ASB KiwiSaver Scheme

Not Mindful

Type: Growth fund

Past Returns: 3.40%

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

Annual Fees: 0.7%

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

Aes Corp 0.01%
Algonquin Power & Utilities Corp 0.01%
Alleghany Corp 0.01%
Alliant Energy Corp 0.01%
Ameren Corporation 0.02%
American Electric Power 0.03%
Ampol Ltd 0.05%
Anglo American PLC 0.02%
Apa Group 0.10%
Arcelormittal 0.01%
Astra International Tbk Pt 0.01%
Atmos Energy Corp 0.01%
Basf Se 0.04%
Beach Energy Ltd 0.02%
BHP Group Ltd 0.89%
BHP Group PLC 0.04%
BP PLC 0.05%
Brickworks Ltd 0.01%
Cabot Oil & Gas Corp 0.01%
Canadian Natural Resources 0.01%
Cheniere Energy Inc 0.01%
Chevron Corp 0.11%
China Petroleum & Chemical-H 0.01%
China Shenhua Energy Co-H 0.01%
Chubu Electric Power Co Inc 0.01%
Ck Hutchison Holdings Ltd 0.02%
Clp Holdings Ltd 0.01%
Cms Energy Corp 0.02%
Cnooc Ltd 0.02%
Coca-Cola Amatil Ltd 0.04%
Coca-Cola Co 0.16%
Concho Resources Inc 0.01%
Conocophillips 0.03%
Dominion Energy Incorporated 0.05%
Dte Energy Company 0.02%
Edp-Energias De Portugal SA 0.01%
Emera Inc 0.01%
Enbridge Inc 0.05%
Enel Spa 0.05%
Eneos Holdings 0.01%
Engie 0.02%
Eni Spa 0.02%
Eog Resources Inc 0.01%
Equinor Asa 0.01%
Evergy Inc 0.01%
Exxon Mobil Corporation 0.11%
Firstenergy Corp 0.01%
Fortis Inc 0.01%
Fortum Oyj 0.01%
Franco-Nevada Corp 0.02%
Gazprom PJSC 0.02%
Genesis Energy Ltd 0.25%
Glencore PLC 0.01%
Hess Corp 0.01%
Hong Kong and China Gas Company 0.01%
Iberdrola SA 0.06%
Itochu Corp 0.03%
Kinder Morgan Inc 0.02%
Lg Corp 0.01%
Loews Corp 0.01%
Lukoil PJSC 0.02%
Marathon Petroleum Corp 0.01%
Marubeni Corp 0.01%
Mitsubishi Corp 0.03%
Mitsui & Co Ltd 0.02%
Naturgy Energy Group S.A. 0.01%
Neste Oyj 0.02%
New World Development 0.03%
Nextera Energy Inc 0.11%
Nippon Steel Corp 0.01%
Novatek PJSC-Spons Gdr Reg S 0.01%
Nrg Energy Inc 0.01%
Occidental Petroleum Corp 0.01%
Oge Energy Corp 0.01%
Oil Search Ltd 0.04%
Oneok Inc 0.01%
Origin Energy Ltd 0.06%
Orix Corp 0.01%
Orsted A/S 0.02%
Pembina Pipeline Corp 0.01%
Petrobras - Petroleo Bras 0.01%
Petrobras - Petroleo Bras-Pr 0.02%
Petrochina Co Ltd-H 0.01%
Phillips 66 0.02%
Pinnacle West Capital 0.01%
Pioneer Natural Resources Co 0.01%
Posco 0.01%
Power Assets Holdings Ltd 0.01%
Ppl Corporation 0.02%
Ptt Pcl-Nvdr 0.01%
Reliance Industries Ltd 0.05%
Repsol SA 0.01%
Rio Tinto Ltd 0.30%
Rio Tinto PLC 0.05%
Rosneft Oil Co PJSC 0.01%
Royal Dutch Shell PLC 'A' Ord 0.04%
Royal Dutch Shell PLC-B Shs 0.03%
Rwe AG 0.02%
Samsung C&T Corp 0.01%
Santos Ltd 0.07%
Saudi Arabian Oil Co 0.02%
Sk Innovation Co Ltd 0.01%
Snam Spa 0.01%
South32 Ltd 0.08%
Sse PLC 0.01%
Sumitomo Corp 0.01%
Suncor Energy Inc 0.01%
Taiwan Cement 0.01%
Tatneft PJSC 0.01%
Tc Energy Corporation 0.03%
Tenaga Nasional Bhd 0.01%
Total Se 0.07%
Ugi Corp 0.01%
Uniper AG 0.01%
Upm-Kymmene Oyj 0.01%
Vale SA 0.04%
Valero Energy Corp 0.01%
Vistra Corp 0.01%
Viva Energy Group Ltd 0.01%
Washington H. Soul Pattinson 0.02%
Wec Energy Group Inc 0.03%
Whitehaven Coal Ltd 0.01%
Williams Cos Inc 0.02%
Woodside Petroleum Ltd 0.14%
Xcel Energy Inc 0.03%

Weapons

Amphenol Corp-Cl A 0.03%
Bae Systems PLC 0.02%
Dassault Avaition SA 0.01%
General Dynamics Corp 0.03%
Heico Corp 0.01%
Leidos Holdings Inc 0.01%
Mitsubishi Heavy Industries Ltd 0.01%
Singapore Tech Engineering 0.01%
Teledyne Technologies Incorporated 0.01%
Thales SA 0.02%
The Boeing Company 0.07%
Transdigm Group Inc 0.02%

Tobacco

Alimentation Couche-Tard -B 0.02%
Seven & I Holdings Co Ltd 0.02%

Gambling

Aristocrat Leisure Ltd 0.16%
Crown Resorts Ltd 0.03%
Flutter Entertainment PLC 0.02%
Galaxy Entertainment Group L 0.01%
Gaming and Leisure Properties Inc 0.02%
Las Vegas Sands Corp 0.01%
Mgm Resorts International 0.01%
Sands China Ltd 0.01%
Skycity Entertainment Group 0.40%
Tabcorp Holdings Ltd 0.06%
The Star Entertainment Group Ltd 0.02%
Vici Properties Inc 0.05%
Wynn Resorts Ltd 0.01%

Adult Entertainment/Pornography

Mgm Resorts International 0.01%

Alcohol

Ambev SA 0.01%
Anheuser-Busch Inbev SA/Nv 0.03%
Asahi Group Holdings Ltd 0.01%
Brown-Forman Corp-Class B 0.02%
Carlsberg As-B 0.01%
China Resources Beer Holdings Co Ltd 0.01%
Coca-Cola Amatil Ltd 0.04%
Constellation Brands Inc-A 0.02%
Diageo PLC 0.07%
Graincorp Ltd 0.01%
Heineken Holding Nv 0.01%
Heineken Nv 0.02%
Kirin Holdings Co Ltd 0.01%
Kweichow Moutai Co Ltd 0.02%
LVMH Moet Hennessy Vuitton ( Se ) 0.10%
Metcash Ltd 0.02%
Pernod-Ricard SA 0.03%
Treasury Wine Estates Ltd 0.06%
Wuliangye Yibin Co Ltd 0.01%

Palm Oil

Astra International Tbk Pt 0.01%
Posco 0.01%

GMOs

Corteva Inc 0.02%

Human Rights & Environmental Violations

Archer-Daniels-Midland Co 0.02%
Astra International Tbk Pt 0.01%
Barrick Gold Corp 0.04%
BHP Group Ltd 0.89%
BHP Group PLC 0.04%
Chevron Corp 0.11%
Duke Energy Corp 0.05%
Essity Aktiebo-B 0.02%
Freeport-Mcmoran Inc 0.02%
Glencore PLC 0.01%
Grupo Mexico Sab 0.01%
Johnson & Johnson 0.30%
Mining and Metallurgical Company Norilsk Nickel Ojsc 0.01%
Nestle SA-Reg 0.27%
Nutrien Ltd 0.02%
Petrochina Co Ltd-H 0.01%
Posco 0.01%
Rio Tinto Ltd 0.30%
Rio Tinto PLC 0.05%
Royal Dutch Shell PLC 'A' Ord 0.04%
Royal Dutch Shell PLC-B Shs 0.03%
Sempra Energy 0.03%
Vale SA 0.04%

Animal Testing

Air Liquide SA 0.060%
Air Products & Chemicals Inc 0.050%
Akzo Nobel 0.010%
Albemarle Corp 0.010%
Archer-Daniels-Midland Co 0.020%
Arkema 0.010%
Asahi Group Holdings Ltd 0.010%
Associated British Foods PLC 0.010%
Avantor Inc 0.010%
Basf Se 0.040%
Bayer AG-Reg 0.050%
Beiersdorf AG 0.010%
Burberry Group PLC 0.010%
Cabot Oil & Gas Corp 0.010%
Celanese Corp-Series A 0.010%
Chevron Corp 0.110%
Chr Hansen Holding A/S 0.010%
Church & Dwight Co Inc 0.020%
Clorox Company 0.020%
Coca-Cola Amatil Ltd 0.040%
Coca-Cola Co 0.160%
Colgate-Palmolive Company 0.050%
Corteva Inc 0.020%
Covestro AG 0.010%
Croda International PLC 0.010%
Dow Inc 0.030%
Dowdupont Inc 0.030%
Eastman Chemical Co 0.010%
Ecolab Inc 0.040%
Ems-Chemie Holding AG-Reg 0.010%
Essity Aktiebo-B 0.020%
Estee Lauder Companies-Cl A 0.040%
Fmc Corp 0.010%
Formosa Chemicals & Fibre 0.010%
Formosa Plastics Corp 0.010%
Fujifilm Holdings Corp 0.010%
General Mills Inc 0.030%
Givaudan-Reg 0.030%
Glaxosmithkline PLC 0.080%
Groupe Danone 0.030%
Henkel AG & Co Kgaa 0.010%
Henkel AG & Co Kgaa Vorzug 0.010%
Hermes International 0.020%
Hindustan Unilever Ltd 0.020%
Ingersoll-Rand 0.010%
Intl Flavors & Fragrances 0.010%
Johnson & Johnson 0.300%
Kao Corp 0.030%
Kerry Group PLC-A 0.020%
Keurig Dr Pepper Com 0.010%
Kikkoman Corp 0.010%
Kimberly-Clark Corp 0.040%
Kirin Holdings Co Ltd 0.010%
Koninklijke Dsm Nv 0.020%
L'Oreal 0.060%
Lg Household & Health Care 0.010%
Linde PLC 0.100%
LVMH Moet Hennessy Vuitton ( Se ) 0.100%
Marubeni Corp 0.010%
Mondelez International - W/I 0.060%
Mosaic Co 0.010%
Nan Ya Plastics Corp 0.010%
Nestle SA-Reg 0.270%
Nippon Paint Holdings Co Ltd 0.010%
Novozymes A/S-B Shares 0.010%
Nufarm Ltd 0.010%
Nutrien Ltd 0.020%
Orkla Asa 0.010%
Pepsico Inc 0.150%
PPG Industries Inc 0.020%
Procter & Gamble Co 0.270%
Puma Se 0.010%
Reckitt Benckiser 0.060%
Reliance Industries Ltd 0.050%
Royal Dutch Shell PLC 'A' Ord 0.040%
Royal Dutch Shell PLC-B Shs 0.030%
Rpm International Inc 0.010%
Seven & I Holdings Co Ltd 0.020%
Sherwin-Williams Co 0.040%
Shin-Etsu Chemical Co Ltd 0.040%
Shiseido Co Ltd 0.020%
Sk Innovation Co Ltd 0.010%
Solvay SA 0.010%
Symrise AG 0.010%
Tesco PLC 0.020%
Umicore SA 0.010%
Unicharm Corp 0.010%
Unilever Nv 0.070%
Unilever PLC 0.060%
Yara International Asa 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 Wed Sept. 30th 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, Sustainalytics and research organisations.

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
2020	-3.47%	-6.17%
2019	6.87%	8.23%
2018	7.63%	8.13%
2017	8.87%	10.31%
2016	3.62%	3.39%
2015	13.73%	15.21%
2014	8.43%	9.42%
2013	12.00%	11.27%
2012	-1.50%	-1.86%
2011	6.13%	6.74%

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 Thu Dec. 31st 2020.

Showing the top 10 investments for this fund:

Fisher & Paykel Healthcare Corporation Ltd
New Zealand Australasian Equities

3.01%
ASB Bank Account NZD
New Zealand Cash and Equivalents A-1+

2.31%
Apple Inc
United States International Equities

1.54%
A2 Milk Co Ltd
New Zealand Australasian Equities

1.47%
Meridian Energy Ltd
New Zealand Australasian Equities

1.47%
Auckland International Airport Ltd
New Zealand Australasian Equities

1.45%
Spark New Zealand Ltd
New Zealand Australasian Equities

1.38%
Commonwealth Bank Of Australia
Australia Australasian Equities

1.09%
Microsoft Corporation
United States International Equities

1.09%
Contact Energy Ltd
New Zealand Australasian Equities

1.01%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Thu Dec. 31st 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	1.0%	0.31%
New Zealand Fixed Interest	6.5%	10.73%
International Fixed Interest	12.5%	7.54%
Australasian Equities	40.0%	35.8%
International Equities	32.5%	41.06%
Listed Properties	7.5%	4.56%
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 Thu Dec. 31st 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:

0.01%
Alcohol:

0.51%
Animal Testing:

3.36%
Fossil Fuels:

4.51%
Gambling:

0.81%
GMOs:

0.02%
Human Rights & Environmental Violations:

2.34%
Palm Oil:

0.02%
Tobacco:

0.04%
Weapons:

0.26%

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

"To provide high total returns allowing for large movements of value up and down. The number of years with negative returns are generally expected to be the highest of the funds 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 Growth Fund invests in income and growth assets with a target investment mix of 20% income assets and 80% growth assets."

Value	$3.8B NZD
Period of data report	Thu Dec. 31st 2020
Members	150,844
Fund started	Tue Oct. 2nd 2007
Total annual fund fees	0.7%
Total performance based fees	0.0%
Manager's basic fee	0.7%
Administration charges	0.0%
Total other charges	30.0
Total other charges currency	NZD

Key Personnel

Nigel Annett	Currently: Investment Committee member (6 years, 9 months) Previously: Executive GM Corporate Banking ASB Bank (current position) (2 years, 2 months)
Adam Boyd	Currently: Investment Committee member (4 years, 7 months) Previously: Executive GM Private Banking Wealth & Insurance ASB Bank (current position) (4 years, 7 months)
Graeme Edwards	Currently: Investment Committee Chairman (1 years, 2 months) Previously: Investment Committee member (9 years, 0 months)
Craig Sims (Not Named In The Previous Fund Update)	Currently: Investment Committee member (1 years, 11 months) Previously: Executive GM Retail Banking ASB Bank (current position) (1 years, 11 months)
John Smith	Currently: Investment Committee member (9 years, 7 months) Previously: Head of Asset Management ASB Bank (current position) (8 years, 7 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Thu Dec. 31st 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v

ASB Growth Fund