Lifestages KiwiSaver Scheme

Not Mindful

Type: Defensive 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

BP Capital Markets PLC 144(A) 0.14%
Coca-Cola Co/The 0.750000% 03/09/2023 0.04%
E.On Se 0% 10/24/2022 0.06%
Electricite De France SA 2.250000% 04/27/2021 0.02%
Enel Finance Intl Nv 2.875000% 05/25/2022 0.02%
Equinor Asa 0.875000% 02/17/2023 0.21%
Evergy Inc 4.850000% 06/01/2021 0.11%
Genesis Energy Limited 03/04/2025 5.00% 0.12%
Genesis Energy Limited 08/03/2023 5.81% 0.09%
Genesis Energy Limited 20/07/2022 1.32% 0.05%
Kinder Morgan Ener Part 4.150000% 03/01/2022 0.02%
Mplx Lp 4.500000% 07/15/2023 0.09%
Southern Power Co 1.000000% 06/20/2022 0.08%
Total Capital Intl SA 2.125000% 11/19/2021 0.02%
Total Capital Intl SA 2.750000% 06/19/2021 0.03%
Total Capital Intl SA 4.250000% 11/26/2021 0.05%
Williams Companies Inc 3.350000% 08/15/2022 0.02%

Weapons

Tobacco

Gambling

Alcohol

Pernod Ricard SA 4.450000% 01/15/2022 0.02%

Palm Oil

Human Rights & Environmental Violations

Sempra Energy 0.700380% 03/15/2021 0.02%

Animal Testing

Coca-Cola Co/The 0.750000% 03/09/2023 0.040%
Eastman Chemical Co 1.500000% 05/26/2023 0.120%
Glaxosmithkline Capital 0.125000% 05/12/2023 0.010%
Kellogg Co 1.750000% 05/24/2021 0.090%
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 Wed Sept. 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, Sustainalytics and research organisations.

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
2020	1.56%	2.0%
2019	2.36%	2.37%
2018	2.10%	0.45%
2017	1.65%	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 Wed Sept. 30th 2020.

Showing the top 10 investments for this fund:

Ishares Global Aggregate Bond Ucits ETF NZD Hedged
Ireland Int Fixed Interest

37.28%
Harbour NZ Core Fixed Interest Fund
New Zealand NZ Fixed Interest

24.88%
Dimensional Two-Year Diversified Fixed Interest Trust - NZD Class Units
Australia Int Fixed Interest

17.81%
Cash Deposit (ANZ Bank)
New Zealand Cash and Equivalents

4.91%
Vanguard Ethically Conscious Global Aggregate Bond Index Fund (Hedged)-NZD Hedged
Australia Int Fixed Interest

4.03%
Southland Building Society Term Deposit Maturity 22/10/20
New Zealand Cash and Equivalents BBB

1.82%
Kiwibank Term Deposit Maturity 21/09/22
New Zealand Cash and Equivalents AA

1.79%
Southland Building Society Term Deposit Maturity 21/12/20
New Zealand Cash and Equivalents BBB

1.36%
Southland Building Society Term Deposit Maturity 20/07/21
New Zealand Cash and Equivalents BBB

1.34%
Southland Building Society Term Deposit Maturity 24/05/21
New Zealand Cash and Equivalents BBB

1.33%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Wed Sept. 30th 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%	16.0%
New Zealand Fixed Interest	25.0%	24.88%
International Fixed Interest	60.0%	59.12%
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 Wed Sept. 30th 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:

0.15%
Animal Testing:

0.80%
Fossil Fuels:

2.00%
Gambling:

0.01%
GMOs:

0.00%
Human Rights & Environmental Violations:

0.17%
Palm Oil:

0.01%
Tobacco:

0.10%
Weapons:

0.12%

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."

Value	$110M NZD
Period of data report	Wed Sept. 30th 2020
Members	8,059
Fund started	Wed Oct. 14th 2015
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

Graham Duston	Currently: Investment Committee member (19 years, 0 months) Previously: Chief Executive Officer Funds Administration New Zealand Ltd (current) (19 years, 0 months)
Damon O'Brien	Currently: Independent Investment Committee member (5 years, 5 months) Previously: Chief Investment Officer Consilium Limited (8 years, 6 months)
Martin Pike	Currently: Investment Strategist (5 years, 0 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, 4 months) Previously: GM Business Financial Services & Private Banking BNZ (8 years, 0 months)
Derek Young	Currently: Investment Committee member (16 years, 3 months) Previously: Executive Director Funds Administration New Zealand Ltd (current) (16 years, 3 months)

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

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v

Lifestages Income Fund