Funds
Kiwi Wealth Default Conservative
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
Fossil Fuel
- Contact Energy Ltd 4.63% 15 Nov 22 15/11/2022 0.35%
- Williams Cos Inc/The 4.5% 15 Nov 23 15/11/2023 0.24%
- Genesis Energy Ltd 5.81% 08 Mar 23 8/3/2023 0.09%
- Nextera Energy Inc 0.09%
- BHP Group Ltd 0.06%
- Iberdrola SA 0.06%
- Sempra Energy 0.06%
- Ameren Corp 0.04%
- Rwe AG 0.04%
- Contact Energy Ltd 4.33% 19 Nov 51 19/11/2051 0.03%
- Itochu Corp 0.03%
- Kinder Morgan Inc/De 0.03%
- Cheniere Energy Inc 0.02%
- Mitsubishi Corp 0.02%
- Tc Energy Corp 0.02%
- Williams Cos Inc/The 0.02%
- Ck Asset Holdings Ltd 0.01%
- Evergy Inc 0.01%
Weapons
- Wal-Mart De Mexico Sab De Cv 0.01%
Tobacco
- Alimentation Couche-Tard Inc 0.02%
Gambling
- Skycity Entertainment Group Ltd 3.02% 21 May 27 21/5/2027 0.15%
- Sands China Ltd 0.01%
Alcohol
- Constellation Brands Inc 4.35% 09 May 27 9/5/2027 0.25%
- Diageo PLC 0.07%
- Diageo Capital Bv 1.5% 08 Jun 29 8/6/2029 0.06%
- Constellation Brands Inc 0.05%
- Carlsberg A/S 0.04%
- Asahi Group Holdings Ltd 0.02%
- Endeavour Group Ltd/Australia 0.01%
- Pernod Ricard SA 0.01%
Human Rights & Environmental Violations
- Johnson & Johnson 0.65% 20 May 24 20/5/2024 0.31%
- Meta Platforms Inc 3.5% 15 Aug 27 15/8/2027 0.25%
- Nestle Holdings Inc 4.125% 01 Oct 27 1/10/2027 0.24%
- Wells Fargo & Co 3.75% 24 Jan 24 24/1/2024 0.21%
- Nestle Holdings Inc 1% 15 Sep 27 15/9/2027 0.15%
- Meta Platforms Inc 0.14%
- Nestle SA 0.14%
- Thermo Fisher Scientific Inc 0.14%
- Johnson & Johnson 0.13%
- Wells Fargo & Co 0.13%
- Mattel Inc 5.875% 15 Dec 27 15/12/2027 0.09%
- BHP Group Ltd 0.06%
- Johnson & Johnson 0.55% 01 Sep 25 1/9/2025 0.06%
- Rio Tinto PLC 0.04%
- Chemours Co/The 5.375% 15 May 27 15/5/2027 0.03%
- Nutrien Ltd 0.03%
- Uber Technologies Inc 0.03%
- Johnson & Johnson 2.9% 15 Jan 28 15/1/2028 0.02%
- Motorola Solutions Inc 0.02%
- Rio Tinto Ltd 0.02%
Animal Cruelty
- Unilever Capital Corp 2.9% 05 May 27 5/5/2027 0.34%
- Constellation Brands Inc 4.35% 09 May 27 9/5/2027 0.25%
- Nestle Holdings Inc 4.125% 01 Oct 27 1/10/2027 0.24%
- Pilgrim'S Pride Corp 5.875% 30 Sep 27 30/9/2027 0.24%
- Air Liquide Finance SA 2.5% 27 Sep 26 27/9/2026 0.21%
- Coca-Cola Co/The 0.15%
- Nestle Holdings Inc 1% 15 Sep 27 15/9/2027 0.15%
- Nestle SA 0.14%
- Procter & Gamble Co/The 1.125% 02 Nov 23 2/11/2023 0.13%
- Procter & Gamble Co/The 2.8% 25 Mar 27 25/3/2027 0.13%
- Procter & Gamble Co/The 0.12%
- LVMH Moet Hennessy Louis Vuitton Se 0.10%
- Darling Ingredients Inc 5.25% 15 Apr 27 15/4/2027 0.07%
- L'Oreal SA 0.06%
- Air Liquide SA 0.05%
- Colgate-Palmolive Co 0.05%
- Constellation Brands Inc 0.05%
- Kraft Heinz Foods Co 3.875% 15 May 27 15/5/2027 0.05%
- PPG Industries Inc 0.05%
- Pepsico Inc 0.05%
- Kimberly-Clark Corp 0.04%
- Mondelez International Inc 0.04%
- Chemours Co/The 5.375% 15 May 27 15/5/2027 0.03%
- Daikin Industries Ltd 0.03%
- Eastman Chemical Co 0.03%
- Koninklijke Dsm Nv 0.03%
- Nutrien Ltd 0.03%
- Unilever PLC 0.03%
- Akzo Nobel Nv 0.02%
- Asahi Group Holdings Ltd 0.02%
- Denso Corp 0.02%
- Dupont De Nemours Inc 0.02%
- Kao Corp 0.02%
- Kering SA 0.02%
- Mitsubishi Corp 0.02%
- Nippon Paint Holdings Co Ltd 0.02%
- Ping An Insurance Group Co Of China Ltd 0.02%
- Sgs SA 0.02%
- Tesco PLC 0.02%
- Koninklijke Ahold Delhaize Nv 0.01%
- Symrise AG 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
In their own words
The Default Fund is intended for short-term investment until you choose the best fund(s) for your circumstances. The Default Fund holds between 15% to 25% in shares and other growth assets, with the remainder invested in a combination of cash and fixed interest assets. Its objective is to exceed the returns you would receive from investing 50% of your funds in New Zealand cash, 30% in New Zealand fixed interest assets and 20% in shares.
| Value | $290M NZD |
| Period of data report | 31st Dec. 2022 |
| Members | 19,609 |
| Fund started | 1st July 2014 |
| Total annual fund fees | 0.62% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.58% |
| Other management and administration charges | 0.04% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Steffan Berridge |
Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (1 years, 1 months) |
|
Diana Gordon |
Currently: Deputy Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (0 years, 6 months) |
|
Greg Hayton |
Currently: NZ Fixed Income Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (2 years, 1 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 | 0.52% | |
| Animal Cruelty | 3.21% | |
| Fossil Fuels | 1.32% | |
| Gambling | 0.17% | |
| GMOs | 0.00% | |
| Human Rights & Environmental Violations | 2.29% | |
| Palm Oil | 0.00% | |
| Tobacco | 0.02% | |
| Weapons | 0.02% |
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% | -0.53% |
| 2021 | 8.73% | 7.8% |
| 2020 | 1.42% | 1.24% |
| 2019 | 4.58% | 3.69% |
| 2018 | 3.58% | 3.92% |
| 2017 | 4.10% | 4.65% |
| 2016 | 3.52% | 2.43% |
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
-
Westpac NZD Account
New Zealand Cash and Equivalents AA-5.66% -
Bank Of New Zealand 4.261% 3/2/2023
New Zealand Cash and Equivalents AAA1.94% -
ASB Bank - Td - 3.76% 18/1/2023
New Zealand Cash and Equivalents AA-1.59% -
ANZ Bank Ltd - Td - 4.25% 22/3/2023
New Zealand Cash and Equivalents AA-1.58% -
New Zealand Local Government Funding Agency Bond 3.5% 14/4/2033
New Zealand NZ Fixed Interest AAA1.53% -
Westpac New Zealand - Td - 3.81% 20/1/2023
New Zealand Cash and Equivalents AA-1.42% -
New Zealand Local Government Funding Agency Bond 4.5% 15/4/2027
New Zealand NZ Fixed Interest AAA1.41% -
ANZ Bank Ltd - Td - 3.65% 31/1/2023
New Zealand Cash and Equivalents AA-1.36% -
New Zealand Local Government Funding Agency Bond 1.5% 20/4/2029
New Zealand NZ Fixed Interest AAA1.31% -
Kiwibank Ltd - Td - 5.41% 20/7/2023
New Zealand Cash and Equivalents A+1.28%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 50.0% | 36.77% |
| New Zealand Fixed Interest | 30.0% | 15.02% |
| International Fixed Interest | 0.0% | 28.73% |
| Australasian Equities | 0.0% | 0.3% |
| International Equities | 20.0% | 18.69% |
| Listed Properties | 0.0% | 0.49% |
| 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.
Target
Actual
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2022.