Mercer KiwiSaver Scheme

Mindful Fund

Type: Growth fund

Past Returns: 2.85%

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

Annual Fees: 0.89%

Annual fees, including any membership and % management 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

Aker BP Asa 0.02%
American Electric Power Company, Inc. 0.09%
Anglo American PLC 0.03%
Apa Group 0.02%
Atco Ltd 0.02%
BHP Group Limited Ordinary Fully Paid 0.05%
BHP Group PLC 0.10%
Canadian Utilities Ltd A 0.01%
Chevron Corp 0.02%
China Petroleum & Chemical 0.03%
Clp Holdings Limited Hkd 0.06%
Cnooc Ltd 0.02%
Dominion Energy Inc Com 0.11%
Dte Energy Co USD 0.02%
Emera Inc 0.05%
Enbridge Inc 0.06%
Energy Transfer Eq Com Units Rep Ltd Ptn 0.02%
Engie Aug5 0.06%
Eni Spa 0.01%
Enterprise Products Partners Lp 0.03%
Eog Resources Inc 0.03%
Exxon Mobil Corporation 0.03%
Firstenergy Corp 3.9% 07-15-2027 0.01%
Firstenergy Corp USD 0.04%
Gazprom PJSC Spon Adr 0.03%
Hokkaido Electric Power Co 0.02%
Idemitsu Kosan Co Ltd 0.02%
Kirby Corp 0.04%
Koninklijke Vopak Nv 0.06%
Kunlun Energy Company Limited 0.01%
Lyondellbasell Industries 0.04%
Marathon Petrol Com 0.01%
Nextera Energy Cap Hldgs Inc 2.75% Due 11-01-2029 0.01%
Nextera Energy Inc 0.14%
Nextera Energy Partners Lp 0.02%
Novatek PJSC 0.02%
Oao Gazprom Spon Adr Reg S 0.02%
OMV AG 0.02%
Petrochina Co Ltd H 0.03%
Petroleo Brasileiro Petrobras SA 0.02%
Phillips 66 Com Usd0.01 0.03%
Ptt Public Company Thb10 0.01%
Repsol SA 0.02%
Royal Dutch Shell PLC - A Shares 0.02%
Royal Dutch Shell PLC-B Shs 0.04%
Rubis Eur1.25 0.16%
Shikoku Electric Power Company Incorpora 0.02%
Sm Energy Company 0.02%
Snam Spa 0.09%
Suez 0.03%
Tatneft PJSC Ads 0.01%
Teekay Lng Partners Lp 0.02%
Tenaga Nasional Berhad 0.01%
Total SA 0.06%
Valero Energy Corp 0.03%
Wec Energy Group Inc 0.04%
Wpx Energy Inc Com 0.01%
Xcel Energy Inc 0.06%
Xcel Energy Inc 2.6% Due 12-01-2029 0.02%
Xcel Energy Inc. 0.06%

Weapons

Axon Enterprise I Com USD 0.00001 0.03%
Caci International Inc - Class A 0.01%
Raytheon Company 0.08%
Rheinmetall AG 0.01%

Tobacco

Gambling

Churchill Downs Incorporated 0.02%
Evolution Gaming Group Ab 0.01%
Playtech Ord Npv 0.01%
Sands China Limited 0.02%
Skycity Entertainment Group Limited 0.12%

Alcohol

Ambev SA Com Npv 0.01%
Brown Forman Corp 0.01%
Carlsberg As - B 0.07%
Constellation Brands Inc-A 0.02%
Diageo Ord 28 101/108P 0.08%
Metcash Limited 0.01%
Pernod-Ricard SA 0.10%
Tsingtao Brewery Company Limited 0.01%
Want Want China Holdings Ltd 0.02%

GMOs

Basf Se 0.02%
Bayer AG 0.02%
Novartis Adr Sponsored 0.02%
Novartis AG - Chf0.50 (Regd) 0.50%
Novozymes A/S Ser`B`Dkk2 0.02%
Syngenta Finance Nv 0.02%

Human Rights & Environmental Violations

BHP Group Limited Ordinary Fully Paid 0.05%
BHP Group PLC 0.10%
Centerra Gold Inc 0.02%
Chevron Corp 0.02%
Johnson & Johnson Com US$1 0.29%
Nestle SA 0.14%
Petrochina Co Ltd H 0.03%
Petroleo Brasileiro Petrobras SA 0.02%
Rio Tinto Limited 0.10%
Rio Tinto PLC 0.03%
Rio Tinto PLC Ord 10P Gbp 0.08%
Royal Dutch Shell PLC - A Shares 0.02%
Royal Dutch Shell PLC-B Shs 0.04%
Sempra Energy USD 0.05%
Tokyo Electric Power Company Holdings Incorporated 0.02%
Vale SA 0.04%

Animal Testing

Albermarle Corp 0.030%
Basf Se 0.020%
Bayer AG 0.020%
Chevron Corp 0.020%
Clorox Co Del 0.020%
Coca Cola Co USD 0.160%
Coca-Cola Femsa S.Units 0.010%
Colgate Palmolive Usd1 0.060%
Glaxosmithkline PLC 0.080%
Henkel AG & Co Kgaa 0.020%
Henkel AG & Co Kgaa Non Vtg Pref 0.010%
Johnson & Johnson Com US$1 0.290%
Kikkoman Corporation Jpy 0.010%
Kimberly Clark Corp Com Usd1.25 0.040%
Kimberly Clark De Mexico A 0.020%
L'Oreal 0.020%
Mitsui Chemicals Inc 0.020%
Nestle SA 0.140%
Novozymes A/S Ser`B`Dkk2 0.020%
Nu Skin Enterprises Inc - Class A 0.010%
Orica Limited 0.020%
Pepsico Inc Cap US$0.01 2/3 0.130%
PPG Industries Inc 0.010%
Procter & Gamble Company 0.160%
Reckitt Benckiser Group PLC 0.080%
Royal Dutch Shell PLC - A Shares 0.020%
Royal Dutch Shell PLC-B Shs 0.040%
Syngenta Finance Nv 0.020%
Unilever Nv 0.030%
Unilever Nv Eur0.16 0.030%
Unilever PLC 0.040%
Usana Helath Sciences Inc 0.030%
Victrex PLC 0.010%
Walgreens Boots Al Com Usd0.01 0.040%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Tue March 31st 2020 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 and research organisations.

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
2020	-3.47%	-4.97%
2019	6.87%	5.53%
2018	7.63%	8.0%
2017	8.87%	9.52%
2016	3.62%	3.24%

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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

AMP Capital Investors NZ Cash Fund
New Zealand Cash and Equivalents

3.1%
First State Investments Global Listed Infrastructure Fund
New Zealand Other

2.11%
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities

1.81%
Robeco Global Credit Fund
Australia Int Fixed Interest NA

1.81%
The A2 Milk Company Limited
New Zealand Australasian Equities

1.58%
BNP Paribas US Dollar Account
United States International Equities

1.48%
Kkr & Co Lp Global Infrastructure Fund
Australia Other

1.05%
Aviva Investors Multi-Strategy Fixed Income Fund
Australia Int Fixed Interest

1.04%
New Forests Australia NZ Forest Investment Fund
Australia Commodities

0.99%
Microsoft Corp
United States International Equities

0.97%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Tue June 30th 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	4.0%	4.74%
New Zealand Fixed Interest	5.0%	4.92%
International Fixed Interest	16.0%	15.72%
Australasian Equities	12.0%	10.92%
International Equities	44.0%	44.35%
Listed Properties	3.5%	3.45%
Unlisted Properties	3.5%	3.63%
Other	10.0%	10.24%
Commodities	2.0%	2.03%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Tue June 30th 2020.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a 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:

0.42%
Animal Testing:

1.82%
Fossil Fuels:

2.62%
Gambling:

0.19%
GMOs:

0.63%
Human Rights & Environmental Violations:

1.12%
Palm Oil:

0.00%
Tobacco:

0.01%
Weapons:

0.16%

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"Invests mainly in growth assets such as shares, real assets and alternative assets with only a limited amount in cash and fixed interest. May be suitable for investors wanting to invest mostly in growth assets who are comfortable accepting more volatile returns than those expected from the Balanced fund with a view to achieving higher longer-term returns. 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	$130M NZD
Period of data report	Tue June 30th 2020
Members	4,925
Fund started	Wed Feb. 18th 2015
Total annual fund fees	0.89%
Total performance based fees	0.0%
Manager's basic fee	0.77%
Administration charges	0.12%
Total other charges	28.5
Total other charges currency	NZD

Key Personnel

Kristen Kohere-Soutar	Currently: Chair - Mercer (N.Z.) Ltd (0 years, 7 months) Previously: Director - Mercer (N.Z.) Ltd (current) (2 years, 10 months)
Martin Lewington	Currently: CEO - Mercer (N.Z.) Ltd (11 years, 4 months) Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)
Philip Houghton-Brown	Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (7 years, 11 months) Previously: Chief Investment Officer - OnePath (NZ) Ltd (5 years, 3 months)
Kylie Willment	Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (2 years, 8 months) Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)
Ronan Mccabe	Currently: Head of Portfolio Management, Delegated Solutions Pacific, Mercer Australia (Pty) Ltd (1 years, 3 months) Previously: Senior Investment Manager - Ireland Strategic Investment Fund (ISIF) (3 years, 7 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Tue June 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Mercer Growth Fund