Funds
Kiwi Wealth Default
Fund type: Balanced fund
Past Returns: *-13.52%Annual Fees: 0.37%
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 0.48%
- Nextera Energy Inc 0.16%
- BHP Group Ltd 0.14%
- Genesis Energy Ltd 0.11%
- Duke Energy Corp 0.07%
- Glencore PLC 0.07%
- Southern Co/The 0.07%
- Iberdrola SA 0.06%
- Cheniere Energy Inc 0.05%
- Dominion Energy Inc 0.05%
- Sempra Energy 0.05%
- Tc Energy Corp 0.05%
- Valero Energy Corp 0.05%
- American Electric Power Co Inc 0.04%
- Anglo American PLC 0.04%
- Itochu Corp 0.04%
- Kinder Morgan Inc/De 0.04%
- Mitsubishi Corp 0.04%
- National Grid PLC 0.04%
- Williams Cos Inc/The 0.04%
- Consolidated Edison Inc 0.03%
- Enel Spa 0.03%
- Franco-Nevada Corp 0.03%
- Oneok Inc 0.03%
- Pembina Pipeline Corp 0.03%
- Public Service Enterprise Group Inc 0.03%
- Rwe AG 0.03%
- Wec Energy Group Inc 0.03%
- Xcel Energy Inc 0.03%
- Algonquin Power & Utilities Corp 0.02%
- Alliant Energy Corp 0.02%
- Ameren Corp 0.02%
- Astra International Tbk Pt 0.02%
- Atmos Energy Corp 0.02%
- Ck Asset Holdings Ltd 0.02%
- Ck Hutchison Holdings Ltd 0.02%
- Clp Holdings Ltd 0.02%
- Cms Energy Corp 0.02%
- Delta Air Lines Inc 0.02%
- Dte Energy Co 0.02%
- Edp - Energias De Portugal SA 0.02%
- Emera Inc 0.02%
- Eneos Holdings Inc 0.02%
- Engie SA 0.02%
- Entergy Corp 0.02%
- Evergy Inc 0.02%
- Fortis Inc/Canada 0.02%
- Jardine Matheson Holdings Ltd 0.02%
- Lg Corp 0.02%
- Lyondellbasell Industries Nv 0.02%
- Marubeni Corp 0.02%
- Neste Oyj 0.02%
- Nippon Steel Corp 0.02%
- Nisource Inc 0.02%
- Pg&E Corp 0.02%
- Ppl Corp 0.02%
- Samsung C&T Corp 0.02%
- Sumitomo Corp 0.02%
- Taiwan Cement Corp 0.02%
- Acwa Power Co 0.01%
- Apa Group 0.01%
- Arcelormittal SA 0.01%
- Cez As 0.01%
- Contact Energy Ltd 4.63% 15 Nov 22 15/11/2022 0.01%
- Eqt Ab 0.01%
- Hong Kong & China Gas Co Ltd 0.01%
- Kansai Electric Power Co Inc/The 0.01%
- Loews Corp 0.01%
- Nippon Yusen Kk Npv Temp 0.01%
- Northland Power Inc 0.01%
- Origin Energy Ltd 0.01%
- Osaka Gas Co Ltd 0.01%
- Pinnacle West Capital Corp 0.01%
- Power Assets Holdings Ltd 0.01%
- Sasol Ltd 0.01%
- Snam Spa 0.01%
- Tokyo Gas Co Ltd 0.01%
Weapons
- Walmart Inc 0.20%
- Amphenol Corp 0.04%
- Transdigm Group Inc 0.03%
- Wal-Mart De Mexico Sab De Cv 0.03%
Tobacco
- Alimentation Couche-Tard Inc 0.04%
Gambling
- Skycity Entertainment Group Ltd 0.19%
- Skycity Entertainment Group Ltd 3.02% 21 May 27 21/5/2027 0.05%
- Aristocrat Leisure Ltd 0.02%
- Galaxy Entertainment Group Ltd 0.02%
- Las Vegas Sands Corp 0.02%
- Mgm Resorts International 0.02%
- Lottery Corp Ltd/The 0.01%
Adult Entertainment/Pornography
- Mgm Resorts International 0.02%
Alcohol
- Diageo PLC 0.10%
- Anheuser-Busch Inbev SA/Nv 0.04%
- Constellation Brands Inc 0.04%
- Pernod Ricard SA 0.04%
- Ambev SA-Adr Adr 0.02%
- Asahi Group Holdings Ltd 0.02%
- Brown-Forman Corp 0.02%
- China Resources Beer Holdings Co Ltd 0.02%
- Heineken Holding Nv 0.02%
- Heineken Nv 0.02%
- Kirin Holdings Co Ltd 0.02%
- Carlsberg A/S 0.01%
- Molson Coors Beverage Co 0.01%
- Tsingtao Brewery Co Ltd 0.01%
Palm Oil
- Astra International Tbk Pt 0.02%
GMOs
- Corteva Inc 0.05%
Human Rights & Environmental Violations
- Johnson & Johnson 0.45%
- Meta Platforms Inc 0.33%
- Nestle SA 0.31%
- Thermo Fisher Scientific Inc 0.20%
- Wells Fargo & Co 0.16%
- BHP Group Ltd 0.14%
- Caterpillar Inc 0.09%
- Duke Energy Corp 0.07%
- Glencore PLC 0.07%
- Rio Tinto PLC 0.06%
- Activision Blizzard Inc 0.05%
- Archer-Daniels-Midland Co 0.05%
- Corteva Inc 0.05%
- Motorola Solutions Inc 0.05%
- Nutrien Ltd 0.05%
- Uber Technologies Inc 0.05%
- Basf Se 0.04%
- Li Ning Co Ltd 0.03%
- Rio Tinto Ltd 0.03%
- Astra International Tbk Pt 0.02%
- Fmc Corp 0.02%
- Formosa Chemicals & Fibre Corp 0.02%
- Pg&E Corp 0.02%
- Teva Pharmaceutical Industries Ltd 0.02%
- Credit Suisse Group AG 0.01%
- Nissan Chemical Corp 0.01%
Animal Cruelty
- Nestle SA 0.31%
- Procter & Gamble Co/The 0.31%
- Pepsico Inc 0.23%
- Coca-Cola Co/The 0.22%
- LVMH Moet Hennessy Louis Vuitton Se 0.16%
- Unilever PLC 0.12%
- L'Oreal SA 0.09%
- Mondelez International Inc 0.08%
- 3M Co 0.07%
- Colgate-Palmolive Co 0.06%
- Air Liquide SA 0.05%
- Archer-Daniels-Midland Co 0.05%
- Cie Financiere Richemont SA 0.05%
- Corteva Inc 0.05%
- Daikin Industries Ltd 0.05%
- Estee Lauder Cos Inc/The 0.05%
- General Mills Inc 0.05%
- Nutrien Ltd 0.05%
- Sherwin-Williams Co/The 0.05%
- Basf Se 0.04%
- Constellation Brands Inc 0.04%
- Danone SA 0.04%
- Dow Inc 0.04%
- Ecolab Inc 0.04%
- Hermes International 0.04%
- Kering SA 0.04%
- Kimberly-Clark Corp 0.04%
- Mitsubishi Corp 0.04%
- Ping An Insurance Group Co Of China Ltd 0.04%
- Albemarle Corp 0.03%
- Dupont De Nemours Inc 0.03%
- Givaudan SA 0.03%
- Groupe Bruxelles Lambert SA 0.03%
- International Flavors & Fragrances Inc 0.03%
- Kao Corp 0.03%
- Keurig Dr Pepper Inc 0.03%
- Koninklijke Ahold Delhaize Nv 0.03%
- Kraft Heinz Co/The 0.03%
- PPG Industries Inc 0.03%
- Ajinomoto Co Inc 0.02%
- Asahi Group Holdings Ltd 0.02%
- Canon Inc 0.02%
- Church & Dwight Co Inc 0.02%
- Clorox Co/The 0.02%
- Denso Corp 0.02%
- Fmc Corp 0.02%
- Formosa Chemicals & Fibre Corp 0.02%
- Formosa Plastics Corp 0.02%
- Fujifilm Holdings Corp 0.02%
- Henkel AG & Co Kgaa 0.02%
- Hormel Foods Corp 0.02%
- Kellogg Co 0.02%
- Kerry Group PLC 0.02%
- Koninklijke Dsm Nv 0.02%
- Lyondellbasell Industries Nv 0.02%
- Mosaic Co/The 0.02%
- Nan Ya Plastics Corp 0.02%
- Otsuka Holdings Co Ltd 0.02%
- Rentokil Initial PLC 0.02%
- Shiseido Co Ltd 0.02%
- Tesco PLC 0.02%
- Tyson Foods Inc 0.02%
- Unicharm Corp 0.02%
- Avantor Inc 0.01%
- Campbell Soup Co 0.01%
- Celanese Corp 0.01%
- Croda International PLC 0.01%
- Eastman Chemical Co 0.01%
- Essity Ab 0.01%
- George Weston Ltd 0.01%
- Intertek Group PLC 0.01%
- Kikkoman Corp 0.01%
- Mitsubishi Chemical Holdings Corp 0.01%
- Molson Coors Beverage Co 0.01%
- Nissan Chemical Corp 0.01%
- Novozymes A/S-B Shares 0.01%
- Sasol Ltd 0.01%
- Sgs SA 0.01%
- Solvay SA 0.01%
- Symrise AG 0.01%
- 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 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 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 | $500M NZD |
| Period of data report | 31st Dec. 2022 |
| Members | 62,519 |
| Fund started | 1st Dec. 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: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (1 years, 1 months) |
|
Diana Gordon |
Currently: Deputy Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (0 years, 6 months) |
|
Greg Hayton |
Currently: NZ Fixed Income Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (2 years, 1 months) |
|
Nathan Field |
Currently: Head of Thematic Equities - Kiwi Wealth Investments Limited Partnership (12 years, 7 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 | 0.02% | |
| Alcohol | 0.41% | |
| Animal Cruelty | 3.58% | |
| Fossil Fuels | 2.81% | |
| Gambling | 0.33% | |
| GMOs | 0.05% | |
| Human Rights & Environmental Violations | 2.37% | |
| Palm Oil | 0.02% | |
| Tobacco | 0.04% | |
| Weapons | 0.33% |
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 |
|---|
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
-
Ishares ESG Global Bond Index Fund - Class E Units
Australia Int Fixed Interest19.57% -
Westpac NZD Account
New Zealand Cash and Equivalents AA-2.63% -
Apple Inc
United States International Equities2.08% -
Microsoft Corp
United States International Equities1.76% -
BNP USD Cash (Receivables)
United States Cash and Equivalents A+1.11% -
Fisher & Paykel Healthcare Corp Ltd
New Zealand Australasian Equities1.05% -
New Zealand Local Government Funding Agency Bond 4.5% 15/4/2027
New Zealand NZ Fixed Interest AAA1.05% -
New Zealand Local Government Funding Agency Bond 1.5% 20/4/2029
New Zealand NZ Fixed Interest AAA0.95% -
Spark New Zealand Ltd
New Zealand Australasian Equities0.82% -
Kommunalbanken As 1.25% 2/7/2030
Norway Int Fixed Interest AAA0.78%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 4.84% |
| New Zealand Fixed Interest | 20.0% | 8.89% |
| International Fixed Interest | 20.0% | 26.57% |
| Australasian Equities | 9.0% | 9.38% |
| International Equities | 51.0% | 48.33% |
| Listed Properties | 0.0% | 1.99% |
| 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.