Fund type: Defensive fund
Past Returns: *4.00%Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all KiwiSaver defensive funds is 0.86%.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Genesis Energy is engaged in energy generation, trading and selling of electricity, and owns a portfolio of fossil fuel and renewable generation assets across New Zealand. Evidence shows that thermal generation from gas represents a significant portion of the company's total power generation (from the Huntly power station), and that oil and gas power revenues represent approximately 35% of the company's total revenue.
Fund type: Defensive fund
Past Returns: *4.00%The Fund aims to provide stable returns and reduce the potential of capital loss over the short to medium term by investing in cash and fixed interest assets.
| Value | $109M NZD |
| Period of data report | 31st Dec. 2024 |
| Members | 7,057 |
| Fund started | 1st June 2012 |
| Total annual fund fees | 0.71% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.69% |
| Other management and administration charges | 0.02% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Ashley Gardyne |
Currently: Chief Investment Officer (3 years, 6 months)
|
|
Quin Casey |
Currently: Senior Portfolio Manager, Fixed Interest (0 years, 5 months)
|
|
Matt Logan |
Currently: Portfolio Manager - Credit (0 years, 4 months)
|
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2024.
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 |
|---|---|---|
| 2024 | 3.40% | 3.27% |
| 2023 | -0.13% | 1.33% |
| 2022 | -1.68% | -1.57% |
| 2021 | 1.56% | 0.83% |
| 2020 | 1.64% | 1.88% |
| 2019 | 2.37% | 2.52% |
| 2018 | 2.05% | 2.15% |
| 2017 | 1.53% | 1.95% |
| 2016 | 2.72% | 2.75% |
| 2015 | 4.23% | 3.37% |
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. 2024.
Bank Of New Zealand 23/11/2026 Frn
New Zealand NZ Fixed Interest AA-
ANZ 10 A/C - Current Accounts
New Zealand Cash and Equivalents AA-
NZ Government Index Linked Bond 20/09/2025 2.00%
New Zealand NZ Fixed Interest AAA
NZ Local Government Funding Agency 15/04/25 2.75%
New Zealand Cash and Equivalents AAA
Westpac NZ Limited 06/07/2026 Frn
New Zealand NZ Fixed Interest AA-
Auckland Int Airport Ltd 11/10/2025 Frn
New Zealand NZ Fixed Interest A-
Transpower NZ Limited 04/09/25 1.735%
New Zealand NZ Fixed Interest AA
Auckland Council 04/10/2027 Frn
New Zealand NZ Fixed Interest AA
Rabobank NZ Limited 05/04/2027 Frn
New Zealand NZ Fixed Interest AA
NZ Local Government Funding Agency 15/04/27 4.50%
New Zealand NZ Fixed Interest AAA
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 75.0% | 27.36% |
| New Zealand Fixed Interest | 12.5% | 62.41% |
| International Fixed Interest | 12.5% | 10.23% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 0.0% | 0.0% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2024.
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. 2024 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.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Genesis Energy is engaged in energy generation, trading and selling of electricity, and owns a portfolio of fossil fuel and renewable generation assets across New Zealand. Evidence shows that thermal generation from gas represents a significant portion of the company's total power generation (from the Huntly power station), and that oil and gas power revenues represent approximately 35% of the company's total revenue.
Fund type: Defensive fund
Past Returns: *4.00%The Fund aims to provide stable returns and reduce the potential of capital loss over the short to medium term by investing in cash and fixed interest assets.
| Value | $109M NZD |
| Period of data report | 31st Dec. 2024 |
| Members | 7,057 |
| Fund started | 1st June 2012 |
| Total annual fund fees | 0.71% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.69% |
| Other management and administration charges | 0.02% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Ashley Gardyne |
Currently: Chief Investment Officer (3 years, 6 months)
|
|
Quin Casey |
Currently: Senior Portfolio Manager, Fixed Interest (0 years, 5 months)
|
|
Matt Logan |
Currently: Portfolio Manager - Credit (0 years, 4 months)
|
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2024.
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 |
|---|---|---|
| 2024 | 3.40% | 3.27% |
| 2023 | -0.13% | 1.33% |
| 2022 | -1.68% | -1.57% |
| 2021 | 1.56% | 0.83% |
| 2020 | 1.64% | 1.88% |
| 2019 | 2.37% | 2.52% |
| 2018 | 2.05% | 2.15% |
| 2017 | 1.53% | 1.95% |
| 2016 | 2.72% | 2.75% |
| 2015 | 4.23% | 3.37% |
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. 2024.
Bank Of New Zealand 23/11/2026 Frn
New Zealand NZ Fixed Interest AA-
ANZ 10 A/C - Current Accounts
New Zealand Cash and Equivalents AA-
NZ Government Index Linked Bond 20/09/2025 2.00%
New Zealand NZ Fixed Interest AAA
NZ Local Government Funding Agency 15/04/25 2.75%
New Zealand Cash and Equivalents AAA
Westpac NZ Limited 06/07/2026 Frn
New Zealand NZ Fixed Interest AA-
Auckland Int Airport Ltd 11/10/2025 Frn
New Zealand NZ Fixed Interest A-
Transpower NZ Limited 04/09/25 1.735%
New Zealand NZ Fixed Interest AA
Auckland Council 04/10/2027 Frn
New Zealand NZ Fixed Interest AA
Rabobank NZ Limited 05/04/2027 Frn
New Zealand NZ Fixed Interest AA
NZ Local Government Funding Agency 15/04/27 4.50%
New Zealand NZ Fixed Interest AAA
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 75.0% | 27.36% |
| New Zealand Fixed Interest | 12.5% | 62.41% |
| International Fixed Interest | 12.5% | 10.23% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 0.0% | 0.0% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2024.
