Milford KiwiSaver Conservative Fund

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Not Mindful
Type: Conservative fund
Past Returns: 3.31%

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

Annual Fees: 0.95%

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

Apa Group 0.05%
BHP Group Ltd 0.02%
BHP Group PLC 0.13%

Weapons

Amphenol Corp-Cl A 0.09%
Safran SA 0.09%
Transdigm Group Inc 0.08%

Gambling

Crown Resorts Ltd Frn 04/23/2075 0.45%

Alcohol

Delegat Group Ltd 0.03%

Human Rights & Environmental Violations

BHP Group Ltd 0.02%
BHP Group PLC 0.13%

Animal Testing

Ecolab Inc 0.110%
L'Oreal SA 0.030%
L'Oreal SA - Pf 0.060%
Reckitt Benckiser Group PLC 0.100%

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 1.07% 0.99%
2019 4.40% 4.4%
2018 3.80% 4.53%
2017 4.16% 5.46%
2016 3.52% 3.08%
2015 8.10% 15.07%
2014 3.88% 8.53%

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:

  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    4.26%
  • Scentre Group 5.125% 24/09/2080
    Australia Int Fixed Interest BBB+
    1.2%
  • NZ Local Government Funding 1.5% 20/04/2029
    New Zealand NZ Fixed Interest AA+
    1.11%
  • Housing New Zealand 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AA+
    1.06%
  • Westpac 2.22% 29/07/2024
    New Zealand NZ Fixed Interest AA-
    1.01%
  • NZ Local Government Funding 3.5% 14/04/2033
    New Zealand NZ Fixed Interest AA+
    1.01%
  • International Bank For Reconstruction and Development 0.625% 24/09/2027
    United States NZ Fixed Interest AAA
    0.94%
  • National Australia Bank Float 18/11/2030
    Australia Int Fixed Interest BBB+
    0.88%
  • Kiwibank 2.36% 11/12/2030
    New Zealand NZ Fixed Interest BBB-
    0.88%
  • Transpower 1.735% 04/09/2025
    New Zealand NZ Fixed Interest AA-
    0.87%

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 7.0% 7.15%
New Zealand Fixed Interest 25.0% 23.89%
International Fixed Interest 50.0% 48.61%
Australasian Equities 4.0% 8.13%
International Equities 9.0% 7.72%
Listed Properties 5.0% 3.18%
Unlisted Properties 0.0% 0.0%
Other 0.0% 1.32%
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:
    0.00%
  • Alcohol:
    0.03%
  • Animal Testing:
    0.30%
  • Fossil Fuels:
    0.20%
  • Gambling:
    0.45%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.15%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.26%

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.

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 Fund's objective is to provide moderate returns and protect capital after the base fund fee but before tax over the minimum recommended investment timeframe of three years."

Value $180M NZD
Period of data report Thu Dec. 31st 2020
Members 4,170
Fund started Mon Oct. 1st 2012
Total annual fund fees 0.95%
Total performance based fees 0.0%
Manager's basic fee 0.91%
Administration charges 0.04%
Total other charges 36.0
Total other charges currency NZD

Key Personnel

Paul Morris

Currently: Portfolio Manager (4 years, 11 months)
Previously: Head of Portfolio Strategy and Fixed Income at Macquarie Private Wealth New Zealand (4 years, 6 months)

Mark Riggall

Currently: Portfolio Manager Senior Dealer (6 years, 0 months)
Previously: Executive Director of Equity Derivatives Trading at Morgan Stanley United Kingdom and Hong Kong (11 years, 0 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.

Latest news

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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.