Integral Master Trust Diversified 40 Fund

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Fund type: Balanced fund

Past Returns: 3.54%

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

Annual Fees: 0.99%

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

Shell International Fin 0.500000% 05/11/2024 0.12%
Chevron Corp 2.954000% 05/16/2026 0.10%
Valero Energy Corp 0.09%
Shell International Fin 2.875000% 05/10/2026 0.07%
Chevron Corp 1.554000% 05/11/2025 0.06%
Equinor Asa 1.750000% 01/22/2026 0.06%
Iberdrola SA 0.04%
Altagas Income Ltd 0.02%
Dt Midstream Inc Com Usd0.01 0.02%
Enbridge Inc 0.02%
Hf Sinclair Corpor Com Usd0.01 0.02%
Lyondellbasell Industries 0.02%
Pbf Energy Inc Com 0.02%
Phillips 66 Com Usd0.01 0.02%
Atmos Energy Corp 0.01%
Cheniere Energy Inc 0.01%
Consolidated Edison Inc Com Usd0.10 0.01%
Enagas 0.01%
Exxon Mobil Corporation 0.142000% 06/26/2024 0.01%
Loews Corp 0.01%
Neste Oyj 0.01%
Parkland Corp 0.01%
Power Assets Holdings Limited 0.01%

Weapons

Walmart Inc 0.26%
Walmart Inc 1.050000% 09/17/2026 0.18%
Amphenol Corp Cl A 0.03%
Brookfield Asset Management 0.02%
Caci International Inc - Class A 0.02%
Curtiss-Wright Corp 0.02%
Dick'S Sporting Goods Inc 0.02%
Heico Corp Com Usd0.01 0.02%
Oshkosh Corporation 0.02%
Teledyne Technologies Inc 0.02%
Transdigm Group Inc 0.02%
Wal Mart De Mexico 0.02%
Ati Inc 0.01%
Hexcel Corp 0.01%
Howmet Aerospace I Com USD 0.01%
Kawasaki Heavy Industries Ltd 0.01%
Rheinmetall AG 0.01%
Science Applications International Corp 0.01%
Woodward Inc 0.01%

Tobacco

Casey'S General Stores Inc 0.03%

GMOs

Corteva Inc 0.03%

Human Rights & Environmental Violations

Meta Platforms Inc 0.47%
Johnson & Johnson Com US$1 0.32%
Thermo Fisher Scientific Inc 0.19%
Nestle Holdings Inc 0.625000% 01/15/2026 0.15%
Shell International Fin 0.500000% 05/11/2024 0.12%
Rio Tinto PLC Ord 10P Gbp 0.08%
Wells Fargo & Company 0.08%
Caterpillar Inc 0.07%
Shell International Fin 2.875000% 05/10/2026 0.07%
Activision Blizzard Inc 0.06%
Corteva Inc 0.03%
Rio Tinto Limited 0.03%
Bank Leumi Le-Israel 0.02%
Barrick Gold Corp 0.02%
Fmc Corp 0.02%
Li Ning Co Ltd 0.02%
Mattel Inc Com Usd1.00 0.02%
Motorola Solutions Inc 0.02%
Nutrien Ltd Com Npv 0.02%
Uber Technologies Inc 0.02%
American Vanguard Cor 0.01%
Credit Suisse Group Chf3.00 0.01%

Animal Testing

Procter & Gamble Company 0.19%
Nestle Holdings Inc 0.625000% 01/15/2026 0.15%
Coca Cola Co USD 0.13%
Shell International Fin 0.500000% 05/11/2024 0.12%
Chevron Corp 2.954000% 05/16/2026 0.10%
Pepsico Inc Cap US$0.01 2/3 0.10%
Unilever PLC 0.10%
L'Oreal 0.07%
Shell International Fin 2.875000% 05/10/2026 0.07%
Chevron Corp 1.554000% 05/11/2025 0.06%
General Mills Inc 0.06%
Koninklijke Ahold Delhaize Nv 0.05%
3M Co 0.04%
Hermes International 0.04%
Kering 0.04%
Sherwin Williams Com Usd1 0.04%
Albermarle Corp 0.03%
Church & Dwight Co 0.03%
Corteva Inc 0.03%
Estee Lauder Companies 0.03%
PPG Industries Inc 0.03%
Ping An Insurance Group Of China Limited 0.03%
Tapestry Inc Com Usd0.01 0.03%
Arkema 0.02%
Colgate Palmolive Usd1 0.02%
Coty Inc 0.02%
Covestro AG 0.02%
Daikin Industries 0.02%
Danone 0.02%
Dupont De Nemours Inc 0.02%
Fmc Corp 0.02%
Kellogg Company 0.02%
Keurig Dr Pepper Inc 0.02%
Kraft Heinz Co Com Usd0.01 0.02%
Lyondellbasell Industries 0.02%
Mosaic Co Com 0.02%
Nutrien Ltd Com Npv 0.02%
Rpm International Inc 0.02%
Akzo Nobel Nv Eur0.50 0.01%
American Vanguard Cor 0.01%
Avantor Inc 0.01%
Bic 0.01%
Campbell Soup Co USD 0.01%
Canon Inc 0.01%
Capri Holdings Ltd Com Npv 0.01%
Chr Hansen Holding A S 0.01%
Dksh Holding AG 0.01%
Dow Inc 0.01%
Exxon Mobil Corporation 0.142000% 06/26/2024 0.01%
Fuji Film Holdings Corp 0.01%
Graincorp Limited 0.01%
Hb Fuller Co 0.01%
Huntsman Corporation 0.01%
Iwatani Corp 0.01%
Kao Corporation Jpy50 0.01%
Koninklijke Dsm Nv 0.01%
Meiji Holdings Co 0.01%
Nan Ya Plastics Corp 0.01%
Procter & Gamble Co/The 1.000000% 04/23/2026 0.01%
Ralph Lauren Corp Com 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 0.34% -1.12%
2021 17.46% 14.35%
2020 -1.59% -2.6%
2019 4.47% 3.2%
2018 4.41% 3.07%
2017 5.71% 6.77%
2016 3.06% 2.17%
2015 8.56% 8.33%
2014 6.13% 3.76%
2013 8.77% 4.91%

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:

  • Dimensional Five-Year Diversified Fixed Interest Trust-NZD Class
    Australia Int Fixed Interest
    42.26%
  • Harbour Enhanced Cash Fund
    New Zealand Cash and Equivalents
    11.65%
  • BNZ Call Account
    New Zealand Cash and Equivalents AA-
    2.18%
  • Apple Inc
    United States International Equities
    1.72%
  • Microsoft Corp Usd0.00005
    United States International Equities
    0.79%
  • Meta Platforms Inc
    United States International Equities
    0.47%
  • Amazon Com Inc
    United States International Equities
    0.47%
  • Alphabet Inc Cap Stk Usd0.001 Cl A
    United States International Equities
    0.4%
  • Unitedhealth Group Inc Com Stk Us0.01
    United States International Equities
    0.4%
  • Alphabet Inc Cap Usd0.001 Cl C
    United States International Equities
    0.38%

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 15.0% 13.83%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 45.0% 42.26%
Australasian Equities 0.0% 0.0%
International Equities 40.0% 43.91%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
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:
    0.00%
  • Animal Testing:
    2.56%
  • Fossil Fuels:
    0.96%
  • Gambling:
    0.00%
  • GMOs:
    0.03%
  • Human Rights & Environmental Violations:
    1.89%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.03%
  • Weapons:
    0.80%

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 Diversified 40 Fund is a diversified fund providing a consistent exposure to the cash, fixed interest and shares asset classes using both qualitative and quantitative investment techniques, and with a slight bias towards defensive assets."

Value $20M NZD
Period of data report Fri Sept. 30th 2022
Fund started Wed May 25th 2011
Total annual fund fees 0.99%
Total performance based fees 0.0%
Manager's basic fee 0.99%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Elaine West

Currently: Financial Controller at Britannia Financial Services Ltd (5 years, 2 months)
Previously: Financial Controller at NZ Venture Investment Fund (8 years, 5 months)

Alun Rees-Williams

Currently: General Manager Distribution and Director at Britannia Financial Services Ltd (21 years, 11 months)
Previously: Administration Manager at David Milner and Associates (9 years, 0 months)

Gavin Dixon

Currently: Chief Executive Officer and Director at Britannia Financial Services Ltd (6 years, 9 months)
Previously: Chief Executive Officer at Stream Holdings Group (0 years, 6 months)

Gregg Dell

Currently: General Manager of Wealth Products and General Counsel at Britannia Financial Services Ltd (6 years, 7 months)
Previously: Managing Director at Dell Consulting Ltd (current position) (8 years, 7 months)

Michael Pipe

Currently: General Manager - Operations at Britannia Financial Services Ltd (2 years, 5 months)
Previously: Operations Manager at IOOF New Zealand Limited (9 years, 7 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.