QuayStreet Income Fund

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Fund type: Defensive fund

Past Returns: 2.21%

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

Annual Fees: 0.76%

Annual fees, including management and administration fees, but not membership 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

Channel Infrastructure NZ (May 2027) 1.66%
Contact Energy 0.49%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 2022 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.

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
2022 -2.19% 0.26%
2021 1.34% 6.4%
2020 1.00% -0.04%
2019 2.36% 5.37%
2018 1.94% 2.98%
2017 1.52% 4.38%
2016 2.91% 4.47%

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 Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • Australian Gas Networks Inflation Linked (Aug 2025)
    Australia Int Fixed Interest AA
    4.62%
  • NZ Govt Inflation Linked (Sep 2030)
    New Zealand NZ Fixed Interest AAA
    3.74%
  • Seek Subordinated Notes (June 2026)
    Australia Int Fixed Interest
    3.62%
  • Kiwibank (Oct 2027)
    New Zealand NZ Fixed Interest A+
    3.3%
  • NZ Govt Inflation Linked (Sep 2035)
    New Zealand NZ Fixed Interest AAA
    3.29%
  • Apt Pipelines (March 2025)
    Australia Int Fixed Interest BBB
    2.91%
  • Macqaurie Group (Aug 2026)
    Australia Int Fixed Interest BBB+
    2.87%
  • Sydney Airport Inflation Linked (Nov 2030)
    Australia Int Fixed Interest BBB+
    2.82%
  • Goodman Property Trust (Sep 2028)
    New Zealand NZ Fixed Interest BBB+
    2.37%
  • Ausnet Subordinated Notes (Jun 2080)
    Australia Int Fixed Interest BBB-
    2.36%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Fri Sept. 30th 2022.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 10.0% 3.54%
New Zealand Fixed Interest 35.0% 38.53%
International Fixed Interest 35.0% 52.03%
Australasian Equities 10.0% 1.67%
International Equities 0.0% 0.0%
Listed Properties 10.0% 4.23%
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 Fri Sept. 30th 2022.

Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.00%
  • Animal Testing:
    0.00%
  • Fossil Fuels:
    2.15%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.00%
  • 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 Fri Sept. 30th 2022 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 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. Similarly Mindful Money uses a broader scope for fossil fuels than the government’s rules for default KiwiSaver funds. The full definitions used in the Mindful Money analysis are here.

In their own words

"The QuayStreet Income Fund will invest in a diversified portfolio with an emphasis on income producing assets such as New Zealand and International fixed interest investments and derivatives. The Fund may include an allocation to growth assets such as listed property and equity securities. The investment objective is to provide a level of return above the Fund’s benchmark over the long term, while preserving the real value of investments relative to inflation. The Fund aims to make quarterly distributions."

Value $300M NZD
Period of data report Fri Sept. 30th 2022
Fund started Tue Sept. 30th 2014
Total annual fund fees 0.76%
Total performance based fees 0.0%
Manager's basic fee 0.65%
Other management and administration charges 0.11%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Andrew South

Currently: Director/ Chief Investment Officer (1 years, 2 months)
Previously: Investment Manager Australasian Equities, QuayStreet Asset Management Limited (7 years, 1 months)

Roy Cross

Currently: Head of Fixed Interest (1 years, 2 months)
Previously: Senior Analyst, QuayStreet Asset Management Limited (7 years, 1 months)

Stefan Stevanovic

Currently: Head of International Equity (1 years, 2 months)
Previously: Senior Analyst, QuayStreet Asset Management Limited (7 years, 1 months)

Xavier Waterstone

Currently: Head of Research (1 years, 2 months)
Previously: Senior Analyst, QuayStreet Asset Management Limited (2 years, 11 months)

Craig Smith

Currently: Fixed Income Analyst (1 years, 2 months)
Previously: Senior Analyst, Melville Douglas Investment Management (5 years, 11 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 2022.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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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.