Funds
BNZ KiwiSaver Balanced Fund
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:
- Adult Entertainment/Pornography
- Alcohol
- Animal Cruelty
- Fossil Fuels
- Gambling
- GMOs
- Human Rights & Environmental Violations
- Palm Oil
- Tobacco
- Weapons
Companies of concern
Fossil Fuel
- Contact Energy Ltd 1.20%
- Genesis Energy Ltd 0.19%
- Vier Gas Transport Gmbh 4.625% 26/09/2032 0.16%
- Galaxy Pipeline Assets Bidco Ltd Medium Term Note 2.625% 31/03/2036 0.14%
- Nextera Energy Inc 0.12%
- Enterprise Products Operating Llc 4.45% 15/02/2043 0.09%
- N.V. Nederlandse Gasunie 3.375% 11/07/2034 0.09%
- The Williams Companies Inc 2.6% 15/03/2031 0.09%
- Enbridge Inc 0.06%
- Vier Gas Transport Gmbh 4% 26/09/2027 0.06%
- Anglo American Capital PLC 4.75% 21/09/2032 0.04%
- Dominion Energy Inc 0.04%
- Iberdrola SA 0.04%
- Marathon Petroleum Corp 0.04%
- Sempra Energy 0.04%
- Valero Energy Corp 0.04%
- Williams Companies Inc 4.85% 01/03/2048 0.04%
- Cheniere Energy Ord Shs 0.03%
- Enel Spa 0.03%
- Itochu Corp 0.03%
- Kinder Morgan Inc/De 0.03%
- National Grid PLC 0.03%
- Phillips 66 0.03%
- Ppl Electric Utilities Corp 4.15% 15/06/2048 0.03%
- Tc Energy Corp 0.03%
- Consolidated Edison Inc 0.02%
- Constellation Energy Corp 0.02%
- Engie SA 0.02%
- Neste Ord Shs 0.02%
- Pembina Pipeline Ord Shs 0.02%
- Public Service Enterprise Group Ord Shs 0.02%
- Rwe AG 0.02%
- Apa Group 0.01%
- Astra International Ord Shs 0.01%
- Atmos Energy Ord Shs 0.01%
- Citic Securities Co Ltd 0.01%
- Ck Asset Holdings Ltd 0.01%
- Ck Hutchison Holdings Ltd 0.01%
- Consolidated Edison Company Of New York Inc 3.95% 01/04/2050 0.01%
- Cosan Industria E Comercio Ord Shs 0.01%
- Enel Americas Ord Shs 0.01%
- Engie Brasil Energia Ord Shs 0.01%
- Fortum Ord Shs 0.01%
- Hong Kong & China Gas Co Ltd 0.01%
- Jardine Matherson Holdings Ltd 0.01%
- Kansai Electric Power Ord Shs 0.01%
- Loews Corp 0.01%
- Mitsui O.S.K. Lines Ltd 0.01%
- Nippon Yusen Ord Shs 0.01%
- Saudi Electricity Ord Shs 0.01%
- Snam Ord Shs 0.01%
- Vier Gas Transport Gmbh 0.125% 10/09/2029 0.01%
Weapons
- Wal-Mart Stores Inc 0.15%
- Brookfield Asset Management Inc 0.05%
- Amphenol Corp-Cl A 0.03%
- L3Harris Technologies Inc 0.03%
- Transdigm Group Inc 0.02%
- Canadian Tire Corp Ltd 0.01%
- Heico Corp - A 0.01%
- Howmet Aerospace Inc 0.01%
- Mtu Aero Engines AG 0.01%
- Rolls-Royce Holdings PLC 0.01%
- Teledyne Technologies Inc 0.01%
- Wal Mart De Mexico Sab De Cv 0.01%
Alcohol
- Anheuser-Busch Inbev Worldwide Inc 5.45% 23/01/2039 0.11%
- Anheuser-Busch Inbev Finance Inc 4.7% 01/02/2036 0.08%
- Diageo PLC 0.08%
- Bacardi Ltd 5.3% 15/05/2048 0.07%
- Bacardi Ltd 4.45% 15/05/2025 0.06%
- Diageo Capital B.V. 1.875% 08/06/2034 0.04%
- Anheuser-Busch Inbev Nv 0.03%
- Constellation Brands Inc-A 0.03%
- Pernod Ricard SA 0.03%
- Australian Vintage Ltd 0.02%
- Delegat Group Ltd 0.02%
- Heineken Nv 0.02%
- Kweichow Moutai Co Ltd-A 0.02%
- Ambev SA 0.01%
- Asahi Group Holdings Ltd 0.01%
- Brown-Forman Corp-Class B 0.01%
- China Resources Beer Holdings Ord Shs 0.01%
- Heineken Holdings Nv 0.01%
- Kirin Holdings Co Ltd 0.01%
- Wuliangye Yibin Co Ltd 0.01%
Palm Oil
- Astra International Ord Shs 0.01%
GMOs
- Corteva Inc 0.03%
Human Rights & Environmental Violations
- Johnson & Johnson 0.35%
- Meta Platforms Inc 0.25%
- Nestle SA-Reg 0.24%
- Thermo Fisher Scientific Inc 0.16%
- Credit Suisse Group AG 3.091% 14/05/2032 0.13%
- Wells Fargo & Co 0.12%
- Basf Se 3.75% 29/06/2032 0.07%
- Caterpillar Inc 0.07%
- Activision Blizzard Inc 0.05%
- Archer-Daniels-Midland Co 0.04%
- Bayer AG-Reg 0.04%
- Credit Suisse AG London 0.25% 01/09/2028 0.04%
- Credit Suisse Group AG 4.194% 01/04/2031 0.04%
- Nutrien Ord Shs 0.04%
- Rio Tinto PLC 0.04%
- Basf Se 0.03%
- Corteva Inc 0.03%
- Freeport - Mcmoran Copper 0.03%
- Thermo Fisher Scientific (Finance I) B.V. 1.625% 18/10/2041 0.03%
- Barrick Gold Corp 0.02%
- Li Ning Ord Shs 0.02%
- Rio Tinto Ltd 0.02%
- Thermo Fisher Scientific Inc 1.875% 01/10/2049 0.02%
- Astra International Ord Shs 0.01%
- Bank Hapoalim Bm 0.01%
- Bank Leumi Le Israel Ord Shs 0.01%
- Centrais Eletricas Brasileiras SA 0.01%
- Credit Suisse Group Ord Shs 0.01%
- Fmc Corp 0.01%
- Formosa Chemicals & Fibre Ord Shs 0.01%
- Posco 0.01%
Animal Cruelty
- Procter and Gamble Co/The 0.25%
- Nestle SA-Reg 0.24%
- Coca-Cola Co/The 0.18%
- Pepsico Inc 0.18%
- LVMH Moet Hennessy Louis Vui 0.12%
- Unilever PLC 0.09%
- Basf Se 3.75% 29/06/2032 0.07%
- Kraft Heinz Foods Company 4.125% 01/07/2027 0.07%
- Tesco Property Finance 3 PLC 5.744% 13/04/2040 0.07%
- L'Oreal SA 0.06%
- Mondelez International Inc-A 0.06%
- 3M Co 0.05%
- Air Liquide SA 0.05%
- Colgate-Palmolive Co 0.05%
- Danone SA 1% Perpetual 0.05%
- Rentokil Initial Finance B.V. 4.375% 27/06/2030 0.05%
- Tesco Property Finance 2 PLC 6.0517% 13/10/2039 0.05%
- Archer-Daniels-Midland Co 0.04%
- Bayer AG-Reg 0.04%
- Estee Lauder Cos Inc/The 0.04%
- General Mills Inc 0.04%
- Nutrien Ord Shs 0.04%
- Sherwin-Williams Co/The 0.04%
- Basf Se 0.03%
- Constellation Brands Inc-A 0.03%
- Corteva Inc 0.03%
- Daikin Industries Ltd 0.03%
- Dow Inc 0.03%
- Ecolab Inc 0.03%
- Hermes International 0.03%
- Kering 0.03%
- Keurig Dr Pepper Ord Shs 0.03%
- Kimberly-Clark Corp 0.03%
- Kraft Heinz Foods Company 4.875% 01/10/2049 0.03%
- Albemarle Corp 0.02%
- Canon Inc 0.02%
- Danone 0.02%
- Denso Corp 0.02%
- Du Pont De Nemours 0.02%
- Kao Corporation 0.02%
- Kellogg Co 0.02%
- Koninkilijke Dsm Ord Shs 0.02%
- Koninklijke Ahold Delhaize Nv 0.02%
- Kraft Heinz Co/The 0.02%
- Kraft Heinz Foods Co 4.375% 01/06/2046 0.02%
- PPG Industries Inc 0.02%
- Ping An Insurance Group 0.02%
- Tesco Property Finance 1 PLC 7.6227% 13/07/2039 0.02%
- Tyson Foods Inc 0.02%
- Akzo Nobel Nv 0.01%
- Asahi Group Holdings Ltd 0.01%
- Avantor Inc 0.01%
- Barry Callebaut Ord Shs 0.01%
- Burberry Group PLC 0.01%
- Campbell Soup Co 0.01%
- Clorox Company 0.01%
- Croda International PLC 0.01%
- Fmc Corp 0.01%
- Formosa Chemicals & Fibre Ord Shs 0.01%
- Fujifilm Holdings Ord Shs 0.01%
- Groupe Bruxelles Lambert SA 0.01%
- Mitsubishi Chemical Holdings Corp 0.01%
- Moncler Ord Shs 0.01%
- Mosaic Co/The 0.01%
- Mowi Asa 0.01%
- Nippon Paint Holdings Ord Shs 0.01%
- Otsuka Holdings Co Ltd 0.01%
- Ping An Insurance Group - A 0.01%
- Rentokil Initial Ord Shs 0.01%
- Shiseido Co Ltd 0.01%
- The Swatch Group AG 0.01%
- Umicore Ord Shs 0.01%
- Unicharm Corporation 0.01%
- Wilmar International Ord Shs 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 30th Sept. 2022 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 Balanced Fund invests largely in growth assets, which generally have higher levels of risk with the potential for higher returns. It also has a sizeable allocation to income assets, which generally have lower levels of risk and potential returns. It aims to achieve a medium level of return over the medium to long term.
| Value | $700M NZD |
| Period of data report | 31st Dec. 2022 |
| Members | 29,310 |
| Fund started | 11th Feb. 2013 |
| Total annual fund fees | 0.51% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.51% |
| Other management and administration charges | 0.0% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Peter Forster |
Currently: Chair, BNZ Investment Review Committee (3 years, 0 months) |
|
Richard Ansell |
Currently: Member, BNZ Investment Review Committee (3 years, 0 months) |
|
Jason Wong |
Currently: Member, BNZ Investment Review Committee (2 years, 0 months) |
|
Louis Nel |
Currently: Member, BNZ Investment Review Committee (0 years, 9 months) |
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.
Investment Exclusions
Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).
Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.
| Issue of concern | Does this fund say it excludes this? | Actual holdings |
|---|---|---|
| Adult Entertainment /Pornography | 0.00% | |
| Alcohol | 0.68% | |
| Animal Cruelty | 2.81% | |
| Fossil Fuels | 3.06% | |
| Gambling | 0.00% | |
| GMOs | 0.03% | |
| Human Rights & Environmental Violations | 1.96% | |
| Palm Oil | 0.01% | |
| Tobacco | 0.00% | |
| Weapons | 0.35% |
This data is compiled by Mindful Money from the fund information and portfolios
that each KiwiSaver fund has
filed with the Disclose register to 30th Sept. 2022 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 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. Similarly Mindful Money uses a broader scope for fossil fuels
than the government’s rules for default KiwiSaver funds. The full definitions
used in the Mindful Money analysis are here.
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 |
|---|---|---|
| 2022 | 0.35% | 0.11% |
| 2021 | 16.60% | 16.71% |
| 2020 | -1.09% | 0.83% |
| 2019 | 5.56% | 5.34% |
| 2018 | 5.28% | 7.09% |
| 2017 | 5.86% | 8.5% |
| 2016 | 4.01% | 1.41% |
| 2015 | 11.09% | 10.94% |
| 2014 | 7.28% | 7.26% |
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 Dec. 2022.
Top 10 Investments
-
Fisher & Paykel Healthcare Ltd
New Zealand Australasian Equities2.16% -
Spark New Zealand Ltd
New Zealand Australasian Equities1.64% -
Auckland International Airport Ltd
New Zealand Australasian Equities1.6% -
Apple Inc
United States International Equities1.46% -
Microsoft Corporation
United States International Equities1.33% -
Meridian Energy Ltd
New Zealand Australasian Equities1.21% -
Contact Energy Ltd
New Zealand Australasian Equities1.2% -
Ebos Group Ltd
New Zealand Australasian Equities1.2% -
Infratil Ltd
New Zealand Australasian Equities1.16% -
BNP Paribas Bank Account USD
United States Cash and Equivalents A+1.06%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 5.0% | 6.09% |
| New Zealand Fixed Interest | 9.0% | 10.03% |
| International Fixed Interest | 26.0% | 25.92% |
| Australasian Equities | 20.0% | 19.43% |
| International Equities | 40.0% | 38.53% |
| 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.
Target
Actual
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.