Funds

Kernel KiwiSaver S&P Global Clean Energy Fund

Total Ethical Concerns: 31.15%

The average total concerns of all KiwiSaver aggressive funds is 10.67%.

Companies of Concern

  • Human Rights Violations 1.55%

    • Centrais Elétricas Brasileiras SA
      1.55%
      1.55%
  • Fossil Fuels 31.15%

    • Edp-Energias De Portugal SA
      5.59%
      1.5°C
      This company is on a 1.5°C pathway
      5.59%
    • E.On Se
      5.37%
      5.37%
    • Chubu Electric Power Co., Inc.
      4.85%
      4.85%
    • Snam Spa
      3.34%
      !!
      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
      3.34%
    • Fortum Oyj
      2.26%
      2.26%
    • Northland Power, Inc.
      1.67%
      1.67%
    • Clearway Energy, Inc.
      1.58%
      1.58%
    • Centrais Elétricas Brasileiras SA
      1.55%
      1.55%
    • Bkw AG
      1.29%
      1.29%
    • Neste Corp.
      1.25%
      1.25%
    • Algonquin Power & Utilities Corp.
      1.24%
      1.24%
    • ERG SpA
      0.63%
      0.63%
    • Contact Energy Ltd.
      0.55%
      1.5°C
      This company is on a 1.5°C pathway
      0.55%

From the Fund Provider

  • About this fund

    About this Fund

    The Kernel S&P Global Clean Energy Fund tracks the S&P Developed Ex-Korea Clean Energy Index. This fund invests in companies from developed markets with significant or total clean energy exposure and low carbon-to-revenue footprints according to independent assessors Trucost

    Value $645k NZD
    Period of data report 31st March 2025
    Members 154
    Fund started 11th April 2022
    Total annual fund fees 0.45%
    Total performance based fees 0.0%
    Manager's basic fee 0.45%
    Other management and administration charges 0.0%
    Total other charges 0.0
    Total other charges currency NZD

    Dean Anderson

    Currently: Chief Executive (6 years, 6 months)
    Previously: Smartshares Product Manager, NZX (4 years, 4 months)

    Stephen Upton

    Currently: Chief Operating Officer (5 years, 9 months)
    Previously: Smartshares Chief Operating Officer - NZX (3 years, 6 months)

    Kerry Mcintosh

    Currently: Chairman (5 years, 9 months)
    Previously: Operating Partner, Zino Ventures (current) (7 years, 1 months)

    Vicki Dale

    Currently: Investment Committee Member (2 years, 4 months)
    Previously: Risk and Compliance Manager, Kernel Wealth (current) (3 years, 5 months)

    Rhea Prasad

    Currently: Portfolio Manager (2 years, 4 months)
    Previously: Investment Dealer, Pie Funds (1 years, 3 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 4.37% -14.71%
    2024 16.75% -23.15%

    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

    • Vestas Wind Systems As (EUR)

      Denmark International Equities

      8.48%
    • Iberdrola SA

      Spain International Equities

      7.08%
    • Sse PLC Ord

      United Kingdom International Equities

      6.55%
    • Energias De Portugal SA

      Portugal International Equities

      5.59%
    • First Solar Inc

      United States International Equities

      5.45%
    • E.On Se

      Germany International Equities

      5.37%
    • Enphase Energy Inc (Nasdaq)

      United States International Equities

      5.23%
    • Chubu Electric Power Co Inc

      Japan International Equities

      4.85%
    • Orsted (EUR)

      Denmark International Equities

      4.7%
    • Nextracker Inc Class A

      United States International Equities

      3.81%
    Type Target Actual
    Cash and Cash Equivalents 0.0% 0.08%
    New Zealand Fixed Interest 0.0% 0.0%
    International Fixed Interest 0.0% 0.0%
    Australasian Equities 0.0% 1.27%
    International Equities 100.0% 98.65%
    Listed Properties 0.0% 0.0%
    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 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

  • 0.0% Animal Cruelty
  • 1.55% Human Rights Violations
  • 0.0% Social Harm
  • 31.15% Fossil Fuels
  • 0.0% Weapons
  • 0.0% Environmental Harm

Companies of Concern

  • Human Rights Violations

    • Centrais Elétricas Brasileiras SA
      1.55%
      1.55%
  • Fossil Fuels

    • Edp-Energias De Portugal SA
      5.59%
      1.5°C
      This company is on a 1.5°C pathway
      5.59%
    • E.On Se
      5.37%
      5.37%
    • Chubu Electric Power Co., Inc.
      4.85%
      4.85%
    • Snam Spa
      3.34%
      !!
      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
      3.34%
    • Fortum Oyj
      2.26%
      2.26%
    • Northland Power, Inc.
      1.67%
      1.67%
    • Clearway Energy, Inc.
      1.58%
      1.58%
    • Centrais Elétricas Brasileiras SA
      1.55%
      1.55%
    • Bkw AG
      1.29%
      1.29%
    • Neste Corp.
      1.25%
      1.25%
    • Algonquin Power & Utilities Corp.
      1.24%
      1.24%
    • ERG SpA
      0.63%
      0.63%
    • Contact Energy Ltd.
      0.55%
      1.5°C
      This company is on a 1.5°C pathway
      0.55%

About this Fund

The Kernel S&P Global Clean Energy Fund tracks the S&P Developed Ex-Korea Clean Energy Index. This fund invests in companies from developed markets with significant or total clean energy exposure and low carbon-to-revenue footprints according to independent assessors Trucost

Value $645k NZD
Period of data report 31st March 2025
Members 154
Fund started 11th April 2022
Total annual fund fees 0.45%
Total performance based fees 0.0%
Manager's basic fee 0.45%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Dean Anderson

Currently: Chief Executive (6 years, 6 months)
Previously: Smartshares Product Manager, NZX (4 years, 4 months)

Stephen Upton

Currently: Chief Operating Officer (5 years, 9 months)
Previously: Smartshares Chief Operating Officer - NZX (3 years, 6 months)

Kerry Mcintosh

Currently: Chairman (5 years, 9 months)
Previously: Operating Partner, Zino Ventures (current) (7 years, 1 months)

Vicki Dale

Currently: Investment Committee Member (2 years, 4 months)
Previously: Risk and Compliance Manager, Kernel Wealth (current) (3 years, 5 months)

Rhea Prasad

Currently: Portfolio Manager (2 years, 4 months)
Previously: Investment Dealer, Pie Funds (1 years, 3 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 4.37% -14.71%
2024 16.75% -23.15%

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

  • Vestas Wind Systems As (EUR)

    Denmark International Equities

    8.48%
  • Iberdrola SA

    Spain International Equities

    7.08%
  • Sse PLC Ord

    United Kingdom International Equities

    6.55%
  • Energias De Portugal SA

    Portugal International Equities

    5.59%
  • First Solar Inc

    United States International Equities

    5.45%
  • E.On Se

    Germany International Equities

    5.37%
  • Enphase Energy Inc (Nasdaq)

    United States International Equities

    5.23%
  • Chubu Electric Power Co Inc

    Japan International Equities

    4.85%
  • Orsted (EUR)

    Denmark International Equities

    4.7%
  • Nextracker Inc Class A

    United States International Equities

    3.81%
Type Target Actual
Cash and Cash Equivalents 0.0% 0.08%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 0.0% 1.27%
International Equities 100.0% 98.65%
Listed Properties 0.0% 0.0%
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 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.