Funds
Integral Master Trust Diversified 40 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
- 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 Cruelty
- 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 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 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 | 31st Dec. 2022 |
| Fund started | 25th May 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: Chief Financial Officer at Britannia Financial Services Ltd (5 years, 5 months) |
|
Alun Rees-Williams |
Currently: General Manager Distribution and Director at Britannia Financial Services Ltd (22 years, 2 months) |
|
Gavin Dixon |
Currently: Chief Executive Officer and Director at Britannia Financial Services Ltd (7 years, 0 months) |
|
Gregg Dell |
Currently: General Manager of Wealth Products and General Counsel at Britannia Financial Services Ltd (6 years, 10 months) |
|
Michael Pipe |
Currently: General Manager - Operations at Britannia Financial Services Ltd (2 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 | 0.00% | |
| Animal Cruelty | 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 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% | -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 31st Dec. 2022.
Top 10 Investments
-
Dimensional Five-Year Diversified Fixed Interest Trust
Australia Int Fixed Interest43.54% -
Harbour Enhanced Cash
New Zealand Cash and Equivalents12.0% -
BNZ Call Account
New Zealand Cash and Equivalents AA-2.54% -
Apple Inc Common Stock
United States International Equities1.42% -
Microsoft Corp Common
United States International Equities0.64% -
Meta Platforms Inc Common
United States International Equities0.37% -
Alphabet Inc Common Stock
United States International Equities0.32% -
Unitedhealth Group Inc
United States International Equities0.32% -
Alphabet Inc Common Stock
United States International Equities0.31% -
Jpmorgan Chase & Co
United States International Equities0.31%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 15.0% | 14.55% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 45.0% | 43.54% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 40.0% | 41.91% |
| 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.