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

    • Contact Energy Ltd 0.25%
    • Vier Gas Transport Gmbh 4.625% 26/09/2032 0.11%
    • Galaxy Pipeline Assets Bidco Ltd Medium Term Note 2.625% 31/03/2036 0.09%
    • Enterprise Products Operating Llc 4.45% 15/02/2043 0.06%
    • N.V. Nederlandse Gasunie 3.375% 11/07/2034 0.06%
    • The Williams Companies Inc 2.6% 15/03/2031 0.06%
    • Genesis Energy Ltd 0.04%
    • Vier Gas Transport Gmbh 4% 26/09/2027 0.04%
    • Anglo American Capital PLC 4.75% 21/09/2032 0.03%
    • Nextera Energy Inc 0.03%
    • Williams Companies Inc 4.85% 01/03/2048 0.03%
    • Ppl Electric Utilities Corp 4.15% 15/06/2048 0.02%
    • Cheniere Energy Ord Shs 0.01%
    • Consolidated Edison Company Of New York Inc 3.95% 01/04/2050 0.01%
    • Consolidated Edison Inc 0.01%
    • Constellation Energy Corp 0.01%
    • Dominion Energy Inc 0.01%
    • Enbridge Inc 0.01%
    • Enel Spa 0.01%
    • Iberdrola SA 0.01%
    • Itochu Corp 0.01%
    • Kinder Morgan Inc/De 0.01%
    • Marathon Petroleum Corp 0.01%
    • National Grid PLC 0.01%
    • Phillips 66 0.01%
    • Public Service Enterprise Group Ord Shs 0.01%
    • Sempra Energy 0.01%
    • Tc Energy Corp 0.01%
    • Valero Energy Corp 0.01%
    • Wal-Mart Stores Inc 0.03%
    • Amphenol Corp-Cl A 0.01%
    • Brookfield Asset Management Inc 0.01%
    • L3Harris Technologies Inc 0.01%
    • Anheuser-Busch Inbev Worldwide Inc 5.45% 23/01/2039 0.07%
    • Anheuser-Busch Inbev Finance Inc 4.7% 01/02/2036 0.05%
    • Bacardi Ltd 5.3% 15/05/2048 0.05%
    • Bacardi Ltd 4.45% 15/05/2025 0.04%
    • Diageo Capital B.V. 1.875% 08/06/2034 0.03%
    • Diageo PLC 0.02%
    • Anheuser-Busch Inbev Nv 0.01%
    • Constellation Brands Inc-A 0.01%
    • Kweichow Moutai Co Ltd-A 0.01%
    • Pernod Ricard SA 0.01%
    • Corteva Inc 0.01%
    • Credit Suisse Group AG 3.091% 14/05/2032 0.08%
    • Johnson & Johnson 0.08%
    • Meta Platforms Inc 0.06%
    • Basf Se 3.75% 29/06/2032 0.05%
    • Nestle SA-Reg 0.05%
    • Thermo Fisher Scientific Inc 0.04%
    • Credit Suisse AG London 0.25% 01/09/2028 0.03%
    • Wells Fargo & Co 0.03%
    • Caterpillar Inc 0.02%
    • Credit Suisse Group AG 4.194% 01/04/2031 0.02%
    • Thermo Fisher Scientific (Finance I) B.V. 1.625% 18/10/2041 0.02%
    • Activision Blizzard Inc 0.01%
    • Archer-Daniels-Midland Co 0.01%
    • Barrick Gold Corp 0.01%
    • Basf Se 0.01%
    • Bayer AG-Reg 0.01%
    • Corteva Inc 0.01%
    • Freeport - Mcmoran Copper 0.01%
    • Nutrien Ord Shs 0.01%
    • Rio Tinto Ltd 0.01%
    • Rio Tinto PLC 0.01%
    • Thermo Fisher Scientific Inc 1.875% 01/10/2049 0.01%
    • Procter and Gamble Co/The 0.06%
    • Basf Se 3.75% 29/06/2032 0.05%
    • Kraft Heinz Foods Company 4.125% 01/07/2027 0.05%
    • Nestle SA-Reg 0.05%
    • Tesco Property Finance 3 PLC 5.744% 13/04/2040 0.05%
    • Coca-Cola Co/The 0.04%
    • Pepsico Inc 0.04%
    • Danone SA 1% Perpetual 0.03%
    • LVMH Moet Hennessy Louis Vui 0.03%
    • Rentokil Initial Finance B.V. 4.375% 27/06/2030 0.03%
    • Tesco Property Finance 2 PLC 6.0517% 13/10/2039 0.03%
    • Kraft Heinz Foods Company 4.875% 01/10/2049 0.02%
    • Unilever PLC 0.02%
    • 3M Co 0.01%
    • Air Liquide SA 0.01%
    • Albemarle Corp 0.01%
    • Archer-Daniels-Midland Co 0.01%
    • Basf Se 0.01%
    • Bayer AG-Reg 0.01%
    • Colgate-Palmolive Co 0.01%
    • Constellation Brands Inc-A 0.01%
    • Corteva Inc 0.01%
    • Daikin Industries Ltd 0.01%
    • Danone 0.01%
    • Dow Inc 0.01%
    • Ecolab Inc 0.01%
    • Estee Lauder Cos Inc/The 0.01%
    • General Mills Inc 0.01%
    • Hermes International 0.01%
    • Kering 0.01%
    • Keurig Dr Pepper Ord Shs 0.01%
    • Kimberly-Clark Corp 0.01%
    • Kraft Heinz Foods Co 4.375% 01/06/2046 0.01%
    • L'Oreal SA 0.01%
    • Mondelez International Inc-A 0.01%
    • Nutrien Ord Shs 0.01%
    • PPG Industries Inc 0.01%
    • Sherwin-Williams Co/The 0.01%
    • Tesco Property Finance 1 PLC 7.6227% 13/07/2039 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

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

Value $280M NZD
Period of data report 31st Dec. 2022
Members 19,138
Fund started 15th Sept. 2015
Total annual fund fees 0.47%
Total performance based fees 0.0%
Manager's basic fee 0.47%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Peter Forster

Currently: Chair, BNZ Investment Review Committee (3 years, 0 months)
Previously: General Manager Wealth, BNZ (current position) (4 years, 4 months)

Richard Ansell

Currently: Member, BNZ Investment Review Committee (3 years, 0 months)
Previously: Director, BNZ Investment Services Limited (current position) (3 years, 10 months)

Jason Wong

Currently: Member, BNZ Investment Review Committee (2 years, 0 months)
Previously: Senior Markets Strategist, BNZ (current position) (7 years, 0 months)

Louis Nel

Currently: Member, BNZ Investment Review Committee (0 years, 9 months)
Previously: Head of Investment Solutions Wealth, BNZ (current position) (11 years, 11 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 0.30%
Animal Cruelty 0.76%
Fossil Fuels 0.99%
Gambling 0.00%
GMOs 0.01%
Human Rights & Environmental Violations 0.59%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 0.06%

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 -0.92% -0.46%
2021 8.73% 4.25%
2020 1.42% 1.4%
2019 4.58% 2.68%
2018 3.58% 3.5%
2017 4.10% 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 31st Dec. 2022.

Top 10 Investments

  • Bank Of China Call Account
    New Zealand Cash and Equivalents A
    3.09%
  • Bank Of New Zealand (BNZ) 4.261% 03/02/2023
    New Zealand NZ Fixed Interest AA-
    2.47%
  • ANZ Bank New Zealand Ltd Registered Certificate Of Deposit 06/04/2023
    New Zealand Cash and Equivalents AA-
    2.26%
  • Ird Deposit 4.7% 23/01/2023
    New Zealand Cash and Equivalents AA+
    2.05%
  • Ird Deposit 4.85% 02/02/2023
    New Zealand Cash and Equivalents AA+
    1.71%
  • Westpac New Zealand Ltd Registered Certificate Of Deposit 27/03/2023
    New Zealand Cash and Equivalents AA-
    1.7%
  • Industrial and Commercial Bank Of China Ltd Registered Certificate Of Deposit 27/02/2023
    New Zealand Cash and Equivalents A
    1.7%
  • Westpac New Zealand Ltd Registered Certificate Of Deposit 14/03/2023
    New Zealand Cash and Equivalents AA-
    1.42%
  • New Zealand Local Government Funding Agency Ltd Registered Certificate Of Deposit 28/02/2023
    New Zealand Cash and Equivalents AAA
    1.42%
  • Bank Of New Zealand Registered Certificate Of Deposit 16/03/2023
    New Zealand Cash and Equivalents AA-
    1.41%
Type Target Actual
Cash and Cash Equivalents 60.0% 64.0%
New Zealand Fixed Interest 6.0% 5.98%
International Fixed Interest 19.0% 16.91%
Australasian Equities 5.0% 4.06%
International Equities 10.0% 9.05%
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.

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.