Funds

BNZ KiwiSaver Moderate Fund

Total Ethical Concerns: 7.30%

The average total concerns of all KiwiSaver balanced funds is 5.99%.

Companies of Concern

  • Animal Cruelty 0.74%

    • 0.14%
    • Unilever PLC
      0.05%
      0.05%
    • Air Liquide
      0.04%
      0.04%
    • 3M
      0.03%
      0.03%
    • Colgate-Palmolive Co.
      0.03%
      0.03%
    • Hermès International Sca
      0.03%
      0.03%
    • L'Oréal SA
      0.03%
      0.03%
    • Lyondellbasell Industries Nv
      0.03%
      0.03%
    • The Sherwin-Williams Co.
      0.03%
      0.03%
    • Basf Se
      0.02%
      0.02%
    • Corteva, Inc.
      0.02%
      0.02%
    • Ecolab, Inc.
      0.02%
      0.02%
    • Kimberly-Clark Corp.
      0.02%
      0.02%
    • Shin-Etsu Chemical Co., Ltd.
      0.02%
      0.02%
    • Bayer
      0.01%
      0.01%
    • Church & Dwight Co., Inc.
      0.01%
      0.01%
    • Dow, Inc.
      0.01%
      0.01%
    • Dupont De Nemours
      0.01%
      0.01%
    • Givaudan SA
      0.01%
      0.01%
    • International Flavors & Fragrances, Inc.
      0.01%
      0.01%
    • Kao Corp.
      0.01%
      0.01%
    • Kering SA
      0.01%
      0.01%
    • Koninklijke Ahold Delhaize Nv
      0.01%
      0.01%
    • Novozymes A/S
      0.01%
      0.01%
    • Nutrien Ltd.
      0.01%
      0.01%
    • Otsuka Holdings Co., Ltd.
      0.01%
      0.01%
    • PPG Industries, Inc.
      0.01%
      0.01%
    • Sabic
      0.01%
      0.01%
    • Symrise AG
      0.01%
      0.01%
    • The Clorox Co.
      0.01%
      0.01%
    • Tyson Foods Inc
      0.01%
      0.01%
  • Human Rights Violations 1.67%

    • 0.44%
    • Nestlé
      0.36%
      0.36%
    • Rio Tinto
      0.16%
      0.16%
    • 0.14%
    • General Motors
      0.10%
      0.10%
    • UBS
      0.10%
      0.10%
    • Wells Fargo
      0.08%
      0.08%
    • 0.06%
    • Holcim
      0.02%
      0.02%
    • Ck Hutchison
      0.01%
      0.01%
    • Glencore
      0.01%
      0.01%
    • Grupo México S.A.B. De C.V.
      0.01%
      0.01%
    • Teva Pharmaceuticals
      0.01%
      0.01%
    • Zijin Mining
      0.01%
      0.01%
  • Social Harm 0.53%

  • Fossil Fuels 3.63%

    • Contact Energy Ltd.
      0.86%
      1.5°C
      This company is on a 1.5°C pathway
      0.86%
    • Vier Gas Transport Gmbh
      0.28%
      0.28%
    • E.On Se
      0.24%
      0.24%
    • Nisource, Inc.
      0.23%
      0.23%
    • Sgsp (Australia) Assets Pty Ltd (Jemena)
      0.18%
      0.18%
    • Rio Tinto
      0.16%
      0.16%
    • Apa Infrastructure Ltd.
      0.14%
      !!
      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
      0.14%
    • Électricité De France SA
      0.14%
      0.14%
    • Galaxy Pipeline Assets Bidco Ltd.
      0.13%
      0.13%
    • Kinder Morgan, 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
      0.10%
    • Berkshire Hathaway Energy Co.
      0.09%
      0.09%
    • Channel Infrastructure
      0.09%
      0.09%
    • National Grid PLC
      0.09%
      !!
      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
      0.09%
    • The Williams Cos., Inc.
      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
      0.08%
    • Enbridge, 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
      0.05%
    • Nextera Energy, Inc.
      0.05%
      0.05%
    • BHP
      0.04%
      !!
      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
      0.04%
    • Duke Energy Corp
      0.03%
      0.03%
    • Lyondellbasell Industries Nv
      0.03%
      0.03%
    • The Southern Co.
      0.03%
      0.03%
    • American Electric Power Co., Inc.
      0.02%
      0.02%
    • 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
      0.02%
    • Constellation Energy Corp.
      0.02%
      0.02%
    • Dominion Energy, Inc.
      0.02%
      0.02%
    • Enel
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • 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
      0.02%
    • Marathon Petroleum Corp.
      0.02%
      0.02%
    • Mitsubishi 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
      0.02%
    • Oneok, Inc.
      0.02%
      0.02%
    • Phillips 66
      0.02%
      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
      0.02%
    • Targa Resources Corp.
      0.02%
      0.02%
    • 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
      0.02%
    • Acwa Power
      0.01%
      0.01%
    • Ameren Corp.
      0.01%
      0.01%
    • Apa Group
      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
      0.01%
    • Atmos Energy Corp.
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Centerpoint Energy, Inc.
      0.01%
      0.01%
    • Ck Hutchison
      0.01%
      0.01%
    • Consolidated Edison, Inc.
      0.01%
      0.01%
    • Dassault Systèmes Se
      0.01%
      0.01%
    • Dte Energy Co.
      0.01%
      0.01%
    • Engie SA
      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
      0.01%
    • Entergy Corp.
      0.01%
      0.01%
    • Fairfax Financial Holdings Ltd.
      0.01%
      0.01%
    • Firstenergy Corp.
      0.01%
      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
      0.01%
    • Glencore
      0.01%
      0.01%
    • Grupo México S.A.B. De C.V.
      0.01%
      0.01%
    • Loews Corp.
      0.01%
      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
      0.01%
    • Nippon Steel Corp.
      0.01%
      0.01%
    • Nippon Yusen Kk
      0.01%
      0.01%
    • Nrg Energy, Inc.
      0.01%
      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
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Ppl Corp.
      0.01%
      0.01%
    • 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
      0.01%
    • Teck Resources Limited
      0.01%
      0.01%
    • Tenaga Nasional Bhd.
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%
    • Valero Energy Corp.
      0.01%
      0.01%
    • Vistra Energy
      0.01%
      0.01%
    • Wec Energy Group, Inc.
      0.01%
      0.01%
    • Xcel Energy, Inc.
      0.01%
      0.01%
  • Weapons 0.25%

    • 0.13%
    • Amphenol Corp.
      0.03%
      0.03%
    • Howmet Aerospace, Inc.
      0.02%
      0.02%
    • Rheinmetall AG
      0.02%
      0.02%
    • Transdigm Group, Inc.
      0.02%
      0.02%
    • Daikin Industries Ltd.
      0.01%
      0.01%
    • Mtu Aero Engines AG
      0.01%
      0.01%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm 0.98%

    • Fonterra
      0.27%
      0.27%
    • PepsiCo
      0.25%
      0.25%
    • Coca-Cola
      0.09%
      0.09%
    • Unilever PLC
      0.05%
      0.05%
    • BHP
      0.04%
      !!
      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
      0.04%
    • 3M
      0.03%
      0.03%
    • Duke Energy Corp
      0.03%
      0.03%
    • Mondelez
      0.03%
      0.03%
    • Basf Se
      0.02%
      0.02%
    • Corteva, Inc.
      0.02%
      0.02%
    • Danone
      0.02%
      0.02%
    • 0.02%
    • Mitsubishi 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
      0.02%
    • Archer-Daniels Midland
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Bayer
      0.01%
      0.01%
    • 0.01%
    • Glencore
      0.01%
      0.01%
    • Nutrien Ltd.
      0.01%
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%
    • Zijin Mining
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    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 $818M NZD
    Period of data report 31st March 2025
    Members 28,297
    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

    Andrew Bascand

    Currently: Chair, Investment Committee (0 years, 1 months)
    Previously: ​Managing Director, Harbour Asset Management Ltd (other position) (15 years, 3 months)

    Richard Ansell

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Independent Director, BNZ Investment Services Ltd (other position) (6 years, 1 months)

    Louis Nel

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Head of External Managers & Partnerships, Harbour Asset Management Limited (other position) (0 years, 8 months)

    Chris Di Leva

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Head of Multi-Asset & Global Investments, Harbour Asset Management Ltd (other position) (6 years, 6 months)

    Murray Brown

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Independent Director, Harbour Asset Management Ltd (other position) (5 years, 1 months)

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    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
    2025 4.34% 4.86%
    2024 10.86% 9.0%
    2023 -2.79% -1.98%
    2022 1.34% -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%

    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 31st March 2025.

  • Investments

    Top 10 Investments

    • Fisher & Paykel Healthcare Ltd

      New Zealand Australasian Equities

      1.91%
    • Auckland International Airport Ltd

      New Zealand Australasian Equities

      1.2%
    • Housing New Zealand Ltd 3.36% 12/06/2025

      New Zealand NZ Fixed Interest AAA

      1.15%
    • Apple Inc

      United States International Equities

      1.13%
    • Westpac Whs Notice Deposit 45 Day

      New Zealand Cash and Equivalents AA-

      1.11%
    • Infratil Ltd

      New Zealand Australasian Equities

      1.01%
    • New Zealand 4.5% 15/05/2035

      New Zealand NZ Fixed Interest AAA

      1.0%
    • Microsoft Corporation

      United States International Equities

      0.97%
    • Nvidia Corp

      United States International Equities

      0.88%
    • NZ Government Bond 2.75% 15/04/2037

      New Zealand NZ Fixed Interest AAA

      0.87%
    Type Target Actual
    Cash and Cash Equivalents 15.0% 15.22%
    New Zealand Fixed Interest 11.0% 12.27%
    International Fixed Interest 34.0% 35.08%
    Australasian Equities 13.0% 12.53%
    International Equities 27.0% 24.9%
    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 by asset type.

    This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

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 2025 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.

Issues of Concern

  • 0.74% Animal Cruelty
  • 1.67% Human Rights Violations
  • 0.53% Social Harm
  • 3.63% Fossil Fuels
  • 0.25% Weapons
  • 0.98% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • 0.14%
    • Unilever PLC
      0.05%
      0.05%
    • Air Liquide
      0.04%
      0.04%
    • 3M
      0.03%
      0.03%
    • Colgate-Palmolive Co.
      0.03%
      0.03%
    • Hermès International Sca
      0.03%
      0.03%
    • L'Oréal SA
      0.03%
      0.03%
    • Lyondellbasell Industries Nv
      0.03%
      0.03%
    • The Sherwin-Williams Co.
      0.03%
      0.03%
    • Basf Se
      0.02%
      0.02%
    • Corteva, Inc.
      0.02%
      0.02%
    • Ecolab, Inc.
      0.02%
      0.02%
    • Kimberly-Clark Corp.
      0.02%
      0.02%
    • Shin-Etsu Chemical Co., Ltd.
      0.02%
      0.02%
    • Bayer
      0.01%
      0.01%
    • Church & Dwight Co., Inc.
      0.01%
      0.01%
    • Dow, Inc.
      0.01%
      0.01%
    • Dupont De Nemours
      0.01%
      0.01%
    • Givaudan SA
      0.01%
      0.01%
    • International Flavors & Fragrances, Inc.
      0.01%
      0.01%
    • Kao Corp.
      0.01%
      0.01%
    • Kering SA
      0.01%
      0.01%
    • Koninklijke Ahold Delhaize Nv
      0.01%
      0.01%
    • Novozymes A/S
      0.01%
      0.01%
    • Nutrien Ltd.
      0.01%
      0.01%
    • Otsuka Holdings Co., Ltd.
      0.01%
      0.01%
    • PPG Industries, Inc.
      0.01%
      0.01%
    • Sabic
      0.01%
      0.01%
    • Symrise AG
      0.01%
      0.01%
    • The Clorox Co.
      0.01%
      0.01%
    • Tyson Foods Inc
      0.01%
      0.01%
  • Human Rights Violations

    • 0.44%
    • Nestlé
      0.36%
      0.36%
    • Rio Tinto
      0.16%
      0.16%
    • 0.14%
    • General Motors
      0.10%
      0.10%
    • UBS
      0.10%
      0.10%
    • Wells Fargo
      0.08%
      0.08%
    • 0.06%
    • Holcim
      0.02%
      0.02%
    • Ck Hutchison
      0.01%
      0.01%
    • Glencore
      0.01%
      0.01%
    • Grupo México S.A.B. De C.V.
      0.01%
      0.01%
    • Teva Pharmaceuticals
      0.01%
      0.01%
    • Zijin Mining
      0.01%
      0.01%
  • Fossil Fuels

    • Contact Energy Ltd.
      0.86%
      1.5°C
      This company is on a 1.5°C pathway
      0.86%
    • Vier Gas Transport Gmbh
      0.28%
      0.28%
    • E.On Se
      0.24%
      0.24%
    • Nisource, Inc.
      0.23%
      0.23%
    • Sgsp (Australia) Assets Pty Ltd (Jemena)
      0.18%
      0.18%
    • Rio Tinto
      0.16%
      0.16%
    • Apa Infrastructure Ltd.
      0.14%
      !!
      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
      0.14%
    • Électricité De France SA
      0.14%
      0.14%
    • Galaxy Pipeline Assets Bidco Ltd.
      0.13%
      0.13%
    • Kinder Morgan, 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
      0.10%
    • Berkshire Hathaway Energy Co.
      0.09%
      0.09%
    • Channel Infrastructure
      0.09%
      0.09%
    • National Grid PLC
      0.09%
      !!
      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
      0.09%
    • The Williams Cos., Inc.
      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
      0.08%
    • Enbridge, 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
      0.05%
    • Nextera Energy, Inc.
      0.05%
      0.05%
    • BHP
      0.04%
      !!
      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
      0.04%
    • Duke Energy Corp
      0.03%
      0.03%
    • Lyondellbasell Industries Nv
      0.03%
      0.03%
    • The Southern Co.
      0.03%
      0.03%
    • American Electric Power Co., Inc.
      0.02%
      0.02%
    • 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
      0.02%
    • Constellation Energy Corp.
      0.02%
      0.02%
    • Dominion Energy, Inc.
      0.02%
      0.02%
    • Enel
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • 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
      0.02%
    • Marathon Petroleum Corp.
      0.02%
      0.02%
    • Mitsubishi 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
      0.02%
    • Oneok, Inc.
      0.02%
      0.02%
    • Phillips 66
      0.02%
      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
      0.02%
    • Targa Resources Corp.
      0.02%
      0.02%
    • 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
      0.02%
    • Acwa Power
      0.01%
      0.01%
    • Ameren Corp.
      0.01%
      0.01%
    • Apa Group
      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
      0.01%
    • Atmos Energy Corp.
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Centerpoint Energy, Inc.
      0.01%
      0.01%
    • Ck Hutchison
      0.01%
      0.01%
    • Consolidated Edison, Inc.
      0.01%
      0.01%
    • Dassault Systèmes Se
      0.01%
      0.01%
    • Dte Energy Co.
      0.01%
      0.01%
    • Engie SA
      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
      0.01%
    • Entergy Corp.
      0.01%
      0.01%
    • Fairfax Financial Holdings Ltd.
      0.01%
      0.01%
    • Firstenergy Corp.
      0.01%
      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
      0.01%
    • Glencore
      0.01%
      0.01%
    • Grupo México S.A.B. De C.V.
      0.01%
      0.01%
    • Loews Corp.
      0.01%
      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
      0.01%
    • Nippon Steel Corp.
      0.01%
      0.01%
    • Nippon Yusen Kk
      0.01%
      0.01%
    • Nrg Energy, Inc.
      0.01%
      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
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Ppl Corp.
      0.01%
      0.01%
    • 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
      0.01%
    • Teck Resources Limited
      0.01%
      0.01%
    • Tenaga Nasional Bhd.
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%
    • Valero Energy Corp.
      0.01%
      0.01%
    • Vistra Energy
      0.01%
      0.01%
    • Wec Energy Group, Inc.
      0.01%
      0.01%
    • Xcel Energy, Inc.
      0.01%
      0.01%
  • Weapons

    • 0.13%
    • Amphenol Corp.
      0.03%
      0.03%
    • Howmet Aerospace, Inc.
      0.02%
      0.02%
    • Rheinmetall AG
      0.02%
      0.02%
    • Transdigm Group, Inc.
      0.02%
      0.02%
    • Daikin Industries Ltd.
      0.01%
      0.01%
    • Mtu Aero Engines AG
      0.01%
      0.01%
    • Teledyne Technologies, Inc.
      0.01%
      0.01%
  • Environmental Harm

    • Fonterra
      0.27%
      0.27%
    • PepsiCo
      0.25%
      0.25%
    • Coca-Cola
      0.09%
      0.09%
    • Unilever PLC
      0.05%
      0.05%
    • BHP
      0.04%
      !!
      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
      0.04%
    • 3M
      0.03%
      0.03%
    • Duke Energy Corp
      0.03%
      0.03%
    • Mondelez
      0.03%
      0.03%
    • Basf Se
      0.02%
      0.02%
    • Corteva, Inc.
      0.02%
      0.02%
    • Danone
      0.02%
      0.02%
    • 0.02%
    • Mitsubishi 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
      0.02%
    • Archer-Daniels Midland
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Bayer
      0.01%
      0.01%
    • 0.01%
    • Glencore
      0.01%
      0.01%
    • Nutrien Ltd.
      0.01%
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%
    • Zijin Mining
      0.01%
      0.01%

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 $818M NZD
Period of data report 31st March 2025
Members 28,297
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

Andrew Bascand

Currently: Chair, Investment Committee (0 years, 1 months)
Previously: ​Managing Director, Harbour Asset Management Ltd (other position) (15 years, 3 months)

Richard Ansell

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Independent Director, BNZ Investment Services Ltd (other position) (6 years, 1 months)

Louis Nel

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Head of External Managers & Partnerships, Harbour Asset Management Limited (other position) (0 years, 8 months)

Chris Di Leva

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Head of Multi-Asset & Global Investments, Harbour Asset Management Ltd (other position) (6 years, 6 months)

Murray Brown

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Independent Director, Harbour Asset Management Ltd (other position) (5 years, 1 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.

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
2025 4.34% 4.86%
2024 10.86% 9.0%
2023 -2.79% -1.98%
2022 1.34% -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%

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 31st March 2025.

Top 10 Investments

  • Fisher & Paykel Healthcare Ltd

    New Zealand Australasian Equities

    1.91%
  • Auckland International Airport Ltd

    New Zealand Australasian Equities

    1.2%
  • Housing New Zealand Ltd 3.36% 12/06/2025

    New Zealand NZ Fixed Interest AAA

    1.15%
  • Apple Inc

    United States International Equities

    1.13%
  • Westpac Whs Notice Deposit 45 Day

    New Zealand Cash and Equivalents AA-

    1.11%
  • Infratil Ltd

    New Zealand Australasian Equities

    1.01%
  • New Zealand 4.5% 15/05/2035

    New Zealand NZ Fixed Interest AAA

    1.0%
  • Microsoft Corporation

    United States International Equities

    0.97%
  • Nvidia Corp

    United States International Equities

    0.88%
  • NZ Government Bond 2.75% 15/04/2037

    New Zealand NZ Fixed Interest AAA

    0.87%
Type Target Actual
Cash and Cash Equivalents 15.0% 15.22%
New Zealand Fixed Interest 11.0% 12.27%
International Fixed Interest 34.0% 35.08%
Australasian Equities 13.0% 12.53%
International Equities 27.0% 24.9%
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 by asset type.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st March 2025.