Funds
NZ Defence Force Growth Fund
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 Limited 0.94%
- Nextera Energy Inc 0.47%
- Sempra Energy 0.24%
- Dominion Energy 0.21%
- Entergy 0.19%
- Xcel Energy Inc 0.19%
- Enel Spa 0.18%
- Shell PLC Ord Eur0.07 0.18%
- Public Service Enterprise Group 0.16%
- Totalenergies Se 0.15%
- Emera Inc 0.13%
- Alliant Energy Corp Com 0.11%
- Enel Spa Eur1 0.11%
- Allete Inc 0.10%
- Eni Spa 0.10%
- Oasis Petroleum Inc 0.10%
- Snam Spa 0.10%
- Hera Spa 0.09%
- BHP Group Limited Ordinary Fully Paid 0.09%
- Duke Energy Corp Com USD 0.001 Post Rev Splt 0.09%
- Avista Corp 0.08%
- Dte Energy Co USD 0.08%
- Pg and E Corp 0.08%
- Santos Limited 0.08%
- Hf Sinclair Corpor Com Usd0.01 0.06%
- Mitsui & Co Ltd Jpy 0.06%
- Southern Co Com USD 0.06%
- Vale SA 0.06%
- Ck Asset Holdings Hk 0.05%
- Cosmo Energy Holdings Co Ltd 0.05%
- Hera Eur1 0.05%
- Iberdrola SA 0.05%
- Jizhong Energy Resources Co Ltd 0.05%
- Mitsubishi Corp Y50 0.05%
- Nippon Yusen Kk Npv Temp 0.05%
- OMV AG 0.05%
- Pinnacle West Capital Corp 0.05%
- Anglo American PLC 0.04%
- Enbridge Inc 0.04%
- Equinor Asa 0.04%
- Guangdong Investment Limited 0.04%
- Guanghui Energy Co Ltd 0.04%
- Hk Electric Investments Ltd 0.04%
- Ppl Corporation 0.04%
- American Electric Power Company Inc 0.03%
- Cheniere Energy Inc 0.03%
- Guizhou Panjiang Refined Coal Co Ltd 0.03%
- Harbour Energy PLC Ord Gbp0.00002 0.03%
- Japan Petroleum Exploration 0.03%
- Murphy Oil Corp 0.03%
- Repsol SA 0.03%
- Sojitz Corporation 0.03%
- Valero Energy Corp 0.03%
- Williams Companies Inc 0.03%
- Canadian Natural Resources 0.02%
- China Petroleum & Chemical 0.02%
- Chugoku Electric Power Co 0.02%
- Dt Midstream Inc Com Usd0.01 0.02%
- Iberdrola SA Eur0.75 0.02%
- Marubeni Corporation 0.02%
- Neste Oyj 0.02%
- Nextera Energy Capital Holdings Inc 0.02%
- Nippon Steel Trading Corporation 0.02%
- Oneok Inc 0.02%
- Osk Mitsui Osk Lines Ltd 0.02%
- Parkland Corp 0.02%
- Pembina Pipeline 0.02%
- Petrochina Co Ltd 0.02%
- Petrochina Co Ltd H 0.02%
- Phillips 66 Com Usd0.01 0.02%
- Saudi Arabian Oil 0.02%
- Tc Energy Corp 0.02%
- Tohoku Electric Power Jpy 0.02%
- Cez As 0.01%
- Ck Hutchison International 21 Ltd 1.5% Due 04-15-2026 Beo 0.01%
- Enel Fin Intl Nv Fixed 4.25% Due 06-15-2025 0.01%
- Itochu Enex Co Ltd 0.01%
- Keyera Corp Com 0.01%
- National Grid PLC Disc Coml Paper 4/2 Yrs 3&4 10-13-2022 0.01%
- Perusahaan Gas Negara Pt 0.01%
- Posco Holdings Inc 0.01%
- Santos Finance Ltd 4.125% Gtd Snr 14/09/27 USD 0.01%
Weapons
- Mtu Aero Engines AG 0.05%
Tobacco
- Performance Food Group Co 0.12%
- Casey'S General Stores Inc 0.03%
- Eve Energy Co Ltd 0.02%
Gambling
- Skycity Entertainment Group Limited 0.33%
- Vici Properties Inc 0.12%
- Opap SA 0.01%
Alcohol
- Constellation Brands Inc-A 0.21%
- Royal Unibrew As 0.07%
- Treasury Wine Estates Limited 0.04%
- Heineken Holding Nv 0.03%
- Ambev SA Com Npv 0.02%
- Weichow Moutai Co Ltd 0.02%
- Ambev SA Adr Each Repr Ord Spons 0.01%
- Anhui Gujing Distillery Co Ltd 0.01%
- Diageo Ord 28 101/108P 0.01%
Human Rights & Environmental Violations
- Nestle SA 0.25%
- Johnson & Johnson Com US$1 0.18%
- Shell PLC Ord Eur0.07 0.18%
- Motorola Solutions Inc 0.17%
- Barrick Gold Corporation 0.13%
- Thermo Fisher Scientific Inc 0.10%
- BHP Group Limited Ordinary Fully Paid 0.09%
- Duke Energy Corp Com USD 0.001 Post Rev Splt 0.09%
- Activision Blizzard Inc 0.08%
- Pg and E Corp 0.08%
- Bayer AG 0.07%
- Rio Tinto PLC Ord 10P Gbp 0.07%
- Vale SA 0.06%
- Petroleo Brasileiro Petrobras SA 0.05%
- First International Bank Of Israel Ltd 0.04%
- China Petroleum & Chemical 0.02%
- Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.02%
- Nestle Holdings Inc 0.02%
- Petrochina Co Ltd 0.02%
- Petrochina Co Ltd H 0.02%
- Southern Copper Corporation 0.02%
- Wells Fargo & Company 0.02%
- Caterpillar Inc 0.01%
- Fmc Corp 0.01%
- Zte Corp 0.01%
Animal Cruelty
- Procter & Gamble Company 0.34%
- Pepsico Inc Cap US$0.01 2/3 0.28%
- Nestle SA 0.25%
- Constellation Brands Inc-A 0.21%
- Shell PLC Ord Eur0.07 0.18%
- Colgate Palmolive Usd1 0.14%
- Koninklijke Ahold Delhaize Nv 0.14%
- Eni Spa 0.10%
- Mondelez International Inc 0.10%
- Tyson Foods Inc Class A 0.10%
- Church & Dwight Co 0.09%
- Coca Cola Co USD 0.09%
- General Mills Inc 0.09%
- Kellogg Company 0.09%
- Kering 0.09%
- Kimberly Clark Corp Com Usd1.25 0.09%
- Nomad Foods Ltd 0.09%
- Bayer AG 0.07%
- Capri Holdings Ltd Com Npv 0.07%
- Estee Lauder Companies 0.07%
- Campbell Soup Co USD 0.06%
- Koninklijke Dsm Nv 0.06%
- Ping An Insurance Group Of China Limited 0.06%
- Air Liquide 0.05%
- Hermes International 0.05%
- Ingredion Inc Com USD 0.01 0.05%
- Mitsubishi Corp Y50 0.05%
- Sherwin Williams Com Usd1 0.05%
- L'Oreal 0.04%
- Nisshinbo Holdings Inc 0.04%
- Symrise AG 0.04%
- Unilever PLC 0.03%
- China Petroleum & Chemical 0.02%
- Darling Ingredients Inc 0.02%
- Ezaki Glico Co Ltd 0.02%
- Hokuto Corp 0.02%
- Hormel Foods Corporation 0.02%
- Inabata & Co Ltd 0.02%
- Kerry Group PLC 0.02%
- Mitsubishi Gas Chemical Co 0.02%
- Morinaga Milk Industry Co Ltd 0.02%
- Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.02%
- Nestle Holdings Inc 0.02%
- Orkla Asa 0.02%
- Pvh Corp Com Usd1.00 0.02%
- Rpm International Inc 0.02%
- Air Water Inc 0.01%
- Canon Inc 0.01%
- Cj Cheikjedang Corp 0.01%
- Fmc Corp 0.01%
- Pilgrims Pride Corp 0.01%
- Shinsegae Co Ltd 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
Invests predominantly in growth assets such as shares and real assets with only a limited amount in defensive assets such as fixed interest and cash. May be suitable for investors wanting to invest mostly in growth assets who are comfortable accepting more volatile returns than those expected from the Balanced fund with a view to achieving higher longer-term returns.
| Value | $40M NZD |
| Period of data report | 31st Dec. 2022 |
| Members | 1,862 |
| Fund started | 9th Oct. 2015 |
| Total annual fund fees | 1.04% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.75% |
| Other management and administration charges | 0.29% |
| Total other charges | 13.5 |
| Total other charges currency | NZD |
Key Personnel
|
Kristen Kohere-Soutar |
Currently: Chair - Mercer (N.Z.) Ltd (3 years, 1 months) |
|
Martin Lewington |
Currently: CEO - Mercer (N.Z.) Ltd (13 years, 10 months) |
|
Kylie Willment |
Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (5 years, 2 months) |
|
Robert Kavanagh |
Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (8 years, 9 months) |
|
Padraig Brown6 |
Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (0 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 | 0.00% | |
| Alcohol | 0.44% | |
| Animal Cruelty | 4.00% | |
| Fossil Fuels | 6.40% | |
| Gambling | 0.47% | |
| GMOs | 0.01% | |
| Human Rights & Environmental Violations | 2.00% | |
| Palm Oil | 0.02% | |
| Tobacco | 0.19% | |
| Weapons | 0.08% |
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 | 1.87% | 2.75% |
| 2021 | 27.41% | 24.75% |
| 2020 | -3.40% | -5.21% |
| 2019 | 6.95% | 5.35% |
| 2018 | 7.80% | 7.73% |
| 2017 | 9.24% | 9.05% |
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
-
First Sentier Investments Global Listed Infrastructure Fund
New Zealand Other4.47% -
Fx Positions
New Zealand Int Fixed Interest1.78% -
Westpac Business Interest Account
New Zealand Cash and Equivalents AA-1.73% -
BNP Paribas US Dollar Account
United States International Equities1.62% -
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities1.58% -
Robeco Global Credit Fund
Australia Int Fixed Interest1.42% -
Auckland International Airport Limited
New Zealand Australasian Equities1.09% -
Microsoft Corporation
United States International Equities1.09% -
BNP Paribas New Zealand Dollar Account
New Zealand International Equities1.0% -
Spark New Zealand Limited
New Zealand Australasian Equities1.0%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 1.0% | 3.37% |
| New Zealand Fixed Interest | 5.0% | 4.91% |
| International Fixed Interest | 14.0% | 13.73% |
| Australasian Equities | 15.5% | 15.18% |
| International Equities | 50.5% | 49.13% |
| Listed Properties | 7.0% | 6.66% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 7.0% | 7.02% |
| 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.