Funds

Octagon Income Fund

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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

  • Fossil Fuel

    • BHP Group Limited 1.67%
    • Santos Limited 1.49%
    • Apa Group Limited 1.02%
    • Contact Energy Limited 1.01%
    • Genesis Energy Limited 0.78%
    • Genesis Energy Limited 5.0% 03/04/2025 0.28%
    • Contact Energy Limited Capital Bonds 19/11/2051 4.33% 0.23%
    • Channel Infrastructure 5.8% 20/05/2027 0.14%
    • Viva Energy Group Limited 0.09%
    • South32 Limited 0.07%
    • Channel Infrastructure NZ Limited 0.05%
    • Karoon Energy Ltd 0.02%

  • Gambling

    • Skycity Entertainment Group Limited 1.49%
    • Aristocrat Leisure Limited 0.07%
    • Skycity Entertainment Group Ltd 21/05/2027 3.02% 0.06%
    • The Star Entertainment Group Limited 0.03%

  • Alcohol

    • Endeavour Group Ltd 0.05%
    • Delegat Group Limited 0.03%
    • Treasury Wine Estates Limited 0.03%

  • Human Rights & Environmental Violations

    • BHP Group Limited 1.67%
    • Rio Tinto Limited 1.24%
    • Credit Suisse Group AG Sr Unsec 144A 0.04%
    • Credit Suisse Group AG Srunsec 144A Sofr 0.04%
    • Credit Suisse New York Sr Unsec 0.04%
    • Credit Suisse Group AG Coco Jr Sub 144A 0.03%
    • Credit Suisse Group AG Sr Unsec 0.03%
    • Wells Fargo & Company Sr Unsec Sofr 0.03%
    • Wells Fargo & Company **Full Call** 0.02%
    • Wells Fargo & Company Sofr 0.02%

  • Animal Cruelty

    • Campbell Soup Co Sr Unsec Smr 0.01%

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

In their own words

The fund aims to pay distributions, while maintaining the fund’s capital value over the long-term by selecting a mix of cash, fixed interest, equity and property investments. Investors can expect moderate to high levels of movement up and down in value and to receive longer-term returns that are generally higher than term deposit rates of domestic major banks (but with more risk) and are lower than those of the Growth Fund (but with less risk).

Value $9.5M NZD
Period of data report 31st Dec. 2022
Fund started 11th Dec. 2020
Total annual fund fees 0.76%
Total performance based fees 0.0%
Manager's basic fee 0.66%
Other management and administration charges 0.1%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Paul Robertshawe

Currently: Chief Investment Officer, Octagon Asset Management Limited (1 years, 1 months)
Previously: Portfolio Manager, Forsyth Barr Limited (0 years, 8 months)

Craig Alexander

Currently: Head of Fixed Interest and ESG, Octagon Asset Management Limited (1 years, 1 months)
Previously: Co-Head of Funds Management, Forsyth Barr Limited (8 years, 5 months)

Jason Lindsay

Currently: Head of Equities, Octagon Asset Management Limited (1 years, 1 months)
Previously: Co-Head of Funds Management, Forsyth Barr Limited (2 years, 2 months)

Neil Paviour-Smith

Currently: Director, Forsyth Barr Investment Management Limited (14 years, 10 months)
Previously: Managing Director at Forsyth Barr Investment Management Limited (current) (22 years, 0 months)

Christine Smith-Han

Currently: Equity and Strategy Analyst, Octagon Asset Management Limited (1 years, 1 months)
Previously: Portfolio Analyst, Forsyth Barr Limited (4 years, 10 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 0.11%
Animal Cruelty 0.01%
Fossil Fuels 6.85%
Gambling 1.65%
GMOs 0.00%
Human Rights & Environmental Violations 3.16%
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 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 0.34% 4.52%

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

  • US Treasury Bill 0.00% 02/03/2023
    United States Int Fixed Interest A1+
    3.85%
  • ANZ Transactional Bank Account
    New Zealand Cash and Equivalents AA-
    3.74%
  • Vital Healthcare Property Trust
    New Zealand Listed Property
    2.25%
  • Goodman Property Trust
    New Zealand Listed Property
    2.0%
  • BHP Group Limited
    Australia Australasian Equities
    1.86%
  • Infratil Limited
    New Zealand Australasian Equities
    1.83%
  • Genesis Energy Limited
    New Zealand Australasian Equities
    1.78%
  • Kiwi Property Group Limited
    New Zealand Listed Property
    1.69%
  • Santos Limited
    Australia Australasian Equities
    1.64%
  • New Zealand Rural Land Company
    New Zealand Listed Property
    1.62%
Type Target Actual
Cash and Cash Equivalents 5.0% 3.97%
New Zealand Fixed Interest 20.0% 21.07%
International Fixed Interest 20.0% 23.05%
Australasian Equities 40.0% 38.55%
International Equities 0.0% 0.0%
Listed Properties 15.0% 13.35%
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.

Target

Actual

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