Funds
First Sentier Responsible Listed Infrastructure Fund
Fund type: Aggressive fund
Past Returns: *-2.90%Annual Fees: 0.99%
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
Fossil Fuels
-
Nextera Energy Inc 9.73%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Dominion Energy Inc 3.63%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Alliant Energy Corp 2.96%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Xcel Energy Inc 2.44%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Centerpoint Energy Inc 1.79%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Atlantica Sustainable Infras 1.63%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Public Service Enterprise Gp 1.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
PUBLIC SERVICE ENTERPRISE GP Fossil Fuel Power Generation
Public Service Enterprise Group is based in the USA and supplies electricity and natural gas to customers, primarily in New Jersey. Evidence shows that electricity generated from oil and gas accounts from 15% of the company’s total revenue. However, the company is in the process of divesting from their fossil fuel assets and in 2021 they shut down their last coal-fired plant. The company now plans to focus on nuclear power and natural gas and has set a target of net-zero emissions by 2030. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Iberdrola SA 1.00%
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.
IBERDROLA SA Fossil Fuel Power Generation
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Hera Spa 0.98%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Pinnacle West Capital 0.95%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Nextera Energy Partners Lp 0.52%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Enel Spa 0.50%
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.
ENEL SPA Fossil Fuel Power Generation
Enel is Europe’s largest electric utilities company by market capitalisation and holds a 70.1% stake in the energy company, Endesa. Evidence shows that energy generated from fossil fuels accounts for 15% of the company’s revenues. However, the company have announced plans to abandon coal by 2027 and gas by 2040, while investing significantly in expanding their renewable energy capacity. By 2030, the company expects to have invested a total of EUR €70 billion in renewable energy. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Nextera Energy Inc 9.73%
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 2024 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 invests in shares of listed companies around the world that own or operate infrastructure assets. The infrastructure sector includes operating assets from the transport, utilities, energy, and communications sectors. The assets held by these companies typically offer high barriers to entry, pricing power, and structural growth. The strategy is based on active, bottom-up security selection which seeks to identify mispricing. The fund seeks to minimise risk through on-the-ground research, an emphasis on quality, and sensible portfolio construction. The fund focuses on infrastructure companies that are delivering sustainable solutions from an environmental, social, and economic point of view; and that are seeking to contribute to, or benefit from sustainable development. Currency exposure will be hedged back into New Zealand dollars using forward currency contract derivatives.
| Value | $321M NZD |
| Period of data report | 30th June 2024 |
| Fund started | 17th Dec. 2013 |
| Total annual fund fees | 0.99% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.96% |
| Other management and administration charges | 0.03% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Peter Meany |
Currently: Head of Global Listed Infrastructure (17 years, 5 months) |
|
Rebecca Sherlock |
Currently: Portfolio Manager (7 years, 0 months) |
|
Trent Koch |
Currently: Portfolio Manager (10 years, 2 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 2024.
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 |
|---|---|---|
| 2024 | 14.61% | -2.35% |
| 2023 | -4.85% | -9.65% |
| 2022 | 3.53% | 12.04% |
| 2021 | 35.55% | 21.08% |
| 2020 | -7.06% | -11.96% |
| 2019 | 10.17% | 16.29% |
| 2018 | 7.53% | -0.57% |
| 2017 | 9.49% | 13.62% |
| 2016 | 4.71% | 6.3% |
| 2015 | 14.67% | 21.92% |
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 2024.
Top 10 Investments
-
Union Pacific Corp
United States International Equities8.39% -
Nextera Energy Inc
United States International Equities8.39% -
American Twr Reit Inc
United States Listed Property5.8% -
Canadian Natl Railway Co
Canada International Equities4.77% -
Exelon Corporation
United States International Equities4.76% -
Norfolk Southern Corp USD
United States International Equities4.63% -
Eversource Energy Com
United States International Equities4.61% -
National Grid
United Kingdom International Equities4.47% -
Dominion Energy Inc
United States International Equities4.12% -
Xcel Energy Inc
United States International Equities3.81%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 2.0% | 3.32% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 4.65% |
| International Equities | 98.0% | 83.58% |
| Listed Properties | 0.0% | 8.52% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | -0.07% |
| 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 2024.