BNZ KiwiSaver Moderate Fund

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.

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31 March 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 and research organisations.

A summary of this fund and its details.

Key Personnel

• Christine Yates

  Currently: Director, BNZ Investment Services Limited (0 years, 5 months)
  Previously: Chief Customer Officer, Private Wealth and Insurances, BNZ (current position) (1 years, 1 months)

• Hayley Cassidy

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

• Paul Richardson

  Currently: Director, BNZ Investment Services Limited (0 years, 4 months)
  Previously: Chief Investment Officer/Executive Director, Mint Asset Management Limited (4 years, 8 months)

• Richard Ansell

  Currently: Director, BNZ Investment Services Limited (1 years, 1 months)
  Previously: Chair, BNZ Investment Review Committee (0 years, 10 months)

• Richard Morath

  Currently: Director, BNZ Investment Services Limited (6 years, 9 months)
  Previously: Non-Executive Director, BNZ Life Insurance Limited (current position) (16 years, 4 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2020 .

Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

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 31 March 2020 .

Showing the top 10 investments for this fund:

• Fisher & Paykel Healthcare Ltd
  New Zealand Australasian Equities
  1.69%
• BNP Bank Account NZD
  New Zealand Cash and Equivalents A+
  1.63%
• A2 Milk Company Ltd
  New Zealand Australasian Equities
  1.55%
• BNZ Bank Account
  New Zealand Cash and Equivalents AA-
  1.53%
• Westpac Compound Account NZD
  New Zealand Cash and Equivalents AA-
  1.31%
• Spark New Zealand Ltd
  New Zealand Australasian Equities
  1.0%
• Microsoft Corporation
  United States International Equities
  0.78%
• New Zealand Government Inflation Linked Bond 2 20/09/2025
  New Zealand NZ Fixed Interest AA+
  0.76%
• ANZ Bank New Zealand Ltd 4.48 11/05/2020
  New Zealand NZ Fixed Interest AA-
  0.73%
• New Zealand Government Bond 4.5 15/04/2027
  New Zealand NZ Fixed Interest AA+
  0.73%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register 31 March 2020 .

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 31 March 2020 .

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:
  0.35%
• Animal Testing:
  2.17%
• Fossil Fuels:
  1.63%
• Gambling:
  0.09%
• GMOs:
  0.25%
• Human Rights & Environmental Violations:
  1.02%
• Palm Oil:
  0.03%
• Tobacco:
  0.00%
• Weapons:
  0.03%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31 March 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 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 Moderate Fund invests mostly in income assets which have lower levels of risks and returns. It also has a sizeable allocation to growth assets which have higher risks and returns. It aims to achieve moderate returns over the medium term."

Download the fund's disclosure statement and portfolio holdings.

• Portfolio holdings v