Funds
Aspiring Fund
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
Human Rights Violations
-
Meta Platforms, Inc. 3.23%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
META PLATFORMS, INC. Public Safety
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
-
Uber Technologies, Inc. 1.06%
Labour Rights Violations
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
UBER TECHNOLOGIES, INC. Labour Rights Violations
Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
-
Ubs 0.87%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
UBS Business Ethics
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
-
Meta Platforms, Inc. 3.23%
Environmental Harm
-
Freeport-Mcmoran Inc 2.82%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
FREEPORT-MCMORAN INC Environmental Damage
Owns the Grasberg mine in Indonesia where tailings are disposed directly into a river. Note, this type of disposal is banned in most countries. The pollution causes significant negative impact to the health of indigenous communities and wildlife in a biodiversity hotspot.
-
Freeport-Mcmoran Inc 2.82%
Animal Cruelty
-
Hermès International Sca 1.04%
Animal Welfare Issues
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
-
Hermès International Sca 1.04%
Fossil Fuels
-
Contact Energy Ltd. 1.85%
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.
CONTACT ENERGY LTD. Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Diamondback Energy, Inc. 0.73%
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.
-
Santos Ltd. 0.69%
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.
SANTOS LTD. Fossil Fuel Production
An Australian oil and gas company with significant operations in natural gas and oil production and exploration. The company has plans for major short term expansion of exploration in Australia, Papua New Guinea, and Alaska. The company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 59%.
-
Beach Energy Ltd. 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.
-
Genesis Energy Ltd. 0.42%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
GENESIS ENERGY LTD. Fossil Fuel Power Generation
Genesis Energy is engaged in energy generation, trading and selling of electricity, and owns a portfolio of fossil fuel and renewable generation assets across New Zealand. Evidence shows that thermal generation from gas represents a significant portion of the company's total power generation (from the Huntly power station), and that oil and gas power revenues represent approximately 35% of the company's total revenue.
-
Channel Infrastructure 0.34%
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.
-
Contact Energy Ltd. 1.85%
1.5°C
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. 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 principally invests in Australasian and Globally listed Equities, although it may invest in any asset class (including investments in unlisted entities, underwriting arrangements, debt securities, and property). The principal objective of the Fund is to achieve positive absolute returns averaging at least 4% over inflation (after fees and expenses but before tax) over the long term.
| Value | $557M NZD |
| Period of data report | 30th Sept. 2024 |
| Fund started | 1st Feb. 2006 |
| Total annual fund fees | 1.96% |
| Total performance based fees | 0.74% |
| Manager's basic fee | 1.02% |
| Other management and administration charges | 0.19% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Murray Doyle |
Currently: Director (18 years, 9 months) |
|
Campbell Stuart |
Currently: Director (9 years, 7 months) |
|
Lance Reynolds |
Currently: Director (9 years, 4 months) |
|
Peter Wright |
Currently: Director (5 years, 6 months) |
|
David Lane |
Currently: Director (3 years, 0 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 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 | 12.57% | 17.03% |
| 2023 | -4.05% | 0.23% |
| 2022 | 1.38% | 4.05% |
| 2021 | 27.68% | 40.26% |
| 2020 | -4.45% | -4.07% |
| 2019 | 6.12% | 6.65% |
| 2018 | 8.66% | 6.76% |
| 2017 | 7.20% | 9.47% |
| 2016 | 5.40% | 11.69% |
| 2015 | 12.09% | 15.41% |
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 Sept. 2024.
Top 10 Investments
-
Cash and Cash Equivalents (NZD)
New Zealand Cash and Equivalents7.49% -
Amazon.Com Inc
United States International Equities3.94% -
Microsoft Corporation
United States International Equities3.64% -
Meta Platforms Inc
United States International Equities3.23% -
Freeport - Mcmoran Copper
United States International Equities2.82% -
Eli Lilly and Company
United States International Equities2.5% -
CSL Limited
Australia Australasian Equities2.3% -
Infratil Ltd
New Zealand Australasian Equities2.27% -
Novo Nordisk A/S
Denmark International Equities2.18% -
Mastercard Inc-Class A
United States International Equities2.09%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 23.08% | 9.49% |
| New Zealand Fixed Interest | 3.85% | 6.3% |
| International Fixed Interest | 1.92% | 0.0% |
| Australasian Equities | 38.46% | 36.71% |
| International Equities | 28.85% | 45.38% |
| Listed Properties | 1.92% | 1.77% |
| Unlisted Properties | 0.77% | 0.24% |
| Other | 0.0% | 0.0% |
| Commodities | 1.15% | 0.11% |
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 Sept. 2024.