Average annual returns over the past 3 years, after fees and taxes. * indicates less than 3 years of data.
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 0.14%
BHP Group Ltd 0.10%
Origin Energy Limited 0.07%
Agl Energy Ltd 5% 11/05/2021 0.07%
Cooper Energy Ltd 0.02%
Senex Energy Ltd 0.02%
Beach Energy Ltd 0.01%
Santos Ltd 0.01%
Weapons
Safran Sa 0.39%
Transdigm Group Inc 0.08%
Gambling
Crown Resorts Ltd Frn 04/23/2075 0.32%
Aristocrat Leisure Ltd 0.02%
Alcohol
Lvmh Moet Hennessy Louis Vui 0.24%
Delegat Group Ltd 0.16%
Metcash Limited 0.13%
Human Rights & Environmental Violations
BHP Group Ltd 0.10%
Rio Tinto Ltd 0.08%
Rio Tinto Plc-Spon Adr 0.06%
Animal Testing
Reckitt Benckiser Group Plc 0.590%
L'Oreal Sa - Pf 0.280%
Lvmh Moet Hennessy Louis Vui 0.240%
Estee Lauder Cos Inc/The 0.210%
L'Oreal Sa 0.160%
Ecolab Inc 0.130%
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 | FND748 |
| Name | Milford KiwiSaver Balanced Fund |
| Risk profile | Balanced fund |
| Description | The Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of five years.It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities. |
| Value | $410M NZD |
| Members | 9,386 |
| Market index description | The market index return is the benchmark asset allocation weighted benchmark index return, as defined in the Statement of Investment Policy and Objectives. |
| Period of data report | Tue June 30th 2020 |
| Fund started | Thu April 1st 2010 |
| Three-year average return | 4.25% |
| Market index past year return | 2.34% |
| Past year return net of charges and tax | 4.02% |
| Past year return net of charges gross of tax | 4.7% |
| Market index return since fund started | 9.38% |
| Return since fund started net | 8.88% |
| Total annual fund fees | 1.28% |
| Total performance based fees | 0.22% |
| Manager's basic fee | 1.04% |
| Administration charges | 0.02% |
| Total other charges | 36.0 |
| Total other charges currency | NZD |
Key Personnel
-
Jonathan Windust
Currently: Portfolio Manager (12 years, 3 months)
Previously: Investment Director at Gartmore Investment Management, United Kingdom (7 years, 0 months) -
Jonathan Windust
Currently: Portfolio Manager (12 years, 3 months)
Previously: Investment Director at Gartmore Investment Management, United Kingdom (7 years, 0 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) -
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) -
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) -
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) -
Stephen Johnston
Currently: Portfolio Manager (6 years, 9 months)
Previously: Senior Portfolio Manager at Adelante Asset Management, United Kingdom (4 years, 0 months) -
William Curtayne
Currently: Portfolio Manager (6 years, 9 months)
Previously: Senior Analyst at Milford Asset Management, New Zealand (2 years, 8 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 | -1.89% | -0.86% |
| 2019 | 5.68% | 6.15% |
| 2018 | 5.63% | 7.45% |
| 2017 | 6.10% | 8.25% |
| 2016 | 4.01% | 4.31% |
| 2015 | 11.09% | 15.12% |
| 2014 | 7.28% | 10.47% |
| 2013 | 10.75% | 17.52% |
| 2012 | 1.75% | 3.34% |
| 2011 | 5.30% | 4.2% |
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-4.13% -
A2 Milk Company Ltd
New Zealand Australasian Equities1.82% -
Spark New Zealand Ltd
New Zealand Australasian Equities1.78% -
Fisher & Paykel Healthcare Ltd
New Zealand Australasian Equities1.73% -
USD Cash Current Account (Citibank)
United States Cash and Equivalents A+1.49% -
AUD Cash Current Account (Nab Bank)
Australia Cash and Equivalents AA-1.33% -
Microsoft Corporation
United States International Equities1.28% -
Amazon.Com Inc
United States International Equities1.17% -
Alphabet Inc - Class C
United States International Equities1.16% -
NZD Margin Account (Macquarie)
New Zealand Cash and Equivalents BBB+1.16%
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 | 8.0% | 18.01% |
| New Zealand Fixed Interest | 8.0% | 6.78% |
| International Fixed Interest | 23.0% | 23.22% |
| Australasian Equities | 29.0% | 23.52% |
| International Equities | 26.0% | 21.03% |
| Listed Properties | 6.0% | 5.9% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 1.54% |
| 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 concernDoes this fund say it excludes this?Actual holdings
-
Adult Entertainment/Pornography:0.00%
-
Alcohol:0.53%
-
Animal Testing:1.61%
-
Fossil Fuels:0.44%
-
Gambling:0.34%
-
GMOs:0.00%
-
Human Rights & Environmental Violations:0.24%
-
Palm Oil:0.00%
-
Tobacco:0.00%
-
Weapons:0.47%
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 Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of five years.It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities."
Download the fund's disclosure statement and portfolio holdings.
