Milford KiwiSaver Balanced Fund

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Not Mindful
Type: Balanced fund
Past Returns: 4.25%

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

Annual Fees: 1.28%

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 Equities
    1.82%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    1.78%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    1.73%
  • 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 Equities
    1.28%
  • Amazon.Com Inc
    United States International Equities
    1.17%
  • Alphabet Inc - Class C
    United States International Equities
    1.16%
  • 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 concern
    Does 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.

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