BNZ KiwiSaver Balanced Fund

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Fund type: Balanced fund

Past Returns: 7.63%

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

Annual Fees: 0.58%

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

Apt Pipelines Ltd 4.25% 15/07/2027 0.06%
Apt Pipelines Ltd Medium Term Note 1.25% 15/03/2033 0.09%
Cheniere Energy Ord Shs 0.02%
Ck Hutchison Holdings Ltd 0.01%
Coca-Cola Co/The 0.13%
Dominion Energy Inc 0.04%
Enbridge Inc 0.05%
Enbridge Inc 2.5% 01/08/2033 0.06%
Engie SA 0.02%
Franco-Nevada Corp 0.01%
Genesis Energy Ltd 0.19%
Itochu Corp 0.02%
Kinder Morgan Energy Partners Lp 5% 01/03/2043 0.07%
Kinder Morgan Inc/De 0.02%
Lyondellbasell Indu-Cl A 0.02%
Marathon Petroleum Corp 0.03%
Neste Ord Shs 0.01%
Nippon Steel & Sumitomo Metal Ord Shs 0.01%
Phillips 66 0.02%
Posco 0.01%
Public Service Enterprise Group Ord Shs 0.02%
Saudi Arabian Oil Co 0.01%
Tc Energy Corp 0.03%
Valero Energy Corp 0.02%
Williams Companies Inc 4.85% 01/03/2048 0.05%

Weapons

Amphenol Corp-Cl A 0.02%
L3Harris Technologies Inc 0.03%
Rolls-Royce Holdings PLC 0.01%
Teledyne Technologies Inc 0.01%
Transdigm Group Inc 0.02%

Alcohol

Anheuser Busch Inbev SA Medium Term Note 3.7% 02/04/2040 0.06%
Anheuser-Busch Companies Llc 4.9% 01/02/2046 0.03%
Anheuser-Busch Inbev Finance Inc 4.7% 01/02/2036 0.09%
Anheuser-Busch Inbev Nv 0.03%
Anheuser-Busch Inbev Worldwide Inc 5.45% 23/01/2039 0.09%
Asahi Group Holdings Ltd 0.01%
Australian Vintage Ltd 0.02%
Bacardi Ltd 4.45% 15/05/2025 0.05%
Bacardi Ltd 5.3% 15/05/2048 0.07%
Constellation Brands Inc-A 0.02%
Delegat Group Ltd 0.02%
Diageo PLC 0.07%
Heineken Nv 0.01%
Kirin Holdings Co Ltd 0.01%
Kweichow Moutai Co Ltd-A 0.02%
LVMH Moet Hennessy Louis Vui 0.11%
Pernod Ricard SA 0.03%

Palm Oil

GMOs

Corteva Inc 0.02%

Human Rights & Environmental Violations

Barrick Gold Corp 0.02%
Bayer AG-Reg 0.04%
Formosa Plastics Ord Shs 0.01%
Freeport - Mcmoran Copper 0.03%
Johnson & Johnson 0.26%
Motorola Solutions Ord Shs 0.02%
Nestle Finance International Ltd SA 0.625% 14/02/2034 0.08%
Nestle SA-Reg 0.21%
Posco 0.01%
Rio Tinto Ltd 0.02%
Rio Tinto PLC 0.05%

Animal Testing

Air Liquide SA 0.05%
Akzo Nobel Nv 0.01%
Albemarle Corp 0.02%
Archer-Daniels-Midland Co 0.02%
Asahi Group Holdings Ltd 0.01%
Avantor Inc 0.02%
Basf Se 0.04%
Bayer AG-Reg 0.04%
Church and Dwight Ord Shs 0.01%
Clorox Company 0.01%
Coca-Cola Co/The 0.13%
Corteva Inc 0.02%
Croda International PLC 0.01%
Danone 0.03%
Danone SA 1% 00/01/1900 0.05%
Dow Inc 0.03%
Du Pont De Nemours 0.02%
Ecolab Inc 0.03%
Essity Aktiebolag-B 0.01%
Estee Lauder Cos Inc/The 0.04%
General Mills Inc 0.02%
Givaudan Ord Shs 0.02%
Glaxosmithkline Capital PLC Medium Term Note 0% 23/09/2023 0.23%
Glaxosmithkline PLC 0.06%
Henkel & Kgaa Pref Shs 0.01%
Hermes International 0.03%
Ingersoll - Rand PLC 0.01%
Johnson & Johnson 0.26%
Kao Corporation 0.02%
Kellogg Co 0.01%
Kerry Group Ord Shs 0.01%
Keurig Dr Pepper Ord Shs 0.02%
Kimberly-Clark Corp 0.03%
Kirin Holdings Co Ltd 0.01%
Koninkilijke Dsm Ord Shs 0.02%
Kraft Heinz Co/The 0.01%
L'Oreal SA 0.06%
LVMH Moet Hennessy Louis Vui 0.11%
Linde PLC 0.10%
Lyondellbasell Indu-Cl A 0.02%
Mondelez International Inc-A 0.05%
Nestle Finance International Ltd SA 0.625% 14/02/2034 0.08%
Nestle SA-Reg 0.21%
Nutrien Ord Shs 0.02%
PPG Industries Inc 0.02%
Pepsico Inc 0.13%
Procter and Gamble Co/The 0.21%
Reckitt Benckiser Group PLC 0.03%
Sherwin-Williams Co/The 0.04%
Shin-Etsu Chemical Co Ltd 0.04%
Shiseido Co Ltd 0.02%
Tesco Property Finance 1 PLC 7.6227% 13/07/2039 0.02%
Tesco Property Finance 2 PLC 6.0517% 13/10/2039 0.07%
Tesco Property Finance 3 PLC 5.744% 13/04/2040 0.10%
Unilever PLC 0.09%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Thu Sept. 30th 2021 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 16.64% 16.71%
2020 -1.20% 0.83%
2019 5.69% 5.34%
2018 5.19% 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 Fri Dec. 31st 2021.

Showing the top 10 investments for this fund:

  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    2.57%
  • Apple Inc
    United States International Equities
    1.62%
  • Microsoft Corporation
    United States International Equities
    1.49%
  • Mainfreight Ltd
    New Zealand Australasian Equities
    1.23%
  • Auckland International Airport Ltd
    New Zealand Australasian Equities A-
    1.22%
  • BNP Paribas Bank Account USD
    United States Cash and Equivalents A+
    1.13%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities A-
    1.13%
  • Fletcher Building Ltd
    New Zealand Australasian Equities
    0.98%
  • Contact Energy Ltd
    New Zealand Australasian Equities BBB
    0.97%
  • Meridian Energy Ltd
    New Zealand Australasian Equities
    0.91%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 5.0% 8.0%
New Zealand Fixed Interest 9.0% 8.81%
International Fixed Interest 26.0% 24.39%
Australasian Equities 20.0% 18.95%
International Equities 40.0% 39.85%
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 Fri Dec. 31st 2021.

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).

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:
    0.80%
  • Animal Testing:
    2.90%
  • Fossil Fuels:
    1.06%
  • Gambling:
    0.00%
  • GMOs:
    0.02%
  • Human Rights & Environmental Violations:
    0.82%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.00%
  • Weapons:
    0.14%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Thu Sept. 30th 2021 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 exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or their policy may be less stringent than the definitions applied by Mindful Money.

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.

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 $760M NZD
Period of data report Fri Dec. 31st 2021
Members 29,554
Fund started Mon Feb. 11th 2013
Total annual fund fees 0.58%
Total performance based fees 0.0%
Manager's basic fee 0.58%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Richard Ansell

Currently: Director BNZ Investment Services Limited (2 years, 10 months)
Previously: Member BNZ Investment Review Committee (current position) (2 years, 10 months)

Hayley Cassidy

Currently: Director BNZ Investment Services Limited (2 years, 8 months)
Previously: Executive Chief General Counsel BNZ (current position) (0 years, 10 months)

Paul Richardson

Currently: Director BNZ Investment Services Limited (2 years, 1 months)
Previously: Managing Director Carina Capital Limited (current position) (3 years, 5 months)

Emma Dobson [New]

Currently: Director BNZ Investment Services Limited (0 years, 2 months)
Previously: Commissioner Earthquake Commission (current position) (1 years, 9 months)

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

Downloads

Download the fund's disclosure statement and portfolio holdings.

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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.