Foundation Series Balanced Fund

Not Mindful

Fund type: Balanced fund

Past Returns: No three year data yet

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

Annual Fees: 0.37%

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

Anglo American PLC 0.05%
Arcelormittal SA 0.01%
BHP Group Ltd 0.13%
Canadian Natural Resources Ltd 0.05%
Cenovus Energy Inc 0.01%
Cheniere Energy Inc 0.02%
Chevron Corp 0.22%
Conocophillips 0.09%
Devon Energy Corp 0.03%
Diamondback Energy Inc 0.01%
Dominion Energy Inc 0.05%
Enbridge Inc 0.06%
Energy Transfer Partners Lp 150325 4.05 Cb 0.04%
Engie SA 0.01%
Eni Spa 0.02%
Eog Resources Inc 0.05%
Equinor Asa 0.02%
Exxon Mobil Corp 0.23%
Franco-Nevada Corp 0.01%
Glencore PLC 0.04%
Hess Corp 0.01%
Itochu Corp 0.02%
Kinder Morgan Inc 0.02%
Lyondellbasell Industries Nv 0.01%
Marathon Petroleum Corp 0.03%
Mitsubishi Corp 0.03%
Mitsui & Co Ltd 0.02%
Occidental Petroleum Corp 0.03%
Oneok Inc 0.01%
Phillips 66 0.03%
Pioneer Natural Resources Co 0.04%
Public Service Enterprise Group Inc 0.02%
Repsol SA 0.01%
Santos Ltd 0.01%
Shell PLC 0.14%
South32 Ltd 0.01%
Suncor Energy Inc 0.03%
Tc Energy Corp 0.04%
Teck Resources Ltd 0.01%
Valero Energy Corp 0.03%
Williams Cos Inc/The 0.02%

Weapons

Amphenol Corp 0.03%
Teledyne Technologies Inc 0.01%
Transdigm Group Inc 0.02%

Tobacco

Alimentation Couche-Tard Inc 0.02%

Gambling

Skycity Entertainment Group Ltd 0.35%

Adult Entertainment/Pornography

Alcohol

Anheuser-Busch Inbev SA/Nv 0.03%
Brown-Forman Corp 0.01%
Constellation Brands Inc 0.03%
Diageo PLC 0.08%
Heineken Nv 0.01%
LVMH Moet Hennessy Louis Vuitton Se 0.14%
Pernod Ricard SA 0.03%

Palm Oil

GMOs

Corteva Inc 0.03%

Human Rights & Environmental Violations

Activision Blizzard Inc 0.04%
BHP Group Ltd 0.13%
Barrick Gold Corp 0.03%
Bayer AG 0.05%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.01%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.01%
Chevron Corp 0.22%
Credit Suisse Group AG 0.01%
Credit Suisse Group AG 020432 2.875 Cb 0.06%
Credit Suisse Group AG 120624 4.207 Cb 0.02%
Credit Suisse Group AG 240627 1.00 Cb 0.02%
Duke Energy Corp 0.06%
Energy Transfer Partners Lp 150325 4.05 Cb 0.04%
Freeport-Mcmoran Inc 0.05%
Glencore PLC 0.04%
Johnson & Johnson 0.31%
Motorola Solutions Inc 0.02%
Nestle SA 0.25%
Pg&E Corp 0.01%
Rio Tinto Ltd 0.01%
Rio Tinto PLC 0.06%
Shell PLC 0.14%
Uber Technologies Inc 0.03%

Animal Testing

Air Liquide SA 0.06%
Albemarle Corp 0.01%
Archer-Daniels-Midland Co 0.03%
Basf Se 0.03%
Bayer AG 0.05%
Bayer US Finance Ii Llc 151225 4.25 Cb 0.01%
Bayer US Finance Ii Llc 151228 4.375 Cb 0.01%
Chevron Corp 0.22%
Church & Dwight Co Inc 0.01%
Coca-Cola Co/The 0.17%
Corteva Inc 0.03%
Danone SA 0.02%
Dow Inc 0.03%
Dupont De Nemours Inc 0.02%
Ecolab Inc 0.03%
Estee Lauder Cos Inc/The 0.04%
Fujifilm Holdings Corp 0.01%
General Mills Inc 0.02%
Givaudan SA 0.03%
Hermes International 0.03%
Hp Inc 0.03%
International Flavors & Fragrances Inc 0.01%
Johnson & Johnson 0.32%
Keurig Dr Pepper Inc 0.01%
Kimberly-Clark Corp 0.03%
Koninklijke Dsm Nv 0.02%
Kraft Heinz Co/The 0.01%
L'Oreal SA 0.06%
LVMH Moet Hennessy Louis Vuitton Se 0.13%
Linde PLC 0.11%
Lyondellbasell Industries Nv 0.01%
Mondelez International Inc 0.06%
Mosaic Co/The 0.01%
Nestle SA 0.25%
Nutrien Ltd 0.04%
PPG Industries Inc 0.01%
Pepsico Inc 0.15%
Procter & Gamble Co/The 0.25%
Reckitt Benckiser Group PLC 0.03%
Reckitt Benckiser Treasury Services PLC 240622 Frn 0.01%
Shell PLC 0.14%
Sherwin-Williams Co/The 0.04%
Shin-Etsu Chemical Co Ltd 0.03%
Tesco PLC 0.01%
Tesco Property Finance PLC 130440 5.744 Sf 0.02%
Unilever PLC 0.08%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Thu March 31st 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.

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%	2.56%

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 Thu March 31st 2022.

Showing the top 10 investments for this fund:

Hunter Global Fixed Interest Fund
New Zealand Int Fixed Interest

25.7%
Macquarie Msci Global Index Shares Fund
New Zealand International Equities

25.68%
Macquarie NZ Shares Index Fund
New Zealand Australasian Equities AA-

19.91%
Macquarie Msci Hedged Global Index Shares
New Zealand International Equities

14.52%
Macquarie NZ Fixed Interest Fund
New Zealand NZ Fixed Interest

11.75%
Cash (BNZ)
New Zealand Cash and Equivalents AA-

1.31%
Macquarie NZ Cash Fund
New Zealand Cash and Equivalents

1.12%

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

How the money in this fund is invested against the fund's targets.

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	2.0%	6.05%
New Zealand Fixed Interest	12.0%	10.79%
International Fixed Interest	26.0%	23.8%
Australasian Equities	20.0%	20.7%
International Equities	40.0%	38.66%
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 Thu March 31st 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).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

Issue of concern

Does this fund say it excludes this?

Actual holdings
Adult Entertainment/Pornography:

0.03%
Alcohol:

0.40%
Animal Testing:

3.25%
Fossil Fuels:

2.10%
Gambling:

0.47%
GMOs:

0.03%
Human Rights & Environmental Violations:

1.68%
Palm Oil:

0.01%
Tobacco:

0.02%
Weapons:

0.12%

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 their policy may be less stringent than the definitions applied by Mindful Money.

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 Fund aims for mid-range long-run returns by investing in a diversified portfolio with a balance of income and growth assets. The Fund is managed with the objective of performing broadly in line with the return of its investment benchmark."

Value	$11M NZD
Period of data report	Thu March 31st 2022
Fund started	Wed Sept. 2nd 2020
Total annual fund fees	0.37%
Total performance based fees	0.0%
Manager's basic fee	0.37%
Other management and administration charges	0.0%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Mike Heath	Currently: Investment Committee Member (2 years, 0 months) Previously: General Manager, InvestNow (4 years, 0 months)
Anthony Edmonds	Currently: Investment Committee Member (2 years, 0 months) Previously: Managing Director, Implemented Investment Solutions (11 years, 4 months)
Anthony Sowerby	Currently: Investment Committee Member (2 years, 0 months) Previously: Senior Product Manager, Implemented Investment Solutions (0 years, 7 months)