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 low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Wells Fargo is a multinational financial services company which serves millions of customers in 35 countries. They have been involved in significant business ethics scandals for false inflation, cross selling and misleading customers over a period of 2002 to 2016.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
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.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
Invests in income assets and is designed for investors that want an investment in New Zealand and international fixed interest. Negative annual returns may occur once in every 7-10 years on average.
| Value | $253M NZD |
| Period of data report | 31st March 2025 |
| Members | 16,186 |
| Fund started | 15th Sept. 2013 |
| Total annual fund fees | 0.56% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.55% |
| Other management and administration charges | 0.01% |
| Total other charges | 30.0 |
| Total other charges currency | NZD |
|
Guy Roulston Elliffe |
Currently: Director (9 years, 4 months)
|
|
Stuart Kenneth Reginald Millar |
Currently: Chief Investment Officer - Smartshares (5 years, 10 months)
|
|
Anna Lennie Scott |
Currently: Chief Executive Officer - Smartshares (1 years, 6 months)
|
|
Alister John Williams |
Currently: Director (9 years, 4 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% | 3.17% |
| 2024 | 3.51% | 2.38% |
| 2023 | -0.13% | -2.28% |
| 2022 | -1.68% | -2.79% |
| 2021 | 1.56% | 3.29% |
| 2020 | 1.64% | 1.76% |
| 2019 | 2.37% | 3.44% |
| 2018 | 2.05% | 2.91% |
| 2017 | 1.53% | 2.67% |
| 2016 | 2.72% | 2.6% |
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.
Ishares Core Global Aggregate Bond Ucits ETF
Ireland Int Fixed Interest
Vanguard International Credit Securities Index Fund (Hedged)
Australia Int Fixed Interest
New Zealand Government 3.50% 14/04/2033
New Zealand NZ Fixed Interest AAA
New Zealand Government 4.50% 15/05/2030
New Zealand NZ Fixed Interest AA+
New Zealand Government 0.25% 15/05/2028
New Zealand NZ Fixed Interest AAA
New Zealand Government 3.00% 20/04/2029
New Zealand NZ Fixed Interest AAA
New Zealand Government 4.50% 15/05/2035
New Zealand NZ Fixed Interest AAA
New Zealand Government 4.50% 15/04/2027
New Zealand NZ Fixed Interest AA+
New Zealand Government 1.50% 15/05/2031
New Zealand NZ Fixed Interest AAA
New Zealand Government 2.00% 15/05/2032
New Zealand NZ Fixed Interest AAA
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 20.0% | 19.29% |
| New Zealand Fixed Interest | 30.0% | 30.32% |
| International Fixed Interest | 50.0% | 50.39% |
| 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 low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Wells Fargo is a multinational financial services company which serves millions of customers in 35 countries. They have been involved in significant business ethics scandals for false inflation, cross selling and misleading customers over a period of 2002 to 2016.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
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.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
Invests in income assets and is designed for investors that want an investment in New Zealand and international fixed interest. Negative annual returns may occur once in every 7-10 years on average.
| Value | $253M NZD |
| Period of data report | 31st March 2025 |
| Members | 16,186 |
| Fund started | 15th Sept. 2013 |
| Total annual fund fees | 0.56% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.55% |
| Other management and administration charges | 0.01% |
| Total other charges | 30.0 |
| Total other charges currency | NZD |
|
Guy Roulston Elliffe |
Currently: Director (9 years, 4 months)
|
|
Stuart Kenneth Reginald Millar |
Currently: Chief Investment Officer - Smartshares (5 years, 10 months)
|
|
Anna Lennie Scott |
Currently: Chief Executive Officer - Smartshares (1 years, 6 months)
|
|
Alister John Williams |
Currently: Director (9 years, 4 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% | 3.17% |
| 2024 | 3.51% | 2.38% |
| 2023 | -0.13% | -2.28% |
| 2022 | -1.68% | -2.79% |
| 2021 | 1.56% | 3.29% |
| 2020 | 1.64% | 1.76% |
| 2019 | 2.37% | 3.44% |
| 2018 | 2.05% | 2.91% |
| 2017 | 1.53% | 2.67% |
| 2016 | 2.72% | 2.6% |
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.
Ishares Core Global Aggregate Bond Ucits ETF
Ireland Int Fixed Interest
Vanguard International Credit Securities Index Fund (Hedged)
Australia Int Fixed Interest
New Zealand Government 3.50% 14/04/2033
New Zealand NZ Fixed Interest AAA
New Zealand Government 4.50% 15/05/2030
New Zealand NZ Fixed Interest AA+
New Zealand Government 0.25% 15/05/2028
New Zealand NZ Fixed Interest AAA
New Zealand Government 3.00% 20/04/2029
New Zealand NZ Fixed Interest AAA
New Zealand Government 4.50% 15/05/2035
New Zealand NZ Fixed Interest AAA
New Zealand Government 4.50% 15/04/2027
New Zealand NZ Fixed Interest AA+
New Zealand Government 1.50% 15/05/2031
New Zealand NZ Fixed Interest AAA
New Zealand Government 2.00% 15/05/2032
New Zealand NZ Fixed Interest AAA
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 20.0% | 19.29% |
| New Zealand Fixed Interest | 30.0% | 30.32% |
| International Fixed Interest | 50.0% | 50.39% |
| 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.
