Devon Sustainability Fund

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Mindful Fund

Fund type: Aggressive 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: 1.25%

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

Contact 6.04%

Human Rights & Environmental Violations

Petroleo Brasileiro SA Petrobras 0.04%

Animal Testing

Exxon Mobil Corp 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 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 3.19% 5.36%

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:

  • CSL Limited
    Australia Australasian Equities
    6.83%
  • Contact Energy
    New Zealand Australasian Equities
    6.07%
  • National Australian Bank
    Australia Australasian Equities
    5.06%
  • ANZ Banking Group
    Australia Australasian Equities
    4.87%
  • Ebos Group Limited
    New Zealand Australasian Equities
    4.68%
  • Telstra Corporation
    Australia Australasian Equities
    3.81%
  • Cleanaway Waste Management
    Australia Australasian Equities
    3.59%
  • Meridian Energy Limited
    New Zealand Australasian Equities
    3.46%
  • Mercury NZ Limited (Ns)
    New Zealand Australasian Equities
    3.44%
  • Resmed
    Australia Australasian Equities
    3.44%

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 5.0% 3.63%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 95.0% 96.37%
International Equities 0.0% 0.0%
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 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:
    0.00%
  • Animal Testing:
    0.06%
  • Fossil Fuels:
    6.17%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.04%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.00%

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.

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 invests in a select portfolio of well researched New Zealand and Australian listed companies that exhibit sustainable characteristics and those which demonstrate credible strategies to improve their outcomes with respect to ESG factors. The Sustainability Fund is actively managed, which means the holdings and returns may differ considerably from its benchmark. Devon is an independent investment management business that specialises in building investment portfolios for our clients that are comprised of companies listed on the New Zealand and Australian stock exchanges. Our approach is an active one where our rigorous research and analytical skills are applied to maximum advantage. Devon was established in March 2010 and is staffed by a number of leading investment professionals, most of whom are shareholders in the business."

Value $20M NZD
Period of data report Fri Sept. 30th 2022
Fund started Tue Sept. 1st 2020
Total annual fund fees 1.25%
Total performance based fees 0.0%
Manager's basic fee 1.0%
Other management and administration charges 0.25%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Slade Robertson

Currently: Managing Director, Devon Funds Management (5 years, 8 months)
Previously: Portfolio Manager, Devon Funds Management (6 years, 10 months)

Mark Brown

Currently: Chief Investment Officer, Devon Funds Management (4 years, 9 months)
Previously: Head of Equities, ANZ (6 years, 0 months)

Victoria Harris

Currently: Portfolio Manager, Devon Funds Management (1 years, 10 months)
Previously: Portfolio Manager, Pie Funds (3 years, 6 months)

Chris Gaskin

Currently: Portfolio Manager, Devon Funds Management (12 years, 6 months)
Previously: Portfolio Manager, Brook Asset Management (4 years, 2 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.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.