Milford KiwiSaver Moderate Fund

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Fund type: Balanced fund

Past Returns: *14.76%

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

Annual Fees: 1.13%

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

Apa Group 0.14%
BHP Group Ltd 0.07%
BHP Group PLC 0.23%
Dominion Energy Inc 0.02%
Santos Ltd 0.41%

Weapons

Amphenol Corp-Cl A 0.21%
Transdigm Group Inc 0.28%

Gambling

Aristocrat Leisure Ltd 0.11%
Crown Resorts Ltd Frn 04/23/2075 0.03%

Alcohol

Delegat Group Ltd 0.12%
Foley Wines Ltd 0.01%
LVMH Moet Hennessy Louis Vui 0.34%
United Malt Group Ltd 0.05%

Human Rights & Environmental Violations

BHP Group Ltd 0.07%
BHP Group PLC 0.23%
Rio Tinto Ltd 0.03%
Rio Tinto PLC-Spon Adr 0.01%

Animal Testing

Estee Lauder Cos Inc/The 0.28%
L'Oreal SA 0.15%
L'Oreal SA - Pf 0.06%
LVMH Moet Hennessy Louis Vui 0.34%

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 16.64% 14.76%

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:

  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    9.2%
  • EUR Cash Current Account (Citibank)
    Germany Cash and Equivalents A+
    1.77%
  • New Zealand Government Bond 0.5% 15/05/2026
    New Zealand NZ Fixed Interest AAA
    1.31%
  • Kiwibank 1.3% 03/02/2022
    New Zealand NZ Fixed Interest AA-
    1.25%
  • Contact Energy Ltd
    New Zealand Australasian Equities BBB
    1.19%
  • AUD Cash Current Account (Nab Bank)
    Australia Cash and Equivalents AA-
    1.09%
  • NZD Cash Call Account (Bank Of China)
    New Zealand Cash and Equivalents A
    1.0%
  • ANZ Bank 1.45% 21/04/2022
    New Zealand NZ Fixed Interest AA-
    0.95%
  • NZ Local Government Funding 1.5% 15/04/2026
    New Zealand NZ Fixed Interest AAA
    0.8%
  • Alphabet Inc - Class C
    United States International Equities
    0.79%

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 9.0% 15.66%
New Zealand Fixed Interest 15.0% 12.87%
International Fixed Interest 36.0% 31.86%
Australasian Equities 15.0% 14.57%
International Equities 19.0% 19.82%
Listed Properties 6.0% 5.22%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
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:
    0.52%
  • Animal Testing:
    0.83%
  • Fossil Fuels:
    0.91%
  • Gambling:
    0.14%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.34%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.49%

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

"The Fund’s objective is to provide moderate returns and capital growth after the base fund fee but before tax and before the performance fee over the minimum recommended investment timeframe of four years. It is a diversified fund that primarily invests in fixed interest securities with a significant allocation to equities."

Value $89M NZD
Period of data report Fri Dec. 31st 2021
Members 2,169
Fund started Fri March 27th 2020
Total annual fund fees 1.13%
Total performance based fees 0.18%
Manager's basic fee 0.86%
Other management and administration charges 0.09%
Total other charges 30.0
Total other charges currency NZD

Key Personnel

Mark Riggall

Currently: Portfolio Manager Senior Dealer (7 years, 0 months)
Previously: Executive Director of Equity Derivatives Trading at Morgan Stanley United Kingdom and Hong Kong (11 years, 0 months)

Paul Morris

Currently: Portfolio Manager (5 years, 11 months)
Previously: Head of Portfolio Strategy and Fixed Income at Macquarie Private Wealth New Zealand (4 years, 6 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.