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 0.23%
    • Credit Suisse Group AG 0.20%
    • Johnson & Johnson 0.19%
    • Nestle SA-Reg 0.16%
    • Nestle Holdings Inc 0.11%
    • Thermo Fisher Scientific Inc 0.11%
    • Credit Suisse New York 0.07%
    • Wells Fargo & Co 0.07%
    • Caterpillar Inc 0.06%
    • Activision Blizzard Inc 0.03%
    • Rio Tinto PLC 0.03%
    • Uber Technologies Inc 0.03%
    • Motorola Solutions Inc 0.02%
    • Rio Tinto Ltd 0.02%
    • Thermo Fisher Scientific 0.02%
    • Bank Hapoalim Bm 0.01%
    • Bank Leumi Le-Israel 0.01%
    • Centrais Eletricas Brasilier 0.01%
    • Grupo Mexico Sab De Cv-Ser B 0.01%
    • Li Ning Co Ltd 0.01%
    • Mtn Group Ltd 0.01%
    • Bayer AG-Reg 0.03%
    • Freeport-Mcmoran Inc 0.03%
    • Newcrest Mining Ltd 0.03%
    • Archer-Daniels-Midland Co 0.02%
    • Basf Se 0.02%
    • Corteva Inc 0.02%
    • Nutrien Ltd 0.02%
    • Barrick Gold Corp 0.01%
    • Bunge Ltd 0.01%
    • Fmc Corp 0.01%
    • P G & E Corp 0.01%
    • Posco 0.01%
    • Soc Quimica Y Minera Chile-B 0.01%
    • Procter & Gamble Co/The 0.17%
    • LVMH Moet Hennessy Louis Vui 0.11%
    • Unilever PLC 0.06%
    • Braskem Netherlands 0.05%
    • L'Oreal 0.05%
    • Air Liquide SA 0.04%
    • 3M Co 0.03%
    • Bayer AG-Reg 0.03%
    • Colgate-Palmolive Co 0.03%
    • Estee Lauder Companies-Cl A 0.03%
    • Hermes International 0.03%
    • Sherwin-Williams Co/The 0.03%
    • Shin-Etsu Chemical Co Ltd 0.03%
    • Basf Se 0.02%
    • Corteva Inc 0.02%
    • Dow Inc 0.02%
    • Dupont De Nemours Inc 0.02%
    • Ecolab Inc 0.02%
    • Kering 0.02%
    • Kimberly-Clark Corp 0.02%
    • Koninklijke Ahold Delhaize N 0.02%
    • Nutrien Ltd 0.02%
    • Akzo Nobel N.V. 0.01%
    • Albemarle Corp 0.01%
    • Beiersdorf AG 0.01%
    • Burberry Group PLC 0.01%
    • Church & Dwight Co Inc 0.01%
    • Clorox Company 0.01%
    • Fmc Corp 0.01%
    • Formosa Plastics Corp 0.01%
    • Givaudan-Reg 0.01%
    • Groupe Bruxelles Lambert Nv 0.01%
    • Henkel AG & Co Kgaa Vor-Pref 0.01%
    • Hormel Foods Corp 0.01%
    • Kao Corp 0.01%
    • Koninklijke Dsm Nv 0.01%
    • Moncler Spa 0.01%
    • Mosaic Co/The 0.01%
    • Nan Ya Plastics Corp 0.01%
    • Nippon Paint Holdings Co Ltd 0.01%
    • Otsuka Holdings Co Ltd 0.01%
    • PPG Industries Inc 0.01%
    • Rentokil Initial PLC 0.01%
    • Shiseido Co Ltd 0.01%
    • Tyson Foods Inc-Cl A 0.01%
    • Unicharm Corp 0.01%
    • Yakult Honsha Co Ltd 0.01%
    • Walmart Inc 0.10%
    • Amphenol Corp-Cl A 0.02%
    • L3Harris Technologies Inc 0.02%
    • Transdigm Group Inc 0.02%
    • Heico Corp-Class A 0.01%
    • Howmet Aerospace Inc 0.01%
    • Mtu Aero Engines AG 0.01%
    • Rheinmetall AG 0.01%
    • Rolls-Royce Holdings PLC 0.01%
    • Teledyne Technologies Inc 0.01%
    • Contact Energy Ltd 0.72% 1.5°C
      This company is on a 1.5°C pathway
    • Vier Gas Transport Gmbh 0.28%
    • E.On Intl Finance Bv 0.23%
    • Sgsp Australia Assets 0.18%
    • Apa Infrastructure Ltd 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
    • Galaxy Pipeline Assets 0.16%
    • Enbridge Inc 0.10% !!
      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
    • Enterprise Products Oper 0.08% !!
      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
    • Kinder Morgan Ener Part 0.08% !!
      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
    • Nederlandse Gasunie N.V. 0.08% !!
      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
    • Berkshire Hathaway Cl-A-Cdi 0.07%
    • Nextera Energy Inc 0.07%
    • National Grid PLC 0.06% !!
      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
    • Enel Finance Intl Nv 0.05% 1.5°C
      This company is on a 1.5°C pathway
    • Kinder Morgan Inc 0.05% !!
      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
    • Williams Companies Inc 0.05% !!
      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
    • Iberdrola SA 0.04% 1.5°C
      This company is on a 1.5°C pathway
    • Marathon Petroleum Corp 0.03%
    • Valero Energy Corp 0.03%
    • Cheniere Energy 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
    • Consolidated Edison Inc 0.02%
    • Dominion Energy Inc 0.02%
    • Enel Spa 0.02% 1.5°C
      This company is on a 1.5°C pathway
    • Itochu 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
    • National Grid Gas 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
    • Phillips 66 0.02%
    • Sempra Energy 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
    • Tc Energy 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
    • Williams Cos 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
    • Atmos Energy Corp 0.01%
    • Ck Hutchison Holdings Ltd 0.01%
    • Constellation Energy 0.01%
    • E.On Se 0.01%
    • Edp-Energias De Portugal SA 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Eneos Holdings Inc 0.01%
    • Engie 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
    • Enn Energy Holdings Ltd 0.01%
    • Entergy Corp 0.01%
    • Fairfax Financial Hldgs Ltd 0.01%
    • Fortis Inc 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
    • Grupo Mexico Sab De Cv-Ser B 0.01%
    • Hong Kong & China Gas 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
    • Jardine Matheson Hldgs Ltd 0.01%
    • Marubeni Corp 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
    • Neste Oyj 0.01%
    • Nippon Steel Corp 0.01%
    • Nippon Yusen Kk 0.01%
    • Oneok Inc 0.01%
    • Orsted A/S 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • P G & E Corp 0.01%
    • Pembina Pipeline Corp 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
    • Public Service Enterprise Gp 0.01%
    • Snam Spa 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
    • Sumitomo Corp 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
    • Targa Resources Corp 0.01%
    • Weg SA 0.01%

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

The Moderate Fund invests largely in income assets, which generally have lower levels of risk with the potential for lower returns. It also has a sizeable allocation to growth assets, which generally have higher levels of risk and potential returns. It aims to achieve moderate returns over the medium term.

Value $730M NZD
Period of data report 30th June 2023
Members 30,652
Fund started 11th Feb. 2013
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

Peter Forster

Currently: Chair, BNZ Investment Review Committee (3 years, 6 months)
Previously: General Manager Wealth, BNZ (current position) (4 years, 10 months)

Richard Ansell

Currently: Member, BNZ Investment Review Committee (3 years, 6 months)
Previously: Director, BNZ Investment Services Limited (current position) (4 years, 4 months)

Jason Wong

Currently: Member, BNZ Investment Review Committee (2 years, 6 months)
Previously: Senior Markets Strategist, BNZ (current position) (7 years, 6 months)

Louis Nel

Currently: Member, BNZ Investment Review Committee (1 years, 3 months)
Previously: Head of Investment Solutions Wealth, BNZ (current position) (12 years, 5 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
2023 -2.79% -1.98%
2022 0.71% -0.71%
2021 17.98% 11.37%
2020 -1.40% 1.45%
2019 5.81% 4.43%
2018 5.28% 5.79%
2017 5.86% 6.83%
2016 4.01% 1.48%
2015 11.09% 9.67%
2014 7.28% 4.93%

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

  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    1.38%
  • Apple Inc
    United States International Equities
    1.35%
  • Microsoft Corporation
    United States International Equities
    1.18%
  • Auckland International Airport Ltd
    New Zealand Australasian Equities
    1.05%
  • Infratil Ltd
    New Zealand Australasian Equities
    0.9%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    0.89%
  • Meridian Energy Ltd
    New Zealand Australasian Equities
    0.77%
  • Bank Of China Call Account
    New Zealand Cash and Equivalents A
    0.77%
  • Contact Energy Ltd
    New Zealand Australasian Equities
    0.74%
  • NZ Government Bond 2.75% 15/04/2037
    New Zealand NZ Fixed Interest AAA
    0.73%
Type Target Actual
Cash and Cash Equivalents 15.0% 16.78%
New Zealand Fixed Interest 11.0% 11.67%
International Fixed Interest 34.0% 32.39%
Australasian Equities 13.0% 11.88%
International Equities 27.0% 27.28%
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 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 June 2023.