Funds
Westpac Defensive Conservative Fund
Issues of concern
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.
Key:
- Adult Entertainment/Pornography
- Alcohol
- Animal Cruelty
- Fossil Fuels
- Gambling
- GMOs
- Human Rights & Environmental Violations
- Palm Oil
- Tobacco
- Weapons
Companies of concern
Fossil Fuel
- Contact Energy Ltd 0.27%
- Israel Electric Corp. Ltd. 6.875% 21-Jun-2023 0.08%
- Sempra Energy 3.3% 01-Apr-2025 0.07%
- Consolidated Edison Company Of New York, Inc. 2.4% 15-Jun-2031 0.04%
- National Grid PLC 0.25% 01-Sep-2028 0.04%
- Public Service Enterprise Group Incorporated 0.841% 08-Nov-2023 0.04%
- BHP Group Ltd 0.03%
- Southern Company 3.25% 01-Jul-2026 0.03%
- Anglo American Capital PLC 4.0% 11-Sep-2027 0.02%
- Anglo American Capital PLC 4.75% 10-Apr-2027 0.02%
- Anglo American Capital PLC 4.75% 21-Sep-2032 0.02%
- Anglo American PLC C 0.02%
- Enel Finance International Nv 0.5% 17-Jun-2030 0.02%
- South32 Treasury Ltd. 4.35% 14-Apr-2032 0.02%
- Xcel Energy Inc. 4.0% 15-Jun-2028 0.02%
- American Electric Power Company, Inc. 0.01%
- Anglo American Capital PLC 2.875% 17-Mar-2031 0.01%
- Atmos Energy Corporation 0.01%
- Ck Asset Holdings Limited 0.01%
- Enel Finance International Nv 2.25% 12-Jul-2031 0.01%
- Itochu Corporation 0.01%
- Loews Corporation 0.01%
- National Grid PLC 2.949% 30-Mar-2030 0.01%
- Parkland Corporation 0.01%
- Sumitomo Chemical Co., Ltd. 0.01%
Weapons
- Amphenol Corporation Class A 0.03%
- Wal-Mart De Mexico Sab De Cv 0.03%
Gambling
- Sky City Entertainment Group 0.06%
- Vici Properties Inc 0.02%
- Vici Properties Lp 4.95% 15-Feb-2030 0.02%
- Vici Properties Lp 5.125% 15-May-2032 0.02%
- Vici Properties Lp 5.625% 15-May-2052 0.02%
- Greek Organisation Of Football Prognostics SA 0.01%
Alcohol
- Diageo PLC 0.06%
- Anheuser-Busch Inbev Worldwide, Inc. 4.0% 13-Apr-2028 0.04%
- Pernod Ricard SA 0.04%
- Anheuser-Busch Inbev Worldwide, Inc. 3.5% 01-Jun-2030 0.03%
- Heineken Nv 0.03%
- Anheuser-Busch Inbev SA/Nv 3.7% 02-Apr-2040 0.02%
- Carlsberg As Class B 0.01%
- Treasury Wine Estates Ltd 0.01%
Human Rights & Environmental Violations
- Thermo Fisher Scientific Inc. 0.08%
- Credit Suisse Group AG 1.25% 17-Jul-2025 0.07%
- Nestle S.A. 0.07%
- Johnson & Johnson 0.05%
- Nutrien Ltd 0.05%
- Thermo Fisher Scientific Inc. 0.125% 01-Mar-2025 0.05%
- Bayer AG 0.04%
- Credit Suisse Group AG 2.875% 02-Apr-2032 0.04%
- Meta Platforms, Inc. 4.45% 15-Aug-2052 0.04%
- BHP Group Ltd 0.03%
- Credit Suisse Group AG 6.537% 12-Aug-2033 0.03%
- Meta Platforms Inc. Class A 0.03%
- Meta Platforms, Inc. 4.65% 15-Aug-2062 0.03%
- Archer-Daniels-Midland Company 0.02%
- Credit Suisse Group AG 3.091% 14-May-2032 0.02%
- Credit Suisse Group AG 9.75% Perp 0.02%
- Rio Tinto Ltd 0.02%
- Bunge Limited 0.01%
- Freeport-Mcmoran, Inc. 0.01%
- Thermo Fisher Scientific (Finance I) Bv 0.8% 18-Oct-2030 0.01%
Animal Cruelty
- LVMH Moet Hennessy Louis Vuitton Se 0.05%
- Mondelez International, Inc. 1.625% 08-Mar-2027 0.05%
- Nutrien Ltd 0.05%
- 3M Company 0.04%
- Bayer AG 0.04%
- Colgate-Palmolive Company 0.04%
- Compagnie Financiere Richemont SA 0.04%
- Danone SA 0.04%
- Pepsico, Inc. 0.04%
- Procter & Gamble Company 0.04%
- Air Liquide SA 0.03%
- Essity Ab Class B 0.03%
- International Flavors & Fragrances Inc. 1.23% 01-Oct-2025 0.03%
- Keurig Dr Pepper Inc. 4.5% 15-Apr-2052 0.03%
- L'Oreal S.A. 0.03%
- Pepsico, Inc. 3.6% 18-Feb-2028 0.03%
- Archer-Daniels-Midland Company 0.02%
- Coca-Cola Company 0.02%
- Estee Lauder Companies Inc. Class A 0.02%
- General Mills, Inc. 0.02%
- International Flavors & Fragrances Inc. 0.02%
- Mosaic Company 0.02%
- PPG Industries, Inc. 0.02%
- Sherwin-Williams Company 0.02%
- Sherwin-Williams Company 4.25% 08-Aug-2025 0.02%
- Unilever PLC 0.02%
- Akzo Nobel N.V. 0.01%
- Burberry Group PLC 0.01%
- Dow, Inc. 0.01%
- Kellogg Company 0.01%
- Mondelez International, Inc. Class A 0.01%
- Prada S.P.A. 0.01%
- Sumitomo Chemical Co., Ltd. 0.01%
- Ultrapar Participacoes S.A. Sponsored Adr 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 30th Sept. 2022 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.
About this fund
In their own words
The Defensive Conservative Fund aims to provide stable returns over the short to medium term. The fund invests primarily in income assets but also has a 20% benchmark allocation to growth assets. Volatility is expected to be higher than the Cash Fund but lower than the Conservative Fund in the Westpac KiwiSaver Scheme.
| Value | $220M NZD |
| Period of data report | 31st Dec. 2022 |
| Members | 15,518 |
| Fund started | 2nd July 2014 |
| Total annual fund fees | 0.39% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.34% |
| Other management and administration charges | 0.05% |
| Total other charges | 5.9 |
| Total other charges currency | NZD |
Key Personnel
|
Nigel Jackson |
Currently: Chief Executive Officer – BT Funds Management (NZ) Limited (0 years, 5 months) |
|
Philip Houghton-Brown |
Currently: Head of Investment Solutions (2 years, 3 months) |
|
Francois Richeboeuf |
Currently: Senior Manager (12 years, 2 months) |
|
Stephen Hong |
Currently: Senior Portfolio Manager (10 years, 3 months) |
|
Angelika Sansom |
Currently: Investment Analytics Manager (21 years, 4 months) |
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.
Investment Exclusions
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).
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 the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.
| Issue of concern | Does this fund say it excludes this? | Actual holdings |
|---|---|---|
| Adult Entertainment /Pornography | 0.00% | |
| Alcohol | 0.26% | |
| Animal Cruelty | 1.08% | |
| Fossil Fuels | 1.01% | |
| Gambling | 0.18% | |
| GMOs | 0.00% | |
| Human Rights & Environmental Violations | 0.76% | |
| Palm Oil | 0.00% | |
| Tobacco | 0.01% | |
| Weapons | 0.09% |
This data is compiled by Mindful Money from the fund information and portfolios
that each KiwiSaver fund has
filed with the Disclose register to 30th Sept. 2022 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 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.
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 |
|---|---|---|
| 2022 | -0.92% | -1.61% |
| 2021 | 8.73% | 7.94% |
| 2020 | 1.42% | 0.78% |
| 2019 | 4.58% | 4.15% |
| 2018 | 3.58% | 4.13% |
| 2017 | 4.10% | 2.92% |
| 2016 | 3.52% | 3.75% |
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 Dec. 2022.
Top 10 Investments
-
US 5Yr Note
United States Int Fixed Interest0.84% -
Euro Schatz Future
Germany Int Fixed Interest0.79% -
NZ Government Inflation Index Bond 2% 20/09/2025
New Zealand NZ Fixed Interest AAA0.58% -
NZ Government Bond 3.5% 14/04/2033
New Zealand NZ Fixed Interest AAA0.56% -
Fisher & Paykel Healthcare Ltd
New Zealand Australasian Equities0.54% -
S&P500 E-Mini Future
United States International Equities0.51% -
NZ Government Bond 3% 20/04/2029
New Zealand NZ Fixed Interest AAA0.48% -
Government Of Japan 0.1% 20-Dec-2026
Japan Int Fixed Interest A+0.47% -
NZ Government Inflation Index Bond 2.5% 20/09/2035
New Zealand NZ Fixed Interest AAA0.47% -
US 2Yr Note
United States Int Fixed Interest0.46%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 15.0% | 18.58% |
| New Zealand Fixed Interest | 29.0% | 29.1% |
| International Fixed Interest | 36.0% | 34.45% |
| Australasian Equities | 6.0% | 5.96% |
| International Equities | 12.0% | 10.13% |
| Listed Properties | 2.0% | 1.78% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
Investment Mix
How the money in this fund is invested against the fund's targets.
Target
Actual
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.