Accordia A400

Not Mindful

Fund type: Growth fund

Past Returns: 7.37%

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

Annual Fees: 1.65%

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

BHP Group Ltd 1.17%
Woodside Energy Group Ltd 0.41%
Contact 0.25%
Santos Ltd 0.19%
South32 Ltd 0.10%
Origin Energy Ltd 0.08%
Apa Group Units 0.07%
Constellation Energy 0.07%
Valero Energy Corp 0.07%
Wec Energy Group Inc 0.06%
Xcel Energy Inc 0.05%
Ampol Ltd 0.04%
Enbridge Inc 0.04%
Iberdrola SA 0.04%
Shell PLC 0.04%
Washington H Soul Pattinson & Comp 0.04%
Whitehaven Coal Ltd 0.04%
Agl Energy Ltd 0.03%
Itochu Corporation 0.03%
Marathon Petroleum Corp 0.03%
Suncor Energy Inc 0.03%
Beach Energy Ltd 0.02%
Consolidated Edison Inc 0.02%
Constellation Energy Corp 0.02%
Glencore PLC 0.02%
Hf Sinclair Corp 0.02%
Neste Oyj 0.02%
Sempra Energy 0.02%
Texas Pacific Land Corp 0.02%
Atmos Energy Corp 0.01%
Brickworks Ltd 0.01%
Consolidated Edison Inc Com Usd0.10 0.01%
Pbf Energy Inc Com 0.01%
Phillips 66 0.01%
Phillips 66 Com Usd0.01 0.01%
Viva Energy Group Ltd 0.01%

Weapons

Walmart Inc 0.19%
Safran SA 0.05%
Airbus Se 0.03%
Booz Allen Hamilton Holdings 0.02%
Teledyne Technologies Inc 0.02%
Transdigm Group Inc 0.02%
Amphenol Corp Cl A 0.01%
Amphenol Corp-Cl A 0.01%
Brookfield Asset Management 0.01%
Caci International Inc -Cl A 0.01%
Science Applications Inte 0.01%

Tobacco

Gambling

Skycity 0.15%
Aristocrat Leisure Ltd 0.14%
Aristocrat Leisure 0.10%
Tabcorp Holdings Ltd 0.01%
The Star Entertainment Group Ltd 0.01%

Alcohol

Diageo PLC 0.12%
Endeavour Group Ltd 0.05%
Treasury Wine Estates Ltd 0.05%
Metcash Ltd 0.02%

GMOs

Corteva Inc 0.04%

Human Rights & Environmental Violations

BHP Group Ltd 1.17%
Meta Platforms Inc-Class A 0.22%
Rio Tinto Ltd 0.21%
Johnson & Johnson 0.20%
Rio Tinto Limited 0.18%
Johnson & Johnson Com US$1 0.17%
Wells Fargo & Company 0.15%
Thermo Fisher Scientific Inc 0.11%
Activision Blizzard Inc 0.09%
Caterpillar Inc 0.07%
Corteva Inc 0.04%
Fmc Corp 0.04%
Shell PLC 0.04%
Motorola Solutions Inc 0.03%
Rio Tinto PLC 0.03%
Rio Tinto PLC Ord 10P Gbp 0.03%
Wells Fargo & Co 0.03%
Bayer AG 0.02%
Glencore PLC 0.02%
Nufarm Ltd 0.01%
Uber Technologies Inc 0.01%

Animal Testing

Pepsico Inc 0.12%
Procter & Gamble Co/The 0.11%
Procter & Gamble Company 0.10%
LVMH Moet Hennessy Louis Vuitton 0.08%
Coca-Cola Co/The 0.07%
Coca Cola Co USD 0.06%
General Mills Inc 0.06%
Pepsico Inc Cap US$0.01 2/3 0.06%
Unilever PLC-Sponsored Adr 0.06%
3M Co 0.05%
Avantor Inc 0.05%
L'Oreal 0.05%
Mosaic Co/The 0.05%
Ping An Insurance 0.05%
Shell PLC 0.05%
Sherwin-Williams Co/The 0.05%
Unilever PLC 0.05%
Corteva Inc 0.04%
Fmc Corp 0.04%
Hermes International 0.04%
Kering 0.04%
Orica Ltd 0.04%
Sherwin Williams Com Usd1 0.04%
Colgate Palmolive Usd1 0.03%
Colgate-Palmolive Co 0.03%
Estee Lauder Companies-Cl A 0.03%
PPG Industries Inc 0.03%
Bayer AG 0.02%
Church & Dwight Co Inc 0.02%
Dupont De Nemours Inc 0.02%
Ecolab Inc 0.02%
Estee Lauder Companies 0.02%
Keurig Dr Pepper Inc 0.02%
Koninklijke Ahold Delhaize N 0.02%
Koninklijke Ahold Delhaize Nv 0.02%
Tapestry Inc 0.02%
Campbell Soup Co 0.01%
Church & Dwight Co 0.01%
Clorox Company 0.01%
Graincorp Class A Ltd 0.01%
Kellogg Co 0.01%
Kellogg Company 0.01%
Kraft Heinz Co Com Usd0.01 0.01%
Kraft Heinz Co/The 0.01%
Nufarm Ltd 0.01%
Tapestry Inc Com Usd0.01 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	1.53%	3.18%
2021	32.66%	25.2%
2020	-4.45%	-6.27%
2019	6.15%	1.07%
2018	8.66%	4.31%
2017	7.20%	8.26%
2016	5.40%	0.21%
2015	12.09%	10.45%
2014	9.56%	8.63%
2013	13.67%	8.24%

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 Global Sust. (NZD Hedged)
Australia International Equities

21.5%
Dimensional Global Sustainability PIE Fund
Australia International Equities

18.46%
Spdr S&P/ASX 200 Index
Australia Australasian Equities

11.82%
Cash At Bank - NZD (Speciality Two Fund)
New Zealand Cash and Equivalents AA-

10.11%
Blackrock Multi Opportunity Fund
Australia Other

5.1%
Man Ahl Alpha AUD Class B
Australia Other

4.71%
Aberdeen Standard Emerging Opportunity Fund
Australia International Equities

3.65%
Cash At Bank - AUD (Speciality Two Fund)
New Zealand Cash and Equivalents AA-

3.04%
Magellan Global Fund
Australia International Equities

3.0%
Aqr Wholesale Delta Fund Series 14
Australia Other

2.95%

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	12.0%	19.71%
New Zealand Fixed Interest	6.0%	2.25%
International Fixed Interest	0.0%	0.0%
Australasian Equities	11.0%	14.23%
International Equities	46.0%	48.54%
Listed Properties	0.0%	0.0%
Unlisted Properties	0.0%	0.0%
Other	25.0%	15.27%
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:

0.25%
Animal Testing:

2.56%
Fossil Fuels:

3.45%
Gambling:

0.44%
GMOs:

0.05%
Human Rights & Environmental Violations:

3.03%
Palm Oil:

0.00%
Tobacco:

0.02%
Weapons:

0.61%

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

"A400 invests in assets seeking to provide expected returns associated with growth assets, while managing movements up and down in value and preserving the purchasing power of capital."

Value	$23M NZD
Period of data report	Fri Sept. 30th 2022
Fund started	Mon Jan. 18th 2010
Total annual fund fees	1.65%
Total performance based fees	0.0%
Manager's basic fee	0.91%
Other management and administration charges	0.74%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Mark Wooster	Currently: CIO (Caliber Investment) (12 years, 10 months) Previously: CIO (Sovereign and ASB Group Investments) (5 years, 0 months)
Alan Austin	Currently: Independent Director (Accordia Asset Management Limited) (5 years, 7 months) Previously: Senior Investment Consultant (Eriksen & Associates) (6 years, 0 months)
Jason Ferguson	Currently: Investment Strategist (Caliber investment) (8 years, 3 months) Previously: Portfolio Manager (First State / ASB Group Investments) (9 years, 0 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.

Portfolio holdings v