Funds
Pathfinder Ethical Growth Fund
Fund type: Growth fund
Past Returns: *-0.41%Annual Fees: 1.3%
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
Human Rights Violations
-
Activision Blizzard Inc 0.38%
Labour Rights Violations
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
ACTIVISION BLIZZARD INC Labour Rights Violations
Activision Blizzard is one of the world's largest video game publishers. The company has faced legal action and ongoing claims of equal pay violations, gender discrimination, sexual harassment and retaliation.
-
Caterpillar Inc 0.26%
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
CATERPILLAR INC War & Conflict
Caterpillar, a manufacturer of heavy equipment, power solutions, and locomotives, has a history of supplying the Israeli military. In 2004, Human Rights Watch reported the use of Caterpillar D9 bulldozers in demolishing over 250 Palestinian homes in Gaza, resulting in Palestinian casualties. Subsequently, in 2017, the Israeli military acquired numerous Caterpillar heavy engineering vehicles through a significant deal. The sale was financed by the United States Government, but the deal itself was between the Israeli military and Caterpillar. Incidents involving Caterpillar equipment causing harm to Palestinians have persisted, with recent instances reported as of 2023.
These occurrences include the use of Caterpillar equipment in demolishing Palestinian homes in illegally occupied territories, constructing illegal settlements and their infrastructure on occupied land, as well as building the Separation Wall in the West Bank and the Gaza border wall. Evidence also suggests Caterpillar’s products have been used by third parties in other conflict-affected areas, including Myanmar and the Western Sahara. Caterpillar's continued supply to these conflict areas raises concerns about its complicity in the misuse of its products.
-
Activision Blizzard Inc 0.38%
Fossil Fuels
-
Contact Energy Ltd 0.96%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
CONTACT ENERGY LTD Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel, and evidence shows that energy generated from fossil fuels accounts for 17% of generating capacity and 8% of the company’s revenues. However, Contact has announced plans for further investment in renewable generation. This includes NZD $1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Contact Energy Ltd 0.96%
1.5°C
Fund Provider Response
Pathfinder has completely divested the Activision Blizzard Inc, and Caterpillar stock, from all Pathfinder holdings since March and November 2023 respectively.
More than 85% of Contact Energy’s production is renewable and they have significant plans for new investment in renewable energy projects. Pathfinder supports companies who are serious about transitioning to a low or zero carbon future.
This data is compiled by Mindful Money from the fund information and portfolios
that each fund has
filed with the Disclose register to 31st March 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
In their own words
An ethical portfolio invested in growth and income assets.
Value | $31M NZD |
Period of data report | 30th June 2023 |
Fund started | 17th Aug. 2020 |
Total annual fund fees | 1.3% |
Total performance based fees | 0.0% |
Manager's basic fee | 1.25% |
Other management and administration charges | 0.05% |
Total other charges | 0.0 |
Total other charges currency | NZD |
Key Personnel
John Berry |
Currently: CEO (14 years, 3 months) |
Paul Brownsey |
Currently: CIO (14 years, 3 months) |
Kent Fraser |
Currently: Chair of Investment Committee (6 years, 9 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 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 | -4.94% | -2.73% |
2022 | 1.99% | 2.45% |
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 June 2023.
Top 10 Investments
-
Cash At Bank
New Zealand Cash and Equivalents AA-7.4418% -
Microsoft Corporation
United States Australasian Equities2.6104% -
Vctnz
New Zealand NZ Fixed Interest BBB+2.3246% -
Infratil Ltd
New Zealand Australasian Equities2.1812% -
First Solar Inc
United States International Equities2.1519% -
Lam Research Corp
United States International Equities1.9094% -
Asml Holding Nv
Netherlands International Equities1.6908% -
Telstra Corp Ltd
Australia Australasian Equities1.6134% -
Qbe Insurance Group Ltd
Australia Australasian Equities1.4331% -
Woolworths Ltd
Australia Australasian Equities1.3864%
Type | Target | Actual |
---|---|---|
Cash and Cash Equivalents | 7.7% | 11.5253% |
New Zealand Fixed Interest | 8.8% | 10.6336% |
International Fixed Interest | 11.7% | 6.9901% |
Australasian Equities | 20.6% | 22.686% |
International Equities | 41.5% | 40.1641% |
Listed Properties | 4.7% | 5.7833% |
Unlisted Properties | 0.0% | 0.0% |
Other | 5.0% | 2.2175% |
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 30th June 2023.