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:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Meta Platforms Inc-Class A 0.18%
    • Johnson & Johnson 0.15%
    • Nestle SA-Reg 0.13%
    • Rio Tinto Ltd 0.09%
    • Thermo Fisher Scientific Inc 0.09%
    • Caterpillar Inc 0.05%
    • Glencore PLC 0.04%
    • Rio Tinto PLC 0.04%
    • Activision Blizzard Inc 0.03%
    • Motorola Solutions Inc 0.02%
    • Uber Technologies Inc 0.02%
    • Centrais Eletricas Brasilier 0.01%
    • Formosa Chemicals & Fibre 0.01%
    • Grupo Mexico Sab De Cv-Ser B 0.01%
    • Li Ning Co Ltd 0.01%
    • BHP Group Ltd 0.47% !!
      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
    • Newcrest Mining Ltd 0.05%
    • Glencore PLC 0.04%
    • Bayer AG-Reg 0.03%
    • Duke Energy Corp 0.03%
    • Freeport-Mcmoran Inc 0.03%
    • Archer-Daniels-Midland Co 0.02%
    • Basf Se 0.02%
    • Corteva Inc 0.02%
    • Nutrien Ltd 0.02%
    • Posco 0.02%
    • Barrick Gold Corp 0.01%
    • Bunge Ltd 0.01%
    • Fmc Corp 0.01%
    • Soc Quimica Y Minera Chile-B 0.01%
    • Southern Copper Corp 0.01%
    • Zijin Mining Group Co Ltd-H 0.01%
    • Procter & Gamble Co/The 0.13%
    • LVMH Moet Hennessy Louis Vui 0.10%
    • Unilever PLC 0.05%
    • Air Liquide SA 0.04%
    • L'Oreal 0.04%
    • Bayer AG-Reg 0.03%
    • Hermes International 0.03%
    • 3M Co 0.02%
    • Basf Se 0.02%
    • Colgate-Palmolive Co 0.02%
    • Corteva Inc 0.02%
    • Dow Inc 0.02%
    • Dupont De Nemours Inc 0.02%
    • Ecolab Inc 0.02%
    • Estee Lauder Companies-Cl A 0.02%
    • Kering 0.02%
    • Kimberly-Clark Corp 0.02%
    • Nutrien Ltd 0.02%
    • Sherwin-Williams Co/The 0.02%
    • Albemarle Corp 0.01%
    • Burberry Group PLC 0.01%
    • Celanese Corp 0.01%
    • Church & Dwight Co Inc 0.01%
    • Clorox Company 0.01%
    • Croda International PLC 0.01%
    • Fmc Corp 0.01%
    • Formosa Chemicals & Fibre 0.01%
    • Formosa Plastics Corp 0.01%
    • Givaudan-Reg 0.01%
    • Intl Flavors & Fragrances 0.01%
    • Kao Corp 0.01%
    • Koninklijke Ahold Delhaize N 0.01%
    • Koninklijke Dsm Nv 0.01%
    • Mosaic Co/The 0.01%
    • Nan Ya Plastics Corp 0.01%
    • Orica Ltd 0.01%
    • Otsuka Holdings Co Ltd 0.01%
    • PPG Industries Inc 0.01%
    • Rentokil Initial PLC 0.01%
    • Shiseido Co Ltd 0.01%
    • Tyson Foods Inc-Cl A 0.01%
    • Ultrapar Participacoes SA 0.01%
    • Yara International Asa 0.01%
    • Heico Corp 0.04%
    • Howmet Aerospace Inc 0.04%
    • Transdigm Group Inc 0.04%
    • Amphenol Corp-Cl A 0.02%
    • Kongsberg Gruppen Asa 0.02%
    • Mtu Aero Engines AG 0.02%
    • Singapore Tech Engineering 0.02%
    • Booz Allen Hamilton Holdings 0.01%
    • Rheinmetall AG 0.01%
    • Rolls-Royce Holdings PLC 0.01%
    • Contact Energy Ltd 0.49% 1.5°C
      This company is on a 1.5°C pathway
    • BHP Group Ltd 0.47% !!
      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
    • Genesis Energy Ltd 0.12%
    • Marathon Petroleum Corp 0.09%
    • Enbridge Inc 0.07% !!
      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
    • Kinder Morgan Inc 0.07% !!
      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
    • Phillips 66 0.07%
    • Targa Resources Corp 0.07%
    • Williams Cos Inc 0.07% !!
      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
    • Cheniere Energy Inc 0.06% !!
      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
    • Neste Oyj 0.06%
    • Nextera Energy Inc 0.06%
    • Valero Energy Corp 0.06%
    • Snam Spa 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
    • Tc Energy Corp 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
    • Ampol Ltd 0.04%
    • Glencore PLC 0.04%
    • Keyera Corp 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
    • Oneok Inc 0.04%
    • Parkland Corp 0.04%
    • Pembina Pipeline Corp 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
    • South32 Ltd 0.04%
    • Apa Group 0.03% !!
      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
    • Duke Energy Corp 0.03%
    • Hf Sinclair Corp 0.03%
    • Iberdrola SA 0.03% 1.5°C
      This company is on a 1.5°C pathway
    • Origin Energy Ltd 0.03% !!
      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
    • Southern Co/The 0.03%
    • Viva Energy Group Ltd 0.03% !!
      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
    • Altagas Ltd 0.02%
    • American Electric Power 0.02%
    • Enel Spa 0.02% 1.5°C
      This company is on a 1.5°C pathway
    • 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
    • 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
    • National Grid PLC 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
    • 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
    • Aes 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
    • Agl Energy Ltd 0.01%
    • Alliant Energy Corp 0.01%
    • Ameren Corporation 0.01%
    • Arcelormittal 0.01%
    • Atmos Energy Corp 0.01%
    • Cez As 0.01%
    • China Merchants Energy -A 0.01%
    • Citic Ltd 0.01%
    • Ck Hutchison Holdings Ltd 0.01%
    • Cms Energy Corp 0.01%
    • Consolidated Edison Inc 0.01%
    • Constellation Energy 0.01%
    • Cosan 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
    • Dte Energy Company 0.01%
    • E.On Se 0.01%
    • Edp-Energias De Portugal SA 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Engie 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
    • Enn Energy Holdings Ltd 0.01%
    • Entergy Corp 0.01%
    • Evergy Inc 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
    • Grupo Mexico Sab De Cv-Ser B 0.01%
    • Hd Hyundai 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
    • Nisource Inc 0.01%
    • Orica Ltd 0.01%
    • Orsted A/S 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Petronas Dagangan Bhd 0.01%
    • Ppl Corp 0.01%
    • Ptt Oil & Retail Busine-Nvdr 0.01%
    • Public Service Enterprise Gp 0.01%
    • Qatar Gas Transport(Nakilat) 0.01%
    • Rabigh Refining and Petroche 0.01%
    • Rwe AG 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
    • Taiwan Cement 0.01%
    • Vistra Corp 0.01%
    • Washington H. Soul Pattinson 0.01%
    • Wec Energy Group Inc 0.01%
    • Weg SA 0.01%
    • Xcel Energy Inc 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 31st March 2023 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

To provide moderate total returns allowing for moderate movements of value up and down. The number of years with negative returns are generally expected to be higher than the Conservative Fund but lower than the Balanced Fund in the ASB KiwiSaver Scheme. We manage asset allocation and currency hedging over the medium to long term relative to the target investment mix. We focus on cost effective management. The Moderate Fund invests in income and growth assets with a target investment mix of 60% income assets and 40% growth assets.

Value $2.4B NZD
Period of data report 30th June 2023
Members 81,797
Fund started 2nd Oct. 2007
Total annual fund fees 0.6%
Total performance based fees 0.0%
Manager's basic fee 0.6%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Frank Jasper (Not Named In The Previous Fund Update)

Currently: Investment Committee member (0 years, 11 months)
Previously: Chief Investment Officer, Fisher Funds (previous position) (4 years, 0 months)

Jax Mitchell (Not Named In The Previous Fund Update)

Currently: Investment Committee member (0 years, 8 months)
Previously: GM Wealth, Insurance & Partnerships, ASB Bank (current position) (0 years, 8 months)

Stephen Moir

Currently: Investment Committee Chairman (0 years, 1 months)
Previously: Investment Committee member (2 years, 5 months)

Justine Sefton (Not Named In The Previous Fund Update)

Currently: Investment Committee member (0 years, 11 months)
Previously: Member/Deputy-Chair of the Impact Investment Network Aotearoa NZ (current position) (3 years, 1 months)

John Smith

Currently: Investment Committee member (12 years, 1 months)
Previously: Head of Asset Management, ASB Bank (current position) (11 years, 1 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30th June 2023.

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
2023 -2.79% -1.68%
2022 0.71% -1.04%
2021 17.98% 12.12%
2020 -1.40% -1.79%
2019 5.81% 6.02%
2018 5.28% 4.95%
2017 5.86% 5.39%
2016 4.01% 3.81%
2015 11.09% 10.12%
2014 7.28% 4.7%

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 30th June 2023.

Top 10 Investments

  • Ishares Physical Gold Etc
    Ireland Commodities
    2.95%
  • Westpac Deposit Acc
    New Zealand Cash and Equivalents A-1+
    2.61%
  • ASB Bank Ltd 041023 Rcd
    New Zealand Cash and Equivalents A-1+
    2.0%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    1.68%
  • Apple Inc
    United States International Equities
    1.34%
  • New Zealand Government 150427 4.50 Gb
    New Zealand NZ Fixed Interest AAA
    1.17%
  • New Zealand Government 150524 0.50 Gb
    New Zealand NZ Fixed Interest AAA
    1.07%
  • Microsoft Corp
    United States International Equities
    1.06%
  • New Zealand Government 150425 2.75 Gb
    New Zealand NZ Fixed Interest AAA
    1.06%
  • Fisher & Paykel Healthcare
    New Zealand Australasian Equities
    0.95%
Type Target Actual
Cash and Cash Equivalents 8.0% 7.2%
New Zealand Fixed Interest 26.0% 23.39%
International Fixed Interest 26.0% 26.26%
Australasian Equities 16.0% 11.79%
International Equities 22.0% 28.35%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 2.0% 0.0%
Commodities 0.0% 3.01%

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 30th June 2023.