Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all KiwiSaver defensive funds is 0.86%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Produces electricity from plants and distributes gas. Is expanding its portfolio of renewable assets (wind & solar farms + hydro) and options to reduce emissions from Huntly (Battery technology and biomass use). However, in 2023 35% of revenue came from fossil fuel generation - Huntley Power Station (Coal & Gas) and sales of gas from the Kupe field.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
One of Aotearoa New Zealand’s largest electric utilities companies. Operates three thermal power stations that employ gas and diesel. In FY2024, 81% of the energy Contact generated came from renewable energy (lower than in 2023 due to a dry winter). However, at the end of 2024 Contact opened a major new geothermal renewable facility - the Tauhara plant. It is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
At Milford, we are acutely aware of our capacity as shareholders to drive positive change. Rather than just avoid harm, we believe it is our duty to use our seat at the table to help drive the transition to a more sustainable future. We use our detailed research to enable educated conversations with the companies we invest in and push them to deliver better outcomes via sustainability targets, action and reporting. Please see our website for a deeper explanation of our approach and examples in our latest engagement activities and outcomes report: https://milfordasset.com/Engagement-Activity-and-Outcomes
The Fund's objective is to target a return above the New Zealand Official Cash Rate after the base fund fee but before tax. It primarily invests in New Zealand cash, short-dated debt securities and term deposits.
| Value | $152M NZD |
| Period of data report | 31st March 2025 |
| Members | 2,692 |
| Fund started | 27th March 2020 |
| Total annual fund fees | 0.2% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.18% |
| Other management and administration charges | 0.02% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Katlyn Parker |
Currently: Investment Analyst (6 years, 11 months)
|
|
Bradley Litt |
Currently: Credit Trading Manager (1 years, 11 months)
|
|
Ian Robertson |
Currently: Senior Analyst (7 years, 11 months)
|
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.
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 |
|---|---|---|
| 2025 | 3.81% | 3.73% |
| 2024 | 3.51% | 4.08% |
| 2023 | -0.13% | 2.33% |
| 2022 | -1.68% | 0.46% |
| 2021 | 1.56% | 0.26% |
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 31st March 2025.
Westpac 45 Day Wholesale Notice Deposit
New Zealand NZ Fixed Interest AA-
NZD Cash Call Account (Bank Of New Zealand)
New Zealand Cash and Equivalents AA-
Auckland Airport Commercial Paper 22/04/2025
New Zealand NZ Fixed Interest A-
Kiwibank 4.21% 07/05/2025
New Zealand NZ Fixed Interest A+
Spark New Zealand Commercial Paper 21/05/2025
New Zealand NZ Fixed Interest A-
Kiwibank Limited 3.93% 17/06/2025
New Zealand NZ Fixed Interest A+
NZD Cash Call Account (Bank Of China)
New Zealand Cash and Equivalents A
ANZ Bank New Zealand Limited 3.99% 04/06/2025
New Zealand NZ Fixed Interest AA-
ASB Bank Limited 4.05% 10/06/2025
New Zealand NZ Fixed Interest AA-
Spark New Zealand Commercial Paper 23/04/2025
New Zealand NZ Fixed Interest A-
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 20.0% | 13.01% |
| New Zealand Fixed Interest | 80.0% | 86.99% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 0.0% | 0.0% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 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 31st March 2025 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.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Produces electricity from plants and distributes gas. Is expanding its portfolio of renewable assets (wind & solar farms + hydro) and options to reduce emissions from Huntly (Battery technology and biomass use). However, in 2023 35% of revenue came from fossil fuel generation - Huntley Power Station (Coal & Gas) and sales of gas from the Kupe field.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
One of Aotearoa New Zealand’s largest electric utilities companies. Operates three thermal power stations that employ gas and diesel. In FY2024, 81% of the energy Contact generated came from renewable energy (lower than in 2023 due to a dry winter). However, at the end of 2024 Contact opened a major new geothermal renewable facility - the Tauhara plant. It is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
At Milford, we are acutely aware of our capacity as shareholders to drive positive change. Rather than just avoid harm, we believe it is our duty to use our seat at the table to help drive the transition to a more sustainable future. We use our detailed research to enable educated conversations with the companies we invest in and push them to deliver better outcomes via sustainability targets, action and reporting. Please see our website for a deeper explanation of our approach and examples in our latest engagement activities and outcomes report: https://milfordasset.com/Engagement-Activity-and-Outcomes
The Fund's objective is to target a return above the New Zealand Official Cash Rate after the base fund fee but before tax. It primarily invests in New Zealand cash, short-dated debt securities and term deposits.
| Value | $152M NZD |
| Period of data report | 31st March 2025 |
| Members | 2,692 |
| Fund started | 27th March 2020 |
| Total annual fund fees | 0.2% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.18% |
| Other management and administration charges | 0.02% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Katlyn Parker |
Currently: Investment Analyst (6 years, 11 months)
|
|
Bradley Litt |
Currently: Credit Trading Manager (1 years, 11 months)
|
|
Ian Robertson |
Currently: Senior Analyst (7 years, 11 months)
|
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.
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 |
|---|---|---|
| 2025 | 3.81% | 3.73% |
| 2024 | 3.51% | 4.08% |
| 2023 | -0.13% | 2.33% |
| 2022 | -1.68% | 0.46% |
| 2021 | 1.56% | 0.26% |
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 31st March 2025.
Westpac 45 Day Wholesale Notice Deposit
New Zealand NZ Fixed Interest AA-
NZD Cash Call Account (Bank Of New Zealand)
New Zealand Cash and Equivalents AA-
Auckland Airport Commercial Paper 22/04/2025
New Zealand NZ Fixed Interest A-
Kiwibank 4.21% 07/05/2025
New Zealand NZ Fixed Interest A+
Spark New Zealand Commercial Paper 21/05/2025
New Zealand NZ Fixed Interest A-
Kiwibank Limited 3.93% 17/06/2025
New Zealand NZ Fixed Interest A+
NZD Cash Call Account (Bank Of China)
New Zealand Cash and Equivalents A
ANZ Bank New Zealand Limited 3.99% 04/06/2025
New Zealand NZ Fixed Interest AA-
ASB Bank Limited 4.05% 10/06/2025
New Zealand NZ Fixed Interest AA-
Spark New Zealand Commercial Paper 23/04/2025
New Zealand NZ Fixed Interest A-
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 20.0% | 13.01% |
| New Zealand Fixed Interest | 80.0% | 86.99% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 0.0% | 0.0% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.
