BNZ KiwiSaver Conservative Fund

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Type: Conservative fund
Past Returns: 3.50%

Average annual returns over the past 3 years, after fees and taxes. * indicates less than 3 years of data.

Annual Fees: 0.51%

Annual fees, including management and administration fees, but not membership fee.

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.


Fossil Fuel

Abu Dhabi National Energy Company PJSC 3.625% 12/01/2023 0.01%
Aker BP Asa 3% 15/01/2025 0.01%
Anglo American Capital PLC 3.625% 11/09/2024 0.01%
Anglo American PLC 0.01%
Atmos Energy Corp 4.125% 15/03/2049 0.01%
BHP Billiton Finance Ltd Medium Term Note 3% 29/05/2024 0.01%
BHP Billiton Finance Ltd Medium Term Note 3.25% 25/09/2024 0.01%
BHP Group PLC 0.01%
BP Capital Markets America Inc 2.75% 10/05/2023 0.01%
BP Capital Markets America Inc 3.937% 21/09/2028 0.01%
BP Capital Markets PLC 0.831% 08/11/2027 0.01%
BP Capital Markets PLC 1.573% 16/02/2027 0.01%
BP Capital Markets PLC 1.827% 08/09/2025 0.01%
Basf Se 0.02%
Basf Se 0.875% 06/10/2031 0.01%
Cez As Medium Term Note 0.875% 02/12/2026 0.01%
Chevron Corp 1.554% 11/05/2025 0.01%
Chevron Corp 1.995% 11/05/2027 0.01%
Chevron Corp 2.236% 11/05/2030 0.01%
Chevron Corp 2.978% 11/05/2040 0.01%
Chevron Corp 3.078% 11/05/2050 0.01%
Chevron Corporation 0.04%
China Cinda Finance (2017) I Ltd Medium Term Note 3.65% 09/03/2022 0.01%
Ck Hutchison International (19) Ltd 3.25% 11/04/2024 0.01%
Cnac Hk Finbridge Co Ltd 4.875% 14/03/2025 0.01%
Cnooc Finance 2013 Ltd 2.875% 30/09/2029 0.01%
Coca-Cola Co 0.375% 15/03/2033 0.01%
Coca-Cola Co 0.75% 22/09/2026 0.01%
Coca-Cola Co 0.8% 15/03/2040 0.01%
Coca-Cola Co 1.45% 01/06/2027 0.01%
Coca-Cola Co 2.5% 15/03/2051 0.01%
Coca-Cola Co/The 0.05%
Concho Resources Inc 4.85% 15/08/2048 0.01%
Conocophillips 0.01%
Conocophillips Co 4.95% 15/03/2026 0.01%
Dominion Energy Inc 0.02%
Dte Energy Ord Shs 0.01%
Electricite De France SA 3.625% 13/10/2025 0.01%
Electricite De France SA Medium Term Note 4.125% 25/03/2027 0.02%
Electricite De France SA Medium Term Note 6.125% 02/06/2034 0.02%
Enbridge Inc 0.02%
Enbw Energie Baden Wuerttemberg AG 1.875% 29/06/2080 0.01%
Enel Finance International Nv 4.25% 14/09/2023 0.01%
Enel Finance International Nv Medium Term Note 0.375% 17/06/2027 0.02%
Enel Spa 0.02%
Enel Spa 2.25% 00/01/1900 0.01%
Enel Spa Medium Term Note 5.75% 22/06/2037 0.01%
Engie SA 0.01%
Engie SA 0.5% 24/10/2030 0.01%
Engie SA 1.375% 00/01/1900 0.01%
Engie SA Medium Term Note 1.875% 19/09/2033 0.01%
Engie SA Medium Term Note 2.625% 20/07/2022 0.01%
Engie SA Medium Term Note 7% 30/10/2028 0.01%
Eni Spa 0.01%
Eni Spa Medium Term Note 3.75% 12/09/2025 0.01%
Eog Resources Inc 0.01%
Equinor Asa 3.95% 15/05/2043 0.01%
Equinor Asa Medium Term Note 1.25% 17/02/2027 0.01%
Esb Finance Dac Medium Term Note 1.125% 11/06/2030 0.01%
Exxon Mobil Corp 0.04%
Exxon Mobil Corp 1.408% 26/06/2039 0.01%
Exxon Mobil Corp 1.571% 15/04/2023 0.01%
Franco-Nevada Corp 0.01%
Gaz Capital SA Medium Term Note 5.15% 11/02/2026 0.01%
Gazprom Ord Shs 0.01%
Glencore Capital Finance 1.125% 10/03/2028 0.01%
Glencore Finance (Europe) Ltd Medium Term Note 1.875% 13/09/2023 0.01%
Glencore Funding Llc 4.875% 12/03/2029 0.01%
Glencore PLC 0.01%
Hess Corp 7.125% 15/03/2033 0.01%
Iberdrola Finanzas SA Medium Term Note 1.25% 28/10/2026 0.01%
Iberdrola SA 0.02%
Itochu Corp 0.01%
Kinder Morgan Inc/De 0.01%
Korea Gas Corp Medium Term Note 0% 28/11/2023 0.01%
Lukoil PJSC 0.01%
Lyb International Finance Ii Bv 3.5% 02/03/2027 0.01%
Magellan Midstream Partners Lp 3.25% 01/06/2030 0.01%
Marathon Petroleum Corp 0.01%
Mitsubishi Corp 0.01%
Mitsui & Co Ltd 0.01%
Naturgy Finance Bv Medium Term Note 1.25% 15/01/2026 0.01%
Neste Ord Shs 0.01%
New Zealand Refining Ltd 0.02%
Nextera Energy Capital Holdings- Inc. 2.75% 01/05/2025 0.01%
Nextera Energy Inc 0.04%
OMV AG 2.5% 00/01/1900 0.01%
OMV AG Medium Term Note 4.25% 12/10/2021 0.01%
Omers Finance Trust 0.45% 13/05/2025 0.02%
Orsted Ord Shs 0.01%
Petroleo Brasileiro SA Petrobras 0.01%
Phillips 66 0.01%
Posco 2.75% 15/07/2024 0.01%
Pt Pertamina (Persero) 3.1% 21/01/2030 0.01%
Puget Sound Energy Inc 5.795% 15/03/2040 0.01%
Reliance Industries Ltd 0.01%
Repsol Intl Finance 0.25% 02/08/2027 0.01%
Rio Tinto PLC 0.02%
Royal Dutch Shell PLC - B Shs 0.01%
Royal Dutch Shell PLC-A Shs 0.01%
Rwe AG 0.01%
Saudi Arabian Oil Co Medium Term Note 3.5% 16/04/2029 0.01%
Shell International Finance Bv 1.625% 20/01/2027 0.01%
Shell International Finance Bv 3.4% 12/08/2023 0.01%
Shell International Finance Bv 4.375% 11/05/2045 0.01%
Shell International Finance Bv Medium Term Note 1.125% 07/04/2024 0.01%
Sinopec Group Overseas Development (2013) Ltd 5.375% 17/10/2043 0.02%
Sse PLC 4.75% 16/09/2077 0.01%
Sunoco Logistics Partners Operations Lp 3.9% 15/07/2026 0.01%
Tc Energy Corp 0.01%
Total Capital International SA 3.455% 19/02/2029 0.01%
Total Capital International SA Medium Term Note 0.696% 31/05/2028 0.01%
Total Capital International SA Medium Term Note 2.125% 19/11/2021 0.01%
Total Capital International SA Medium Term Note 2.625% 00/01/1900 0.01%
Total SA 0.02%
Vale SA 0.01%
Valero Energy Corp 0.01%
Wec Energy Group Ord Shs 0.01%
Xcel Energy Inc 3.4% 01/06/2030 0.01%
Xcel Energy Ord Shs 0.01%

Weapons

Amphenol Corp-Cl A 0.01%
Transdigm Group Inc 0.01%

Tobacco

Alimentation Couche-Tard Inc 0.01%
Seven & I Holdings Co Ltd 0.01%

Gambling

Aristocrat Leisure Ltd 0.03%
Flutter Entertainment PLC 0.01%
Sands China Ltd 5.4% 08/08/2028 0.01%
Sky City Entertainment Group 0.10%

Alcohol

Anheuser Busch Inbev Nv Medium Term Note 1.125% 01/07/2027 0.01%
Anheuser Busch Inbev Nv Medium Term Note 2.25% 24/05/2029 0.02%
Anheuser Busch Inbev Nv Medium Term Note 2.875% 02/04/2032 0.01%
Anheuser-Busch Companies Llc 4.9% 01/02/2046 0.01%
Anheuser-Busch Inbev Finance Inc 4.625% 01/02/2044 0.01%
Anheuser-Busch Inbev Nv 0.01%
Anheuser-Busch Inbev Worldwide Inc 4.6% 15/04/2048 0.01%
Carlsberg Breweries A/S Medium Term Note 0.5% 06/09/2023 0.01%
Constellation Brands Inc 3.75% 01/05/2050 0.01%
Constellation Brands Inc-A 0.01%
Delegat Group Ltd 0.02%
Diageo PLC 0.02%
Heineken Nv 0.01%
Heineken Nv Medium Term Note 1% 04/05/2026 0.01%
Kweichow Moutai Co Ltd-A 0.01%
LVMH Moet Hennessy Louis Vui 0.03%
LVMH Moet Hennessy Louis Vuitton Se Medium Term Note 0.75% 07/04/2025 0.01%
Pernod Ricard SA 0.01%

Palm Oil

Cargill Inc 1.375% 23/07/2023 0.01%
Posco 2.75% 15/07/2024 0.01%

GMOs

Corteva Inc 0.01%

Human Rights & Environmental Violations

Archer-Daniels-Midland Co 0.01%
BHP Billiton Finance Ltd Medium Term Note 3% 29/05/2024 0.01%
BHP Billiton Finance Ltd Medium Term Note 3.25% 25/09/2024 0.01%
BHP Group PLC 0.01%
Barrick Gold Corp 0.01%
Cargill Inc 1.375% 23/07/2023 0.01%
Chevron Corporation 0.04%
Duke Energy Corp 0.02%
Duke Energy Corp 3.15% 15/08/2027 0.01%
Essity Aktiebolag-B 0.01%
Freeport - Mcmoran Copper 0.01%
Glencore Capital Finance 1.125% 10/03/2028 0.01%
Glencore Finance (Europe) Ltd Medium Term Note 1.875% 13/09/2023 0.01%
Glencore Funding Llc 4.875% 12/03/2029 0.01%
Glencore PLC 0.01%
Johnson & Johnson 0.11%
Johnson & Johnson 0.55% 01/09/2025 0.01%
Johnson & Johnson 1.15% 20/11/2028 0.01%
Johnson & Johnson 3.625% 03/03/2037 0.01%
Nestle Finance International Ltd SA Medium Term Note 0.375% 18/01/2024 0.01%
Nestle Finance International Ltd SA Registered Certificate Of Deposit 12/11/2024 0.01%
Nestle Holdings Inc 0.875% 18/07/2025 0.01%
Nestle Holdings Inc 1.375% 13/07/2021 0.01%
Nestle Holdings Inc 3.625% 24/09/2028 0.01%
Nestle Holdings Inc 4% 24/09/2048 0.01%
Nestle SA-Reg 0.09%
Nutrien Ltd 4% 15/12/2026 0.01%
Nutrien Ord Shs 0.01%
Petroleo Brasileiro SA Petrobras 0.01%
Posco 2.75% 15/07/2024 0.01%
Rio Tinto PLC 0.02%
Royal Dutch Shell PLC - B Shs 0.01%
Royal Dutch Shell PLC-A Shs 0.01%
Sempra Energy 0.01%
Shell International Finance Bv 1.625% 20/01/2027 0.01%
Shell International Finance Bv 3.4% 12/08/2023 0.01%
Shell International Finance Bv 4.375% 11/05/2045 0.01%
Shell International Finance Bv Medium Term Note 1.125% 07/04/2024 0.01%
Vale SA 0.01%

Animal Testing

Air Liquide Finance SA Medium Term Note 0.375% 18/04/2022 0.010%
Air Liquide SA 0.020%
Air Products and Chemicals- Inc. 0.020%
Air Products and Chemicals- Inc. 1.85% 15/05/2027 0.010%
Akzo Nobel Nv 0.010%
Akzo Nobel Nv Medium Term Note 2.625% 27/07/2022 0.010%
Archer-Daniels-Midland Co 0.010%
Argentum Netherlands Bv Medium Term Note 3.5% 01/10/2046 0.010%
Basf Se 0.020%
Basf Se 0.875% 06/10/2031 0.010%
Bayer AG-Reg 0.020%
Bayer Aktiengesellschaft 0.75% 06/01/2027 0.010%
Bayer Capital Corp Bv 1.5% 26/03/2026 0.010%
Bayer US Finance Ii Llc 4.25% 15/10/2025 0.010%
Cargill Inc 1.375% 23/07/2023 0.010%
Chevron Corporation 0.040%
Church and Dwight Ord Shs 0.010%
Clorox Company 0.010%
Cnac Hk Finbridge Co Ltd 4.875% 14/03/2025 0.010%
Coca-Cola Co 0.375% 15/03/2033 0.010%
Coca-Cola Co 0.75% 22/09/2026 0.010%
Coca-Cola Co 0.8% 15/03/2040 0.010%
Coca-Cola Co 1.45% 01/06/2027 0.010%
Coca-Cola Co 2.5% 15/03/2051 0.010%
Coca-Cola Co/The 0.050%
Colgate-Palmolive Co 0.020%
Corteva Inc 0.010%
Danone 0.010%
Dow Chemical Co 0.5% 15/03/2027 0.010%
Dow Chemical Co 4.25% 01/10/2034 0.010%
Dow Inc 0.010%
Du Pont De Nemours 0.010%
Dupont De Nemours Inc 4.725% 15/11/2028 0.010%
Ecolab Inc 0.010%
Essity Aktiebolag-B 0.010%
Estee Lauder Cos Inc/The 0.010%
General Mills Inc 0.010%
Givaudan Ord Shs 0.010%
Glaxosmithkline Capital PLC Medium Term Note 1.625% 12/05/2035 0.020%
Glaxosmithkline Capital PLC Medium Term Note 3.375% 20/12/2027 0.010%
Glaxosmithkline PLC 0.020%
Henkel AG & Co Kgaa 0.010%
Hermes International 0.010%
Hp Inc 2.2% 17/06/2025 0.010%
Johnson & Johnson 0.110%
Johnson & Johnson 0.55% 01/09/2025 0.010%
Johnson & Johnson 1.15% 20/11/2028 0.010%
Johnson & Johnson 3.625% 03/03/2037 0.010%
Kao Corporation 0.010%
Kerry Group Ord Shs 0.010%
Kimberly-Clark Corp 0.010%
Koninkilijke Dsm Ord Shs 0.010%
Kraft Heinz Co/The 0.010%
L'Oreal SA 0.020%
LVMH Moet Hennessy Louis Vui 0.030%
LVMH Moet Hennessy Louis Vuitton Se Medium Term Note 0.75% 07/04/2025 0.010%
Linde PLC 0.030%
Lyb International Finance Ii Bv 3.5% 02/03/2027 0.010%
Mondelez International Inc 1.5% 04/05/2025 0.010%
Mondelez International Inc-A 0.020%
Nestle Finance International Ltd SA Medium Term Note 0.375% 18/01/2024 0.010%
Nestle Finance International Ltd SA Registered Certificate Of Deposit 12/11/2024 0.010%
Nestle Holdings Inc 0.875% 18/07/2025 0.010%
Nestle Holdings Inc 1.375% 13/07/2021 0.010%
Nestle Holdings Inc 3.625% 24/09/2028 0.010%
Nestle Holdings Inc 4% 24/09/2048 0.010%
Nestle SA-Reg 0.090%
Nutrien Ltd 4% 15/12/2026 0.010%
Nutrien Ord Shs 0.010%
PPG Industries Inc 0.010%
Pepsico Inc 0.050%
Pepsico Inc 0.875% 16/10/2039 0.010%
Pepsico Inc 2.75% 19/03/2030 0.010%
Pepsico Inc 3.5% 19/03/2040 0.010%
Praxair Inc 1.625% 01/12/2025 0.010%
Praxair Inc 2% 10/08/2050 0.010%
Procter & Gamble Co 0.5% 25/10/2024 0.010%
Procter and Gamble Co/The 0.090%
Pvh Corp 3.125% 15/12/2027 0.010%
Reckitt Benckiser Group PLC 0.020%
Reckitt Benckiser Tsy 2.75% 26/06/2024 0.010%
Reliance Industries Ltd 0.020%
Royal Dutch Shell PLC - B Shs 0.010%
Royal Dutch Shell PLC-A Shs 0.010%
Seven & I Holdings Co Ltd 0.010%
Shell International Finance Bv 1.625% 20/01/2027 0.010%
Shell International Finance Bv 3.4% 12/08/2023 0.010%
Shell International Finance Bv 4.375% 11/05/2045 0.010%
Shell International Finance Bv Medium Term Note 1.125% 07/04/2024 0.010%
Sherwin-Williams Co/The 0.020%
Shin-Etsu Chemical Co Ltd 0.010%
Shiseido Co Ltd 0.010%
Tesco Corporate Treasury Services PLC Medium Term Note 1.375% 24/10/2023 0.010%
Tesco PLC 0.010%
Tesco Property Finance 1 PLC 7.6227% 13/07/2039 0.010%
Unilever Capital Corp 0.375% 14/09/2023 0.010%
Unilever Capital Corp 3.125% 22/03/2023 0.010%
Unilever Nv 0.5% 12/08/2023 0.010%
Unilever Nv 1.75% 25/03/2030 0.010%
Unilever Nv-Cva 0.020%
Unilever PLC 0.020%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Wed Sept. 30th 2020 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.

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.

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
2021 8.80% 5.49%
2020 0.59% 1.77%
2019 4.26% 3.24%
2018 3.73% 4.24%
2017 4.10% 4.67%
2016 3.52% 2.16%
2015 8.10% 7.45%
2014 3.88% 3.37%

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 Wed March 31st 2021.

Showing the top 10 investments for this fund:

  • BNP Paribas Bank Account USD
    United States Cash and Equivalents A+
    2.31%
  • BNP Paribas Bank Account NZD
    New Zealand Cash and Equivalents A+
    1.78%
  • Bank Of New Zealand Registered Certificate Of Deposit 05/08/2021
    New Zealand NZ Fixed Interest AA-
    1.38%
  • Westpac Call Account
    New Zealand Cash and Equivalents AA-
    1.08%
  • New Zealand Local Government Funding Agency Ltd. Registered Certificate Of Deposit 13/09/2021
    New Zealand NZ Fixed Interest AAA
    1.0%
  • NZ Government Bond 3% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    0.94%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    0.83%
  • NZ Government Bond 3.5% 14/04/2033
    New Zealand NZ Fixed Interest AAA
    0.8%
  • Industrial and Commercial Bank Of China Ltd. Registered Certificate Of Deposit 25/05/2021
    New Zealand NZ Fixed Interest A
    0.75%
  • China Construction Bank (New Zealand) Limited Registered Certificate Of Deposit 09/06/2021
    New Zealand NZ Fixed Interest A
    0.75%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Wed March 31st 2021.

How the money in this fund is invested against the fund's targets.

Target

Actual


Type Target Actual
Cash and Cash Equivalents 25.0% 28.36%
New Zealand Fixed Interest 14.0% 12.8%
International Fixed Interest 41.0% 40.37%
Australasian Equities 7.0% 5.9%
International Equities 13.0% 12.57%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Wed March 31st 2021.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.23%
  • Animal Testing:
    1.57%
  • Fossil Fuels:
    1.48%
  • Gambling:
    0.15%
  • GMOs:
    0.01%
  • Human Rights & Environmental Violations:
    0.62%
  • Palm Oil:
    0.02%
  • Tobacco:
    0.02%
  • Weapons:
    0.02%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Wed Sept. 30th 2020 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 the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"The Conservative Fund invests mostly in income assets which generally have lower levels of risk with the potential for lower returns. It also has a modest allocation to growth assets which generally have higher levels of risk and potential returns. It aims to achieve relatively stable returns over the short to medium term."

Value $910M NZD
Period of data report Wed March 31st 2021
Members 68,608
Fund started Mon Feb. 11th 2013
Total annual fund fees 0.51%
Total performance based fees 0.0%
Manager's basic fee 0.51%
Administration charges 0.0%
Total other charges 1.95
Total other charges currency NZD

Key Personnel

Richard Morath

Currently: Director BNZ Investment Services Limited (7 years, 9 months)
Previously: Non-Executive Director BNZ Life Insurance Limited (current position) (17 years, 4 months)

Richard Ansell

Currently: Director BNZ Investment Services Limited (2 years, 1 months)
Previously: Member BNZ Investment Review Committee (current position) (2 years, 1 months)

Hayley Cassidy

Currently: Director BNZ Investment Services Limited (1 years, 11 months)
Previously: Executive Chief General Counsel BNZ (current position) (0 years, 1 months)

Paul Richardson

Currently: Director BNZ Investment Services Limited (1 years, 4 months)
Previously: Managing Director Carina Capital Limited (current position) (2 years, 8 months)

Daniel Huggins

Currently: Director BNZ Investment Services Limited (0 years, 8 months)
Previously: Executive - Customer Products & Services BNZ (current position) (1 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Wed March 31st 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Latest news

You should be prudent about your investment.

Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital invested. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Advisers Act 2008 and any associated regulations.

Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.