Harbour Income Fund

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Fund type: Conservative fund

Past Returns: 5.17%

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

Annual Fees: 0.66%

Annual fees, including management and administration fees, but not membership 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

Contact Energy Limited 1.77%
Channel Infrastructure NZ Limited 1.05%
Apa Group 0.41%
Genesis Energy Limited 08/03/2023 5.81% 0.20%
Contact Energy Limited 15/08/2024 3.55% 0.16%
BHP Group Limited 0.05%
Santos Limited 0.02%
BHP 0.01%
Conocophillips 0.01%
Eog Resources 0.01%
Galp Energia Sgps 0.01%
Hess 0.01%
Reliance Industries 0.01%
Sempra Energy 0.01%
South32 0.01%

Weapons

Airbus 0.01%
Amphenol 0.01%
Brookfield Asset Management 0.01%
Teledyne Technologies 0.01%

Alcohol

Masan 0.02%
Treasury Wine Estates Limited 0.02%
Tsingtao Brewery 0.01%
United Spirits 0.01%

Human Rights & Environmental Violations

Nufarm Finance NZ Ltd 15/04/2100 Frn 0.15%
BHP Group Limited 0.05%
BHP 0.01%
Meta Platforms 0.01%
Nutrien 0.01%
Thermo Fisher Scientific 0.01%
Wells Fargo 0.01%

Animal Testing

Nufarm Finance NZ Ltd 15/04/2100 Frn 0.15%
Darling Ingredients 0.01%
Estee Lauder 0.01%
Koninklijke Dsm 0.01%
Nutrien 0.01%
Reliance Industries 0.01%
Rentokil Initial 0.01%
Sherwin-Williams 0.01%
Symrise 0.01%
Unilever 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 Fri Sept. 30th 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.

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 -0.26% 2.43%
2021 8.99% 14.88%
2020 0.27% -1.81%
2019 4.19% 7.06%
2018 3.39% 2.27%
2017 3.28% 3.18%

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 Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • ANZ NZD Cash
    New Zealand Cash and Equivalents AA-
    11.62%
  • Nzgs Index Linked Bond 20/09/2030 3.00%
    New Zealand NZ Fixed Interest AAA
    5.07%
  • Bank Of New Zealand 08/06/2026 1.884%
    New Zealand NZ Fixed Interest AA-
    3.61%
  • Revolution Private Debt Fund Ii
    Australia Other
    3.18%
  • Nzgs Index Linked Bond 20/09/2025 2.00%
    New Zealand NZ Fixed Interest AAA
    2.72%
  • Infratil Limited
    New Zealand Australasian Equities
    2.18%
  • Ebos Group Limited Ordinary Shares
    New Zealand Australasian Equities
    1.97%
  • Maia Multi Series 2021-1 Cls A 26/06/28
    New Zealand Other
    1.89%
  • Asian Development Bank 28/01/27 2.78%
    New Zealand NZ Fixed Interest AAA
    1.86%
  • Government Index Link Bd 20/09/35 2.50%
    New Zealand NZ Fixed Interest AAA
    1.78%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Fri Sept. 30th 2022.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 8.0% 12.92%
New Zealand Fixed Interest 50.0% 44.76%
International Fixed Interest 0.0% 9.91%
Australasian Equities 32.0% 19.15%
International Equities 10.0% 1.56%
Listed Properties 0.0% 4.57%
Unlisted Properties 0.0% 0.0%
Other 0.0% 7.13%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 2022.

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 Testing:
    0.24%
  • Fossil Fuels:
    3.74%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.25%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.04%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 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.

In their own words

"The Fund will invest predominantly in a range of fixed income and equity securities that are compatible with generating a favourable level of income through different economic environments."

Value $250M NZD
Period of data report Fri Sept. 30th 2022
Fund started Wed Oct. 28th 2015
Total annual fund fees 0.66%
Total performance based fees 0.0%
Manager's basic fee 0.54%
Other management and administration charges 0.12%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Mark Brown

Currently: Director, Head of Fixed Income (12 years, 0 months)
Previously: AXA/Alliance Bernstein, Head of Fixed Interest (16 years, 5 months)

Craig Stent

Currently: Executive Director & Head of Equities (12 years, 9 months)
Previously: Alliance Bernstein, Research Analyst (7 years, 3 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 2022.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.