Funds

Kiwi Wealth Conservative Fund

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Issues of concern

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.

Key:

  • Adult Entertainment/Pornography
  • Alcohol
  • Animal Cruelty
  • Fossil Fuels
  • Gambling
  • GMOs
  • Human Rights & Environmental Violations
  • Palm Oil
  • Tobacco
  • Weapons

Companies of concern

  • Fossil Fuel

    • Williams Cos Inc/The 4.5% 15 Nov 23 15/11/2023 0.42%
    • Contact Energy Ltd 3.55% 15 Aug 24 15/8/2024 0.18%
    • Nextera Energy Inc 0.09%
    • Contact Energy Ltd 4.63% 15 Nov 22 15/11/2022 0.07%
    • Contact Energy Ltd 4.33% 19 Nov 51 19/11/2051 0.05%
    • Cheniere Energy Inc 0.03%
    • Anglo American PLC 0.02%
    • Dominion Energy Inc 0.02%
    • Rwe AG 0.02%
    • Valero Energy Corp 0.02%
    • BHP Group Ltd 0.01%
    • Centrica PLC 0.01%
    • Clearway Energy Inc 0.01%
    • Pbf Energy Inc 0.01%
    • Sempra Energy 0.01%

  • Weapons

    • Amphenol Corp 0.07%
    • Walmart Inc 0.04%
    • Dick'S Sporting Goods Inc 0.02%

  • Tobacco

    • Alimentation Couche-Tard Inc 0.03%

  • Gambling

    • Skycity Entertainment Group Ltd 3.02% 21 May 27 21/5/2027 0.26%
    • Vici Properties Inc 0.04%
    • Aristocrat Leisure Ltd 0.02%

  • Alcohol

    • Constellation Brands Inc 4.35% 09 May 27 9/5/2027 0.43%
    • Diageo Capital Bv 1.5% 08 Jun 29 8/6/2029 0.11%
    • Diageo PLC 0.01%
    • Pernod Ricard SA 0.01%

  • Human Rights & Environmental Violations

    • Johnson & Johnson 0.65% 20 May 24 20/5/2024 0.54%
    • Meta Platforms Inc 3.5% 15 Aug 27 15/8/2027 0.44%
    • Nestle Holdings Inc 4.125% 01 Oct 27 1/10/2027 0.43%
    • Wells Fargo & Co 3.75% 24 Jan 24 24/1/2024 0.37%
    • Nestle Holdings Inc 1% 15 Sep 27 15/9/2027 0.26%
    • Thermo Fisher Scientific Inc 0.17%
    • Mattel Inc 5.875% 15 Dec 27 15/12/2027 0.15%
    • Johnson & Johnson 0.55% 01 Sep 25 1/9/2025 0.11%
    • Nestle SA 0.11%
    • Johnson & Johnson 0.10%
    • Meta Platforms Inc 0.08%
    • Chemours Co/The 5.375% 15 May 27 15/5/2027 0.06%
    • Johnson & Johnson 2.9% 15 Jan 28 15/1/2028 0.03%
    • Uber Technologies Inc 0.03%
    • Li Ning Co Ltd 0.02%
    • Wells Fargo & Co 0.02%
    • BHP Group Ltd 0.01%
    • Chemours Co/The 0.01%

  • Animal Cruelty

    • Unilever Capital Corp 2.9% 05 May 27 5/5/2027 0.58%
    • Constellation Brands Inc 4.35% 09 May 27 9/5/2027 0.43%
    • Nestle Holdings Inc 4.125% 01 Oct 27 1/10/2027 0.43%
    • Pilgrim'S Pride Corp 5.875% 30 Sep 27 30/9/2027 0.43%
    • Air Liquide Finance SA 2.5% 27 Sep 26 27/9/2026 0.37%
    • Nestle Holdings Inc 1% 15 Sep 27 15/9/2027 0.26%
    • LVMH Moet Hennessy Louis Vuitton Se 0.25%
    • Procter & Gamble Co/The 1.125% 02 Nov 23 2/11/2023 0.23%
    • Procter & Gamble Co/The 2.8% 25 Mar 27 25/3/2027 0.23%
    • Procter & Gamble Co/The 0.16%
    • Darling Ingredients Inc 5.25% 15 Apr 27 15/4/2027 0.12%
    • Nestle SA 0.11%
    • Kraft Heinz Foods Co 3.875% 15 May 27 15/5/2027 0.09%
    • L'Oreal SA 0.08%
    • Pepsico Inc 0.08%
    • Chemours Co/The 5.375% 15 May 27 15/5/2027 0.06%
    • Estee Lauder Cos Inc/The 0.05%
    • Hermes International 0.05%
    • Koninklijke Ahold Delhaize Nv 0.05%
    • Mondelez International Inc 0.04%
    • Coca-Cola Co/The 0.03%
    • Ashland Global Holdings Inc 0.02%
    • Cie Financiere Richemont SA 0.02%
    • General Mills Inc 0.02%
    • Chemours Co/The 0.01%
    • Cj Cheiljedang Corp 0.01%
    • Mowi Asa 0.01%

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

About this fund

In their own words

The Conservative Fund is invested up to 20% in shares and other growth assets, with the remainder invested in cash and fixed interest assets. Its objective is to exceed over the relevant timeframe the returns you would receive from investing 85% of your funds in New Zealand fixed interest and cash assets and 15% in global shares, through active asset allocation and active selection of shares, fixed interest and cash assets.

Value $32M NZD
Period of data report 31st Dec. 2022
Fund started 31st July 2018
Total annual fund fees 0.71%
Total performance based fees 0.0%
Manager's basic fee 0.7%
Other management and administration charges 0.01%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Steffan Berridge

Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (1 years, 1 months)
Previously: Head of Quantitative Investment - Kiwi Wealth Investments Limited Partnership (8 years, 2 months)

Diana Gordon

Currently: Deputy Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (0 years, 6 months)
Previously: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (9 years, 10 months)

Nathan Field

Currently: Head of Thematic Equities - Kiwi Wealth Investments Limited Partnership (12 years, 7 months)
Previously: Senior Equity Analyst - ABN Amro, Sydney (4 years, 6 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.

Investment Exclusions

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 0.60%
Animal Cruelty 4.38%
Fossil Fuels 1.07%
Gambling 0.33%
GMOs 0.00%
Human Rights & Environmental Violations 2.96%
Palm Oil 0.00%
Tobacco 0.03%
Weapons 0.13%

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

Past Returns

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 -0.26% -2.14%
2021 8.99% 6.42%
2020 0.27% 2.54%

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 fund has filed with Disclose register to 31st Dec. 2022.

Top 10 Investments

  • Westpac NZD Account
    New Zealand Cash and Equivalents AA-
    5.65%
  • New Zealand Local Government Funding Agency Bond 3.5% 14/4/2033
    New Zealand NZ Fixed Interest AAA
    2.67%
  • New Zealand Local Government Funding Agency Bond 4.5% 15/4/2027
    New Zealand NZ Fixed Interest AAA
    2.47%
  • New Zealand Local Government Funding Agency Bond 1.5% 20/4/2029
    New Zealand NZ Fixed Interest AAA
    2.28%
  • Kainga Ora 3.42% 18/10/2028
    New Zealand NZ Fixed Interest AAA
    2.14%
  • Transpower New Zealand Ltd 1.735% 4/9/2025
    New Zealand NZ Fixed Interest AA
    2.06%
  • Kommunalbanken As 1.25% 2/7/2030
    Norway Int Fixed Interest AAA
    2.03%
  • Asian Development Bank 2.125% 19/5/2031
    Philippines Int Fixed Interest AAA
    1.88%
  • Asian Development Bank 1.125% 10/2/2028
    Philippines Int Fixed Interest AAA
    1.77%
  • International Bank For Reconstruction & Development 1.625% 10/5/2028
    United States Int Fixed Interest AAA
    1.74%
Type Target Actual
Cash and Cash Equivalents 20.0% 8.21%
New Zealand Fixed Interest 65.0% 26.22%
International Fixed Interest 0.0% 50.15%
Australasian Equities 0.0% 0.23%
International Equities 15.0% 14.22%
Listed Properties 0.0% 0.5%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.47%
Commodities 0.0% 0.0%

Investment Mix

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

Target

Actual

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.