Kiwi Wealth Default

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Not Mindful
Type: Conservative fund
Past Returns: 2.95%

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

Annual Fees: 0.73%

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

Bp Capital Markets Plc 10/2/2024 0.32%
Chevron Corp 16/5/2021 0.19%
Total Capital International Sa 2/9/2020 0.19%
Aker Bp Asa 15/6/2024 0.16%
Nextera Energy Inc 0.11%
Chevron Corp 0.08%
Total Capital International Sa 19/6/2021 0.08%
Bp Plc 0.06%
Total Sa 0.05%
Exxon Mobil Corp 0.04%
American Electric Power Co Inc 0.04%
Royal Dutch Shell 0.04%
Xcel Energy Inc 0.04%
Eog Resources Inc 0.03%
Pioneer Natural Resources Co 0.03%
Oneok Partners Lp 15/9/2023 0.03%
Royal Dutch Shell B Shares 0.03%
Ameren Corp 0.03%
Oneok Partners Lp 15/3/2025 0.03%
Enbridge Inc 0.03%
BHP Billiton 0.03%
Cms Energy Corp 0.03%
BHP Billiton Plc 0.03%
Marathon Petroleum Corp 0.02%
Snam Spa 0.02%
Oneok Inc 0.02%
Rwe Ag 0.02%
Cnooc Ltd 0.01%
Suncor Energy Inc 0.01%
Lukoil Pjsc 0.01%
Phillips 66 0.01%
Diamondback Energy Inc 0.01%
Jxtg Holdings Inc 0.01%
Ptt Pcl/Foreign 0.01%
Total Capital International 4.25% 26/11/2021 26/11/2021 0.01%
China Shenhua Energy Co-H 0.01%
Canadian Natural Resources Ltd 0.01%
Tatneft Pjsc 0.01%
Conocophillips 0.01%
Clp Holdings Ltd 0.01%
Gazprom Pjsc 0.01%
Lyondellbasell Industries Nv 0.01%
Electric Power Development Co Ltd 0.01%
Tenaga Nasional Bhd 0.01%
China Petroleum & Chemical-H 0.01%
Lundin Petroleum Ab 0.01%
Emera Inc 0.01%
S-Oil Corp 0.01%
Ptt Explor & Prod Pcl-Nvdr 0.01%

Weapons

United Technologies Corp 0.07%
Raytheon Co 0.06%
Airbus Se 0.03%
Thales Sa 0.03%
Safran Sa 0.03%
L3Harris Technologies Inc 0.02%
Boeing Co/The 0.01%

Gambling

William Hill Plc 7/9/2023 0.14%
Galaxy Entertainment Group Ltd 0.01%
Las Vegas Sands Corp 0.01%
Sands China Ltd 0.01%

Alcohol

Constellation Brands Inc 1/5/2021 0.15%
Diageo Plc 0.07%
Constellation Brands Inc-A 0.06%
Lvmh Moet Hennessy Louis Vuitton Se 0.06%
Pernod Ricard Sa 0.03%
Heineken Nv 0.03%
Carlsberg A/S 0.02%
Anheuser-Busch Inbev Nv 0.02%
Davide Campari-Milano Spa 0.02%
Kirin Holdings Co Ltd 0.01%
Asahi Group Holdings Ltd 0.01%
Ambev Sa 0.01%
Kweichow Moutai Co Ltd 0.01%
Jiangsu Yanghe Brewery Joint-Stock Co Ltd 0.01%

Palm Oil

Posco 0.01%

GMOs

Novartis 0.12%
Novozymes A/S-B Shares 0.02%
Dupont De Nemours Inc 0.02%
Basf Se 0.01%
Nutrien Ltd 0.01%

Human Rights & Environmental Violations

Johnson & Johnson 20/5/2024 0.37%
Nestle S.A. 0.19%
Johnson & Johnson 0.13%
Chevron Corp 0.08%
Royal Dutch Shell 0.04%
Duke Energy Corp 0.04%
Royal Dutch Shell B Shares 0.03%
BHP Billiton 0.03%
BHP Billiton Plc 0.03%
Sempra Energy 0.02%
Johnson & Johnson 15/1/2028 0.02%
Rio Tinto Ltd 0.02%
Nutrien Ltd 0.01%
Posco 0.01%
Grupo Mexico Sab De Cv 0.01%

Animal Testing

Johnson & Johnson 20/5/2024 0.370%
Tesco Corporate Treasury Services Plc 1/7/2024 0.220%
Nestle S.A. 0.190%
Ecolab Inc 8/12/2021 0.190%
Procter & Gamble Co/The 0.180%
Procter & Gamble Co/The 2/11/2023 0.160%
Johnson & Johnson 0.130%
Coca Cola 0.110%
Chevron Corp 0.080%
Unilever Plc 0.070%
Lvmh Moet Hennessy Louis Vuitton Se 0.060%
Kimberly-Clark Corp 0.050%
Pepsico Inc 0.050%
Royal Dutch Shell 0.040%
Glaxosmithkline Plc 0.040%
General Mills Inc 0.040%
Air Liquide Sa 0.030%
Royal Dutch Shell B Shares 0.030%
Akzo Nobel Nv 0.030%
Danone Sa 15/6/2022 0.030%
Tesco Plc 0.030%
Air Products & Chemicals Inc 0.030%
Johnson & Johnson 15/1/2028 0.020%
L'Oreal Sa 0.020%
Novozymes A/S-B Shares 0.020%
Burberry Group Plc 0.020%
Shiseido Co Ltd 0.020%
Reckitt Benckiser Group Plc 0.020%
Arkema Sa 0.020%
Basf Se 0.010%
Estee Lauder Cos Inc/The 0.010%
Henkel Ag & Co Kgaa Vorzug 0.010%
Mitsui Chemicals Inc 0.010%
Danone Sa 0.010%
Givaudan - Reg 0.010%
Ppg Industries Inc 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 Tue June 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 and research organisations.

A summary of this fund and its details.

Number FND553
Name Kiwi Wealth Default
Risk profile Conservative fund
Description The Default Fund is intended for short-term investment until you choose the best fund(s) for your circumstances. It holds 15% to 25% in shares and other growth assets at all times, with the remainder invested in a combination of cash and fixed interest assets. Its objective is to deliver a benchmark return similar to being invested in a fund of 50% in New Zealand cash, 30% in New Zealand fixed interest assets and 20% in shares and other growth assets.
Value $300M NZD
Members 34,806
Market index description The market index return is the strategic asset allocation weighted benchmark index return, where the benchmark indicies are defined in the Statement of Investment Policy and Objectives. Additional information about the market index is available on the Disclose offer register at https://disclose-register.companiesoffice.govt.nz/
Period of data report Tue June 30th 2020
Fund started Tue July 1st 2014
Three-year average return 2.95%
Market index past year return 3.46%
Past year return net of charges and tax 3.64%
Past year return net of charges gross of tax 4.81%
Market index return since fund started 5.00%
Return since fund started net 4.02%
Total annual fund fees 0.73%
Total performance based fees 0.0%
Manager's basic fee 0.69%
Administration charges 0.04%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 10 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 10 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 10 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 10 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 10 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

  • Diana Gordon

    Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 10 months)
    Previously: Senior High Yield Portfolio Manager, Goldman Sachs Asset Management, New York (10 years, 10 months)

  • Greg Hayton

    Currently: Cash Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (10 years, 8 months)
    Previously: Portfolio Administrator - Gareth Morgan Investments Limited Partnership (1 years, 6 months)

  • Greg Hayton

    Currently: Cash Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (10 years, 8 months)
    Previously: Portfolio Administrator - Gareth Morgan Investments Limited Partnership (1 years, 6 months)

  • Greg Hayton

    Currently: Cash Portfolio Manager & Senior Fixed Income Trader - Kiwi Wealth Investments Limited Partnership (10 years, 8 months)
    Previously: Portfolio Administrator - Gareth Morgan Investments Limited Partnership (1 years, 6 months)

  • Nathan Field

    Currently: Portfolio Manager, Equities - Kiwi Wealth Investments Limited Partnership (10 years, 1 months)
    Previously: Senior Equity Analyst - ABN Amro, Sydney (4 years, 6 months)

  • Nathan Field

    Currently: Portfolio Manager, Equities - Kiwi Wealth Investments Limited Partnership (10 years, 1 months)
    Previously: Senior Equity Analyst - ABN Amro, Sydney. (4 years, 6 months)

  • Nathan Field

    Currently: Portfolio Manager, Equities - Kiwi Wealth Investments Limited Partnership (10 years, 1 months)
    Previously: Senior Equity Analyst - ABN Amro, Sydney (4 years, 6 months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 8 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, 0 months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 8 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, 0 months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 8 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, None months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 8 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, None months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 8 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, 0 months)

  • Simon O'Grady

    Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 8 months)
    Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, None months)

  • Steffan Berridge

    Currently: Head of Quantitative Strategy - Kiwi Wealth Investments Limited Partnership (6 years, 9 months)
    Previously: Portfolio Manager - Man Group PLC (9 years, None months)

  • Steffan Berridge

    Currently: Head of Quantitative Strategy - Kiwi Wealth Investments Limited Partnership (6 years, 9 months)
    Previously: Portfolio Manager - Man Group PLC (9 years, 0 months)

  • Steffan Berridge

    Currently: Head of Quantitative Strategy - Kiwi Wealth Investments Limited Partnership (6 years, 9 months)
    Previously: Portfolio Manager - Man Group PLC (9 years, None months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Tue June 30th 2020.

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 1.07% 1.24%
2019 4.40% 3.69%
2018 3.80% 3.92%
2017 4.16% 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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

  • Westpac NZD Account
    New Zealand Cash and Equivalents AA-
    6.7%
  • New Zealand Local Government Funding Agency Bond 14/4/2033
    New Zealand NZ Fixed Interest AA+
    2.39%
  • Landwirtschaftliche Rentenbank 23/4/2024
    Germany Int Fixed Interest AAA
    1.75%
  • Kommunalbanken As 20/8/2025
    Norway Int Fixed Interest AAA
    1.65%
  • Housing New Zealand Ltd 18/10/2028
    New Zealand NZ Fixed Interest AA+
    1.58%
  • New Zealand Local Government Funding Agency Bond 15/4/2027
    New Zealand NZ Fixed Interest AA+
    1.56%
  • Australia Government Bond 21/4/2037
    Australia Int Fixed Interest AA+
    1.53%
  • New Zealand Treasury Bill 23/9/2020
    New Zealand Cash and Equivalents AA+
    1.29%
  • International Bank For Reconstruction & Development 19/2/2025
    United States Int Fixed Interest AAA
    1.08%
  • Housing New Zealand Ltd 24/4/2030
    New Zealand NZ Fixed Interest AA+
    0.98%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register 30 June 2020 .

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 50.0% 39.37%
New Zealand Fixed Interest 30.0% 18.13%
International Fixed Interest 0.0% 23.33%
Australasian Equities 0.0% 0.34%
International Equities 20.0% 18.49%
Listed Properties 0.0% 0.34%
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 30 June 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:
    0.00%
  • Alcohol:
    0.51%
  • Animal Testing:
    2.37%
  • Fossil Fuels:
    2.00%
  • Gambling:
    0.17%
  • GMOs:
    0.18%
  • Human Rights & Environmental Violations:
    1.03%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.00%
  • Weapons:
    0.25%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Tue June 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 and research organisations.

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: "The Default Fund is intended for short-term investment until you choose the best fund(s) for your circumstances. It holds 15% to 25% in shares and other growth assets at all times, with the remainder invested in a combination of cash and fixed interest assets. Its objective is to deliver a benchmark return similar to being invested in a fund of 50% in New Zealand cash, 30% in New Zealand fixed interest assets and 20% in shares and other growth assets."

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.