Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all managed defensive funds is 1.99%.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Wells Fargo is a multinational financial services company which serves millions of customers in 35 countries. They have been involved in significant business ethics scandals for false inflation, cross selling and misleading customers over a period of 2002 to 2016.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Part of the conglomerate Adani Group, the company entered into a partnership with the Myanmar military to develop a new port. The Myanmar military has been linked to significant human rights abuses of Myanmar citizens. Although Adani Ports claims to have sold the port operation in May 2023, the Norwegian Pension Fund has excluded this company due to the lack of clarity about the transaction and information about the acquirer.
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.
The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Part of the conglomerate Adani Group, the company entered into a partnership with the Myanmar military to develop a new port. The Myanmar military has been linked to significant human rights abuses of Myanmar citizens. Although Adani Ports claims to have sold the port operation in May 2023, the Norwegian Pension Fund has excluded this company due to the lack of clarity about the transaction and information about the acquirer.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Enel is one of the world's largests producers of renewable energy in the world and also holds a 70.1% stake in the energy company, Endesa. It generates around 7% of revenue from fossil fuels. However, the company generate 68% from renewables and have announced plans to be 100% renewable by 2040. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
The fund aims to provide stable returns over the long term by investing in international fixed interest assets
| Value | $102M NZD |
| Period of data report | 31st March 2025 |
| Fund started | 1st Nov. 1990 |
| Total annual fund fees | 1.24% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.07% |
| Other management and administration charges | 0.17% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Ashley Gardyne |
Currently: Chief Investment Officer (3 years, 9 months)
|
|
Mark Brighouse |
Currently: Chief Investment Strategist (7 years, 8 months)
|
|
Sachin Gupta |
Currently: Lead portfolio manager, Pacific Investment Management Company LLC (9 years, 10 months)
|
|
Ed Meyi |
Currently: Lead Fixed Income Portfolio manager, Wellington International Management Company Pte Ltd (3 years, 5 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.
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 |
|---|---|---|
| 2025 | 3.87% | 2.34% |
| 2024 | 3.43% | 2.48% |
| 2023 | -0.79% | -4.5% |
| 2022 | -2.46% | -3.28% |
| 2021 | 2.15% | 2.73% |
| 2020 | 1.75% | 1.78% |
| 2019 | 2.76% | 2.33% |
| 2018 | 1.94% | 1.85% |
| 2017 | 1.52% | 2.07% |
| 2016 | 2.91% | 1.75% |
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 March 2025.
Fnma Pass Thru 30Yr #Sd8454
United States Int Fixed Interest AAA
ANZ 10 A/C - Current Accounts
New Zealand Cash and Equivalents AA-
France Govt Bond
France Int Fixed Interest AA
Japanese Govt Bond (10Y) #375
Japan Int Fixed Interest A
US Treasury Nb 4.1250% 02-28-27
United States Int Fixed Interest AAA
Gnma Ii Multpl Sgl 30Yr #Ma9961M
United States Int Fixed Interest AAA
Irs Sek 5 Fixed 2.4400% 03-19-30
Sweden Int Fixed Interest
Irs EUR Float 0.0000% 03-19-30
Belgium Int Fixed Interest
Spanish Govt Bond (Bonos Y Oblig)
Spain Int Fixed Interest A
Japan 30Yr (Jx) 2.3000% 03-20-40
Japan Int Fixed Interest A+
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 0.97% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 100.0% | 99.03% |
| 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% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.
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 2025 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.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Wells Fargo is a multinational financial services company which serves millions of customers in 35 countries. They have been involved in significant business ethics scandals for false inflation, cross selling and misleading customers over a period of 2002 to 2016.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Part of the conglomerate Adani Group, the company entered into a partnership with the Myanmar military to develop a new port. The Myanmar military has been linked to significant human rights abuses of Myanmar citizens. Although Adani Ports claims to have sold the port operation in May 2023, the Norwegian Pension Fund has excluded this company due to the lack of clarity about the transaction and information about the acquirer.
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.
The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Part of the conglomerate Adani Group, the company entered into a partnership with the Myanmar military to develop a new port. The Myanmar military has been linked to significant human rights abuses of Myanmar citizens. Although Adani Ports claims to have sold the port operation in May 2023, the Norwegian Pension Fund has excluded this company due to the lack of clarity about the transaction and information about the acquirer.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Enel is one of the world's largests producers of renewable energy in the world and also holds a 70.1% stake in the energy company, Endesa. It generates around 7% of revenue from fossil fuels. However, the company generate 68% from renewables and have announced plans to be 100% renewable by 2040. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
The fund aims to provide stable returns over the long term by investing in international fixed interest assets
| Value | $102M NZD |
| Period of data report | 31st March 2025 |
| Fund started | 1st Nov. 1990 |
| Total annual fund fees | 1.24% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.07% |
| Other management and administration charges | 0.17% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Ashley Gardyne |
Currently: Chief Investment Officer (3 years, 9 months)
|
|
Mark Brighouse |
Currently: Chief Investment Strategist (7 years, 8 months)
|
|
Sachin Gupta |
Currently: Lead portfolio manager, Pacific Investment Management Company LLC (9 years, 10 months)
|
|
Ed Meyi |
Currently: Lead Fixed Income Portfolio manager, Wellington International Management Company Pte Ltd (3 years, 5 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.
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 |
|---|---|---|
| 2025 | 3.87% | 2.34% |
| 2024 | 3.43% | 2.48% |
| 2023 | -0.79% | -4.5% |
| 2022 | -2.46% | -3.28% |
| 2021 | 2.15% | 2.73% |
| 2020 | 1.75% | 1.78% |
| 2019 | 2.76% | 2.33% |
| 2018 | 1.94% | 1.85% |
| 2017 | 1.52% | 2.07% |
| 2016 | 2.91% | 1.75% |
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 March 2025.
Fnma Pass Thru 30Yr #Sd8454
United States Int Fixed Interest AAA
ANZ 10 A/C - Current Accounts
New Zealand Cash and Equivalents AA-
France Govt Bond
France Int Fixed Interest AA
Japanese Govt Bond (10Y) #375
Japan Int Fixed Interest A
US Treasury Nb 4.1250% 02-28-27
United States Int Fixed Interest AAA
Gnma Ii Multpl Sgl 30Yr #Ma9961M
United States Int Fixed Interest AAA
Irs Sek 5 Fixed 2.4400% 03-19-30
Sweden Int Fixed Interest
Irs EUR Float 0.0000% 03-19-30
Belgium Int Fixed Interest
Spanish Govt Bond (Bonos Y Oblig)
Spain Int Fixed Interest A
Japan 30Yr (Jx) 2.3000% 03-20-40
Japan Int Fixed Interest A+
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 0.97% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 100.0% | 99.03% |
| 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% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.
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 2025 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.
