Funds

Westpac Conservative Fund

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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 0.31%
    • 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%
    • Anglo American PLC C 0.03%
    • 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%
    • Atmos Energy Corporation 0.02%
    • Ck Asset Holdings Limited 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%
    • China Longyuan Power Group Corporation Ltd Class H 0.01%
    • China Suntien Green Energy Corporation Limited Class H 0.01%
    • Enel Finance International Nv 2.25% 12-Jul-2031 0.01%
    • Itochu Corporation 0.01%
    • Lg Corp 0.01%
    • Loews Corporation 0.01%
    • National Grid PLC 0.01%
    • National Grid PLC 2.949% 30-Mar-2030 0.01%
    • Parkland Corporation 0.01%
    • Sempra Energy 0.01%
    • Sumitomo Chemical Co., Ltd. 0.01%

  • Weapons

    • Amphenol Corporation Class A 0.03%
    • Wal-Mart De Mexico Sab De Cv 0.03%

  • Tobacco

    • Alimentation Couche-Tard Inc. 0.01%

  • Gambling

    • Sky City Entertainment Group 0.07%
    • Vici Properties Inc 0.05%
    • 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%
    • Las Vegas Sands Corp. 0.01%

  • Alcohol

    • Diageo PLC 0.07%
    • Pernod Ricard SA 0.05%
    • Heineken Nv 0.04%
    • Anheuser-Busch Inbev Worldwide, Inc. 3.5% 01-Jun-2030 0.03%
    • Anheuser-Busch Inbev Worldwide, Inc. 4.0% 13-Apr-2028 0.03%
    • Anheuser-Busch Inbev SA/Nv 3.7% 02-Apr-2040 0.02%
    • Treasury Wine Estates Ltd 0.02%
    • Carlsberg As Class B 0.01%
    • Tsingtao Brewery Co., Ltd. Class H 0.01%

  • Human Rights & Environmental Violations

    • Thermo Fisher Scientific Inc. 0.09%
    • Nestle S.A. 0.08%
    • Credit Suisse Group AG 1.25% 17-Jul-2025 0.07%
    • Johnson & Johnson 0.06%
    • Nutrien Ltd 0.06%
    • Bayer AG 0.05%
    • Thermo Fisher Scientific Inc. 0.125% 01-Mar-2025 0.05%
    • 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%
    • Barrick Gold Corporation 0.01%
    • 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 0.06%
    • Nutrien Ltd 0.06%
    • Bayer AG 0.05%
    • Colgate-Palmolive Company 0.05%
    • Danone SA 0.05%
    • Mondelez International, Inc. 1.625% 08-Mar-2027 0.05%
    • Pepsico, Inc. 0.05%
    • Procter & Gamble Company 0.05%
    • 3M Company 0.04%
    • Compagnie Financiere Richemont SA 0.04%
    • Air Liquide SA 0.03%
    • Essity Ab Class B 0.03%
    • International Flavors & Fragrances Inc. 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%
    • Mosaic Company 0.03%
    • PPG Industries, Inc. 0.03%
    • Pepsico, Inc. 3.6% 18-Feb-2028 0.03%
    • Sherwin-Williams Company 0.03%
    • Akzo Nobel N.V. 0.02%
    • Archer-Daniels-Midland Company 0.02%
    • Burberry Group PLC 0.02%
    • Coca-Cola Company 0.02%
    • Dow, Inc. 0.02%
    • Estee Lauder Companies Inc. Class A 0.02%
    • General Mills, Inc. 0.02%
    • Kellogg Company 0.02%
    • Mondelez International, Inc. Class A 0.02%
    • Sherwin-Williams Company 4.25% 08-Aug-2025 0.02%
    • Ultrapar Participacoes S.A. Sponsored Adr 0.02%
    • Unilever PLC 0.02%
    • Canon Inc. 0.01%
    • Daikin Industries, Ltd. 0.01%
    • Kikkoman Corporation 0.01%
    • Kraft Heinz Company 0.01%
    • Ping An Insurance (Group) Company Of China, Ltd. Class H 0.01%
    • Prada S.P.A. 0.01%
    • Sumitomo Chemical Co., Ltd. 0.01%
    • Tate & Lyle PLC 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 Conservative Fund aims to provide stable returns over the short to medium term. The fund invests primarily in income assets but also has a 25% benchmark allocation to growth assets. Volatility is expected to be higher than the Defensive Conservative Fund but lower than the Moderate Fund in the Westpac KiwiSaver Scheme.

Value $2.9B NZD
Period of data report 31st Dec. 2022
Members 171,369
Fund started 1st Oct. 2007
Total annual fund fees 0.48%
Total performance based fees 0.0%
Manager's basic fee 0.42%
Other management and administration charges 0.06%
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)
Previously: Head of Investments (1 years, 6 months)

Philip Houghton-Brown

Currently: Head of Investment Solutions (2 years, 3 months)
Previously: Chief Investment Officer / Head of Investments, Mercer (8 years, 2 months)

Francois Richeboeuf

Currently: Senior Manager (12 years, 2 months)
Previously: Acting Head of Investment Solutions (0 years, 8 months)

Stephen Hong

Currently: Senior Portfolio Manager (10 years, 3 months)
Previously: Portfolio Manager, AXA Global Investors (5 years, 9 months)

Angelika Sansom

Currently: Investment Analytics Manager (21 years, 4 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 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 0.29%
Animal Cruelty 1.23%
Fossil Fuels 1.09%
Gambling 0.22%
GMOs 0.00%
Human Rights & Environmental Violations 0.82%
Palm Oil 0.01%
Tobacco 0.01%
Weapons 0.10%

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% -1.43%
2021 8.73% 8.99%
2020 1.42% 0.16%
2019 4.58% 4.34%
2018 3.58% 4.56%
2017 4.10% 2.92%
2016 3.52% 3.51%
2015 8.10% 7.9%
2014 3.88% 3.45%
2013 6.92% 7.24%

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 Interest
    0.82%
  • Euro Schatz Future
    Germany Int Fixed Interest
    0.76%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    0.63%
  • S&P500 E-Mini Future
    United States International Equities
    0.6%
  • NZ Government Inflation Index Bond 2% 20/09/2025
    New Zealand NZ Fixed Interest AAA
    0.56%
  • NZ Government Bond 3.5% 14/04/2033
    New Zealand NZ Fixed Interest AAA
    0.53%
  • Spi 200 Future
    Australia Australasian Equities
    0.49%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    0.49%
  • Government Of Japan 0.1% 20-Dec-2026
    Japan Int Fixed Interest A+
    0.46%
  • NZ Government Bond 3% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    0.46%
Type Target Actual
Cash and Cash Equivalents 13.0% 16.92%
New Zealand Fixed Interest 27.0% 26.98%
International Fixed Interest 35.0% 33.42%
Australasian Equities 7.0% 6.97%
International Equities 14.0% 11.82%
Listed Properties 4.0% 3.89%
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.