% 5.92%
International Fixed Interest 17.0% 6.28%
Australasian Equities 20.0% 35.82%
International Equities 39.0% 32.92%
Listed Properties 2.0% 1.02%
Unlisted Properties 0.0% 0.0%
Other 0.0% 4.13%
Commodities 0.0% 3.83%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Wed March 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:
    0.10%
  • Animal Testing:
    1.19%
  • Fossil Fuels:
    0.44%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.07%
  • 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 Wed March 31st 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

"The objective of LifeCycle is to allocate your investment across the three funds (Strategies) in the Scheme based on your age to ensure your investment is allocated in a manner consistent with your investment timeframe. At age 65 your investment will be allocated as follows: 27% to the Income Strategy; 34% to the Inflation Strategy; and 39% to the Growth Strategy."

Value $8.4M NZD
Period of data report Wed March 31st 2021
Members 120
Fund started Mon Nov. 1st 2010
Total annual fund fees 3.06%
Total performance based fees 0.35%
Manager's basic fee 1.04%
Other management and administration charges 1.67%
Total other charges 36.0
Total other charges currency NZD

Key Personnel

Michael Lang

Currently: Chief Executive and a Director (2 years, 6 months)
Previously: Chief Investment Officer New Zealand Funds Management Limited (10 years, 1 months)

James Grigor

Currently: Chief Investment Officer and a Principal (2 years, 4 months)
Previously: Senior Portfolio Manager New Zealand Funds Management Limited (1 years, 7 months)

Mark Brooks

Currently: Head of Income and a Principal (13 years, 4 months)
Previously: Senior Portfolio Manager Credaris (3 years, 4 months)

Andrew Curtayne

Currently: Senior Portfolio Manager (0 years, 11 months)
Previously: Senior Analyst Melqart Asset Management (3 years, 8 months)

David Haslam

Currently: Senior Dealer (4 years, 3 months)
Previously: Equities Trader UBS NZ (0 years, 11 months)

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

Downloads

Download the fund's disclosure statement and portfolio holdings.

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