Funds
Westpac International Diversified Bond Fund
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:
- Human Rights Violations
- Environmental Harm
- Animal Cruelty
- Weapons
- Fossil Fuels
- Social Harm
Companies of concern
Human Rights Violations
-
Credit Suisse Group AG 0.48%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
-
Thermo Fisher Scientific 0.27%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
THERMO FISHER SCIENTIFIC Human Rights Abuses
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
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Credit Suisse Group AG-Reg 0.24%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
-
Meta Platforms Inc-Class A 0.10%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
META PLATFORMS INC-CLASS A Public Safety
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as for allowing its platform in non-English speaking countries to be used to incite ethnic violence.
-
Meta Platforms Inc 0.09%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
META PLATFORMS INC Public Safety
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as for allowing its platform in non-English speaking countries to be used to incite ethnic violence.
-
Israel Discount Bank 0.03%
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
ISRAEL DISCOUNT BANK War & Conflict
Israel Discount Bank is one of Israel's largest banks. The bank has financed the construction of housing projects in multiple Israeli settlements in the occupied Palestinian territory and has multiple branches in these settlements. Such settlements are deemed illegal under international law. The United Nations Human Rights Council Report 2023 has identified Israel Discount Bank as a company providing services supporting the maintenance and existence of these settlements, which have been linked to severe human rights violations.
-
Nestle Holdings Inc 0.03%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
NESTLE HOLDINGS INC Human Rights Abuses
Nestle manufactures and sells food and beverages. The company has been criticised for exploiting local water resources for its bottled water production, which has forced underprivileged communities to pay a premium for their groundwater while alternatives have been exhausted. There have also been several allegations of labour conflicts and human rights violations in Nestle’s palm oil, coffee, fruits and seafood supply chains.
-
Credit Suisse Group AG 0.48%
Environmental Harm
-
Jbs Usa/Food/Finance 0.15%
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
JBS USA/FOOD/FINANCE Deforestation Environmental Damage
JBS is one of the world’s largest food companies and exporters of beef from Brazil. JBS has been linked to allegations of environmental harm in its supply chain, as multiple sources have traced JBS meat products to illegally deforested areas in the Amazon rainforest. JBS has also been linked to multiple cases of animal cruelty. JBS suppliers have allegedly carried out intensive-style poultry farming, which includes inhumane conditions and violent treatment of animals. Through its subsidiary, Huon Aquaculture, JBS has been linked to the inhumane death of seals by using explosives at salmon farms in Tasmania.
-
Nutrien Ltd 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Basf Se 0.07%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Posco 0.01%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
-
Jbs Usa/Food/Finance 0.15%
Animal Cruelty
-
Nutrien Ltd 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Intl Flavors & Fragrances 0.08%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Basf Se 0.07%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Nutrien Ltd 0.13%
Fossil Fuels
-
Enel Finance Intl Nv 0.23%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
National Grid PLC 0.23%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Sempra Energy 0.16%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Xcel Energy Inc 0.13%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Consolidated Edison Inc 0.11%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Nextera Energy Inc 0.11%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Enbw Intl Finance Bv 0.10%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
ENBW INTL FINANCE BV Fossil Fuel Power Generation
EnBW Energie is a German energy company that is transitioning to renewables with a goal of becoming carbon neutral by 2035. Evidence shows that energy generated from thermal coal accounts for 15% of the company’s revenues. However, the company is significantly investing in wind, solar, and hydro projects, and renewable energy accounts for 40.1% of the company’s energy generation portfolio. The company also plans to phase out its coal-fired plants by 2028, which is 10 years ahead of the legal deadline required in Germany. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
South32 Treasury Ltd 0.05%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
National Grid Gas PLC 0.02%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Public Service Enterpris 0.02%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
PUBLIC SERVICE ENTERPRIS Fossil Fuel Power Generation
Public Service Enterprise Group is based in the USA and supplies electricity and natural gas to customers, primarily in New Jersey. Evidence shows that electricity generated from oil and gas accounts for 15% of the company’s total revenue. However, the company is in the process of divesting from its fossil fuel assets and in 2021 it shut down its last coal-fired plant. The company now plans to focus on nuclear power and natural gas and has set a target of net-zero emissions by 2030. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Galaxy Pipeline Assets 0.01%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Enel Finance Intl Nv 0.23%
1.5°C
This data is compiled by Mindful Money from the fund information and portfolios
that each fund has
filed with the Disclose register to 31st March 2023 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 International Diversified Bond Fund aims to provide capital growth over the short to medium term by investing primarily in a range of international fixed interest assets. The primary areas of investment are North America, United Kingdom, Europe and the Asia-Pacific region.
Value | $27M NZD |
Period of data report | 30th June 2023 |
Fund started | 1st Oct. 2001 |
Total annual fund fees | 0.52% |
Total performance based fees | 0.0% |
Manager's basic fee | 0.42% |
Other management and administration charges | 0.1% |
Total other charges | 0.0 |
Total other charges currency | NZD |
Key Personnel
Nigel Jackson |
Currently: Chief Executive Officer – BT Funds Management (NZ) Limited (0 years, 11 months) |
Philip Houghton-Brown |
Currently: Head of Investment Solutions (2 years, 9 months) |
Angelika Sansom |
Currently: Investment Analytics Manager (21 years, 10 months) |
Nirav Shah |
Currently: Portfolio Manager - Sector Funds (4 years, 8 months) |
Anna Boyle |
Currently: Portfolio Manager - Sector Funds (1 years, 1 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 2023.
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 |
---|---|---|
2023 | -0.79% | -1.58% |
2022 | -2.46% | -2.39% |
2021 | 2.15% | 3.73% |
2020 | 1.75% | 1.25% |
2019 | 2.76% | 2.4% |
2018 | 1.94% | 2.2% |
2017 | 1.52% | 1.65% |
2016 | 2.91% | 1.01% |
2015 | 5.21% | 6.08% |
2014 | 1.36% | 1.53% |
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 30th June 2023.
Top 10 Investments
-
US 5Yr Note
United States Int Fixed Interest AA+4.56% -
US 2Yr Note
United States Int Fixed Interest AA+3.15% -
Euro Schatz Future
Germany Int Fixed Interest AAA2.35% -
Government Of The United States Of America 3.875% 30-Nov-2027
United States Int Fixed Interest AA+1.54% -
Government Of The United States Of America 4.5% 30-Nov-2024
United States Int Fixed Interest AA+1.43% -
US 10Yr Note
United States Int Fixed Interest AA+1.34% -
Euro Bobl Future
Germany Int Fixed Interest AAA1.1% -
Government Of Japan 0.1% 20-Dec-2026
Japan Int Fixed Interest A+0.97% -
Government Of Mexico 7.5% 03-Jun-2027
Mexico Int Fixed Interest BBB+0.8% -
Government Of Japan 2.3% 20-Mar-2040
Japan Int Fixed Interest A+0.71%
Type | Target | Actual |
---|---|---|
Cash and Cash Equivalents | 0.0% | 1.05% |
New Zealand Fixed Interest | 0.0% | 0.0% |
International Fixed Interest | 100.0% | 98.95% |
Australasian Equities | 0.0% | 0.0% |
International Equities | 0.0% | 0.0% |
Listed Properties | 0.0% | 0.0% |
Unlisted Properties | 0.0% | 0.0% |
Other | 0.0% | 0.0% |
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 30th June 2023.