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

    • Enbridge Inc 0.79%
    • Texas Pacific Land Corp 0.70%
    • Franco Nevada Corp 0.49%
    • Eneos Holdings Inc 0.46%
    • Neste Oyj 0.32%
    • Totalenergies Se 0.32%
    • Galp Energia Sgps SA 0.23%
    • Idemitsu Kosan Co Ltd 0.21%
    • Valero Energy Corp 0.20%
    • Equinor Asa 0.19%
    • Parkland Corp 0.19%
    • Cheniere Energy Inc 0.17%
    • Hong Kong + China Gas 0.12%
    • Sumitomo Corp 0.04%
    • Walmart Inc 0.93%
    • L3Harris Technologies Inc 0.51%
    • Kongsberg Gruppen Asa 0.14%
    • Transdigm Group Inc 0.14%
    • Elbit Systems Ltd 0.07%
    • Mtu Aero Engines AG 0.07%
    • Rheinmetall AG 0.07%
    • Booz Allen Hamilton Holdings 0.04%
    • Johnson + Johnson 1.25%
    • Meta Platforms Inc Class A 0.49%
    • Thermo Fisher Scientific Inc 0.41%
    • Fmc Corp 0.16%
    • Motorola Solutions Inc 0.13%
    • Caterpillar Inc 0.11%
    • Uber Technologies Inc 0.08%
    • Elbit Systems Ltd 0.07%
    • Activision Blizzard Inc 0.03%
    • Bank Hapoalim Bm 0.02%
    • Bank Leumi Le Israel 0.02%
    • Coca Cola Co/The 0.70%
    • Procter + Gamble Co/The 0.60%
    • L Oreal 0.46%
    • Colgate Palmolive Co 0.45%
    • Ecolab Inc 0.33%
    • Sherwin Williams Co/The 0.32%
    • Umicore 0.32%
    • Estee Lauder Companies Cl A 0.29%
    • Mowi Asa 0.28%
    • LVMH Moet Hennessy Louis Vui 0.25%
    • Johnson Matthey PLC 0.24%
    • Idemitsu Kosan Co Ltd 0.21%
    • Unilever PLC 0.21%
    • Fmc Corp 0.16%
    • Denso Corp 0.13%
    • Keurig Dr Pepper Inc 0.13%
    • Church + Dwight Co Inc 0.11%
    • Henkel AG + Co Kgaa Vor Pref 0.11%
    • Kering 0.11%
    • PPG Industries Inc 0.11%
    • Koninklijke Ahold Delhaize N 0.10%
    • Shiseido Co Ltd 0.08%
    • Beiersdorf AG 0.07%
    • Entegris Inc 0.07%
    • Tesco PLC 0.05%
    • Henkel AG + Co Kgaa 0.03%

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

The Fund provides exposure to international share markets excluding Australia, which meet certain ethical investment criteria. The Fund currently invests in the State Street Climate ESG International Equity Fund, an Australian Unit Trust managed by State Street Global Advisors. The Fund targets a position of being close to 50% hedged to the New Zealand dollar. The investment objective of the Fund is to achieve capital growth and income in line with the MSCI World ex Australia Index (50% hedged to NZ dollars), subject to meeting certain ethical investment criteria, before taking into account fees and expenses.

Value $85M NZD
Period of data report 31st Dec. 2022
Fund started 1st April 2020
Total annual fund fees 0.41%
Total performance based fees 0.0%
Manager's basic fee 0.3%
Other management and administration charges 0.11%
Total other charges 0.0
Total other charges currency NZD

Matthew Goldsack

Currently: General Manager Investments (2 years, 10 months)
Previously: Head of Investment Solutions, BT Funds Management (11 years, 2 months)

Halie Hartigan

Currently: Investment Manager (0 years, 6 months)
Previously: Manager Responsible Investments, ASB Group Investments (9 years, 9 months)

Richard Frogley

Currently: Senior Portfolio Analyst (8 years, 6 months)
Previously: Research Manager, Macquarie Private Wealth New Zealand (1 years, 9 months)

Rachael Mcdonald

Currently: Chief Executive (0 years, 4 months)
Previously: Managing Partner, BVI, Mourant Ozannes (10 years, 0 months)

Shane Coward

Currently: Chief Operating Officer (8 years, 0 months)
Previously: General Manager Finance, Trust Investments Management Limited (12 years, 0 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 5.89%
Fossil Fuels 4.41%
Gambling 0.00%
GMOs 0.00%
Human Rights & Environmental Violations 2.79%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 1.97%

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 3.19% 8.7%
2021 36.07% 37.9%

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

  • State Street Climate ESG International Equity Fund
    Australia International Equities
    96.85%
  • Unrealised Foreign Exchange Hedging P&L
    New Zealand Cash and Equivalents AA-
    3.0%
  • Cash and Cash Equivalents
    New Zealand Cash and Equivalents AA-
    0.27%
Type Target Actual
Cash and Cash Equivalents 0.0% 0.27%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 0.0% 0.0%
International Equities 100.0% 99.73%
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.

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.