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

    • Meta Platforms Inc-Class A 0.92%
    • Uber Technologies Inc. 0.90%
    • Ubs Group AG 0.40%
    • Thermo Fisher Scientific Inc 0.38%
    • Rio Tinto PLC-Spon Adr 0.25%
    • Rio Tinto Ltd 0.07%
    • Shell PLC 1.62% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • BHP Group Ltd 0.37% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Duke Energy Corp 0.26%
    • Freeport-Mcmoran Inc 0.12%
    • Shell PLC 1.62% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • LVMH Moet Hennessy Louis Vui 0.06%
    • L'Oreal 0.05%
    • Orica Ltd 0.04%
    • Hexcel Corp 0.32%
    • Contact Energy Ltd 1.98% 1.5°C
      This company is on a 1.5°C pathway
    • Shell PLC 1.62% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Santos Ltd 1.13% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Viva Energy Group Ltd 0.59% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Teck Resources Ltd-Cls B 0.54%
    • Ampol Ltd 0.50%
    • BHP Group Ltd 0.37% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Beach Energy Ltd 0.34% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Origin Energy Ltd 0.32% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Ameren Corporation 0.29%
    • Cheniere Energy Inc 0.27% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Duke Energy Corp 0.26%
    • Rio Tinto PLC-Spon Adr 0.25%
    • BP PLC 0.24% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Agl Energy Ltd 0.20%
    • Monadelphous Group Ltd 0.20%
    • Apa Group 0.19% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Channel Infrastructure NZ Limited 0.19%
    • South32 Ltd 0.16%
    • Eog Resources Inc 0.12% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Cooper Energy Ltd 0.10%
    • Whitehaven Coal Ltd 0.09%
    • Rio Tinto Ltd 0.07%
    • Genesis Energy Ltd 0.06%
    • Nextera Energy Inc 0.05%
    • Iberdrola SA 0.04% 1.5°C
      This company is on a 1.5°C pathway
    • Orica Ltd 0.04%
    • Rwe AG 0.04%
    • Tc Energy Corp 0.04% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Dominion Energy Inc 0.03%
    • Karoon Energy Ltd 0.03% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Orsted A/S 0.03% 1.5°C
      This company is on a 1.5°C pathway
    • Kinder Morgan Inc 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C

Fund Provider Response

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. Please see our website for a deeper explanation of our approach and examples of our engagement activities and outcomes: https://milfordasset.com/about-us/sustainable-investing

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 2024 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

Provides exposure to a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities

Value $25.3M NZD
Period of data report 30th June 2024
Members 589
Fund started 5th Oct. 2020
Total annual fund fees 1.28%
Total performance based fees 0.23%
Manager's basic fee 1.04%
Other management and administration charges 0.01%
Total other charges 0.0
Total other charges currency NZD

Mike Heath

Currently: Investment Committee Member (4 years, 3 months)
Previously: General Manager, InvestNow (6 years, 3 months)

Anthony Edmonds

Currently: Investment Committee Member (4 years, 3 months)
Previously: Director, FundRock NZ and InvestNow (13 years, 7 months)

Anthony Sowerby

Currently: Investment Committee Member (4 years, 3 months)
Previously: Head of Investment Management Oversight, FundRock NZ (2 years, 9 months)

Jason Choy

Currently: Investment Committee Member (1 years, 11 months)
Previously: Senior Portfolio Manager, FundRock NZ and InvestNow (2 years, 1 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30th June 2024.

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
2024 10.71% 10.08%
2023 -2.79% -0.55%
2022 1.34% 5.31%

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 June 2024.

Top 10 Investments

  • Milford Balanced Fund
    New Zealand Fund
    100.0%
Type Target Actual
Cash and Cash Equivalents 8.0% 12.24%
New Zealand Fixed Interest 6.0% 7.53%
International Fixed Interest 25.0% 24.82%
Australasian Equities 24.0% 21.05%
International Equities 30.0% 30.55%
Listed Properties 7.0% 3.81%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
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 June 2024.