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

    • BHP Billiton Ltd 0.53%
    • Contact Energy 0.49%
    • Woodside Energy Group 0.29%
    • Santos Limited 0.22%
    • American Electric Power 0.15%
    • Duke Energy Corporation 0.12%
    • Dominion Energy Inc 0.11%
    • Entergy Corp 0.11%
    • Genesis Energy Ltd 0.11%
    • Sempra 0.11%
    • National Grid PLC 0.10%
    • Enbridge Inc 0.09%
    • Koninklijke Vopak Nv 0.09%
    • Cheniere Energy Inc 0.08%
    • Nisource Inc 0.08%
    • Edp-Energias De Portugal SA 0.06%
    • Valero Energy Corp 0.06%
    • Williams Cos Inc 0.06%
    • Ampol Ltd 0.05%
    • Marathon Petroleum Corp 0.05%
    • Hf Sinclair Corporation 0.04%
    • Shell PLC 0.04%
    • China Petroleum & Chemical 0.03%
    • Itochu Corp 0.03%
    • Lyondellbasell Industries Class A 0.03%
    • Phillips 66 0.03%
    • Ck Hutchinson Holdings Ltd 0.02%
    • Genesis Energy Ltd 14/03/28 4.17% 0.02%
    • Marubeni Corp 0.02%
    • Mitsui Co Ltd 0.02%
    • Nrg Energy Inc 0.02%
    • OMV AG 0.02%
    • Repsol SA 0.02%
    • Sojitz Corporation 0.02%
    • Tenaga Nasional Berhad 0.02%
    • Vistra Corp 0.02%
    • Contact Energy 11/04/2028 5.82% Nzcend0070L8 0.01%
    • Dominion Energy Inc Callable Notes Fixed 2.25% 15-Aug-31 Us25746Udl08 0.01%
    • Lg Corp 0.01%
    • Lg Uplus Corp 0.01%
    • Motor Oil Corinth Refineries SA 0.01%
    • Shell International Finance Bv Callable Notes 3.25% 11-May-25 Us822582Bd31 0.01%
    • Walmart De Mexico Sab De 0.18%
    • Amphenol Corporation - Class A 0.14%
    • Dicks Sporting Goods Inc. 0.05%
    • Canadian Tire Corp - Class A 0.02%
    • Flutter Entertainment PLC 0.20%
    • Aristocrat Leisure Limited 0.15%
    • Sky City Entertainment Group 0.15%
    • Sky City Ltd 0.10%
    • The Lottery Corp Ltd 0.08%
    • Heineken Nv 0.55%
    • Diageo PLC 0.46%
    • Pernod-Ricard SA 0.33%
    • Treasury Wine Estates Limited 0.12%
    • Carlsberg As - B Shs 0.11%
    • Molson Coors Beverage Co 0.05%
    • Beijing Enterprises Limited 0.02%
    • Nestle SA 0.84%
    • Thermo Fisher Scientific Inc 0.66%
    • BHP Billiton Ltd 0.53%
    • Bayer AG 0.22%
    • Rio Tinto Limited 0.16%
    • Duke Energy Corporation 0.12%
    • Shell PLC 0.04%
    • Wells Fargo & Co Callable Medium Term Note 24-Mar-28 24-Mar-28 Us95000U2V48 0.04%
    • Archer Daniels Midland Co 0.03%
    • China Petroleum & Chemical 0.03%
    • Johnson & Johnson 0.03%
    • Adeka Corp 0.02%
    • Credit Suisse Group AG Callable Notes Variable 01-Apr-31 01-Apr-31 Us225401Ap33 0.02%
    • Credit Suisse Group AG Callable Notes Variable 02-Apr-32 02-Apr-32 Ch1174335740 0.02%
    • Teva Pharmaceutical Industries Limited 0.02%
    • Shell International Finance Bv Callable Notes 3.25% 11-May-25 Us822582Bd31 0.01%
    • Nestle SA 0.84%
    • Danone 0.31%
    • Coca Cola Co 0.30%
    • Koninklijke Dsm Nv 0.28%
    • Air Liquide 0.26%
    • PPG Industries Inc 0.23%
    • Bayer AG 0.22%
    • 3M Company 0.21%
    • Rentokil Initial PLC 0.15%
    • Burberry Group PLC 0.14%
    • Colgate Palmolive Co 0.14%
    • Akzo Nobel N.V 0.13%
    • Orica Ltd 0.09%
    • Sherwin-Williams Co 0.08%
    • Hermes International 0.07%
    • Koninklijke Ahold Delhaize Nv 0.05%
    • Molson Coors Beverage Co 0.05%
    • The Kraft Heinz Company 0.05%
    • The Mosaic Company 0.05%
    • Shell PLC 0.04%
    • Archer Daniels Midland Co 0.03%
    • Celanese Corporation Series A 0.03%
    • China Petroleum & Chemical 0.03%
    • Eastman Chemical Co 0.03%
    • Lyondellbasell Industries Class A 0.03%
    • Tyson Foods Inc-Cl A 0.03%
    • Adeka Corp 0.02%
    • Huntsman Corp 0.02%
    • Solvay SA 0.02%
    • Tesco PLC 0.02%
    • Xerox Corp 0.02%
    • Yara International Asa 0.02%
    • Ingredion Inc 0.01%
    • Mitsubishi Gas Chemical Co 0.01%
    • Shell International Finance Bv Callable Notes 3.25% 11-May-25 Us822582Bd31 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

The Balanced Growth Fund invests mainly in growth assets (equities, listed property and listed infrastructure), with some exposure to income assets (cash and cash equivalents and fixed interest). The fund also has a small exposure to alternative assets.
The fund aims to achieve a positive yearly return (after the fund charge and before tax) that over the long-term is moderate to higher allowing for moderate to large movements of value up and down including occasional negative yearly returns.

Value $48M NZD
Period of data report 31st Dec. 2022
Fund started 28th Feb. 1993
Total annual fund fees 1.02%
Total performance based fees 0.0%
Manager's basic fee 0.95%
Other management and administration charges 0.07%
Total other charges 0.0
Total other charges currency NZD

Paul Huxford

Currently: Chief Investment Officer, New Zealand (4 years, 6 months)
Previously: Acting Chief Investment Officer, ANZ Bank New Zealand Limited (0 years, 3 months)

Alan Clarke

Currently: Co-Head of Diversified Portfolio Management (3 years, 10 months)
Previously: Senior Mandate Research Manager, ANZ Bank New Zealand Limited (3 years, 7 months)

Maaike Van Tol

Currently: Co-Head of Diversified Portfolio Management (3 years, 10 months)
Previously: Senior Asset Allocation Manager, ANZ Bank New Zealand Limited (1 years, 8 months)

Mathew Young

Currently: Head of FX Strategy and Implementation (3 years, 10 months)
Previously: Head of Investment Implementation, ANZ Bank New Zealand Limited (2 years, 2 months)

Helen Skinner

Currently: Head of Responsible Investing (0 years, 7 months)
Previously: Head of Emerging Wealth, Craigs Investment Partners (1 years, 2 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 1.67%
Animal Cruelty 4.45%
Fossil Fuels 3.79%
Gambling 0.68%
GMOs 0.00%
Human Rights & Environmental Violations 2.95%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 0.40%

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 1.53% 3.17%
2021 32.66% 23.59%
2020 -4.45% -3.31%
2019 6.15% 6.57%
2018 8.66% 6.25%
2017 7.20% 5.95%
2016 5.40% 3.69%
2015 12.09% 14.04%
2014 9.56% 8.2%
2013 13.67% 12.88%

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

  • Cash Deposit (J.P. Morgan USD)
    United States Cash and Equivalents A-1
    1.06%
  • Visa Inc
    United States International Equities
    1.0%
  • Fisher and Paykel Healthcare
    New Zealand Australasian Equities
    0.97%
  • United States Notes Fixed 0.875% - Repurchase Agreement
    United States Cash and Equivalents
    0.87%
  • New Zealand Government 15/05/24 0.5%
    New Zealand NZ Fixed Interest AAA
    0.78%
  • Nestle SA
    Switzerland International Equities
    0.69%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    0.68%
  • Hdfc Bank Ltd - Adr
    United States International Equities
    0.66%
  • Auckland International Airport
    New Zealand Australasian Equities
    0.6%
  • LVMH Moet Hennessy
    France International Equities
    0.56%
Type Target Actual
Cash and Cash Equivalents 6.0% 6.3%
New Zealand Fixed Interest 7.5% 8.65%
International Fixed Interest 21.5% 21.05%
Australasian Equities 12.0% 12.41%
International Equities 43.0% 41.54%
Listed Properties 7.5% 7.46%
Unlisted Properties 0.0% 0.0%
Other 2.5% 2.59%
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 31st Dec. 2022.