Funds

NZ Defence Force KiwiSaver Moderate Fund

Total Ethical Concerns: 7.03%

The average total concerns of all KiwiSaver balanced funds is 5.99%.

Companies of Concern

  • Animal Cruelty 1.02%

    • Koninklijke Ahold Delhaize Nv
      0.12%
      0.12%
    • Exxon Mobil Corp.
      0.06%
      !!
      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
      0.06%
    • 0.05%
    • Eni Spa
      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
      0.04%
    • Celanese US Holdings Llc
      0.03%
      0.03%
    • Chevron Corp.
      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
      0.03%
    • Colgate-Palmolive Co.
      0.03%
      0.03%
    • FMC Corp.
      0.03%
      0.03%
    • Givaudan Finance Europe Bv
      0.03%
      0.03%
    • Hermès International Sca
      0.03%
      0.03%
    • Shell
      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
      0.03%
    • Tyson Foods Inc
      0.03%
      0.03%
    • Bayer
      0.02%
      0.02%
    • Dupont De Nemours
      0.02%
      0.02%
    • Huntsman Corp.
      0.02%
      0.02%
    • Kering SA
      0.02%
      0.02%
    • Nutrien Ltd.
      0.02%
      0.02%
    • Orbia Advance Corp. Sab De Cv
      0.02%
      0.02%
    • Syngenta
      0.02%
      0.02%
    • The Dow Chemical Co.
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • Air Liquide
      0.01%
      0.01%
    • Ecolab, Inc.
      0.01%
      0.01%
    • L'Oréal SA
      0.01%
      0.01%
    • The Sherwin-Williams Co.
      0.01%
      0.01%
    • Yara International Asa
      0.01%
      0.01%
  • Human Rights Violations 1.39%

    • 0.46%
    • UBS
      0.14%
      0.14%
    • Wells Fargo
      0.13%
      0.13%
    • Rio Tinto
      0.11%
      0.11%
    • General Motors
      0.08%
      0.08%
    • 0.07%
    • Nestlé
      0.07%
      0.07%
    • 0.02%
    • Caterpillar
      0.02%
      0.02%
    • Holcim
      0.02%
      0.02%
    • 0.02%
    • Petrobras
      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
      0.02%
    • 0.02%
    • Petrochina Co Ltd
      0.01%
      !!
      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
      0.01%
    • Saudi Aramco
      0.01%
      !!
      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
      0.01%
    • Zijin Mining
      0.01%
      0.01%
  • Social Harm 0.49%

  • Fossil Fuels 3.9%

    • Contact Energy Ltd.
      0.70%
      1.5°C
      This company is on a 1.5°C pathway
      0.70%
    • National Grid PLC
      0.14%
      !!
      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
      0.14%
    • BP
      0.13%
      !!
      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
      0.13%
    • American Electric Power Co., Inc.
      0.11%
      0.11%
    • Nextera Energy, Inc.
      0.11%
      0.11%
    • Rio Tinto
      0.11%
      0.11%
    • Engie SA
      0.10%
      !!
      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
      0.10%
    • Aker BP Asa
      0.09%
      !!
      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
      0.09%
    • Duke Energy Corp
      0.09%
      0.09%
    • Totalenergies Se
      0.08%
      !!
      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
      0.08%
    • Dominion Energy, Inc.
      0.07%
      0.07%
    • Energy Transfer Lp
      0.07%
      !!
      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
      0.07%
    • Itochu Corp.
      0.07%
      !!
      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
      0.07%
    • Xcel Energy, Inc.
      0.07%
      0.07%
    • Atmos Energy Corp.
      0.06%
      0.06%
    • Enbridge, Inc.
      0.06%
      !!
      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
      0.06%
    • Exxon Mobil Corp.
      0.06%
      !!
      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
      0.06%
    • Occidental Petroleum Corp.
      0.06%
      !!
      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
      0.06%
    • Pg&E Corp
      0.06%
      0.06%
    • Targa Resources Corp.
      0.06%
      0.06%
    • BHP
      0.05%
      !!
      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
      0.05%
    • Consolidated Edison, Inc.
      0.05%
      0.05%
    • Edp-Energias De Portugal SA
      0.05%
      1.5°C
      This company is on a 1.5°C pathway
      0.05%
    • The Williams Cos., Inc.
      0.05%
      !!
      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
      0.05%
    • Vår Energi Asa
      0.05%
      !!
      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
      0.05%
    • Cez As
      0.04%
      0.04%
    • Conocophillips
      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
      0.04%
    • Eni Spa
      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
      0.04%
    • Fairfax Financial Holdings Ltd.
      0.04%
      0.04%
    • Oneok, Inc.
      0.04%
      0.04%
    • Canadian Natural Resources 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
      0.03%
    • Cheniere Energy, Inc.
      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
      0.03%
    • Chevron Corp.
      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
      0.03%
    • Diamondback Energy, Inc.
      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
      0.03%
    • Kinder Morgan, Inc.
      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
      0.03%
    • Mplx Lp
      0.03%
      0.03%
    • Nrg Energy, Inc.
      0.03%
      0.03%
    • OMV AG
      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
      0.03%
    • Pinnacle West Capital Corp.
      0.03%
      0.03%
    • Portland General Electric Co.
      0.03%
      0.03%
    • Rwe AG
      0.03%
      0.03%
    • Sempra Energy
      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
      0.03%
    • Shell
      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
      0.03%
    • Snam Spa
      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
      0.03%
    • Vier Gas Transport Gmbh
      0.03%
      0.03%
    • Western Midstream Partners Lp
      0.03%
      0.03%
    • Wintershall Dea
      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
      0.03%
    • Centerpoint Energy, Inc.
      0.02%
      0.02%
    • Constellation Energy Corp.
      0.02%
      0.02%
    • Enel
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • Enterprise Products Partners Lp
      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
      0.02%
    • Galaxy Pipeline Assets Bidco Ltd.
      0.02%
      0.02%
    • 0.02%
    • Jefferies
      0.02%
      0.02%
    • Pacificorp.
      0.02%
      0.02%
    • Petrobras
      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
      0.02%
    • Barrick Gold
      0.01%
      0.01%
    • Cenovus Energy, Inc.
      0.01%
      !!
      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
      0.01%
    • Channel Infrastructure
      0.01%
      0.01%
    • Delta Air Lines, Inc.
      0.01%
      0.01%
    • Ep Infrastructure As
      0.01%
      0.01%
    • National Grid North America, Inc.
      0.01%
      !!
      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
      0.01%
    • Petrochina Co Ltd
      0.01%
      !!
      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
      0.01%
    • Repsol
      0.01%
      !!
      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
      0.01%
    • Saudi Aramco
      0.01%
      !!
      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
      0.01%
    • Suncor Energy, Inc.
      0.01%
      !!
      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
      0.01%
    • The Southern Co.
      0.01%
      0.01%
    • The Weir Group PLC
      0.01%
      0.01%
    • Électricité De France SA
      0.01%
      0.01%
  • Weapons 0.35%

    • Amphenol Corp.
      0.10%
      0.10%
    • Mtu Aero Engines AG
      0.09%
      0.09%
    • Dassault Aviation SA
      0.04%
      0.04%
    • Rheinmetall AG
      0.04%
      0.04%
    • 0.02%
    • Howmet Aerospace, Inc.
      0.01%
      0.01%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm 0.77%

    • Duke Energy Corp
      0.09%
      0.09%
    • Coca-Cola
      0.07%
      0.07%
    • Energy Transfer Lp
      0.07%
      !!
      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
      0.07%
    • Pg&E Corp
      0.06%
      0.06%
    • BHP
      0.05%
      !!
      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
      0.05%
    • PepsiCo
      0.05%
      0.05%
    • Chevron Corp.
      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
      0.03%
    • 0.03%
    • FMC Corp.
      0.03%
      0.03%
    • Shell
      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
      0.03%
    • Bayer
      0.02%
      0.02%
    • Danone
      0.02%
      0.02%
    • 0.02%
    • Mondelez
      0.02%
      0.02%
    • Nutrien Ltd.
      0.02%
      0.02%
    • Syngenta
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • Barrick Gold
      0.01%
      0.01%
    • Zijin Mining
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    About this Fund

    Invests mainly in defensive assets such as fixed interest and cash, with about 40% invested 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 $9.62M NZD
    Period of data report 31st March 2025
    Members 477
    Fund started 9th Oct. 2015
    Total annual fund fees 0.79%
    Total performance based fees 0.0%
    Manager's basic fee 0.58%
    Other management and administration charges 0.21%
    Total other charges 0.0
    Total other charges currency NZD

    Ross Butler

    Currently: Chair - Mercer (N.Z.) Ltd (1 years, 11 months)
    Previously: Director Investments (Australia) Limited (current) (10 years, 4 months)

    Martin Lewington

    Currently: CEO - Mercer (N.Z.) Ltd (16 years, 1 months)
    Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

    Kylie Willment

    Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (7 years, 5 months)
    Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)

    Padraig Brown

    Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (2 years, 10 months)
    Previously: Head of Real Estate Investment Management, Mercer Australia (Pty) Ltd (11 years, 2 months)

    David Scobie

    Currently: Principal Investments, New Zealand - Mercer (N.Z.) Ltd (1 years, 8 months)
    Previously: Principal Advisor, Capital Markets, The Treasury, New Zealand (1 years, 5 months)

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    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
    2025 4.34% 4.43%
    2024 10.86% 6.91%
    2023 -2.79% -2.69%
    2022 1.34% 0.76%
    2021 17.98% 11.34%
    2020 -1.40% -0.66%
    2019 5.81% 3.89%
    2018 5.28% 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 31st March 2025.

  • Investments

    Top 10 Investments

    • Robeco Global Credits Fund

      Luxembourg Int Fixed Interest

      4.74%
    • Housing New Zealand Limited Bond 3.36% 12/06/2025

      New Zealand Cash and Equivalents AA-

      2.09%
    • Fisher & Paykel Healthcare Corporation Limited

      New Zealand Australasian Equities

      1.55%
    • New Zealand Local Government Funding Agency Bond 2.75% 15/04/2025

      New Zealand Cash and Equivalents AAA

      1.35%
    • First Sentier Global Listed Infrastructure Fund

      New Zealand Other

      1.22%
    • New Zealand Government Bond 3.50% 14/04/2033

      New Zealand Int Fixed Interest AAA

      1.1%
    • Auckland Council Promissory Note 17/04/2025

      New Zealand Cash and Equivalents AA

      1.1%
    • New Zealand Government Bond 4.50% 15/05/2035

      New Zealand NZ Fixed Interest AAA

      1.1%
    • New Zealand Government Bond 1.50% 15/05/2031

      New Zealand NZ Fixed Interest AAA

      1.05%
    • New Zealand Government Bond 2.75% 15/04/2037

      New Zealand NZ Fixed Interest AAA

      1.02%
    Type Target Actual
    Cash and Cash Equivalents 16.0% 16.92%
    New Zealand Fixed Interest 13.0% 14.32%
    International Fixed Interest 31.0% 30.87%
    Australasian Equities 10.5% 10.03%
    International Equities 25.5% 23.74%
    Listed Properties 2.0% 2.2%
    Unlisted Properties 0.0% 0.0%
    Other 2.0% 1.92%
    Commodities 0.0% 0.0%

    Investment Mix

    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.

Issues of Concern

  • 1.02% Animal Cruelty
  • 1.39% Human Rights Violations
  • 0.49% Social Harm
  • 3.9% Fossil Fuels
  • 0.35% Weapons
  • 0.77% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • Koninklijke Ahold Delhaize Nv
      0.12%
      0.12%
    • Exxon Mobil Corp.
      0.06%
      !!
      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
      0.06%
    • 0.05%
    • Eni Spa
      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
      0.04%
    • Celanese US Holdings Llc
      0.03%
      0.03%
    • Chevron Corp.
      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
      0.03%
    • Colgate-Palmolive Co.
      0.03%
      0.03%
    • FMC Corp.
      0.03%
      0.03%
    • Givaudan Finance Europe Bv
      0.03%
      0.03%
    • Hermès International Sca
      0.03%
      0.03%
    • Shell
      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
      0.03%
    • Tyson Foods Inc
      0.03%
      0.03%
    • Bayer
      0.02%
      0.02%
    • Dupont De Nemours
      0.02%
      0.02%
    • Huntsman Corp.
      0.02%
      0.02%
    • Kering SA
      0.02%
      0.02%
    • Nutrien Ltd.
      0.02%
      0.02%
    • Orbia Advance Corp. Sab De Cv
      0.02%
      0.02%
    • Syngenta
      0.02%
      0.02%
    • The Dow Chemical Co.
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • Air Liquide
      0.01%
      0.01%
    • Ecolab, Inc.
      0.01%
      0.01%
    • L'Oréal SA
      0.01%
      0.01%
    • The Sherwin-Williams Co.
      0.01%
      0.01%
    • Yara International Asa
      0.01%
      0.01%
  • Human Rights Violations

    • 0.46%
    • UBS
      0.14%
      0.14%
    • Wells Fargo
      0.13%
      0.13%
    • Rio Tinto
      0.11%
      0.11%
    • General Motors
      0.08%
      0.08%
    • 0.07%
    • Nestlé
      0.07%
      0.07%
    • 0.02%
    • Caterpillar
      0.02%
      0.02%
    • Holcim
      0.02%
      0.02%
    • 0.02%
    • Petrobras
      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
      0.02%
    • 0.02%
    • Petrochina Co Ltd
      0.01%
      !!
      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
      0.01%
    • Saudi Aramco
      0.01%
      !!
      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
      0.01%
    • Zijin Mining
      0.01%
      0.01%
  • Fossil Fuels

    • Contact Energy Ltd.
      0.70%
      1.5°C
      This company is on a 1.5°C pathway
      0.70%
    • National Grid PLC
      0.14%
      !!
      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
      0.14%
    • BP
      0.13%
      !!
      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
      0.13%
    • American Electric Power Co., Inc.
      0.11%
      0.11%
    • Nextera Energy, Inc.
      0.11%
      0.11%
    • Rio Tinto
      0.11%
      0.11%
    • Engie SA
      0.10%
      !!
      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
      0.10%
    • Aker BP Asa
      0.09%
      !!
      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
      0.09%
    • Duke Energy Corp
      0.09%
      0.09%
    • Totalenergies Se
      0.08%
      !!
      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
      0.08%
    • Dominion Energy, Inc.
      0.07%
      0.07%
    • Energy Transfer Lp
      0.07%
      !!
      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
      0.07%
    • Itochu Corp.
      0.07%
      !!
      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
      0.07%
    • Xcel Energy, Inc.
      0.07%
      0.07%
    • Atmos Energy Corp.
      0.06%
      0.06%
    • Enbridge, Inc.
      0.06%
      !!
      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
      0.06%
    • Exxon Mobil Corp.
      0.06%
      !!
      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
      0.06%
    • Occidental Petroleum Corp.
      0.06%
      !!
      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
      0.06%
    • Pg&E Corp
      0.06%
      0.06%
    • Targa Resources Corp.
      0.06%
      0.06%
    • BHP
      0.05%
      !!
      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
      0.05%
    • Consolidated Edison, Inc.
      0.05%
      0.05%
    • Edp-Energias De Portugal SA
      0.05%
      1.5°C
      This company is on a 1.5°C pathway
      0.05%
    • The Williams Cos., Inc.
      0.05%
      !!
      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
      0.05%
    • Vår Energi Asa
      0.05%
      !!
      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
      0.05%
    • Cez As
      0.04%
      0.04%
    • Conocophillips
      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
      0.04%
    • Eni Spa
      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
      0.04%
    • Fairfax Financial Holdings Ltd.
      0.04%
      0.04%
    • Oneok, Inc.
      0.04%
      0.04%
    • Canadian Natural Resources 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
      0.03%
    • Cheniere Energy, Inc.
      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
      0.03%
    • Chevron Corp.
      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
      0.03%
    • Diamondback Energy, Inc.
      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
      0.03%
    • Kinder Morgan, Inc.
      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
      0.03%
    • Mplx Lp
      0.03%
      0.03%
    • Nrg Energy, Inc.
      0.03%
      0.03%
    • OMV AG
      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
      0.03%
    • Pinnacle West Capital Corp.
      0.03%
      0.03%
    • Portland General Electric Co.
      0.03%
      0.03%
    • Rwe AG
      0.03%
      0.03%
    • Sempra Energy
      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
      0.03%
    • Shell
      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
      0.03%
    • Snam Spa
      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
      0.03%
    • Vier Gas Transport Gmbh
      0.03%
      0.03%
    • Western Midstream Partners Lp
      0.03%
      0.03%
    • Wintershall Dea
      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
      0.03%
    • Centerpoint Energy, Inc.
      0.02%
      0.02%
    • Constellation Energy Corp.
      0.02%
      0.02%
    • Enel
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • Enterprise Products Partners Lp
      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
      0.02%
    • Galaxy Pipeline Assets Bidco Ltd.
      0.02%
      0.02%
    • 0.02%
    • Jefferies
      0.02%
      0.02%
    • Pacificorp.
      0.02%
      0.02%
    • Petrobras
      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
      0.02%
    • Barrick Gold
      0.01%
      0.01%
    • Cenovus Energy, Inc.
      0.01%
      !!
      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
      0.01%
    • Channel Infrastructure
      0.01%
      0.01%
    • Delta Air Lines, Inc.
      0.01%
      0.01%
    • Ep Infrastructure As
      0.01%
      0.01%
    • National Grid North America, Inc.
      0.01%
      !!
      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
      0.01%
    • Petrochina Co Ltd
      0.01%
      !!
      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
      0.01%
    • Repsol
      0.01%
      !!
      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
      0.01%
    • Saudi Aramco
      0.01%
      !!
      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
      0.01%
    • Suncor Energy, Inc.
      0.01%
      !!
      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
      0.01%
    • The Southern Co.
      0.01%
      0.01%
    • The Weir Group PLC
      0.01%
      0.01%
    • Électricité De France SA
      0.01%
      0.01%
  • Weapons

    • Amphenol Corp.
      0.10%
      0.10%
    • Mtu Aero Engines AG
      0.09%
      0.09%
    • Dassault Aviation SA
      0.04%
      0.04%
    • Rheinmetall AG
      0.04%
      0.04%
    • 0.02%
    • Howmet Aerospace, Inc.
      0.01%
      0.01%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm

    • Duke Energy Corp
      0.09%
      0.09%
    • Coca-Cola
      0.07%
      0.07%
    • Energy Transfer Lp
      0.07%
      !!
      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
      0.07%
    • Pg&E Corp
      0.06%
      0.06%
    • BHP
      0.05%
      !!
      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
      0.05%
    • PepsiCo
      0.05%
      0.05%
    • Chevron Corp.
      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
      0.03%
    • 0.03%
    • FMC Corp.
      0.03%
      0.03%
    • Shell
      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
      0.03%
    • Bayer
      0.02%
      0.02%
    • Danone
      0.02%
      0.02%
    • 0.02%
    • Mondelez
      0.02%
      0.02%
    • Nutrien Ltd.
      0.02%
      0.02%
    • Syngenta
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • Barrick Gold
      0.01%
      0.01%
    • Zijin Mining
      0.01%
      0.01%

About this Fund

Invests mainly in defensive assets such as fixed interest and cash, with about 40% invested 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 $9.62M NZD
Period of data report 31st March 2025
Members 477
Fund started 9th Oct. 2015
Total annual fund fees 0.79%
Total performance based fees 0.0%
Manager's basic fee 0.58%
Other management and administration charges 0.21%
Total other charges 0.0
Total other charges currency NZD

Ross Butler

Currently: Chair - Mercer (N.Z.) Ltd (1 years, 11 months)
Previously: Director Investments (Australia) Limited (current) (10 years, 4 months)

Martin Lewington

Currently: CEO - Mercer (N.Z.) Ltd (16 years, 1 months)
Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

Kylie Willment

Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (7 years, 5 months)
Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)

Padraig Brown

Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (2 years, 10 months)
Previously: Head of Real Estate Investment Management, Mercer Australia (Pty) Ltd (11 years, 2 months)

David Scobie

Currently: Principal Investments, New Zealand - Mercer (N.Z.) Ltd (1 years, 8 months)
Previously: Principal Advisor, Capital Markets, The Treasury, New Zealand (1 years, 5 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

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
2025 4.34% 4.43%
2024 10.86% 6.91%
2023 -2.79% -2.69%
2022 1.34% 0.76%
2021 17.98% 11.34%
2020 -1.40% -0.66%
2019 5.81% 3.89%
2018 5.28% 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 31st March 2025.

Top 10 Investments

  • Robeco Global Credits Fund

    Luxembourg Int Fixed Interest

    4.74%
  • Housing New Zealand Limited Bond 3.36% 12/06/2025

    New Zealand Cash and Equivalents AA-

    2.09%
  • Fisher & Paykel Healthcare Corporation Limited

    New Zealand Australasian Equities

    1.55%
  • New Zealand Local Government Funding Agency Bond 2.75% 15/04/2025

    New Zealand Cash and Equivalents AAA

    1.35%
  • First Sentier Global Listed Infrastructure Fund

    New Zealand Other

    1.22%
  • New Zealand Government Bond 3.50% 14/04/2033

    New Zealand Int Fixed Interest AAA

    1.1%
  • Auckland Council Promissory Note 17/04/2025

    New Zealand Cash and Equivalents AA

    1.1%
  • New Zealand Government Bond 4.50% 15/05/2035

    New Zealand NZ Fixed Interest AAA

    1.1%
  • New Zealand Government Bond 1.50% 15/05/2031

    New Zealand NZ Fixed Interest AAA

    1.05%
  • New Zealand Government Bond 2.75% 15/04/2037

    New Zealand NZ Fixed Interest AAA

    1.02%
Type Target Actual
Cash and Cash Equivalents 16.0% 16.92%
New Zealand Fixed Interest 13.0% 14.32%
International Fixed Interest 31.0% 30.87%
Australasian Equities 10.5% 10.03%
International Equities 25.5% 23.74%
Listed Properties 2.0% 2.2%
Unlisted Properties 0.0% 0.0%
Other 2.0% 1.92%
Commodities 0.0% 0.0%

Investment Mix

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.