Lifetime Income Fund

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Not Mindful
Type: Balanced fund
Past Returns: 1.36%

Average annual returns over the past 3 years, after fees and taxes. * indicates less than 3 years of data.

Annual Fees: 1.46%

Annual fees, including any membership and % management 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

Agl Energy Ltd. 0.04%
Ampol Ltd. 0.03%
Apa Group 0.06%
BHP Group Ltd. 0.52%
Coca-Cola Amatil Ltd. 0.03%
Oil Search Ltd. 0.02%
Origin Energy Ltd. 0.04%
Rio Tinto Ltd. 0.18%
Santos Ltd. 0.04%
South32 Ltd. 0.05%
Washington H Soul Pattinson & Co. Ltd. 0.02%
Woodside Petroleum Ltd. 0.09%

Gambling

Aristocrat Leisure Ltd. 0.10%
Crown Resorts Ltd. 0.02%
Star Entertainment Grp Ltd. 0.01%
Tabcorp Holdings Ltd. 0.04%

Alcohol

Metcash Ltd. 0.02%
Treasury Wine Estates Ltd. 0.04%

Human Rights & Environmental Violations

BHP Group Ltd. 0.52%
Rio Tinto Ltd. 0.18%

Animal Testing

Coca-Cola Amatil Ltd. 0.030%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Wed Sept. 30th 2020 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.

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
2020 -2.86% -3.49%
2019 4.44% 4.06%
2018 4.90% 3.52%
2017 5.60% 2.5%

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 Wed Sept. 30th 2020.

Showing the top 10 investments for this fund:

  • Vanguard International Shares Select Exclusions Index Fund
    Australia Australasian Equities -
    39.53%
  • Vanguard International Fixed Interest Index Fund Hedged
    Australia Int Fixed Interest -
    26.88%
  • Vanguard Australian Fixed Interest Index Fund
    Australia Int Fixed Interest -
    9.1%
  • Vanguard Australian Shares Index Fund
    Australia Australasian Equities -
    8.88%
  • Harbour Enhanced Cash Fund
    New Zealand NZ Fixed Interest -
    8.43%
  • ANZ €˜On Call’ Cash Account
    New Zealand Cash and Equivalents AA-
    3.71%
  • Goldman Sachs New Zealand Dollar Trading Bank Account
    United States Cash and Equivalents A-2
    1.85%
  • Australia Dollars / New Zealand Dollars Futures Contract (Matures November 2020)
    Australia Cash and Equivalents -
    0.8%
  • Goldman Sachs United States Dollar Trading Bank Account
    United States Cash and Equivalents A-2
    0.25%
  • Goldman Sachs Australian Dollar Trading Bank Account
    United States Cash and Equivalents A-2
    0.23%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Wed Sept. 30th 2020.

How the money in this fund is invested against the fund's targets.

Target

Actual


Type Target Actual
Cash and Cash Equivalents 8.0% 7.18%
New Zealand Fixed Interest 7.0% 8.43%
International Fixed Interest 38.0% 35.98%
Australasian Equities 19.0% 8.88%
International Equities 22.0% 39.53%
Listed Properties 6.0% 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 Wed Sept. 30th 2020.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.06%
  • Animal Testing:
    0.04%
  • Fossil Fuels:
    1.19%
  • Gambling:
    0.18%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.70%
  • 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 Wed Sept. 30th 2020 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 the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"This Fund is designed to enable you to receive an income for life even after your original investment runs out. Its investment objective is to deliver a target return of 5.00% per-annum (before taxes and fees) over the long-term and limit average annualised volatility to no more than 6.00% over the long-term. The Fund invests in diversified index funds with underlying exposure to international and Australasian equities international and New Zealand fixed interest and cash and cash equivalents. This is combined with a Risk Management Overlay that is designed to manage market volatility and preserve the value of your money.The Regular Income you receive is insured and protected against the volatility of uncertain financial markets and the possibility of outliving your original investment. Your Regular Income is insured with Lifetime Income Limited a related party insurance company licensed by the Reserve Bank of New Zealand."

Value $130M NZD
Period of data report Wed Sept. 30th 2020
Members 843
Fund started Thu Dec. 10th 2015
Total annual fund fees 1.46%
Total performance based fees 0.0%
Manager's basic fee 0.44%
Administration charges 1.02%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Ralph Stewart

Currently: Managing Director Lifetime Asset Management Limited (6 years, 1 months)
Previously: Chief Executive Accident Compensation Corporation (1 years, 4 months)

Martin Hawes

Currently: Director Lifetime Asset Management Limited (4 years, 7 months)
Previously: Authorised Financial Adviser (current position) (17 years, 7 months)

James Beale

Currently: Director Lifetime Asset Management Limited (1 years, 2 months)
Previously: Chief Executive Oriens Capital (current position) (3 years, 9 months)

Charles Hett

Currently: Member Lifetime Asset and Liability Committee (0 years, 3 months)
Previously: Appointed Actuary Lifetime Income Limited (current position) (2 years, 1 months)

Craig Mcculloch

Currently: Principal Milliman (Australia) Inc (9 years, 7 months)
Previously: Market Risk Manager - OnePath (1 years, 3 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Wed Sept. 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital invested. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Advisers Act 2008 and any associated regulations.

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.