Funds
MAS Moderate 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:
- Adult Entertainment/Pornography
- Alcohol
- Animal Cruelty
- Fossil Fuels
- Gambling
- GMOs
- Human Rights & Environmental Violations
- Palm Oil
- Tobacco
- Weapons
Companies of concern
Fossil Fuel
- Energy Transfer Partners Lp 150325 4.05 Cb 0.07%
- Itochu Corp 0.02%
- Anglo American PLC 0.01%
- Citic Ltd 0.01%
- Eqt 0.01%
- Hapvida Participacoes E Investimen 0.01%
- Marubeni Corp 0.01%
- Nippon Steel Corp 0.01%
- Nippon Yusen 0.01%
- Sumitomo Chemical Ltd 0.01%
- Taiwan Cement Corp 0.01%
Weapons
- Amphenol Corp Class A 0.01%
- Booz Allen Hamilton Holding Corp C 0.01%
- Howmet Aerospace Inc 0.01%
- Mtu Aero Engines Holding AG 0.01%
- Walmart Inc 0.01%
Alcohol
- Brown Forman Corp Class B 0.02%
- Diageo PLC 0.02%
- Constellation Brands Inc Class A 0.01%
- Wuliangye Yibin Ltd A 0.01%
GMOs
- Corteva Inc 0.01%
Human Rights & Environmental Violations
- Thermo Fisher Scientific Inc 0.27%
- Credit Suisse Group AG 120833 6.537 Cb 0.15%
- Credit Suisse AG 080823 6.50 Cb 0.14%
- Caterpillar Inc 0.09%
- Credit Suisse Mortgage Tr Series 20 Fact Cls A 151037 Abs 0.09%
- Wells Fargo and Co 240328 3.526 Cb 0.09%
- Credit Suisse Group AG 020432 2.875 Cb 0.08%
- Energy Transfer Partners Lp 150325 4.05 Cb 0.07%
- Johnson & Johnson 0.07%
- Credit Suisse AG 070933 7.375 Cb 0.05%
- Credit Suisse AG London 050126 0.25 Cb 0.04%
- Meta Platforms Inc Class A 0.04%
- Motorola Solutions Inc 0.04%
- Nutrien Ltd 0.04%
- Activision Blizzard Inc 0.03%
- Archer Daniels Midland 0.03%
- Credit Suisse Group AG 120624 4.207 Cb 0.03%
- Credit Suisse Group AG 240627 1.00 Cb 0.03%
- Bayer US Finance Ii Llc 151225 4.25 Cb 0.02%
- Bayer US Finance Ii Llc 151228 4.375 Cb 0.02%
- Bank Leumi Le Israel 0.01%
- Bayer AG 0.01%
- Corteva Inc 0.01%
- Rio Tinto PLC 0.01%
Animal Cruelty
- Procter & Gamble 0.37%
- Coca-Cola 0.28%
- Pepsico Inc 0.28%
- Unilever PLC 0.12%
- Kimberly Clark Corp 0.07%
- Loreal SA 0.07%
- General Mills Inc 0.06%
- Lair Liquide Societe Anonyme Pour 0.05%
- Sherwin Williams 0.05%
- Swpc0Gvu2 Ccp Sell Cds EUR 200625 Tesco PLC 1% Ms 0.05%
- Compagnie Financiere Richemont SA 0.04%
- Ecolab Inc 0.04%
- Estee Lauder Inc Class 0.04%
- Nutrien Ltd 0.04%
- Archer Daniels Midland 0.03%
- Church and Dwight Inc 0.03%
- Clorox 0.03%
- Daikin Industries Ltd 0.03%
- Danone SA 0.03%
- Hormel Foods Corp 0.03%
- Kering SA 0.03%
- Keurig Dr Pepper Inc 0.03%
- PPG Industries Inc 0.03%
- Tesco Property Finance PLC 130440 5.744 Sf 0.03%
- Albemarle Corp 0.02%
- Bayer US Finance Ii Llc 151225 4.25 Cb 0.02%
- Bayer US Finance Ii Llc 151228 4.375 Cb 0.02%
- Essity Class B 0.02%
- Givaudan SA 0.02%
- International Flavors & Fragrances 0.02%
- Kao Corp 0.02%
- Kellogg 0.02%
- Koninkilijke Dsm Nv 0.02%
- Koninklijke Ahold Delhaize Nv 0.02%
- Mondelez International Inc Class A 0.02%
- Mosaic 0.02%
- Umicore SA 0.02%
- 3M 0.01%
- Ajinomoto Inc 0.01%
- Akzo Nobel Nv 0.01%
- Associated British Foods PLC 0.01%
- Bayer AG 0.01%
- Beiersdorf AG 0.01%
- Burberry Group PLC 0.01%
- Campbell Soup 0.01%
- Celanese Corp 0.01%
- Chr Hansen Holding 0.01%
- Constellation Brands Inc Class A 0.01%
- Corteva Inc 0.01%
- Croda International PLC 0.01%
- Fujifilm Holdings Corp 0.01%
- George Weston Ltd 0.01%
- Hanwha Solutions Corp 0.01%
- Henkel & Kgaa Pref AG 0.01%
- Henkel AG 0.01%
- Intertek Group PLC 0.01%
- Kerry Group PLC 0.01%
- Kikkoman Corp 0.01%
- Kraft Heinz 0.01%
- Mitsubishi Chemical Group Corp 0.01%
- Mowi 0.01%
- Nan Ya Plastics Corp 0.01%
- Nippon Paint Holdings Ltd 0.01%
- Novozymes B 0.01%
- Ping An Insurance (Group) Of China 0.01%
- Rentokil Initial PLC 0.01%
- Sgs SA 0.01%
- Shiseido Ltd 0.01%
- Sumitomo Chemical Ltd 0.01%
- Symrise AG 0.01%
- Tyson Foods Inc Class A 0.01%
- Unicharm Corp 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 Moderate Fund invests mainly in income assets with a moderate allocation to growth assets. The Fund aims to provide moderate returns over the short to medium term. It is suitable for investors who are prepared to accept some investment risk to potentially achieve a moderate return.
| Value | $160M NZD |
| Period of data report | 31st Dec. 2022 |
| Fund started | 1st April 1994 |
| Total annual fund fees | 1.07% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.88% |
| Other management and administration charges | 0.18% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Bruce Robertson |
Currently: Portfolio manager, JBWere (25 years, 9 months) |
|
Tom Phillips |
Currently: Portfolio manager, JBWere (18 years, 4 months) |
|
Earl White |
Currently: Executive Advisor, Bancorp Treasury (19 years, 11 months) |
|
Phil Borkin |
Currently: Senior Strategist, JBWere (4 years, 0 months) |
|
Hayden Griffiths |
Currently: Head of Asset allocation, JBWere (26 years, 8 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 | 0.06% | |
| Animal Cruelty | 2.48% | |
| Fossil Fuels | 0.19% | |
| Gambling | 0.00% | |
| GMOs | 0.01% | |
| Human Rights & Environmental Violations | 1.48% | |
| Palm Oil | 0.00% | |
| Tobacco | 0.00% | |
| Weapons | 0.05% |
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% | -0.04% |
| 2021 | 17.46% | 14.55% |
| 2020 | -1.59% | 0.61% |
| 2019 | 4.47% | 4.17% |
| 2018 | 4.41% | 4.31% |
| 2017 | 5.71% | 6.5% |
| 2016 | 3.06% | 1.21% |
| 2015 | 8.56% | 11.58% |
| 2014 | 6.13% | 5.8% |
| 2013 | 8.77% | 7.95% |
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
-
Hunter Global Fixed Interest Fund
New Zealand Int Fixed Interest34.65% -
Jbwere Premium Custody Call Account - NZD
New Zealand Cash and Equivalents8.21% -
Bank Of New Zealand 4.985% 07/06/2027
New Zealand NZ Fixed Interest AA-2.46% -
Nzdusd Maturing 27/01/2023 (Bzl NZ)
New Zealand International Equities1.64% -
Kiwibank 5.737% 19/10/2027
New Zealand NZ Fixed Interest1.57% -
Infratil Ltd
New Zealand Australasian Equities1.48% -
Westpac 3.696% 16/02/27
New Zealand NZ Fixed Interest AA-1.43% -
Vector Ltd 4.996% 14/03/2024
New Zealand NZ Fixed Interest BBB1.34% -
Fisher & Paykel Healthcare Ltd
New Zealand Australasian Equities1.33% -
Microsoft Corp
United States International Equities1.3%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 5.5% | 10.84% |
| New Zealand Fixed Interest | 19.5% | 16.29% |
| International Fixed Interest | 35.0% | 34.64% |
| Australasian Equities | 12.5% | 12.64% |
| International Equities | 27.5% | 25.59% |
| 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 31st Dec. 2022.