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

    • Contact Energy Ltd 1.61%
    • Exxon Mobil Corporation 1.55%
    • Chevron Corp 1.10%
    • Shell Ord 0.82%
    • BHP Group Ltd (Au Register) 0.53%
    • BP PLC 0.43%
    • Enbridge Inc 0.40%
    • National Grid PLC Ord 0.38%
    • Tc Energy Corporation 0.22%
    • Sempra Energy 0.20%
    • Channel Infrastructure NZ Ltd 0.19%
    • Cheniere Energy Inc 0.18%
    • Anglo American PLC 0.17%
    • The Williams Companies Inc 0.15%
    • Kinder Morgan Inc 0.14%
    • Consolidated Edison Inc 0.13%
    • Rwe AG 0.11%
    • Fortis Inc 0.10%
    • Oneok Inc 0.10%
    • Engie 0.09%
    • Pembina Pipeline Corporation 0.09%
    • Repsol SA 0.08%
    • Atmos Energy Corp 0.06%
    • Targa Resources Corp 0.06%
    • Hong Kong and China Gas Co Ltd 0.05%
    • Apa Group Stapled 0.04%
    • Nisource Inc 0.04%
    • Snam Spa 0.04%
    • Tokyo Gas Co 0.04%
    • Enagas SA Ord 0.02%
    • Keyera Corp 0.02%
    • Kunlun Energy Co. Ltd 0.02%
    • Naturgy Energy Group SA 0.02%
    • Antero Midstream Corp 0.01%
    • Gibson Energy Inc 0.01%
    • Northwestern Corp 0.01%
    • Spire Inc 0.01%
    • Wal-Mart Stores Inc 0.79%
    • Philip Morris International 0.55%
    • Sky City Entertainment Group Limited 0.57%
    • Diageo PLC 0.42%
    • Delegat Group Limited Ordinary Shares 0.14%
    • Johnson & Johnson 1.83%
    • Nestle SA (Ch Registry) 1.28%
    • Chevron Corp 1.10%
    • Shell Ord 0.82%
    • BHP Group Ltd (Au Register) 0.53%
    • Caterpillar Inc 0.37%
    • Rio Tinto PLC Ord (UK Register) 0.25%
    • Bayer AG-Reg 0.19%
    • Basf Se 0.15%
    • Pg&E Corporation 0.09%
    • Credit Suisse Group AG 0.04%
    • Exxon Mobil Corporation 1.55%
    • Procter & Gamble Co 1.29%
    • Nestle SA (Ch Registry) 1.28%
    • Chevron Corp 1.10%
    • Pepsico Inc 0.96%
    • The Coca-Cola Co 0.93%
    • Shell Ord 0.82%
    • LVMH-Moet Vuitton 0.67%
    • Philip Morris International 0.55%
    • Unilever PLC Ord 0.50%
    • 3M Company 0.26%
    • Colgate-Palmolive Co 0.25%
    • Bayer AG-Reg 0.19%
    • Kimberly-Clark 0.16%
    • Basf Se 0.15%
    • Dupont De Nemours Inc 0.11%
    • Canon Inc 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.

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

A diversified fund comprising several of the Kernel Funds, targeting high growth and suitable for long-term investors comfortable accepting higher volatility.

Value $15M NZD
Period of data report 31st Dec. 2022
Members 574
Fund started 11th April 2022
Total annual fund fees 0.25%
Total performance based fees 0.0%
Manager's basic fee 0.25%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Dean Anderson

Currently: Chief Executive (4 years, 3 months)
Previously: Smartshares Product Manager, NZX (4 years, 4 months)

Stephen Upton

Currently: Chief Operating Officer (3 years, 6 months)
Previously: Smartshares Chief Operating Officer - NZX (3 years, 6 months)

Kerry Mcintosh

Currently: Director (3 years, 6 months)
Previously: Operating Partner, Zino Ventures (current) (4 years, 10 months)

Paul Hocking

Currently: Director (3 years, 6 months)
Previously: Director, Trustee Executors Limited (10 years, 9 months)

Julian Knights

Currently: Director (2 years, 1 months)
Previously: Founding Partner, Ironbridge Capital (17 years, 8 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 0.57%
Animal Cruelty 10.86%
Fossil Fuels 9.27%
Gambling 0.57%
GMOs 0.00%
Human Rights & Environmental Violations 6.66%
Palm Oil 0.00%
Tobacco 0.55%
Weapons 0.79%

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

  • Apple Inc
    United States International Equities
    7.24%
  • Microsoft
    United States International Equities
    6.66%
  • Fisher & Paykel Healthcare Corp Ltd
    New Zealand Australasian Equities
    3.26%
  • Amazon.Com Inc
    United States International Equities
    2.78%
  • Spark New Zealand Limited (NZ Registered)
    New Zealand Australasian Equities
    2.52%
  • Auckland International Airport
    New Zealand Australasian Equities
    2.35%
  • Alphabet Inc Class A
    United States International Equities
    1.96%
  • Ebos
    New Zealand Australasian Equities
    1.75%
  • Alphabet Inc Class C
    United States International Equities
    1.75%
  • Johnson & Johnson
    United States International Equities
    1.72%
Type Target Actual
Cash and Cash Equivalents 2.0% 2.11%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 29.4% 30.59%
International Equities 63.6% 62.39%
Listed Properties 5.0% 4.91%
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.

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