Kiwi Wealth Balanced Fund

Mindful Fund

Type: Balanced fund

Past Returns: *-1.07%

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

Annual Fees: 0.86%

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

Aes Corp/Va 0.08%
Aker BP Asa 15/6/2024 0.13%
Ameren Corp 0.02%
American Electric Power Co Inc 0.03%
Anglo American PLC 0.09%
BHP Billiton 0.02%
BHP Billiton PLC 0.02%
BP Capital Markets PLC 10/2/2024 0.26%
BP PLC 0.04%
Canadian Natural Resources Ltd 0.09%
Cenovus Energy Inc 0.02%
Chevron Corp 0.12%
Chevron Corp 16/5/2021 0.15%
China Shenhua Energy Co-H 0.01%
Clp Holdings Ltd 0.01%
Cms Energy Corp 0.02%
Cnooc Ltd 0.01%
Conocophillips 0.01%
Diamondback Energy Inc 0.01%
Dominion Energy Inc 0.25%
Enagas SA 0.07%
Enbridge Inc 0.02%
Eog Resources Inc 0.02%
Evergy Inc 0.09%
Exxon Mobil Corp 0.03%
Gazprom PJSC 0.01%
Inpex Corp 0.06%
Jxtg Holdings Inc 0.01%
Kinder Morgan Inc/De 0.11%
Lukoil PJSC 0.01%
Marathon Petroleum Corp 0.02%
Nextera Energy Inc 0.60%
Oneok Inc 0.01%
Oneok Partners Lp 15/3/2025 0.03%
Oneok Partners Lp 15/9/2023 0.03%
Phillips 66 0.01%
Pioneer Natural Resources Co 0.02%
Ptt Pcl/Foreign 0.01%
Royal Dutch Shell 0.03%
Royal Dutch Shell B Shares 0.02%
Rwe AG 0.01%
Snam Spa 0.09%
Suncor Energy Inc 0.01%
Tatneft PJSC 0.01%
Total Capital International 4.25% 26/11/2021 26/11/2021 0.01%
Total Capital International SA 19/6/2021 0.06%
Total Capital International SA 2/9/2020 0.15%
Total SA 0.03%
Whitecap Resources Inc 0.02%
Xcel Energy Inc 0.03%

Weapons

Airbus Se 0.09%
Boeing Co/The 0.01%
Booz Allen Hamilton Holding Corp 0.08%
L3Harris Technologies Inc 0.01%
Leonardo Spa 0.04%
Raytheon Co 0.04%
Safran SA 0.08%
Thales SA 0.02%
United Technologies Corp 0.05%

Gambling

Evolution Gaming Group Ab 0.04%
Galaxy Entertainment Group Ltd 0.01%
William Hill PLC 7/9/2023 0.12%

Alcohol

Anheuser-Busch Inbev Nv 0.01%
Asahi Group Holdings Ltd 0.01%
Carlsberg A/S 0.01%
Constellation Brands Inc 1/5/2021 0.12%
Constellation Brands Inc-A 0.04%
Davide Campari-Milano Spa 0.01%
Diageo PLC 0.16%
Heineken Nv 0.02%
Kirin Holdings Co Ltd 0.01%
LVMH Moet Hennessy Louis Vuitton Se 0.41%
Pernod Ricard SA 0.02%

Palm Oil

Posco 0.01%

GMOs

Basf Se 0.01%
Dupont De Nemours Inc 0.01%
Novartis 0.34%
Novozymes A/S-B Shares 0.01%
Nutrien Ltd 0.01%

Human Rights & Environmental Violations

BHP Billiton 0.02%
BHP Billiton PLC 0.02%
Chevron Corp 0.12%
Duke Energy Corp 0.02%
Grupo Mexico Sab De Cv 0.01%
Johnson & Johnson 0.15%
Johnson & Johnson 15/1/2028 0.02%
Johnson & Johnson 20/5/2024 0.30%
Nestle S.A. 0.97%
Nutrien Ltd 0.01%
Posco 0.01%
Rio Tinto Ltd 0.08%
Royal Dutch Shell 0.03%
Royal Dutch Shell B Shares 0.02%
Sempra Energy 0.01%

Animal Testing

Air Liquide SA 0.020%
Air Products & Chemicals Inc 0.020%
Akzo Nobel Nv 0.020%
Arkema SA 0.010%
Basf Se 0.010%
Burberry Group PLC 0.010%
Chevron Corp 0.120%
Coca Cola 0.400%
Colgate-Palmolive Co 0.430%
Danone SA 15/6/2022 0.020%
Ecolab Inc 0.120%
Ecolab Inc 8/12/2021 0.150%
Estee Lauder Cos Inc/The 0.070%
General Mills Inc 0.020%
Glaxosmithkline PLC 0.120%
Henkel AG & Co Kgaa Vorzug 0.060%
Johnson & Johnson 0.150%
Johnson & Johnson 15/1/2028 0.020%
Johnson & Johnson 20/5/2024 0.300%
Kimberly-Clark Corp 0.040%
L'Oreal SA 0.300%
LVMH Moet Hennessy Louis Vuitton Se 0.410%
Nestle S.A. 0.970%
Novozymes A/S-B Shares 0.010%
Pepsico Inc 0.630%
Procter & Gamble Co/The 0.720%
Procter & Gamble Co/The 2/11/2023 0.120%
Reckitt Benckiser Group PLC 0.200%
Royal Dutch Shell 0.030%
Royal Dutch Shell B Shares 0.020%
Shiseido Co Ltd 0.010%
Tesco Corporate Treasury Services PLC 1/7/2024 0.170%
Tesco PLC 0.020%
Unilever PLC 0.050%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Tue March 31st 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.

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	-2.86%	-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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

Westpac NZD Account
New Zealand Cash and Equivalents AA-

4.79%
Landwirtschaftliche Rentenbank 23/4/2024
Germany Int Fixed Interest AAA

1.97%
New Zealand Local Government Funding Agency Bond 14/4/2033
New Zealand NZ Fixed Interest AA+

1.77%
Apple Inc.
United States International Equities

1.7%
Microsoft Corp
United States International Equities

1.61%
Amazon.Com Inc
United States International Equities

1.38%
Kommunalbanken As 20/8/2025
Norway Int Fixed Interest AAA

1.37%
Gmo Systematic Global Macro Trust
Australia Other

1.35%
New Zealand Local Government Funding Agency Bond 15/4/2027
New Zealand NZ Fixed Interest AA+

1.31%
Housing New Zealand Ltd 18/10/2028
New Zealand NZ Fixed Interest AA+

1.3%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Tue June 30th 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	22.5%	7.12%
New Zealand Fixed Interest	22.5%	15.14%
International Fixed Interest	0.0%	18.88%
Australasian Equities	0.0%	0.39%
International Equities	55.0%	53.4%
Listed Properties	0.0%	1.59%
Unlisted Properties	0.0%	0.0%
Other	0.0%	3.48%
Commodities	0.0%	0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 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:

0.82%
Animal Testing:

5.77%
Fossil Fuels:

3.02%
Gambling:

0.17%
GMOs:

0.38%
Human Rights & Environmental Violations:

1.79%
Palm Oil:

0.01%
Tobacco:

0.00%
Weapons:

0.42%

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 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 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 the returns you would receive from investing 45% of your funds in New Zealand fixed interest assets and cash and 55% in global shares through active allocation and active selection of shares and other growth assets fixed interest and cash assets. Kiwi Wealth is 100% Kiwi-owned and operated and our team is based right here in New Zealand. We're ultimately owned by the NZ Super Fund, ACC and NZ Post, so our profits stay in New Zealand too. We invest our members’ money in companies that meet our strict environmental, social and governance criteria. For example, we don’t invest in nuclear weapons, tobacco and whaling. Your money not only gets invested in New Zealand but across the globe too, helping to diversify your investment."

Value	$18M NZD
Period of data report	Tue June 30th 2020
Members	Not provided
Fund started	Tue July 31st 2018
Total annual fund fees	0.86%
Total performance based fees	0.0%
Manager's basic fee	0.78%
Administration charges	0.08%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Simon O'Grady	Currently: Chief Investment Officer - Kiwi Wealth Investments Limited Partnership (7 years, 5 months) Previously: Head of Investment Strategy - Suncorp Investment Management (5 years, 0 months)
Diana Gordon	Currently: Head of Fixed Interest - Kiwi Wealth Investments Limited Partnership (7 years, 7 months) Previously: Senior High Yield Portfolio Manager Goldman Sachs Asset Management New York (10 years, 10 months)
Nathan Field	Currently: Portfolio Manager Equities - Kiwi Wealth Investments Limited Partnership (9 years, 10 months) Previously: Senior Equity Analyst - ABN Amro Sydney (4 years, 6 months)
Steffan Berridge	Currently: Senior Quantitative Strategist - Kiwi Wealth Investments Limited Partnership (6 years, 6 months) Previously: Portfolio Manager - Man Group PLC (9 years, 0 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.