BNZ KiwiSaver First Home Buyer Fund

Not Mindful

Type: Conservative fund

Past Returns: 2.53%

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

Annual Fees: 0.5%

Annual fees, including any membership and % management 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

Abu Dhabi National Energy Co PJSC 3.625 12/01/2023 0.01%
Anglo American Capital PLC 4.125 15/04/2021 0.01%
Anglo American PLC 0.01%
BHP Group PLC 0.01%
BP Capital Markets America Inc 2.75 10/05/2023 0.01%
BP Capital Markets America Inc 3.937 21/09/2028 0.01%
BP Capital Markets PLC 0.831% 08/11/2027 0.01%
Chevron Corporation 0.04%
Cnooc Finance 2013 Ltd 2.875 30/09/2029 0.01%
Conocophillips 0.01%
Dominion Energy Inc 0.02%
Dte Energy Co 0.01%
Enbridge Inc 0.02%
Eni Spa 0.01%
Eog Resources Inc 0.01%
Exxon Mobil Corp 0.05%
Firstenergy Corp 0.01%
Gazprom (Gaz Capital SA) 5.150 11/02/2026 0.01%
Gazprom Ord Shs 0.01%
Glencore PLC 0.01%
Kinder Morgan Inc/De 0.01%
Lukoil PJSC 0.01%
Nextera Energy Inc 0.03%
Perusahaan Listrik Negara Pt 4.125 15/05/2027 0.01%
Perusahaan Listrik Negara Pt 6.25 25/01/2049 0.01%
Petroleo Brasileiro SA Petrobras 0.01%
Phillips 66 0.01%
Royal Dutch Shell PLC - B Shs 0.02%
Royal Dutch Shell PLC-A Shs 0.02%
Sinopec Group Overseas Development 2013 Ltd 5.375 17/10/2043 0.01%
Total SA 0.03%
Valero Energy Corp 0.01%
Wec Energy Group Inc 0.01%
Xcel Energy Inc 0.01%

Gambling

Aristocrat Leisure Ltd 0.01%
Sky City Entertainment Group 0.01%

Alcohol

Anheuser-Busch Inbev Nv 0.01%
Anheuser-Busch Inbev SA/ 2.250 05/24/29 Mtn 0.01%
Constellation Brands Inc-A 0.01%
Delegat Group Ltd 0.01%
Diageo PLC 0.02%
Heineken Nv 0.01%
LVMH Moet Hennessy Louis Vui 0.03%
Pernod Ricard SA 0.01%

Palm Oil

Posco 2.75 15/07/2024 0.01%

GMOs

Basf Se 0.01%
Bayer AG-Reg 0.02%
Du Pont De Nemours 0.01%
Novartis AG 0.05%
Nutrien Ltd 0.01%

Human Rights & Environmental Violations

Archer-Daniels-Midland Co 0.01%
Barrick Gold Corp 0.01%
BHP Group PLC 0.01%
Chevron Corporation 0.04%
Duke Energy Corp 0.02%
Essity Aktiebolag-B 0.01%
Glencore PLC 0.01%
Johnson & Johnson 0.10%
Nestle Holdings Inc 3.625 24/09/2028 0.01%
Nestle Holdings Inc 4.000 24/09/2048 0.01%
Nestle SA-Reg 0.08%
Nutrien Ltd 0.01%
Petroleo Brasileiro SA Petrobras 0.01%
Posco 2.75 15/07/2024 0.01%
Rio Tinto PLC 0.01%
Royal Dutch Shell PLC - B Shs 0.02%
Royal Dutch Shell PLC-A Shs 0.02%
Sempra Energy 0.01%
Vale SA 0.01%

Animal Testing

Air Liquide SA 0.020%
Air Products and Chemicals Inc. 0.010%
Archer-Daniels-Midland Co 0.010%
Basf Se 0.010%
Bayer AG-Reg 0.020%
Bayer US Finance Ii Llc 4.25% 15/12/2025 0.010%
Chevron Corporation 0.040%
Clorox Company 0.010%
Coca-Cola Co/The 0.050%
Colgate-Palmolive Co 0.020%
Danone 0.010%
Du Pont De Nemours 0.010%
Ecolab Inc 0.010%
Essity Aktiebolag-B 0.010%
Estee Lauder Cos Inc/The 0.010%
General Mills Inc 0.010%
Givaudan SA 0.010%
Glaxosmithkline PLC 0.020%
Henkel AG & Co Kgaa 0.010%
Johnson & Johnson 0.100%
Kao Corporation 0.010%
Kimberly-Clark Corp 0.010%
Koninklijke Dsm Nv 0.010%
L'Oreal SA 0.020%
LVMH Moet Hennessy Louis Vui 0.030%
Nestle Holdings Inc 3.625 24/09/2028 0.010%
Nestle Holdings Inc 4.000 24/09/2048 0.010%
Nestle SA-Reg 0.080%
Pepsico Inc 0.050%
PPG Industries Inc 0.010%
Procter and Gamble Co/The 0.080%
Reckitt Benckiser Group PLC 0.010%
Reckitt Benckiser Tsy 2.75% 26/06/2024 0.010%
Royal Dutch Shell PLC - B Shs 0.020%
Royal Dutch Shell PLC-A Shs 0.020%
Shiseido Co Ltd 0.010%
Tesco Corporate Treasury Services PLC 1.375 24/10/2023 0.010%
Tesco PLC 0.010%
Tesco Property Finance 1 PLC 7.6227 13/07/2039 0.010%
Unilever Nv-Cva 0.020%
Unilever PLC 0.020%
Walgreens Boots Alliance Inc 0.010%

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

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
2020	1.07%	1.4%
2019	4.40%	2.68%
2018	3.80%	3.5%
2017	4.16%	3.85%

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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

Auckland Council 4.017% 24/09/2020
New Zealand NZ Fixed Interest AA

2.86%
Mufg Bank Ltd Bank Account NZD
New Zealand Cash and Equivalents A

2.63%
ASB Bank Ltd Term Deposit 2.35% 17/09/2020
New Zealand Cash and Equivalents AA-

2.34%
ANZ Bank New Zealand Ltd 4.03% 25/09/2020
New Zealand NZ Fixed Interest AA-

2.13%
China Construction Bank (New Zealand) Limited Registered Certificate Of Deposit 09/06/2021
New Zealand NZ Fixed Interest A

1.63%
ANZ Bank New Zealand Ltd Floating Rate Note 21/12/2020
New Zealand NZ Fixed Interest AA-

1.62%
Bank Of New Zealand (BNZ) Term Deposit 2.45% 02/07/2020
New Zealand Cash and Equivalents AA-

1.35%
ANZ Bank New Zealand Ltd Term Deposit 1.77% 29/09/2020
New Zealand Cash and Equivalents AA-

1.33%
Rabobank New Zealand Ltd Registered Certificate Of Deposit 09/03/2021
New Zealand NZ Fixed Interest A

1.31%
Kiwibank Ltd Registered Certificate Of Deposit 10/11/2020
New Zealand NZ Fixed Interest A

1.31%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Tue June 30th 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	60.0%	63.07%
New Zealand Fixed Interest	6.0%	4.59%
International Fixed Interest	19.0%	18.2%
Australasian Equities	5.0%	3.8%
International Equities	10.0%	10.34%
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 Tue June 30th 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:

0.11%
Animal Testing:

0.87%
Fossil Fuels:

0.49%
Gambling:

0.02%
GMOs:

0.10%
Human Rights & Environmental Violations:

0.41%
Palm Oil:

0.01%
Tobacco:

0.00%
Weapons:

0.00%

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 First Home Buyer Fund invests mostly in income assets which generally have lower levels of risk and return. It also has a small allocation to growth assets which generally have higher levels of risk with the potential for higher returns. It aims to achieve relatively stable returns over the short to medium term."

Value	$190M NZD
Period of data report	Tue June 30th 2020
Members	16,806
Fund started	Tue Sept. 15th 2015
Total annual fund fees	0.5%
Total performance based fees	0.0%
Manager's basic fee	0.5%
Administration charges	0.0%
Total other charges	1.95
Total other charges currency	NZD

Key Personnel

Richard Morath	Currently: Director, BNZ Investment Services Limited (7 years, 0 months) Previously: Non-Executive Director, BNZ Life Insurance Limited (current position) (16 years, 7 months)
Richard Ansell	Currently: Director, BNZ Investment Services Limited (1 years, 4 months) Previously: Chair, BNZ Investment Review Committee (0 years, 10 months)
Hayley Cassidy	Currently: Director, BNZ Investment Services Limited (1 years, 2 months) Previously: Chief General Counsel, BNZ (current position) (1 years, 3 months)
Christine Yates	Currently: Director, BNZ Investment Services Limited (0 years, 8 months) Previously: Chief Customer Officer, Private Wealth and Insurances, BNZ (current position) (1 years, 4 months)
Paul Richardson	Currently: Director, BNZ Investment Services Limited (0 years, 7 months) Previously: Chief Investment Officer/Executive Director, Mint Asset Management Limited (4 years, 8 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Tue June 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v