Kiwi Wealth Conservative

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Mindful Fund
Type: Conservative fund
Past Returns: 5.21%

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

Annual Fees: 0.9%

Annual fees, including management and administration fees, but not membership 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

Aker BP Asa - 4.75% 15 Jun 24 15/6/2024 0.20%
BHP Group Ltd 0.01%
Chevron Corp 0.02%
Coca-Cola Co/The 0.03%
Conocophillips 0.01%
Eog Resources Inc 0.05%
Genesis Energy Ltd 0.01%
Neste Oyj 0.02%
Nippon Yusen Kk 0.02%
OMV AG 0.01%
Oneok Partners Lp - 4.9% 15 Mar 25 15/3/2025 0.04%
Oneok Partners Lp - 5% 15 Sep 23 15/9/2023 0.04%
Pioneer Natural Resources Co 0.02%
Total Capital International SA - 2.75% 19 Jun 21 19/6/2021 0.08%
Total Capital International SA - 4.25% 26 Nov 21 26/11/2021 0.01%
Total SA 0.02%
Williams Cos Inc/The 0.02%
Williams Cos Inc/The - 4.5% 15 Nov 23 15/11/2023 0.28%

Weapons

Amphenol Corp 0.10%
Booz Allen Hamilton Holding Corp 0.05%
Canadian Tire Corp Ltd 0.04%
Embraer SA 0.01%
L3Harris Technologies Inc 0.04%
Raytheon Technologies Corp 0.02%
Safran SA 0.01%
Teledyne Technologies Inc 0.11%

Tobacco

Gambling

Evolution Gaming Group Ab 0.04%
Skycity Entertainment Group Ltd 0.02%
William Hill PLC - 4.875% 07 Sep 23 7/9/2023 0.22%

Alcohol

Ambev SA-Adr 0.03%
Brown-Forman Corp 0.03%
Carlsberg A/S 0.02%
Constellation Brands Inc 0.09%
Diageo PLC 0.02%
LVMH Moet Hennessy Louis Vuitton Se 0.22%

Palm Oil

GMOs

Corteva Inc 0.06%

Human Rights & Environmental Violations

Archer-Daniels-Midland Co 0.05%
BHP Group Ltd 0.01%
Chevron Corp 0.02%
Duke Energy Corp 0.02%
Johnson & Johnson 0.31%
Johnson & Johnson - 0.65% 20 May 24 20/5/2024 0.41%
Johnson & Johnson - 2.9% 15 Jan 28 15/1/2028 0.02%
Nestle Holdings Inc - 1% 15 Sep 27 15/9/2027 0.18%
Nestle SA 0.24%
Rio Tinto Ltd 0.03%
Rio Tinto PLC 0.01%

Animal Testing

Air Liquide SA 0.010%
Archer-Daniels-Midland Co 0.050%
Ashland Global Holdings Inc 0.030%
Avantor Inc 0.020%
Axalta Coating Systems Ltd 0.030%
Chevron Corp 0.020%
Coca-Cola Co/The 0.030%
Corteva Inc 0.060%
Danone SA - 3% 15 Jun 22 15/6/2022 0.030%
Dow Inc 0.060%
Eastman Chemical Co 0.010%
Ecolab Inc 0.030%
Estee Lauder Cos Inc/The 0.060%
General Mills Inc 0.050%
Glaxosmithkline PLC 0.030%
Hermes International 0.020%
Hp Inc 0.060%
Johnson & Johnson 0.310%
Johnson & Johnson - 0.65% 20 May 24 20/5/2024 0.410%
Johnson & Johnson - 2.9% 15 Jan 28 15/1/2028 0.020%
Kellogg Co 0.040%
Kimberly-Clark Corp 0.020%
L'Oreal SA 0.180%
LVMH Moet Hennessy Louis Vuitton Se 0.220%
Linde PLC 0.030%
Mondelez International Inc 0.020%
Nestle Holdings Inc - 1% 15 Sep 27 15/9/2027 0.180%
Nestle SA 0.240%
Nissan Chemical Corp 0.020%
PPG Industries Inc 0.010%
Pepsico Inc 0.210%
Procter & Gamble Co/The 0.360%
Procter & Gamble Co/The - 1.125% 02 Nov 23 2/11/2023 0.170%
Ralph Lauren Corp 0.010%
Reckitt Benckiser Group PLC 0.010%
Sherwin-Williams Co/The 0.060%
Shin-Etsu Chemical Co Ltd 0.030%
Spectrum Brands Holdings Inc 0.030%
Unilever PLC 0.020%
Yara International Asa 0.020%

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 March 31st 2021 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.

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
2021 8.80% 11.73%
2020 0.59% -0.02%
2019 4.26% 3.92%
2018 3.73% 3.92%
2017 4.10% 2.94%
2016 3.52% 2.21%
2015 8.10% 8.01%
2014 3.88% 4.29%
2013 6.92% 5.94%
2012 3.16% 3.17%

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 Wed June 30th 2021.

Showing the top 10 investments for this fund:

  • Westpac NZD Account
    New Zealand Cash and Equivalents AA-
    7.91%
  • New Zealand Local Government Funding Agency Bond 3.5% 14/4/2033
    New Zealand NZ Fixed Interest AAA
    2.7%
  • New Zealand Local Government Funding Agency Bond 4.5% 15/4/2027
    New Zealand NZ Fixed Interest AAA
    2.35%
  • New Zealand Local Government Funding Agency Bond 1.5% 20/4/2029
    New Zealand NZ Fixed Interest AAA
    2.15%
  • Housing New Zealand Ltd 3.42% 18/10/2028
    New Zealand NZ Fixed Interest AAA
    2.01%
  • Kommunalbanken As 4% 20/8/2025
    Norway Int Fixed Interest AAA
    1.94%
  • International Bank For Reconstruction & Development 1.625% 10/5/2028
    United States Int Fixed Interest AAA
    1.78%
  • Landwirtschaftliche Rentenbank 0.75% 9/6/2025
    Germany Int Fixed Interest AAA
    1.64%
  • Kommunalbanken As 1.25% 2/7/2030
    Norway Int Fixed Interest AAA
    1.56%
  • New Zealand Government Bond 2% 15/5/2032
    New Zealand NZ Fixed Interest AAA
    1.55%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Wed June 30th 2021.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 35.0% 10.37%
New Zealand Fixed Interest 35.0% 32.31%
International Fixed Interest 0.0% 25.16%
Australasian Equities 0.0% 2.3%
International Equities 30.0% 27.48%
Listed Properties 0.0% 0.53%
Unlisted Properties 0.0% 0.0%
Other 0.0% 1.85%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Wed June 30th 2021.

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).

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:
    0.43%
  • Animal Testing:
    3.40%
  • Fossil Fuels:
    1.07%
  • Gambling:
    0.30%
  • GMOs:
    0.06%
  • Human Rights & Environmental Violations:
    1.36%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.02%
  • Weapons:
    0.40%

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 March 31st 2021 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 the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or their policy may be less stringent than the definitions applied by Mindful Money.

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.

In their own words

"The Conservative Fund is invested up to 35% in shares andother growth assets with the remainder invested in cash andfixed interest assets. Its objective is to exceed the returns youwould receive from investing 70% of your funds in NewZealand fixed interest assets and cash and 30% in globalshares through active asset allocation and active selection ofshares and other growth assets fixed interest and cash assets. Kiwi Wealth is 100% Kiwi-owned and operated and our team is based right here in New Zealand. We're ultimately owned by the NZ Super Fund, ACC and NZ Post, so our profits stay in New Zealand too. We invest our members’ money in companies that meet our strict environmental, social and governance criteria. For example, we don’t invest in nuclear weapons, tobacco and whaling. Your money not only gets invested in New Zealand but across the globe too, helping to diversify your investment."

Value $970M NZD
Period of data report Wed June 30th 2021
Members 50,473
Fund started Mon Oct. 1st 2007
Total annual fund fees 0.9%
Total performance based fees 0.0%
Manager's basic fee 0.86%
Other management and administration charges 0.04%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Simon O'Grady

Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (8 years, 8 months)
Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, 0 months)

Diana Gordon

Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (8 years, 10 months)
Previously: Senior High Yield Portfolio Manager Goldman Sachs Asset Management New York (10 years, 10 months)

Nathan Field

Currently: Head of Thematic Equities - Kiwi Wealth Investments Limited Partnership (11 years, 1 months)
Previously: Senior Equity Analyst - ABN Amro Sydney (4 years, 6 months)

Steffan Berridge

Currently: Head of Quantitative Investment - Kiwi Wealth Investments Limited Partnership (7 years, 9 months)
Previously: Portfolio Manager - Man Group PLC (9 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Wed June 30th 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.