Funds
Generate Stepping Stones Growth 76+ Fund
Fund type: Conservative fund
Past Returns: *3.82%Annual Fees: 1.09%
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
Human Rights Violations
-
Meta Platforms Inc-Class A 0.21%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
META PLATFORMS INC-CLASS A Public Safety
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as for allowing its platform in non-English speaking countries to be used to incite ethnic violence.
-
Thermo Fisher Scientific Inc 0.10%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
THERMO FISHER SCIENTIFIC INC Human Rights Abuses
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
-
Meta Platforms Inc-Class A 0.21%
Animal Cruelty
-
LVMH Moet Hennessy Louis Vui 0.10%
Animal Welfare Issues
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
-
Procter & Gamble Co/The 0.09%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
L'Oreal 0.04%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'OREAL Animal Testing
L'Oréal is a personal care company and cosmetics company concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
-
LVMH Moet Hennessy Louis Vui 0.10%
Weapons
-
Walmart Inc 0.11%
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
WALMART INC Firearms
Walmart is the USA’s largest retailer by sales, selling a variety of general merchandise and grocery items. Walmart retails shotguns, pistols and ammunition at some of its stores in the USA, as well as components for firearms such as scopes. Walmart is currently working to improve their weapon-related controls.
-
Amphenol Corp-Cl A 0.04%
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
-
Walmart Inc 0.11%
Fossil Fuels
-
Contact Energy Ltd 1.08%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
CONTACT ENERGY LTD Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel, and evidence shows that energy generated from fossil fuels accounts for 17% of generating capacity and 8% of the company’s revenues. However, Contact has announced plans for further investment in renewable generation. This includes NZD $1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Cheniere Energy Inc 0.15%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
BP PLC-Spons Adr 0.14%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Franco-Nevada Corp 0.12%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Eqt Corp 0.11%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Conocophillips 0.08%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Contact Energy Ltd 1.08%
1.5°C
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 31st March 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
In their own words
The Stepping Stones Growth 76+ years old investment option aims to provide a modest return over the short term. It invests in an actively managed portfolio made up largely of income assets with a small allocation of growth asssets. Volatility is likely to be low to medium. Returns will vary and may be low or negative at times.
Value | $400k NZD |
Period of data report | 30th June 2023 |
Members | 1 |
Fund started | 16th May 2022 |
Total annual fund fees | 1.09% |
Total performance based fees | 0.0% |
Manager's basic fee | 1.05% |
Other management and administration charges | 0.03% |
Total other charges | 36.0 |
Total other charges currency | NZD |
Key Personnel
Sam Goldwater |
Currently: Chief Investment Officer/Investment Committee Member/Executive Director (10 years, 3 months) |
Daniel Frost |
Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (5 years, 5 months) |
Andrew Bolland |
Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (4 years, 0 months) |
Ayrton Oliver |
Currently: Portfolio Manager - Fixed Income (2 years, 3 months) |
Nathan Field |
Currently: Portfolio Manager - Global Equities (0 years, 4 months) |
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30th June 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 June 2023.
Top 10 Investments
-
ASB NZ Dollar Cash Account
New Zealand Cash and Equivalents A17.63% -
Salvation Army Sep 2025 Bonds
New Zealand NZ Fixed Interest2.42% -
Kāinga Ora Jun 2025 Bonds
New Zealand NZ Fixed Interest AAA2.28% -
Kāinga Ora Sep 2035 Bonds
New Zealand NZ Fixed Interest AAA2.05% -
Nzlga Apr 2025 Bonds
New Zealand NZ Fixed Interest AAA2.02% -
Contact Energy Capital Bonds
New Zealand NZ Fixed Interest1.94% -
Centuria Industrial Property Dec 2027 Bonds
Australia Int Fixed Interest BBB1.9% -
Elim Education Oct 2026 Bonds
New Zealand NZ Fixed Interest1.76% -
Investore Property Feb 2027 Bonds
New Zealand NZ Fixed Interest1.75% -
Iag Jun 2038 Bonds
Australia Int Fixed Interest BBB1.63%
Type | Target | Actual |
---|---|---|
Cash and Cash Equivalents | 5.0% | 6.54% |
New Zealand Fixed Interest | 60.0% | 63.27% |
International Fixed Interest | 15.0% | 11.59% |
Australasian Equities | 6.75% | 8.35% |
International Equities | 6.5% | 6.54% |
Listed Properties | 6.75% | 3.61% |
Unlisted Properties | 0.0% | 0.1% |
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 30th June 2023.