Funds

Midlands Smarter PIE Fund

Companies of Concern

From the Fund Provider

  • About this fund

    About this Fund

    Midlands Smarter PIE Fund invests in a portfolio of loans secured by first mortgages over land and buildings in New Zealand and cash and cash equivalents held with registered banks. The investment objective of the Midlands Smarter PIE Fund is to provide investors with returns pre-tax (but after fees and expenses) which exceed the average 3 month term deposit rate advertised by all relevant New Zealand registered banks.

    Value $131M NZD
    Period of data report 31st March 2025
    Fund started 1st Nov. 2004
    Total annual fund fees 2.1%
    Total performance based fees 0.0%
    Manager's basic fee 1.78%
    Other management and administration charges 0.32%
    Total other charges 0.0
    Total other charges currency NZD

    Rhys Trusler

    Currently: CHIEF EXECUTIVE OFFICER (2 years, 6 months)
    Previously: Managing Partner, Southern Cross Partners (2 years, 0 months)

    Chris Fenwick

    Currently: CHIEF FINANCIAL OFFICER (0 years, 3 months)
    Previously: Finance Adviser (2 years, 11 months)

    This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    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 12.48% 6.58%
    2023 -4.05% 5.55%
    2022 1.38% 4.3%
    2021 27.68% 4.23%
    2020 -4.45% 5.16%
    2019 6.12% 5.25%
    2018 8.66% 6.97%
    2017 7.20% 4.69%
    2016 5.40% 6.12%
    2015 12.09% 5.09%

    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 2025.

  • Investments

    Top 10 Investments

    • Cash & Cash Equivalents Jarden

      New Zealand Cash and Equivalents

      0.0975%
    • Cash & Cash Equivalents ANZ

      New Zealand Cash and Equivalents AA-

      0.0454%
    • Loan Secured Over Commercial Property In Hawkes Bay

      New Zealand Unlisted Property

      0.035%
    • Loan Secured Over Residential Property In Auckland

      New Zealand Other

      0.0295%
    • Loan Secured Over Residential Property In Auckland

      New Zealand Other

      0.0289%
    • Loan Secured Over Residential Property In Auckland

      New Zealand Other

      0.0267%
    • Loan Secured Over Commercial Property In Waikato

      New Zealand Unlisted Property

      0.0259%
    • Loan Secured Over Commercial Property In Otago

      New Zealand Unlisted Property

      0.0252%
    • Loan Secured Over Rural Property In Hawkes Bay

      New Zealand Unlisted Property

      0.0233%
    • Loan Secured Over Residential Property In Auckland

      New Zealand Other

      0.0228%
    Type Target Actual
    Cash and Cash Equivalents 15.0% 14.29%
    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 85.0% 0.0%
    Commodities 0.0% 0.0%

    Investment Mix

    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 2025.

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 2025 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.

Issues of Concern

  • 0.0% Animal Cruelty
  • 0.0% Human Rights Violations
  • 0.0% Social Harm
  • 0.0% Fossil Fuels
  • 0.0% Weapons
  • 0.0% Environmental Harm

Companies of Concern

About this Fund

Midlands Smarter PIE Fund invests in a portfolio of loans secured by first mortgages over land and buildings in New Zealand and cash and cash equivalents held with registered banks. The investment objective of the Midlands Smarter PIE Fund is to provide investors with returns pre-tax (but after fees and expenses) which exceed the average 3 month term deposit rate advertised by all relevant New Zealand registered banks.

Value $131M NZD
Period of data report 31st March 2025
Fund started 1st Nov. 2004
Total annual fund fees 2.1%
Total performance based fees 0.0%
Manager's basic fee 1.78%
Other management and administration charges 0.32%
Total other charges 0.0
Total other charges currency NZD

Rhys Trusler

Currently: CHIEF EXECUTIVE OFFICER (2 years, 6 months)
Previously: Managing Partner, Southern Cross Partners (2 years, 0 months)

Chris Fenwick

Currently: CHIEF FINANCIAL OFFICER (0 years, 3 months)
Previously: Finance Adviser (2 years, 11 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.

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 12.48% 6.58%
2023 -4.05% 5.55%
2022 1.38% 4.3%
2021 27.68% 4.23%
2020 -4.45% 5.16%
2019 6.12% 5.25%
2018 8.66% 6.97%
2017 7.20% 4.69%
2016 5.40% 6.12%
2015 12.09% 5.09%

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 2025.

Top 10 Investments

  • Cash & Cash Equivalents Jarden

    New Zealand Cash and Equivalents

    0.0975%
  • Cash & Cash Equivalents ANZ

    New Zealand Cash and Equivalents AA-

    0.0454%
  • Loan Secured Over Commercial Property In Hawkes Bay

    New Zealand Unlisted Property

    0.035%
  • Loan Secured Over Residential Property In Auckland

    New Zealand Other

    0.0295%
  • Loan Secured Over Residential Property In Auckland

    New Zealand Other

    0.0289%
  • Loan Secured Over Residential Property In Auckland

    New Zealand Other

    0.0267%
  • Loan Secured Over Commercial Property In Waikato

    New Zealand Unlisted Property

    0.0259%
  • Loan Secured Over Commercial Property In Otago

    New Zealand Unlisted Property

    0.0252%
  • Loan Secured Over Rural Property In Hawkes Bay

    New Zealand Unlisted Property

    0.0233%
  • Loan Secured Over Residential Property In Auckland

    New Zealand Other

    0.0228%
Type Target Actual
Cash and Cash Equivalents 15.0% 14.29%
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 85.0% 0.0%
Commodities 0.0% 0.0%

Investment Mix

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 2025.