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:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Meta Platforms Inc-Class A 0.70%
    • Thermo Fisher Scientific Inc 0.47%
    • Uber Technologies Inc 0.07%
    • Thermo Fisher Scientific 0.05%
    • Nestle SA-Reg 0.03%
    • Nutrien Ltd 0.01%
    • LVMH Moet Hennessy Louis Vui 0.59%
    • Procter & Gamble Co/The 0.19%
    • Estee Lauder Companies-Cl A 0.05%
    • Kering 0.05%
    • Rentokil Initial PLC 0.02%
    • Colgate-Palmolive Co 0.01%
    • Nutrien Ltd 0.01%
    • Reliance Industries Ltd 0.01% !!
      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
    • Symrise AG 0.01%
    • Unilever PLC 0.01%
    • Unilever PLC-Sponsored Adr 0.01%
    • Walmart Inc 0.24%
    • Amphenol Corp-Cl A 0.22%
    • Airbus Se 0.02%
    • Amphenol Corp 0.02%
    • Daikin Industries Ltd 0.01%
    • Teledyne Technologies Inc 0.01%
    • Contact Energy Ltd 2.65% 1.5°C
      This company is on a 1.5°C pathway
    • BP PLC-Spons Adr 0.54% !!
      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
    • Cheniere Energy Inc 0.46% !!
      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
    • Franco-Nevada Corp 0.24%
    • Eqt Corp 0.16% !!
      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
    • BHP Group PLC 0.02% !!
      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
    • Conocophillips 0.02% !!
      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
    • Constellation Energy 0.02%
    • Eog Resources Inc 0.02% !!
      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
    • Galp Energia Sgps SA 0.02% !!
      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
    • Hess Corp 0.02% !!
      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
    • Ck Hutchison Holdings Ltd 0.01%
    • Endesa SA 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Mitsui & Co Ltd 0.01% !!
      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
    • National Grid PLC 0.01% !!
      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
    • Reliance Industries Ltd 0.01% !!
      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
    • Samsung C&T Corp 0.01%
    • Total SA 0.01%

Fund Provider Response

We invest in fossil fuel companies because energy is an essential resource for modern life, and we believe it is better to invest in the companies that are relative ESG leaders in the sector rather than ignoring the sector entirely.
We take a holistic approach to assessing a company's prospective ESG leadership, including the carbon intensity of current oil production facilities, initiatives to reduce this carbon intensity to help meet net zero goals, capital allocation policies including for green energy initiatives, and ESG scores on both the MSCI and Sustainalytics ratings scales.

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. 2023 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

The Balanced Fund aims to provide a medium return over the medium term. It invests in an actively managed portfolio made up of slightly more growth asssets than income assets. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times.

Generate is an award-winning KiwiSaver and wealth provider with a track record of strong, long-term performance through responsible investment. Generate was awarded both Investor Choice and Adviser Choice Awards at the Research IP Funds Manager of the year awards 2022 and also received a Consumer NZ People’s Choice Award for KiwiSaver.

Value $167M NZD
Period of data report 30th Sept. 2023
Members 5,827
Fund started 16th May 2022
Total annual fund fees 1.25%
Total performance based fees 0.0%
Manager's basic fee 1.16%
Other management and administration charges 0.09%
Total other charges 36.0
Total other charges currency NZD

Sam Goldwater

Currently: Chief Investment Officer/Investment Committee Member/Executive Director (10 years, 6 months)
Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)

Daniel Frost

Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (5 years, 8 months)
Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

Andrew Bolland

Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (4 years, 3 months)
Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

Ayrton Oliver

Currently: Portfolio Manager - Fixed Income (2 years, 6 months)
Previously: Vice President, JP Morgan Chief Investment Office, International Rates and FX Portfolio Management (7 years, 0 months)

Nathan Field

Currently: Portfolio Manager - Global Equities (0 years, 7 months)
Previously: Portfolio Manager, Global Thematic Fund, Kiwi Wealth (13 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30th Sept. 2023.

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 30th Sept. 2023.

Top 10 Investments

  • ASB NZ Dollar Cash Account
    New Zealand Cash and Equivalents A1
    6.11%
  • Infratil
    New Zealand Australasian Equities
    3.68%
  • T Rowe Price Global Equity Fund
    Australia International Equities
    3.26%
  • Spark
    New Zealand Australasian Equities
    2.75%
  • Contact Energy
    New Zealand Australasian Equities
    2.65%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    1.87%
  • Mercury Energy
    New Zealand Australasian Equities
    1.55%
  • Auckland International Airport Ltd
    New Zealand Listed Property
    1.5%
  • Te Ahumairangi Global Equity Fund
    New Zealand International Equities
    1.36%
  • Microsoft
    United States International Equities
    1.31%
Type Target Actual
Cash and Cash Equivalents 5.0% 6.18%
New Zealand Fixed Interest 28.0% 30.34%
International Fixed Interest 7.0% 4.81%
Australasian Equities 15.0% 19.49%
International Equities 30.0% 30.3%
Listed Properties 15.0% 8.64%
Unlisted Properties 0.0% 0.24%
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 30th Sept. 2023.