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:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • P G & E Corp 2.72%
    • Enbridge Inc 6.94% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • National Grid PLC 4.36% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Tc Energy Corp 3.51% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Sempra Energy 3.45% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Williams Cos Inc 3.31% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Cheniere Energy Inc 3.22% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Oneok Inc 2.98%
    • P G & E Corp 2.72%
    • Kinder Morgan Inc 2.59% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Consolidated Edison Inc 2.38%
    • Fortis Inc 1.83% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Pembina Pipeline Corp 1.64% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Targa Resources Corp 1.55%
    • Centerpoint Energy Inc 1.37%
    • Atmos Energy Corp 1.27%
    • Snam Spa 0.95% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Tokyo Gas Co Ltd 0.91% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Nisource Inc 0.82%
    • Hong Kong & China Gas 0.74% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Apa Group 0.67% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Enn Energy Holdings Ltd 0.62%
    • Keyera Corp 0.53% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Naturgy Energy Group SA 0.50%
    • Brookfield Infrastructure-A 0.41%
    • Dt Midstream Inc 0.41%
    • Enagas SA 0.39% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Kunlun Energy Co Ltd 0.34% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Antero Midstream Corp 0.33%
    • Enlink Midstream Llc 0.24%
    • Spire Inc 0.24%
    • Northwestern Corp 0.23%
    • Vopak 0.22% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • New Fortress Energy Inc 0.17% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Beijing Enterprises Hldgs 0.16%
    • Chesapeake Utilities Corp 0.14%
    • Westshore Terminals Investme 0.06%

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. 2023 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 Kernel Global Infrastructure Fund invests in globally listed pure-play infrastructure companies and is designed to track the Dow Jones Brookfield Global Infrastructure Index (NZD)

Value $170M NZD
Period of data report 30th Sept. 2023
Fund started 15th July 2020
Total annual fund fees 0.25%
Total performance based fees 0.0%
Manager's basic fee 0.25%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Dean Anderson

Currently: Chief Executive (5 years, 0 months)
Previously: Smartshares Product Manager, NZX (4 years, 4 months)

Stephen Upton

Currently: Chief Operating Officer (4 years, 3 months)
Previously: Smartshares Chief Operating Officer - NZX (3 years, 6 months)

Kerry Mcintosh

Currently: Director (4 years, 3 months)
Previously: Operating Partner, Zino Ventures (current) (5 years, 7 months)

Paul Hocking

Currently: Director (4 years, 3 months)
Previously: Director, Trustee Executors Limited (10 years, 9 months)

Julian Knights

Currently: Director (2 years, 10 months)
Previously: Founding Partner, Ironbridge Capital (17 years, 8 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2023.

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
2023 -5.17% 2.37%
2022 3.53% 17.1%

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 30th Sept. 2023.

Top 10 Investments

  • Enbridge Inc
    Canada International Equities
    6.94%
  • American Tower Corp A
    United States International Equities
    6.18%
  • Vinci Ord
    France International Equities
    5.57%
  • National Grid PLC Ord
    United Kingdom International Equities
    4.36%
  • Tc Energy Corporation
    Canada International Equities
    3.51%
  • Sempra Energy
    United States International Equities
    3.45%
  • The Williams Companies Inc
    United States International Equities
    3.31%
  • Cheniere Energy Inc
    United States International Equities
    3.22%
  • Crown Castle Intl Corp
    United States International Equities
    3.22%
  • Exelon Ord
    United States International Equities
    3.03%
Type Target Actual
Cash and Cash Equivalents 0.0% 0.17%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 0.0% 4.17%
International Equities 100.0% 95.67%
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 30th Sept. 2023.