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

    • Nextera Energy Inc 0.34%
    • Williams Cos Inc/The 4.5% 15 Nov 23 15/11/2023 0.21%
    • Cheniere Energy Inc 0.10%
    • Contact Energy Ltd 3.55% 15 Aug 24 15/8/2024 0.09%
    • Dominion Energy Inc 0.09%
    • Valero Energy Corp 0.09%
    • Rwe AG 0.07%
    • Anglo American PLC 0.06%
    • Centrica PLC 0.05%
    • Clearway Energy Inc 0.05%
    • BHP Group Ltd 0.04%
    • Contact Energy Ltd 4.63% 15 Nov 22 15/11/2022 0.04%
    • Iberdrola SA 0.04%
    • Pbf Energy Inc 0.04%
    • Sempra Energy 0.04%
    • Delek US Holdings Inc 0.03%
    • Ameren Corp 0.02%
    • Contact Energy Ltd 4.33% 19 Nov 51 19/11/2051 0.02%
    • Itochu Corp 0.02%
    • Kinder Morgan Inc/De 0.02%
    • Marubeni Corp 0.02%
    • Mitsubishi Corp 0.02%
    • Ptt Global Chemical Pcl 0.02%
    • Tc Energy Corp 0.02%
    • Atco Ltd/Canada 0.01%
    • Kunlun Energy Co Ltd 0.01%
    • Pembina Pipeline Corp 0.01%
    • Williams Cos Inc/The 0.01%
    • Amphenol Corp 0.25%
    • Walmart Inc 0.15%
    • Dick'S Sporting Goods Inc 0.07%
    • Alimentation Couche-Tard Inc 0.11%
    • Vici Properties Inc 0.15%
    • Skycity Entertainment Group Ltd 3.02% 21 May 27 21/5/2027 0.13%
    • Aristocrat Leisure Ltd 0.08%
    • Constellation Brands Inc 4.35% 09 May 27 9/5/2027 0.21%
    • Diageo Capital Bv 1.5% 08 Jun 29 8/6/2029 0.05%
    • Diageo PLC 0.05%
    • Pernod Ricard SA 0.04%
    • Constellation Brands Inc 0.03%
    • Kirin Holdings Co Ltd 0.03%
    • Carlsberg A/S 0.02%
    • Treasury Wine Estates Ltd 0.02%
    • Asahi Group Holdings Ltd 0.01%
    • Metcash Ltd 0.01%
    • Thermo Fisher Scientific Inc 0.63%
    • Nestle SA 0.39%
    • Johnson & Johnson 0.35%
    • Meta Platforms Inc 0.28%
    • Johnson & Johnson 0.65% 20 May 24 20/5/2024 0.27%
    • Meta Platforms Inc 3.5% 15 Aug 27 15/8/2027 0.22%
    • Nestle Holdings Inc 4.125% 01 Oct 27 1/10/2027 0.21%
    • Wells Fargo & Co 3.75% 24 Jan 24 24/1/2024 0.19%
    • Nestle Holdings Inc 1% 15 Sep 27 15/9/2027 0.13%
    • Uber Technologies Inc 0.11%
    • Li Ning Co Ltd 0.09%
    • Wells Fargo & Co 0.09%
    • Mattel Inc 5.875% 15 Dec 27 15/12/2027 0.08%
    • Johnson & Johnson 0.55% 01 Sep 25 1/9/2025 0.06%
    • BHP Group Ltd 0.04%
    • Chemours Co/The 0.04%
    • Chemours Co/The 5.375% 15 May 27 15/5/2027 0.03%
    • Rio Tinto PLC 0.03%
    • Nutrien Ltd 0.02%
    • Evergreen Marine Corp Taiwan Ltd 0.01%
    • Johnson & Johnson 2.9% 15 Jan 28 15/1/2028 0.01%
    • Motorola Solutions Inc 0.01%
    • Rio Tinto Ltd 0.01%
    • LVMH Moet Hennessy Louis Vuitton Se 0.92%
    • Procter & Gamble Co/The 0.59%
    • Nestle SA 0.39%
    • L'Oreal SA 0.31%
    • Unilever Capital Corp 2.9% 05 May 27 5/5/2027 0.29%
    • Pepsico Inc 0.28%
    • Constellation Brands Inc 4.35% 09 May 27 9/5/2027 0.21%
    • Nestle Holdings Inc 4.125% 01 Oct 27 1/10/2027 0.21%
    • Pilgrim'S Pride Corp 5.875% 30 Sep 27 30/9/2027 0.21%
    • Hermes International 0.20%
    • Koninklijke Ahold Delhaize Nv 0.20%
    • Air Liquide Finance SA 2.5% 27 Sep 26 27/9/2026 0.19%
    • Estee Lauder Cos Inc/The 0.18%
    • Mondelez International Inc 0.16%
    • Nestle Holdings Inc 1% 15 Sep 27 15/9/2027 0.13%
    • Procter & Gamble Co/The 2.8% 25 Mar 27 25/3/2027 0.12%
    • Procter & Gamble Co/The 1.125% 02 Nov 23 2/11/2023 0.11%
    • Coca-Cola Co/The 0.10%
    • General Mills Inc 0.08%
    • Ashland Global Holdings Inc 0.07%
    • Cie Financiere Richemont SA 0.07%
    • Darling Ingredients Inc 5.25% 15 Apr 27 15/4/2027 0.06%
    • Mowi Asa 0.05%
    • Chemours Co/The 0.04%
    • Cj Cheiljedang Corp 0.04%
    • Kraft Heinz Foods Co 3.875% 15 May 27 15/5/2027 0.04%
    • Air Liquide SA 0.03%
    • Chemours Co/The 5.375% 15 May 27 15/5/2027 0.03%
    • Chr Hansen Holding A/S 0.03%
    • Colgate-Palmolive Co 0.03%
    • Constellation Brands Inc 0.03%
    • Kering SA 0.03%
    • Kimberly-Clark Corp 0.03%
    • PPG Industries Inc 0.03%
    • Petronas Chemicals Group Bhd 0.03%
    • Akzo Nobel Nv 0.02%
    • Daikin Industries Ltd 0.02%
    • Eastman Chemical Co 0.02%
    • Koninklijke Dsm Nv 0.02%
    • Mitsubishi Corp 0.02%
    • Nutrien Ltd 0.02%
    • Ptt Global Chemical Pcl 0.02%
    • Sgs SA 0.02%
    • Unilever PLC 0.02%
    • Asahi Group Holdings Ltd 0.01%
    • Danone SA 0.01%
    • Denso Corp 0.01%
    • Dupont De Nemours Inc 0.01%
    • Kao Corp 0.01%
    • Mosaic Co/The 0.01%
    • Nippon Paint Holdings Co Ltd 0.01%
    • Pilgrim'S Pride Corp 0.01%
    • Ping An Insurance Group Co Of China Ltd 0.01%
    • Tesco PLC 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

The Balanced Fund is invested up to 70% in shares and other growth assets, with the remainder in cash and fixed interest assets. Its objective is to exceed over the relevant timeframe the returns you would receive from investing 45% of your funds in New Zealand fixed interest and cash assets and 55% in global shares, through active asset allocation and active selection of shares, fixed interest and cash assets.

Value $130M NZD
Period of data report 31st Dec. 2022
Fund started 31st July 2018
Total annual fund fees 0.84%
Total performance based fees 0.0%
Manager's basic fee 0.79%
Other management and administration charges 0.05%
Total other charges 0.0
Total other charges currency NZD

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 0.50%
Animal Cruelty 5.89%
Fossil Fuels 1.66%
Gambling 0.37%
GMOs 0.00%
Human Rights & Environmental Violations 3.33%
Palm Oil 0.00%
Tobacco 0.11%
Weapons 0.48%

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 0.34% 3.11%
2021 17.46% 22.29%
2020 -1.59% -1.07%

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-
    3.62%
  • Microsoft Corp
    United States International Equities
    2.66%
  • Apple Inc
    United States International Equities
    2.25%
  • New Zealand Local Government Funding Agency Bond 3.5% 14/4/2033
    New Zealand NZ Fixed Interest AAA
    1.34%
  • New Zealand Local Government Funding Agency Bond 4.5% 15/4/2027
    New Zealand NZ Fixed Interest AAA
    1.24%
  • Alphabet Inc
    United States International Equities
    1.16%
  • New Zealand Local Government Funding Agency Bond 1.5% 20/4/2029
    New Zealand NZ Fixed Interest AAA
    1.14%
  • Kainga Ora 3.42% 18/10/2028
    New Zealand NZ Fixed Interest AAA
    1.08%
  • Transpower New Zealand Ltd 1.735% 4/9/2025
    New Zealand NZ Fixed Interest AA
    1.03%
  • Kommunalbanken As 1.25% 2/7/2030
    Norway Int Fixed Interest AAA
    1.02%
Type Target Actual
Cash and Cash Equivalents 10.0% 5.09%
New Zealand Fixed Interest 35.0% 13.16%
International Fixed Interest 0.0% 25.17%
Australasian Equities 0.0% 0.83%
International Equities 55.0% 52.21%
Listed Properties 0.0% 1.83%
Unlisted Properties 0.0% 0.0%
Other 0.0% 1.71%
Commodities 0.0% 0.0%

Investment Mix

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

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