NZ Defence Force Moderate Fund

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Fund type: Balanced fund

Past Returns: 4.86%

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

Annual Fees: 0.93%

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

1.500 BHP Billiton Finance Ltd 29-Apr-20 0.02%
3.500 Apt Pipelines Ltd 22-Mar-2030 0.02%
3.750 Aker BP Asa 15-Jan-2030 0.01%
Aker BP Asa 1.125% Snr 12/05/2029 EUR 0.01%
Anglo American PLC 0.02%
Apt Pipelines Ltd 4.25% Due 07-15-2027 0.02%
Atlantia Spa 0.04%
Atmos Energy Corp 0.05%
BHP Group Limited Ordinary Fully Paid 0.05%
BHP Group PLC 0.05%
BP Cap Mkts Amer Fixed 3.017% Due 01-16-2027 0.02%
BP P.L.C 0.03%
Cheniere Energy Inc 0.03%
Coca Cola Co USD 0.04%
Coca-Cola Co Fixed 1% Due 03-09-2041 0.01%
Dominion Energy Inc 0.08%
Enbridge Inc 0.05%
Eni Spa 0.04%
Enterprise Products Partners Lp 0.02%
Equinor Asa 2.375% Due 05-22-2030 Reg 0.02%
Exxon Mobil Corp 2.61% Due 10-15-2030 0.01%
Gazprom PJSC-Spon Adr 0.01%
Kinder Morgan Inc 1.5% Due 03-16-2022 0.01%
Koninklijke Vopak Nv 0.01%
Marathon Petrol Com 0.03%
Mitsui & Co Ltd Jpy 0.04%
Naturgy Finance B. 1.5% Gtd Snr 29/01/2028 EUR 0.01%
OMV AG 0.03%
Pembina Pipeline 0.03%
Ptt Public Company Thb10 0.01%
Public Power Corp 0.01%
Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.02%
Repsol SA 0.01%
Royal Dutch Shell PLC-B Shs 0.02%
Rubis Eur1.25 0.05%
Snam Spa 0.02%
Snam Spa 1% Snr Emtn 12/09/2034 EUR 0.01%
Tokyo Gas Co Ltd 0.01%
Vale SA 0.02%
Viva Energy Group Ordinary Fully Paid Deferred Settlement 0.01%

Weapons

Tobacco

Alimentation Couche-Tard 2.95% Due 01-25-2030 Beo 0.01%
Casey'S General Stores Inc 0.02%

Gambling

Red Rock Resorts Inc 0.01%
Skycity Entertainment Group Limited 0.16%
Vici Properties Inc 0.02%

Alcohol

3.700 Anheuser-Busch Inbev SA/ 02-Apr-20 0.03%
Anheuser-Busch Cos Llc Corp 4.7% 02-01-2036 0.02%
Constellation Brands Inc-A 0.03%
LVMH Moet Hennessy 1.125% Snr 11/02/2027Gbp 0.01%
Metcash Limited 0.04%

Human Rights & Environmental Violations

0.606 Nestle Holdings Inc 14-Sep-2024 0.03%
0.950 Johnson & Johnson 01-Sep-2027 0.01%
1.500 BHP Billiton Finance Ltd 29-Apr-20 0.02%
BHP Group Limited Ordinary Fully Paid 0.05%
BHP Group PLC 0.05%
Duke Energy Corp Com USD 0.001 Post Rev Splt 0.02%
Evergreen Marine Corporation 0.04%
Formosa Plastics Corporation 0.01%
Johnson & Johnson Com US$1 0.10%
Johnson + Johnson Common Stock Usd1.0 0.02%
Motorola Solutions Inc 0.14%
Nestle SA 0.07%
Rio Tinto Fin Usa 5.2 Due 11-02-2040 0.02%
Rio Tinto PLC Ord 10P Gbp 0.03%
Royal Dutch Shell PLC-B Shs 0.02%
Vale SA 0.02%

Animal Testing

0.500 Dow Chemical Co/The 15-Mar-2027 0.02%
0.606 Nestle Holdings Inc 14-Sep-2024 0.02%
0.950 Johnson & Johnson 01-Sep-2027 0.01%
1.100 Linde Inc/Ct 10-Aug-2030 0.01%
1.875 Orbia Advance Corp Sab 11-May-2026 0.02%
Air Water Inc 0.03%
Capri Holdings Ltd Com Npv 0.02%
Church & Dwight Co 0.02%
Coca Cola Co USD 0.04%
Coca-Cola Co Fixed 1% Due 03-09-2041 0.01%
Croda International PLC Common Stock Gbp.1060976 0.02%
Dow Inc 0.04%
Ecolab Inc Common Stock Usd1.0 0.06%
Ecolab Ltd 0.02%
Estee Lauder Companies Cl A Common Stock USD.01 0.03%
Far Eastern New Century Corporation 0.02%
Formosa Plastics Corporation 0.01%
Glaxosmithkline 6.375% Due 05-15-2038 0.02%
Glaxosmithkline PLC 0.02%
Hermes International 0.02%
Icl Group Ltd 0.02%
Intl Flavors & Fragrances USD 0.05%
Johnson & Johnson Com US$1 0.10%
Johnson + Johnson Common Stock Usd1.0 0.02%
Kellogg Company 0.02%
Kerry Group PLC A Common Stock EUR.125 0.01%
Kimberly Clark 6.625% Due 08-01-2037 0.01%
Kimberly Clark Corp Com Usd1.25 0.02%
Koninklijke Dsm Nv Common Stock Eur1.5 0.03%
L Oreal Common Stock EUR.2 0.01%
LVMH Moet Hennessy 1.125% Snr 11/02/2027Gbp 0.01%
Linde Finance Bv 0.25% Gtd Snr 19/05/27 EUR 0.01%
Linde PLC Common Stock EUR.001 0.02%
Mondelez International Inc 0.02%
Nagase & Co Ltd 0.01%
Nan Ya Plastics Corp 0.01%
Nestle SA 0.07%
Nissan Chemical Corporation 0.01%
Nisshinbo Holdings Inc 0.01%
Pepsico Inc Cap US$0.01 2/3 0.05%
Praxair Inc Nt 2% 08-10-2050 0.01%
Procter & Gamble Company 0.10%
Procter + Gamble Co/The Common Stock 0.01%
Pvtpl Air Liquide Fin S A Fixed 2.25% 09-10-2029 0.01%
Royal Dutch Shell PLC-B Shs 0.02%
Sherwin Williams Com Usd1 0.01%
Symrise AG Common Stock 0.02%

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% 11.34%
2020 -1.20% -0.66%
2019 5.69% 3.89%
2018 5.19% 4.54%
2017 5.86% 4.64%

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:

  • Robeco Global Credit Fund
    Australia Int Fixed Interest
    3.39%
  • Bank Of New Zealand Rcd Maturing 01/03/2022
    New Zealand Cash and Equivalents AA-
    1.26%
  • First Sentier Global Listed Infrastructure Fund
    New Zealand Other
    1.2%
  • New Zealand Government Bond 5.5% 15/04/2023
    New Zealand NZ Fixed Interest AAA
    1.06%
  • New Zealand Government Bond 3.0% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    1.01%
  • Westpac Business Interest Account
    New Zealand Cash and Equivalents AA-
    1.0%
  • Fisher & Paykel Healthcare Corporation Limited
    New Zealand Australasian Equities
    0.99%
  • New Zealand Government Bond 0.25% 15/05/2028
    New Zealand NZ Fixed Interest AAA
    0.92%
  • Housing New Zealand Ltd Bond 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AAA
    0.84%
  • New Zealand Government Bond 1.75% 15/05/2041
    New Zealand NZ Fixed Interest AAA
    0.84%

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 18.0% 20.85%
New Zealand Fixed Interest 13.0% 11.27%
International Fixed Interest 29.0% 27.93%
Australasian Equities 9.5% 8.28%
International Equities 22.5% 23.24%
Listed Properties 2.0% 2.08%
Unlisted Properties 2.0% 1.21%
Other 4.0% 4.64%
Commodities 0.0% 0.5%

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:
    0.21%
  • Animal Testing:
    1.57%
  • Fossil Fuels:
    1.57%
  • Gambling:
    0.21%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.73%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.04%
  • Weapons:
    0.01%

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

"Invests in cash and fixed interest with about a third of investments being in growth assets such as shares and real assets. May be suitable for investors who want to invest in a broad mix of assets and who are comfortable with a higher degree of volatility in returns than can be expected from the Conservative fund."

Value $7.2M NZD
Period of data report Fri Dec. 31st 2021
Members 503
Fund started Fri Oct. 9th 2015
Total annual fund fees 0.93%
Total performance based fees 0.0%
Manager's basic fee 0.58%
Other management and administration charges 0.35%
Total other charges 27.0
Total other charges currency NZD

Key Personnel

Kristen Kohere-Soutar

Currently: Chair - Mercer (N.Z.) Ltd (2 years, 1 months)
Previously: Director - Mercer (N.Z.) Ltd (current) (4 years, 4 months)

Martin Lewington

Currently: CEO - Mercer (N.Z.) Ltd (12 years, 10 months)
Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

Kylie Willment

Currently: Chief Investment Officer Pacific Mercer Australia (Pty) Ltd (4 years, 2 months)
Previously: Senior Manager Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)

Ronan Mccabe

Currently: Chief Investment Officer - New Zealand Mercer (N.Z.) Ltd (1 years, 4 months)
Previously: Head of Portfolio Management Delegated Solutions Pacific Mercer Australia (Pty) Ltd (current) (2 years, 9 months)

Robert Kavanagh

Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (7 years, 9 months)
Previously: Vice President - Account Management PIMCO Australia Pty Limited (7 years, 0 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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You should be prudent about your investment.

Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital invested. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Markets Conduct Act 2013 and any associated regulations.

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.