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Lifestages Income Fund

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Not Mindful
Type: Aggressive fund
Past Returns: 1.61%

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

Annual Fees: 0.88%

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

Total Capital Canada Ltd 1.875000% 07/09/2020 0.16%
Evergy Inc 4.850000% 06/01/2021 0.12%
Total Capital Sa 4.450000% 06/24/2020 0.12%
Equinor Asa 2.000000% 09/10/2020 0.08%
Canadian Natl Resources 2.890000% 08/14/2020 0.05%
Total Capital Intl Sa 2.750000% 06/19/2021 0.03%
Total Capital Intl Sa 2.125000% 11/19/2021 0.02%

Weapons

Tobacco

Gambling

Alcohol

Anheuser-Busch Inbev Sa/ 1.950000% 09/30/2021 0.13%

Palm Oil

GMOs

Human Rights & Environmental Violations

Nestle Finance Intl Ltd 1.250000% 05/04/2020 0.06%

Animal Testing

Nestle Finance Intl Ltd 1.250000% 05/04/2020 0.050%
Procter & Gamble Co/The 4.125000% 12/07/2020 0.020%

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 June 30th 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.

A summary of this fund and its details.

Number FND2871
Name Lifestages Income Fund
Risk profile Aggressive fund
Description The fund aims to provide investors with a low-risk investment option that invests solely in income assets, being cash and fixed interest investments.
Value $100M NZD
Members 7,789
Market index description 60% Bloomberg Barclays Global Aggregate Index Hedged in NZD, 25% S&P/NZX NZ Govt Bond Index, 15% NZX NZ 90 Day Bank Bill Index.
Period of data report Tue June 30th 2020
Fund started Wed Oct. 14th 2015
Three-year average return 1.61%
Market index past year return 4.74%
Past year return net of charges and tax 2.09%
Past year return net of charges gross of tax 3.2%
Market index return since fund started 4.51%
Return since fund started net 2.08%
Total annual fund fees 0.88%
Total performance based fees 0.0%
Manager's basic fee 0.55%
Administration charges 0.33%
Total other charges 24.0
Total other charges currency NZD

Key Personnel

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Damon O'Brien

    Currently: Independent Investment Committee member (5 years, 2 months)
    Previously: Chief Investment Officer, Consilium Limited (8 years, 3 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Derek Young

    Currently: Investment Committee member (16 years, 0 months)
    Previously: Executive Director, Funds Administration New Zealand Ltd (current) (16 years, 0 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Graham Duston

    Currently: Investment Committee member (18 years, 9 months)
    Previously: Chief Executive Officer, Funds Administration New Zealand Ltd (current) (18 years, 9 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Martin Pike

    Currently: Investment Strategist (4 years, 9 months)
    Previously: National Manager, Investment Product & Services, AMP Financial Services (2 years, 4 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

  • Mike Skilling

    Currently: Non-executive Director / Investment Committee chairperson (4 years, 1 months)
    Previously: GM Business Financial Services & Private Banking, BNZ (8 years, 0 months)

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

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 -7.41% 2.0%
2019 10.11% 2.37%
2018 6.68% 0.45%
2017 11.18% 1.5%

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:

  • Ishares Global Aggregate Bond Ucits ETF NZD Hedged
    Ireland Int Fixed Interest
    40.48%
  • Harbour NZ Core Fixed Interest Fund
    New Zealand NZ Fixed Interest
    24.53%
  • Dimensional Two-Year Diversified Fixed Interest Trust – NZD Class Units
    Australia Int Fixed Interest
    18.44%
  • Cash Deposit (ANZ Bank)
    New Zealand Cash and Equivalents
    3.88%
  • Southland Building Society Term Deposit Maturity 061117 22/10/20
    New Zealand Cash and Equivalents BBB
    1.97%
  • Vanguard Ethically Conscious Global Aggregate Bond Index Fund (Hedged)-NZD Hedged
    Australia Int Fixed Interest
    1.95%
  • Southland Building Society Term Deposit Maturity 061117 20/07/20
    New Zealand Cash and Equivalents BBB
    1.5%
  • Southland Building Society Term Deposit Maturity 061117 21/12/20
    New Zealand Cash and Equivalents BBB
    1.47%
  • Southland Building Society Term Deposit Maturity 061117 07/07/20
    New Zealand Cash and Equivalents BBB
    1.0%
  • Southland Building Society Term Deposit Maturity 061117 21/09/20
    New Zealand Cash and Equivalents BBB
    1.0%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 15.0% 14.6%
New Zealand Fixed Interest 25.0% 24.53%
International Fixed Interest 60.0% 60.87%
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%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 June 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:
    0.31%
  • Animal Testing:
    0.58%
  • Fossil Fuels:
    1.22%
  • Gambling:
    0.01%
  • GMOs:
    0.07%
  • Human Rights & Environmental Violations:
    0.23%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.10%
  • Weapons:
    0.13%

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 June 30th 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.

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: "The fund aims to provide investors with a low-risk investment option that invests solely in income assets, being cash and fixed interest investments."

Download the fund's disclosure statement and portfolio holdings.

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