Generate Focused Growth Fund

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Mindful Fund

Fund type: Aggressive fund

Past Returns: 9.08%

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

Annual Fees: 1.39%

Annual fees, including management and administration fees, but not membership 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

Contact Energy Ltd 2.51%
BP PLC 1.49%
Franco-Nevada Corp 0.59%
Conocophillips 0.43%
Eog Resources 0.08%
Sempra Energy 0.07%
Contact Energy Capital Bonds 19/11/51 0.06%
Neste Oyj 0.05%
BHP 0.04%
Galp Energia Sgps 0.04%
Reliance Industries 0.04%
South32 0.04%
Valero Energy Corp 0.04%
Cheniere Energy 0.03%
Consolidated Edison Inc 0.03%
Hess 0.03%
Oneok Inc 0.03%
Sempra 0.03%
Totalenergies 0.03%
Equinor 0.02%
Anglo American PLC 0.01%
Coterra Energy 0.01%
Enel 0.01%
Itochu Corp 0.01%
Kinder Morgan Inc 0.01%
National Grid PLC 0.01%
Wec Energy Group Inc 0.01%

Weapons

Wal-Mart Stores Inc 2.49%
Airbus 0.06%
Amphenol 0.04%
Brookfield Asset Management 0.04%
Teledyne Technologies 0.04%
Wal-Mart 0.03%

Alcohol

Masan 0.11%
United Spirits 0.05%
Tsingtao Brewery 0.04%
Diageo PLC 0.03%

Human Rights & Environmental Violations

Meta Platforms Inc 1.97%
Uber Technologies Inc 1.19%
Thermo Fisher Scientific Inc 0.63%
Thermo Fisher Scientific 0.20%
Bayer AG-Reg 0.09%
Wells Fargo 0.08%
Nutrien 0.05%
Archer-Daniels-Midland Co 0.04%
BHP 0.04%
Caterpillar Inc 0.04%
Meta Platforms 0.04%
Rio Tinto PLC 0.02%

Animal Testing

Ping An Insurance Group 0.18%
Bayer AG-Reg 0.08%
Pepsico Inc 0.08%
Unilever 0.07%
Coca-Cola Co/The 0.06%
Koninklijke Dsm 0.05%
Nutrien 0.05%
Symrise 0.05%
Archer-Daniels-Midland Co 0.04%
Estee Lauder 0.04%
Reliance Industries 0.04%
Rentokil Initial 0.04%
Sherwin-Williams 0.04%
Unilever PLC 0.04%
3M Co 0.03%
Albemarle 0.03%
Coca-Cola 0.03%
Daikin Industries 0.03%
Darling Ingredients 0.03%
Ecolab Inc 0.03%
Keurig Dr Pepper Inc 0.03%
Kimberly-Clark Corp 0.03%
Mowi Asa 0.03%
PPG Industries Inc 0.03%
3M 0.02%
Borregaard Asa 0.02%
LVMH Moet Hennessy Louis Vuitton 0.02%
Umicore 0.02%
Avantor 0.01%
Church & Dwight Co Inc 0.01%
General Mills Inc 0.01%
Kimberly Clark Corp 0.01%
Mosaic Co/The 0.01%
Prada 0.01%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Fri Sept. 30th 2022 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.

Please note that companies may breach more than one of these areas of concern.

The listing of companies of concern is based on definitions used in Mindful Money's methodology. These definitions may be different from the exclusions policy and definitions applied by the fund provider.

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
2022 3.94% -0.5%
2021 36.11% 27.93%
2020 -6.34% -0.19%
2019 9.78% 8.68%
2018 6.95% 13.4%
2017 10.40% 7.74%
2016 4.51% 3.94%
2015 15.30% 18.95%

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 Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • T Rowe Price Global Equity Fund
    Australia International Equities
    10.08%
  • ASB NZ Dollar Cash Account
    New Zealand Cash and Equivalents A1
    8.06%
  • Worldwide Healthcare Trust
    United Kingdom International Equities
    4.08%
  • BNP US Dollar Cash Account
    United States Cash and Equivalents A1
    4.07%
  • Infratil
    New Zealand Australasian Equities
    3.99%
  • Berkshire Hathaway
    United States International Equities
    3.93%
  • Microsoft
    United States International Equities
    3.09%
  • Spark
    New Zealand Australasian Equities
    2.95%
  • Alphabet
    United States International Equities
    2.57%
  • Merck & Co Inc
    United States International Equities
    2.51%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register Fri Sept. 30th 2022.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 5.0% 6.67%
New Zealand Fixed Interest 0.0% 1.64%
International Fixed Interest 0.0% 0.26%
Australasian Equities 15.0% 20.58%
International Equities 65.0% 62.46%
Listed Properties 15.0% 8.12%
Unlisted Properties 0.0% 0.27%
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 Fri Sept. 30th 2022.

Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.23%
  • Animal Testing:
    1.32%
  • Fossil Fuels:
    5.78%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    4.40%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    2.70%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to Fri Sept. 30th 2022 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 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. Similarly Mindful Money uses a broader scope for fossil fuels than the government’s rules for default KiwiSaver funds. The full definitions used in the Mindful Money analysis are here.

In their own words

"The objective of the Focused Growth Fund is to provide a higher growth investment return over the long-term through investment in a portfolio of actively managed cash, fixed interest, property and infrastructure assets, Australasian equities and international equities. The fund has a medium to high level of volatility. Generate is an award-winning KiwiSaver and wealth provider with a track record of strong, long-term performance through responsible investment. Generate was awarded both Investor Choice and Adviser Choice Awards at the Research IP Funds Manager of the year awards 2022 and also received a Consumer NZ People’s Choice Award for KiwiSaver."

Value $1.6B NZD
Period of data report Fri Sept. 30th 2022
Members 70,964
Fund started Tue April 16th 2013
Total annual fund fees 1.39%
Total performance based fees 0.0%
Manager's basic fee 1.0%
Other management and administration charges 0.39%
Total other charges 36.0
Total other charges currency NZD

Key Personnel

Sam Goldwater

Currently: Lead Portfolio Manager/Investment Committee Member/Executive Director (9 years, 6 months)
Previously: Led the investment management of a sizeable portfolio of family assets (7 years, 5 months)

Daniel Frost

Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (4 years, 8 months)
Previously: Senior Analyst, Macquarie Bank (5 years, 4 months)

Andrew Bolland

Currently: Portolio Manager - Property & Infrastructure, Australasian Equities (3 years, 2 months)
Previously: Senior Analyst/Associate Portfolio Manager, Salt Funds Management (6 years, 2 months)

Ayrton Oliver

Currently: Portfolio Manager - Fixed Income (1 years, 5 months)
Previously: Vice President, JP Morgan Chief Investment Office, International Rates and FX Portfolio Management (7 years, 0 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to Fri Sept. 30th 2022.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital invested. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Markets Conduct Act 2013 and any associated regulations.

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.