Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all managed defensive funds is 1.99%.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Genesis produces electricity from plants and distributes gas. They are expanding their portfolio of renewable assets (wind, solar farms and hydro) and options to reduce emissions from Huntly (battery technology and biomass use). However, in 2025 their total GHG emissions increased compared to FY24, driven by a 33% rise in Scope 3 emissions - primarily from the Huntly Power Station (Coal & Gas).
Invests in New Zealand cash (including term deposits) and is designed to provide a return (before tax, fees and other expenses) that outperforms the S&P/NZX Bank Bill 90-Day Index over rolling one-year periods.
| Value | $247M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 28th Oct. 2016 |
| Total annual fund fees | 0.42% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.4% |
| Other management and administration charges | 0.02% |
| Total other charges | 12.0 |
| Total other charges currency | NZD |
|
Lisa Turnbull |
Currently: Chief Executive Officer - Smart (0 years, 6 months)
|
|
Stuart Kenneth Reginald Millar |
Currently: Chief Investment Officer - Smart (6 years, 10 months)
|
|
Jon Raby |
Currently: Director - Smart (0 years, 5 months)
|
|
Alister John Williams |
Currently: Director - Smart (10 years, 4 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 1.96% | 2.09% |
| 2025 | 3.78% | 3.77% |
| 2024 | 3.39% | 3.65% |
| 2023 | -0.79% | 2.11% |
| 2022 | -2.46% | 0.64% |
| 2021 | 2.15% | 0.79% |
| 2020 | 1.75% | 1.41% |
| 2019 | 2.76% | 1.81% |
| 2018 | 1.94% | 1.91% |
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 March 2026.
Nzlgfa Bond 15/04/26 1.50%
New Zealand Cash and Equivalents AAA
Rabobank Frn 08/12/26
New Zealand Cash and Equivalents A+
Kiwibank Td 17/12/26 3.15%
New Zealand Cash and Equivalents A-1
Toyota Finance New Zealand Frn 30/09/27
New Zealand Cash and Equivalents A+
Bank Of New Zealand Bond 08/06/26 1.884
New Zealand Cash and Equivalents AA-
Transpower NZ Frn 14/09/26
New Zealand Cash and Equivalents AA
Auckland Council Frn 04/10/27
New Zealand Cash and Equivalents AA
Kiwibank Td 14/09/26 3.08%
New Zealand Cash and Equivalents AA
Westpac New Zealand Td 18/12/26 3.075%
New Zealand Cash and Equivalents A-1+
Westpac New Zealand Td 18/06/26 2.925%
New Zealand Cash and Equivalents A-1+
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 100.0% | 100.0% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| 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% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 2026 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.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Genesis produces electricity from plants and distributes gas. They are expanding their portfolio of renewable assets (wind, solar farms and hydro) and options to reduce emissions from Huntly (battery technology and biomass use). However, in 2025 their total GHG emissions increased compared to FY24, driven by a 33% rise in Scope 3 emissions - primarily from the Huntly Power Station (Coal & Gas).
Invests in New Zealand cash (including term deposits) and is designed to provide a return (before tax, fees and other expenses) that outperforms the S&P/NZX Bank Bill 90-Day Index over rolling one-year periods.
| Value | $247M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 28th Oct. 2016 |
| Total annual fund fees | 0.42% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.4% |
| Other management and administration charges | 0.02% |
| Total other charges | 12.0 |
| Total other charges currency | NZD |
|
Lisa Turnbull |
Currently: Chief Executive Officer - Smart (0 years, 6 months)
|
|
Stuart Kenneth Reginald Millar |
Currently: Chief Investment Officer - Smart (6 years, 10 months)
|
|
Jon Raby |
Currently: Director - Smart (0 years, 5 months)
|
|
Alister John Williams |
Currently: Director - Smart (10 years, 4 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 1.96% | 2.09% |
| 2025 | 3.78% | 3.77% |
| 2024 | 3.39% | 3.65% |
| 2023 | -0.79% | 2.11% |
| 2022 | -2.46% | 0.64% |
| 2021 | 2.15% | 0.79% |
| 2020 | 1.75% | 1.41% |
| 2019 | 2.76% | 1.81% |
| 2018 | 1.94% | 1.91% |
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 March 2026.
Nzlgfa Bond 15/04/26 1.50%
New Zealand Cash and Equivalents AAA
Rabobank Frn 08/12/26
New Zealand Cash and Equivalents A+
Kiwibank Td 17/12/26 3.15%
New Zealand Cash and Equivalents A-1
Toyota Finance New Zealand Frn 30/09/27
New Zealand Cash and Equivalents A+
Bank Of New Zealand Bond 08/06/26 1.884
New Zealand Cash and Equivalents AA-
Transpower NZ Frn 14/09/26
New Zealand Cash and Equivalents AA
Auckland Council Frn 04/10/27
New Zealand Cash and Equivalents AA
Kiwibank Td 14/09/26 3.08%
New Zealand Cash and Equivalents AA
Westpac New Zealand Td 18/12/26 3.075%
New Zealand Cash and Equivalents A-1+
Westpac New Zealand Td 18/06/26 2.925%
New Zealand Cash and Equivalents A-1+
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 100.0% | 100.0% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| 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% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 2026 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.
