Westpac Defensive Conservative Fund

Find a Mindful Ethical fund »

Not Mindful

Fund type: Conservative fund

Past Returns: 4.29%

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

Annual Fees: 0.39%

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

Anglo American Capital PLC 4.0% 11-Sep-2027 0.02%
Anglo American PLC 0.03%
Black Hills Corporation 1.037% 23-Aug-2024 0.02%
Genesis Energy 07/12/2021 0.13%
Genesis Energy 08/10/2021 0.09%
Genesis Energy 08/11/2021 0.13%
Genesis Energy 1.32% 20/07/2022 0.14%
Genesis Energy 14/12/2021 0.13%
Genesis Energy 19/10/2021 0.12%
Genesis Energy 19/11/2021 0.09%
Genesis Energy 22/12/2021 0.08%
Genesis Energy 27/10/2021 0.08%
Genesis Energy 5% 03/04/2025 0.06%
Genesis Energy 5.81% 08/03/2023 0.07%
Israel Electric Corp. Ltd. 6.875% 21-Jun-2023 0.06%
Itochu Corporation 0.01%
Lg Corp 0.02%
Loews Corporation 0.01%
Parkland Corporation 0.01%

Weapons

Amphenol Corporation Class A 0.02%

Tobacco

Lawson, Inc. 0.01%

Gambling

Greek Organisation Of Football Prognostics SA 0.01%
La Francaise Des Jeux SA 0.01%
Sky City Entertainment Group 0.14%

Alcohol

Anheuser-Busch Inbev SA/Nv 2.125% 02-Dec-2027 0.03%
Anheuser-Busch Inbev SA/Nv 3.7% 02-Apr-2040 0.03%
Anheuser-Busch Inbev Worldwide, Inc. 5.55% 23-Jan-2049 0.02%
Carlsberg As Class B 0.01%
Diageo PLC 0.06%
Heineken Nv 0.03%
LVMH Moet Hennessy Louis Vuitton Se 0.05%
Molson Coors Beverage Company 5.0% 01-May-2042 0.03%
Pernod Ricard SA 0.04%

Palm Oil

Human Rights & Environmental Violations

Bayer AG 0.03%
Johnson & Johnson 0.05%
Nestle S.A. 0.07%
Rio Tinto PLC 0.01%

Animal Testing

Air Liquide SA 0.02%
Akzo Nobel N.V. 0.02%
Bayer AG 0.03%
Burberry Group PLC 0.01%
Capri Holdings Limited 0.02%
Danone SA 0.04%
Estee Lauder Companies Inc. Class A 0.02%
Fancl Corporation 0.02%
General Mills, Inc. 0.01%
Hermes International Sca 0.01%
Hp Inc. 0.01%
International Flavors & Fragrances Inc. 0.01%
J Sainsbury PLC 0.01%
Johnson & Johnson 0.05%
L'Oreal SA 0.03%
LVMH Moet Hennessy Louis Vuitton Se 0.05%
Linde PLC 0.06%
Mondelez International Holdings Netherlands Bv 2.125% 19-Sep-2022 0.04%
Mondelez International, Inc. 0.25% 17-Mar-2028 0.04%
Mosaic Company 0.01%
Nestle S.A. 0.07%
PPG Industries, Inc. 0.04%
Prada S.P.A. 0.01%
Procter & Gamble Company 0.03%
Reckitt Benckiser Group PLC 0.03%
Svenska Cellulosa Aktiebolaget Class B 0.02%
Tosoh Corporation 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.

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 8.80% 7.94%
2020 0.59% 0.78%
2019 4.26% 4.15%
2018 3.73% 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 Thu Sept. 30th 2021.

Showing the top 10 investments for this fund:

  • US 5Yr Note (Cbt)
    United States Int Fixed Interest
    1.72%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    0.89%
  • Euro Schatz Future
    Germany Int Fixed Interest
    0.78%
  • Westpac 32 Day Notice Deposit
    New Zealand Cash and Equivalents AA-
    0.73%
  • Mainfreight Ltd
    New Zealand Australasian Equities
    0.68%
  • NZ Government Bond 4.50% 15/04/2027
    New Zealand NZ Fixed Interest AAA
    0.66%
  • NZ Government Bond 2.75% 15/04/2037
    New Zealand NZ Fixed Interest AAA
    0.65%
  • NZ Government Bond 3% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    0.61%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    0.56%
  • NZ Government Inflation Index Bond 2% 20/09/2025
    New Zealand NZ Fixed Interest AAA
    0.54%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Thu Sept. 30th 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% 21.22%
New Zealand Fixed Interest 33.0% 31.14%
International Fixed Interest 29.0% 26.98%
Australasian Equities 7.0% 7.46%
International Equities 11.0% 11.22%
Listed Properties 2.0% 1.98%
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 Thu Sept. 30th 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:
    0.31%
  • Animal Testing:
    0.80%
  • Fossil Fuels:
    1.38%
  • Gambling:
    0.20%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.19%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.02%
  • Weapons:
    0.05%

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

"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 $350M NZD
Period of data report Thu Sept. 30th 2021
Members 37,442
Fund started Wed July 2nd 2014
Total annual fund fees 0.39%
Total performance based fees 0.0%
Manager's basic fee 0.3%
Other management and administration charges 0.09%
Total other charges 12.0
Total other charges currency NZD

Key Personnel

Nigel Jackson

Currently: Head of Investments (0 years, 8 months)
Previously: Acting Head of Investments & Insurance (3 years, 10 months)

Philip Houghton-Brown

Currently: Head of Investment Solutions (1 years, 0 months)
Previously: Chief Investment Officer / Head of Investments Mercer (8 years, 2 months)

Francois Richeboeuf

Currently: Senior Portfolio Manager (10 years, 11 months)
Previously: Acting Head of Investment Solutions (0 years, 8 months)

Stephen Hong

Currently: Senior Portfolio Manager (9 years, 0 months)
Previously: Portfolio Manager AXA Global Investors (5 years, 9 months)

Angelika Sansom

Currently: Investment Analytics Manager (20 years, 1 months)
Previously: Investment Consultant Mercer (2 years, 4 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Thu Sept. 30th 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Latest news

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.