Kiwi Wealth Default

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Fund type: Balanced fund

Past Returns: No three year data yet

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

Annual Fees: 0.37%

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

Alleghany Corp 0.02%
Anglo American PLC 0.06%
Arcelormittal SA 0.02%
Astra International Tbk Pt 0.02%
Atmos Energy Corp 0.02%
BHP Group Ltd 0.16%
Cheniere Energy Inc 0.03%
Dominion Energy Inc 0.06%
Engie SA 0.02%
Glencore PLC 0.07%
Hong Kong & China Gas Co Ltd 0.01%
Itochu Corp 0.04%
Jardine Matheson Holdings Ltd 0.02%
Kinder Morgan Inc/De 0.04%
Loews Corp 0.02%
Lyondellbasell Industries Nv 0.02%
Marubeni Corp 0.03%
Mitsubishi Corp 0.05%
Mitsui O.S.K.Linesnpv Temp 0.01%
Nippon Steel Corp 0.02%
Nippon Yusen Kk 0.02%
Oneok Inc 0.03%
Pembina Pipeline Corp 0.03%
Public Service Enterprise Group Inc 0.02%
Reliance Industries Ltd 0.09%
Snam Spa 0.02%
Sumitomo Corp 0.03%
Tc Energy Corp 0.05%
Teck Resources Ltd 0.02%
Valero Energy Corp 0.04%
Williams Cos Inc/The 0.04%

Weapons

Amphenol Corp 0.03%
Exor Nv 0.01%
Larsen and Toubro Ltd 0.01%
Transdigm Group Inc 0.03%

Tobacco

Alimentation Couche-Tard Inc 0.04%

Gambling

Aristocrat Leisure Ltd 0.02%
Caesars Entertainment Inc 0.01%
Evolution Gaming Group Ab 0.02%
Flutter Entertainment PLC 0.02%
Galaxy Entertainment Group Ltd 0.02%
Las Vegas Sands Corp 0.01%
Mgm Resorts International 0.02%
Opap SA 0.01%
Skycity Entertainment Group Ltd 0.18%
Skycity Entertainment Group Ltd 3.02% 21 May 27 21/5/2027 0.05%

Adult Entertainment/Pornography

Caesars Entertainment Inc 0.01%
Live Nation Entertainment Inc 0.02%
Mgm Resorts International 0.02%

Alcohol

Ambev SA-Adr Adr 0.02%
Anheuser-Busch Inbev SA/Nv 0.04%
Asahi Group Holdings Ltd 0.02%
Brown-Forman Corp 0.02%
Carlsberg A/S 0.02%
China Resources Beer Holdings Co Ltd 0.01%
Constellation Brands Inc 0.03%
Diageo PLC 0.10%
Heineken Holding Nv 0.02%
Heineken Nv 0.02%
Kirin Holdings Co Ltd 0.02%
LVMH Moet Hennessy Louis Vuitton Se 0.15%
Molson Coors Beverage Co 0.02%
Pernod Ricard SA 0.04%

Palm Oil

Astra International Tbk Pt 0.02%

GMOs

Corteva Inc 0.04%

Human Rights & Environmental Violations

Activision Blizzard Inc 0.05%
Astra International Tbk Pt 0.02%
BHP Group Ltd 0.16%
Credit Suisse Group AG 0.02%
Duke Energy Corp 0.06%
Evergreen Marine Corp Taiwan Ltd 0.01%
Formosa Chemicals & Fibre Corp 0.03%
Glencore PLC 0.07%
Johnson & Johnson 0.36%
Li Ning Co Ltd 0.02%
Motorola Solutions Inc 0.04%
Mtn Group Ltd 0.03%
Nestle SA 0.28%
Pg&E Corp 0.02%
Rio Tinto Ltd 0.04%
Rio Tinto PLC 0.06%
Teva Pharmaceutical Industries Ltd 0.01%
Uber Technologies Inc 0.05%

Animal Testing

Air Liquide SA 0.06%
Akzo Nobel Nv 0.01%
Albemarle Corp 0.02%
Archer-Daniels-Midland Co 0.04%
Asahi Group Holdings Ltd 0.02%
Associated British Foods PLC 0.01%
Avantor Inc 0.01%
Basf Se 0.04%
Beiersdorf AG 0.01%
Celanese Corp 0.01%
Chr Hansen Holding A/S 0.01%
Church & Dwight Co Inc 0.02%
Clorox Co/The 0.02%
Coca-Cola Co/The 0.18%
Corteva Inc 0.04%
Covestro AG 0.01%
Croda International PLC 0.01%
Danone SA 0.03%
Dow Inc 0.05%
Dupont De Nemours Inc 0.03%
Eastman Chemical Co 0.02%
Ecolab Inc 0.04%
Estee Lauder Cos Inc/The 0.05%
Fmc Corp 0.02%
Formosa Chemicals & Fibre Corp 0.03%
Formosa Plastics Corp 0.02%
Fujifilm Holdings Corp 0.02%
General Mills Inc 0.04%
Givaudan SA 0.03%
Glaxosmithkline PLC 0.09%
Henkel AG & Co Kgaa 0.01%
Hermes International 0.03%
Hindustan Unilever Ltd 0.02%
Hp Inc 0.03%
Ingersoll Rand Inc 0.02%
International Flavors & Fragrances Inc 0.03%
J Sainsbury PLC 0.01%
Johnson & Johnson 0.36%
Kao Corp 0.03%
Kellogg Co 0.02%
Kerry Group PLC 0.02%
Keurig Dr Pepper Inc 0.02%
Kikkoman Corp 0.01%
Kimberly-Clark Corp 0.03%
Kirin Holdings Co Ltd 0.02%
Koninklijke Dsm Nv 0.02%
Kraft Heinz Co/The 0.03%
L'Oreal SA 0.08%
LVMH Moet Hennessy Louis Vuitton Se 0.15%
Lg Household & Health Care Ltd 0.02%
Linde PLC 0.13%
Lyondellbasell Industries Nv 0.02%
Marubeni Corp 0.03%
Mondelez International Inc 0.07%
Nan Ya Plastics Corp 0.02%
Nestle SA 0.28%
Nissan Chemical Corp 0.01%
Nutrien Ltd 0.05%
Orkla Asa 0.02%
PPG Industries Inc 0.02%
Pepsico Inc 0.18%
Procter & Gamble Co/The 0.28%
Reckitt Benckiser Group PLC 0.04%
Reliance Industries Ltd 0.09%
Sherwin-Williams Co/The 0.04%
Shin-Etsu Chemical Co Ltd 0.06%
Shiseido Co Ltd 0.02%
Sociedad Quimica Y Minera De Chile SA 0.03%
Solvay SA 0.01%
Svenska Cellulosa Ab Sca 0.01%
Symrise AG 0.01%
Tesco PLC 0.03%
Unicharm Corp 0.02%
Unilever PLC 0.09%
Yara International Asa 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 March 31st 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.

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

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 March 31st 2022.

Showing the top 10 investments for this fund:

  • Ishares ESG Global Bond Index Fund - Class E Units
    Australia Int Fixed Interest
    19.19%
  • Apple Inc
    United States International Equities
    2.32%
  • Microsoft Corp
    United States International Equities
    1.82%
  • Amazon.Com Inc
    United States International Equities
    1.15%
  • New Zealand Local Government Funding Agency Bond 4.5% 15/4/2027
    New Zealand NZ Fixed Interest AAA
    1.12%
  • Fisher & Paykel Healthcare Corp Ltd
    New Zealand Australasian Equities
    1.05%
  • Aggregate BNZ Pnl Hedge
    New Zealand Cash and Equivalents
    1.05%
  • New Zealand Local Government Funding Agency Bond 3.5% 14/4/2033
    New Zealand NZ Fixed Interest AAA
    0.88%
  • USD BNP Paribas A/C
    United States Cash and Equivalents
    0.85%
  • New Zealand Local Government Funding Agency Bond 1.5% 20/4/2029
    New Zealand NZ Fixed Interest AAA
    0.85%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Thu March 31st 2022.

How the money in this fund is invested against the fund's targets.

Target

Actual


Type Target Actual
Cash and Cash Equivalents 0.0% 4.76%
New Zealand Fixed Interest 20.0% 9.58%
International Fixed Interest 20.0% 25.97%
Australasian Equities 9.0% 9.34%
International Equities 51.0% 48.27%
Listed Properties 0.0% 2.08%
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 March 31st 2022.

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:
    0.05%
  • Alcohol:
    0.53%
  • Animal Testing:
    3.62%
  • Fossil Fuels:
    1.16%
  • Gambling:
    0.37%
  • GMOs:
    0.04%
  • Human Rights & Environmental Violations:
    1.35%
  • Palm Oil:
    0.03%
  • Tobacco:
    0.04%
  • Weapons:
    0.11%

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 March 31st 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 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 Default Fund investes between 45% to 63% in shares and other growth assets, with the remainder invested in cash and fixed interest assets. Its objective is to generate similar performance to the returns you would receive from investing 40% of your funds in fixed interest assets and 60% in shares."

Value $480M NZD
Period of data report Thu March 31st 2022
Members 57,646
Fund started Tue Jan. 12th 2021
Total annual fund fees 0.37%
Total performance based fees 0.0%
Manager's basic fee 0.37%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Steffan Berridge

Currently: Acting Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (0 years, 4 months)
Previously: Head of Quantitative Investment - Kiwi Wealth Investments Limited Partnership (8 years, 2 months)

Diana Gordon

Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (9 years, 7 months)
Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

Greg Hayton

Currently: NZ Fixed Income Portfolio Manager & Head of Cash - Kiwi Wealth Investments Limited Partnership (1 years, 4 months)
Previously: Cash Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (3 years, 0 months)

Nathan Field

Currently: Head of Thematic Equities - Kiwi Wealth Investments Limited Partnership (11 years, 10 months)
Previously: Senior Equity Analyst - ABN Amro, Sydney (4 years, 6 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Thu March 31st 2022.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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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.