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

Agl Energy Ltd 5% 11/05/2021 0.42%
Apa Group 0.05%
Origin Energy Limited 0.04%

Weapons

Safran SA 0.07%
Transdigm Group Inc 0.02%

Gambling

Crown Resorts Ltd Frn 04/23/2075 0.42%

Alcohol

Delegat Group Ltd 0.02%
LVMH Moet Hennessy Louis Vui 0.04%
Metcash Limited 0.01%

Animal Testing

Ecolab Inc 0.020%
Estee Lauder Cos Inc/The 0.040%
L'Oreal SA 0.010%
L'Oreal SA - Pf 0.060%
LVMH Moet Hennessy Louis Vui 0.040%
Reckitt Benckiser Group PLC 0.110%

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 March 31st 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.

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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    6.04%
  • NZ Local Government Funding 1.5% 20/04/2029
    New Zealand NZ Fixed Interest AA+
    1.42%
  • Housing New Zealand 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AA+
    1.24%
  • John Deere 1.75% 04/10/2024
    United States Int Fixed Interest A
    1.12%
  • NZ Local Government Funding 3.5% 14/04/2033
    New Zealand NZ Fixed Interest AA+
    1.11%
  • Westpac 2.22% 29/07/2024
    New Zealand NZ Fixed Interest AA-
    1.11%
  • ASB Bank 1.83% 19/08/2024
    New Zealand NZ Fixed Interest AA-
    1.1%
  • ANZ Bank 3.03% 20/03/2024
    New Zealand NZ Fixed Interest AA-
    0.99%
  • Ing Group 1.45% 20/08/2024
    Australia Int Fixed Interest AAA
    0.96%
  • National Housing Finance and Investment Corp 1.41% 2032
    Australia Int Fixed Interest AAA
    0.94%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 6.0% 12.8%
New Zealand Fixed Interest 35.0% 23.96%
International Fixed Interest 41.0% 49.08%
Australasian Equities 6.0% 4.41%
International Equities 8.0% 6.5%
Listed Properties 4.0% 2.41%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.84%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Tue June 30th 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:
    0.07%
  • Animal Testing:
    0.28%
  • Fossil Fuels:
    0.51%
  • Gambling:
    0.42%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.00%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.09%

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 March 31st 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 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.It is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities."

Value $180M NZD
Period of data report Tue June 30th 2020
Members 4,358
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, 5 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 (5 years, 6 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 Tue June 30th 2020.

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.