Funds

NZ Defence Force KiwiSaver Balanced Fund

Total Ethical Concerns: 9.38%

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

Companies of Concern

  • Animal Cruelty 1.38%

    • Koninklijke Ahold Delhaize Nv
      0.19%
      0.19%
    • Exxon Mobil Corp.
      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%
    • 0.07%
    • Chevron Corp.
      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%
    • Colgate-Palmolive Co.
      0.05%
      0.05%
    • Eni Spa
      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%
    • Hermès International Sca
      0.05%
      0.05%
    • Shell
      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%
    • Tyson Foods Inc
      0.04%
      0.04%
    • Celanese US Holdings Llc
      0.03%
      0.03%
    • Unilever PLC
      0.03%
      0.03%
    • Air Liquide
      0.02%
      0.02%
    • Bayer
      0.02%
      0.02%
    • Dupont De Nemours
      0.02%
      0.02%
    • Ecolab, Inc.
      0.02%
      0.02%
    • FMC Corp.
      0.02%
      0.02%
    • Givaudan Finance Europe Bv
      0.02%
      0.02%
    • Huntsman Corp.
      0.02%
      0.02%
    • Kering SA
      0.02%
      0.02%
    • L'Oréal 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%
    • The Sherwin-Williams Co.
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • JBS S.A.
      0.01%
      0.01%
    • Yara International Asa
      0.01%
      0.01%
  • Human Rights Violations 1.86%

    • 0.72%
    • Rio Tinto
      0.15%
      0.15%
    • UBS
      0.14%
      0.14%
    • Wells Fargo
      0.13%
      0.13%
    • 0.10%
    • General Motors
      0.08%
      0.08%
    • Nestlé
      0.08%
      0.08%
    • 0.03%
    • Caterpillar
      0.03%
      0.03%
    • 0.03%
    • Holcim
      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%
    • Zijin Mining
      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%
  • Social Harm 0.68%

  • Fossil Fuels 5.1%

    • Contact Energy Ltd.
      1.05%
      1.5°C
      This company is on a 1.5°C pathway
      1.05%
    • National Grid PLC
      0.20%
      !!
      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
      0.20%
    • American Electric Power Co., Inc.
      0.17%
      0.17%
    • BP
      0.15%
      !!
      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
      0.15%
    • Rio Tinto
      0.15%
      0.15%
    • Nextera Energy, Inc.
      0.14%
      0.14%
    • Duke Energy Corp
      0.13%
      0.13%
    • Engie SA
      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%
    • Xcel Energy, Inc.
      0.12%
      0.12%
    • Dominion Energy, Inc.
      0.11%
      0.11%
    • Itochu Corp.
      0.11%
      !!
      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
      0.11%
    • Exxon Mobil Corp.
      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%
    • Pg&E Corp
      0.10%
      0.10%
    • Atmos Energy Corp.
      0.09%
      0.09%
    • Aker BP Asa
      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%
    • BHP
      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%
    • Edp-Energias De Portugal SA
      0.08%
      1.5°C
      This company is on a 1.5°C pathway
      0.08%
    • 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%
    • Consolidated Edison, Inc.
      0.07%
      0.07%
    • Enbridge, Inc.
      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%
    • Energy Transfer Lp
      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%
    • Targa Resources Corp.
      0.06%
      0.06%
    • Chevron Corp.
      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%
    • Eni Spa
      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%
    • Occidental Petroleum Corp.
      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%
    • Pinnacle West Capital Corp.
      0.05%
      0.05%
    • Portland General Electric Co.
      0.05%
      0.05%
    • Rwe AG
      0.05%
      0.05%
    • Shell
      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%
    • Snam Spa
      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%
    • 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%
    • 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%
    • OMV AG
      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%
    • Oneok, Inc.
      0.04%
      0.04%
    • Vår Energi Asa
      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%
    • 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%
    • 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%
    • Fairfax Financial Holdings Ltd.
      0.03%
      0.03%
    • 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%
    • 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%
    • Western Midstream Partners Lp
      0.03%
      0.03%
    • Barrick Gold
      0.02%
      0.02%
    • Centerpoint Energy, Inc.
      0.02%
      0.02%
    • Channel Infrastructure
      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%
    • Jefferies
      0.02%
      0.02%
    • Nrg Energy, Inc.
      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%
    • Repsol
      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%
    • Suncor Energy, Inc.
      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%
    • The Southern Co.
      0.02%
      0.02%
    • Vier Gas Transport Gmbh
      0.02%
      0.02%
    • Wintershall Dea
      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%
    • Aes Corporation
      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%
    • 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%
    • Delta Air Lines, Inc.
      0.01%
      0.01%
    • Eog Resources, 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%
    • Ep Infrastructure As
      0.01%
      0.01%
    • Equinor Asa
      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%
    • Mitsubishi Corp.
      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%
    • 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%
    • PT Astra International Tbk
      0.01%
      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%
    • 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%
    • The Weir Group PLC
      0.01%
      0.01%
    • Vistra Energy
      0.01%
      0.01%
  • Weapons 0.52%

    • Amphenol Corp.
      0.16%
      0.16%
    • Mtu Aero Engines AG
      0.15%
      0.15%
    • Rheinmetall AG
      0.07%
      0.07%
    • Dassault Aviation SA
      0.06%
      0.06%
    • Howmet Aerospace, Inc.
      0.02%
      0.02%
    • 0.02%
    • Transdigm Group, Inc.
      0.02%
      0.02%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm 1.02%

    • Duke Energy Corp
      0.13%
      0.13%
    • Pg&E Corp
      0.10%
      0.10%
    • BHP
      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%
    • PepsiCo
      0.08%
      0.08%
    • 0.08%
    • Energy Transfer Lp
      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%
    • Chevron Corp.
      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%
    • Shell
      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%
    • 0.03%
    • 0.03%
    • Mondelez
      0.03%
      0.03%
    • Unilever PLC
      0.03%
      0.03%
    • Barrick Gold
      0.02%
      0.02%
    • Bayer
      0.02%
      0.02%
    • Danone
      0.02%
      0.02%
    • FMC Corp.
      0.02%
      0.02%
    • Nutrien Ltd.
      0.02%
      0.02%
    • Syngenta
      0.02%
      0.02%
    • Zijin Mining
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Archer-Daniels Midland
      0.01%
      0.01%
    • Fonterra
      0.01%
      0.01%
    • JBS S.A.
      0.01%
      0.01%
    • Mitsubishi Corp.
      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%
    • PT Astra International Tbk
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    About this Fund

    Invests mainly in growth assets such as share and real assets, with about 40% invested in defensive assets such as fixed interest and cash. May be suitable for investors who want a diversified investment with exposure to shares, real assets, fixed interest and cash, who are comfortable with a higher degree of volatility in returns than can be expected from the Moderate fund and who can invest for the long term.

    Value $117M NZD
    Period of data report 31st March 2025
    Members 3,208
    Fund started 9th Oct. 2015
    Total annual fund fees 0.88%
    Total performance based fees 0.0%
    Manager's basic fee 0.67%
    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% 4.94%
    2024 10.86% 9.42%
    2023 -2.79% -3.91%
    2022 1.34% 1.79%
    2021 17.98% 17.87%
    2020 -1.40% -3.06%
    2019 5.81% 4.85%
    2018 5.28% 6.27%
    2017 5.86% 6.91%

    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

      4.15%
    • Fisher & Paykel Healthcare Corporation Limited

      New Zealand Australasian Equities

      2.33%
    • First Sentier Global Listed Infrastructure Fund

      New Zealand Other

      1.96%
    • Auckland International Airport Limited

      New Zealand Australasian Equities

      1.46%
    • Infratil Limited

      New Zealand Australasian Equities

      1.24%
    • Apple Inc

      United States International Equities

      1.22%
    • Microsoft Corporation

      United States International Equities

      1.21%
    • Nvidia Corporation

      United States International Equities

      1.13%
    • Contact Energy Limited

      New Zealand Australasian Equities

      1.05%
    • Amazon.Com Inc

      United States International Equities

      0.95%
    Type Target Actual
    Cash and Cash Equivalents 4.0% 4.77%
    New Zealand Fixed Interest 10.0% 11.18%
    International Fixed Interest 26.0% 26.65%
    Australasian Equities 15.5% 15.04%
    International Equities 38.5% 35.91%
    Listed Properties 3.0% 3.37%
    Unlisted Properties 0.0% 0.0%
    Other 3.0% 3.08%
    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

  • 1.38% Animal Cruelty
  • 1.86% Human Rights Violations
  • 0.68% Social Harm
  • 5.1% Fossil Fuels
  • 0.52% Weapons
  • 1.02% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • Koninklijke Ahold Delhaize Nv
      0.19%
      0.19%
    • Exxon Mobil Corp.
      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%
    • 0.07%
    • Chevron Corp.
      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%
    • Colgate-Palmolive Co.
      0.05%
      0.05%
    • Eni Spa
      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%
    • Hermès International Sca
      0.05%
      0.05%
    • Shell
      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%
    • Tyson Foods Inc
      0.04%
      0.04%
    • Celanese US Holdings Llc
      0.03%
      0.03%
    • Unilever PLC
      0.03%
      0.03%
    • Air Liquide
      0.02%
      0.02%
    • Bayer
      0.02%
      0.02%
    • Dupont De Nemours
      0.02%
      0.02%
    • Ecolab, Inc.
      0.02%
      0.02%
    • FMC Corp.
      0.02%
      0.02%
    • Givaudan Finance Europe Bv
      0.02%
      0.02%
    • Huntsman Corp.
      0.02%
      0.02%
    • Kering SA
      0.02%
      0.02%
    • L'Oréal 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%
    • The Sherwin-Williams Co.
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • JBS S.A.
      0.01%
      0.01%
    • Yara International Asa
      0.01%
      0.01%
  • Human Rights Violations

    • 0.72%
    • Rio Tinto
      0.15%
      0.15%
    • UBS
      0.14%
      0.14%
    • Wells Fargo
      0.13%
      0.13%
    • 0.10%
    • General Motors
      0.08%
      0.08%
    • Nestlé
      0.08%
      0.08%
    • 0.03%
    • Caterpillar
      0.03%
      0.03%
    • 0.03%
    • Holcim
      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%
    • Zijin Mining
      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%
  • Fossil Fuels

    • Contact Energy Ltd.
      1.05%
      1.5°C
      This company is on a 1.5°C pathway
      1.05%
    • National Grid PLC
      0.20%
      !!
      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
      0.20%
    • American Electric Power Co., Inc.
      0.17%
      0.17%
    • BP
      0.15%
      !!
      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
      0.15%
    • Rio Tinto
      0.15%
      0.15%
    • Nextera Energy, Inc.
      0.14%
      0.14%
    • Duke Energy Corp
      0.13%
      0.13%
    • Engie SA
      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%
    • Xcel Energy, Inc.
      0.12%
      0.12%
    • Dominion Energy, Inc.
      0.11%
      0.11%
    • Itochu Corp.
      0.11%
      !!
      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
      0.11%
    • Exxon Mobil Corp.
      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%
    • Pg&E Corp
      0.10%
      0.10%
    • Atmos Energy Corp.
      0.09%
      0.09%
    • Aker BP Asa
      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%
    • BHP
      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%
    • Edp-Energias De Portugal SA
      0.08%
      1.5°C
      This company is on a 1.5°C pathway
      0.08%
    • 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%
    • Consolidated Edison, Inc.
      0.07%
      0.07%
    • Enbridge, Inc.
      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%
    • Energy Transfer Lp
      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%
    • Targa Resources Corp.
      0.06%
      0.06%
    • Chevron Corp.
      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%
    • Eni Spa
      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%
    • Occidental Petroleum Corp.
      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%
    • Pinnacle West Capital Corp.
      0.05%
      0.05%
    • Portland General Electric Co.
      0.05%
      0.05%
    • Rwe AG
      0.05%
      0.05%
    • Shell
      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%
    • Snam Spa
      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%
    • 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%
    • 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%
    • OMV AG
      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%
    • Oneok, Inc.
      0.04%
      0.04%
    • Vår Energi Asa
      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%
    • 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%
    • 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%
    • Fairfax Financial Holdings Ltd.
      0.03%
      0.03%
    • 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%
    • 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%
    • Western Midstream Partners Lp
      0.03%
      0.03%
    • Barrick Gold
      0.02%
      0.02%
    • Centerpoint Energy, Inc.
      0.02%
      0.02%
    • Channel Infrastructure
      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%
    • Jefferies
      0.02%
      0.02%
    • Nrg Energy, Inc.
      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%
    • Repsol
      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%
    • Suncor Energy, Inc.
      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%
    • The Southern Co.
      0.02%
      0.02%
    • Vier Gas Transport Gmbh
      0.02%
      0.02%
    • Wintershall Dea
      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%
    • Aes Corporation
      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%
    • 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%
    • Delta Air Lines, Inc.
      0.01%
      0.01%
    • Eog Resources, 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%
    • Ep Infrastructure As
      0.01%
      0.01%
    • Equinor Asa
      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%
    • Mitsubishi Corp.
      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%
    • 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%
    • PT Astra International Tbk
      0.01%
      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%
    • 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%
    • The Weir Group PLC
      0.01%
      0.01%
    • Vistra Energy
      0.01%
      0.01%
  • Weapons

    • Amphenol Corp.
      0.16%
      0.16%
    • Mtu Aero Engines AG
      0.15%
      0.15%
    • Rheinmetall AG
      0.07%
      0.07%
    • Dassault Aviation SA
      0.06%
      0.06%
    • Howmet Aerospace, Inc.
      0.02%
      0.02%
    • 0.02%
    • Transdigm Group, Inc.
      0.02%
      0.02%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm

    • Duke Energy Corp
      0.13%
      0.13%
    • Pg&E Corp
      0.10%
      0.10%
    • BHP
      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%
    • PepsiCo
      0.08%
      0.08%
    • 0.08%
    • Energy Transfer Lp
      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%
    • Chevron Corp.
      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%
    • Shell
      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%
    • 0.03%
    • 0.03%
    • Mondelez
      0.03%
      0.03%
    • Unilever PLC
      0.03%
      0.03%
    • Barrick Gold
      0.02%
      0.02%
    • Bayer
      0.02%
      0.02%
    • Danone
      0.02%
      0.02%
    • FMC Corp.
      0.02%
      0.02%
    • Nutrien Ltd.
      0.02%
      0.02%
    • Syngenta
      0.02%
      0.02%
    • Zijin Mining
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Archer-Daniels Midland
      0.01%
      0.01%
    • Fonterra
      0.01%
      0.01%
    • JBS S.A.
      0.01%
      0.01%
    • Mitsubishi Corp.
      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%
    • PT Astra International Tbk
      0.01%
      0.01%

About this Fund

Invests mainly in growth assets such as share and real assets, with about 40% invested in defensive assets such as fixed interest and cash. May be suitable for investors who want a diversified investment with exposure to shares, real assets, fixed interest and cash, who are comfortable with a higher degree of volatility in returns than can be expected from the Moderate fund and who can invest for the long term.

Value $117M NZD
Period of data report 31st March 2025
Members 3,208
Fund started 9th Oct. 2015
Total annual fund fees 0.88%
Total performance based fees 0.0%
Manager's basic fee 0.67%
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% 4.94%
2024 10.86% 9.42%
2023 -2.79% -3.91%
2022 1.34% 1.79%
2021 17.98% 17.87%
2020 -1.40% -3.06%
2019 5.81% 4.85%
2018 5.28% 6.27%
2017 5.86% 6.91%

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

    4.15%
  • Fisher & Paykel Healthcare Corporation Limited

    New Zealand Australasian Equities

    2.33%
  • First Sentier Global Listed Infrastructure Fund

    New Zealand Other

    1.96%
  • Auckland International Airport Limited

    New Zealand Australasian Equities

    1.46%
  • Infratil Limited

    New Zealand Australasian Equities

    1.24%
  • Apple Inc

    United States International Equities

    1.22%
  • Microsoft Corporation

    United States International Equities

    1.21%
  • Nvidia Corporation

    United States International Equities

    1.13%
  • Contact Energy Limited

    New Zealand Australasian Equities

    1.05%
  • Amazon.Com Inc

    United States International Equities

    0.95%
Type Target Actual
Cash and Cash Equivalents 4.0% 4.77%
New Zealand Fixed Interest 10.0% 11.18%
International Fixed Interest 26.0% 26.65%
Australasian Equities 15.5% 15.04%
International Equities 38.5% 35.91%
Listed Properties 3.0% 3.37%
Unlisted Properties 0.0% 0.0%
Other 3.0% 3.08%
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.