Funds

Westpac Conservative Trust

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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:

  • Adult Entertainment/Pornography
  • Alcohol
  • Animal Cruelty
  • Fossil Fuels
  • Gambling
  • GMOs
  • Human Rights & Environmental Violations
  • Palm Oil
  • Tobacco
  • Weapons

Companies of concern

  • Fossil Fuel

    • Contact Energy Ltd 0.31%
    • Israel Electric Corp. Ltd. 6.875% 21-Jun-2023 0.08%
    • Sempra Energy 3.3% 01-Apr-2025 0.07%
    • BHP Group Ltd 0.06%
    • Consolidated Edison Company Of New York, Inc. 2.4% 15-Jun-2031 0.04%
    • National Grid PLC 0.25% 01-Sep-2028 0.04%
    • Public Service Enterprise Group Incorporated 0.841% 08-Nov-2023 0.04%
    • Southern Company 3.25% 01-Jul-2026 0.03%
    • Anglo American Capital PLC 4.0% 11-Sep-2027 0.02%
    • Anglo American Capital PLC 4.75% 10-Apr-2027 0.02%
    • Anglo American Capital PLC 4.75% 21-Sep-2032 0.02%
    • Anglo American PLC C 0.02%
    • Enel Finance International Nv 0.5% 17-Jun-2030 0.02%
    • South32 Treasury Ltd. 4.35% 14-Apr-2032 0.02%
    • Xcel Energy Inc. 4.0% 15-Jun-2028 0.02%
    • American Electric Power Company, Inc. 0.01%
    • Anglo American Capital PLC 2.875% 17-Mar-2031 0.01%
    • Atmos Energy Corporation 0.01%
    • Ck Asset Holdings Limited 0.01%
    • Enel Finance International Nv 2.25% 12-Jul-2031 0.01%
    • Itochu Corporation 0.01%
    • Loews Corporation 0.01%
    • National Grid PLC 2.949% 30-Mar-2030 0.01%
    • Parkland Corporation 0.01%
    • Sumitomo Chemical Co., Ltd. 0.01%

  • Weapons

    • Amphenol Corporation Class A 0.03%
    • Wal-Mart De Mexico Sab De Cv 0.03%

  • Gambling

    • Sky City Entertainment Group 0.09%
    • Vici Properties Inc 0.03%
    • Aristocrat Leisure Ltd 0.02%
    • Vici Properties Lp 4.95% 15-Feb-2030 0.02%
    • Vici Properties Lp 5.125% 15-May-2032 0.02%
    • Vici Properties Lp 5.625% 15-May-2052 0.02%
    • Greek Organisation Of Football Prognostics SA 0.01%

  • Alcohol

    • Diageo PLC 0.06%
    • Anheuser-Busch Inbev Worldwide, Inc. 4.0% 13-Apr-2028 0.04%
    • Pernod Ricard SA 0.04%
    • Anheuser-Busch Inbev Worldwide, Inc. 3.5% 01-Jun-2030 0.03%
    • Heineken Nv 0.03%
    • Anheuser-Busch Inbev SA/Nv 3.7% 02-Apr-2040 0.02%
    • Treasury Wine Estates Ltd 0.02%
    • Carlsberg As Class B 0.01%

  • Human Rights & Environmental Violations

    • Thermo Fisher Scientific Inc. 0.08%
    • Credit Suisse Group AG 1.25% 17-Jul-2025 0.07%
    • Nestle S.A. 0.07%
    • BHP Group Ltd 0.06%
    • Johnson & Johnson 0.05%
    • Nutrien Ltd 0.05%
    • Rio Tinto Ltd 0.05%
    • Thermo Fisher Scientific Inc. 0.125% 01-Mar-2025 0.05%
    • Bayer AG 0.04%
    • Credit Suisse Group AG 2.875% 02-Apr-2032 0.04%
    • Meta Platforms, Inc. 4.45% 15-Aug-2052 0.04%
    • Credit Suisse Group AG 6.537% 12-Aug-2033 0.03%
    • Meta Platforms Inc. Class A 0.03%
    • Meta Platforms, Inc. 4.65% 15-Aug-2062 0.03%
    • Archer-Daniels-Midland Company 0.02%
    • Credit Suisse Group AG 3.091% 14-May-2032 0.02%
    • Credit Suisse Group AG 9.75% Perp 0.02%
    • Bunge Limited 0.01%
    • Freeport-Mcmoran, Inc. 0.01%
    • Thermo Fisher Scientific (Finance I) Bv 0.8% 18-Oct-2030 0.01%

  • Animal Cruelty

    • LVMH Moet Hennessy Louis Vuitton Se 0.05%
    • Mondelez International, Inc. 1.625% 08-Mar-2027 0.05%
    • Nutrien Ltd 0.05%
    • 3M Company 0.04%
    • Bayer AG 0.04%
    • Colgate-Palmolive Company 0.04%
    • Compagnie Financiere Richemont SA 0.04%
    • Danone SA 0.04%
    • Pepsico, Inc. 0.04%
    • Procter & Gamble Company 0.04%
    • Air Liquide SA 0.03%
    • Essity Ab Class B 0.03%
    • International Flavors & Fragrances Inc. 1.23% 01-Oct-2025 0.03%
    • Keurig Dr Pepper Inc. 4.5% 15-Apr-2052 0.03%
    • L'Oreal S.A. 0.03%
    • Pepsico, Inc. 3.6% 18-Feb-2028 0.03%
    • Archer-Daniels-Midland Company 0.02%
    • Coca-Cola Company 0.02%
    • Estee Lauder Companies Inc. Class A 0.02%
    • General Mills, Inc. 0.02%
    • International Flavors & Fragrances Inc. 0.02%
    • Mosaic Company 0.02%
    • PPG Industries, Inc. 0.02%
    • Sherwin-Williams Company 0.02%
    • Sherwin-Williams Company 4.25% 08-Aug-2025 0.02%
    • Unilever PLC 0.02%
    • Akzo Nobel N.V. 0.01%
    • Burberry Group PLC 0.01%
    • Dow, Inc. 0.01%
    • Kellogg Company 0.01%
    • Mondelez International, Inc. Class A 0.01%
    • Prada S.P.A. 0.01%
    • Sumitomo Chemical Co., Ltd. 0.01%
    • Ultrapar Participacoes S.A. Sponsored Adr 0.01%

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. 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.

About this fund

In their own words

The Conservative Trust aims to provide stable returns over the short to medium term. The fund invests primarily in income assets but also has an allocation to growth assets. Volatility is expected to be higher than the Income Strategies Trust but lower than the Moderate Trust in the Westpac Active Series.

Value $160M NZD
Period of data report 31st Dec. 2022
Fund started 1st Aug. 1992
Total annual fund fees 0.92%
Total performance based fees 0.0%
Manager's basic fee 0.9%
Other management and administration charges 0.02%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Nigel Jackson

Currently: Chief Executive Officer – BT Funds Management (NZ) Limited (0 years, 5 months)
Previously: Head of Investments (1 years, 6 months)

Philip Houghton-Brown

Currently: Head of Investment Solutions (2 years, 3 months)
Previously: Chief Investment Officer / Head of Investments, Mercer (8 years, 2 months)

Francois Richeboeuf

Currently: Senior Manager (12 years, 2 months)
Previously: Acting Head of Investment Solutions (0 years, 8 months)

Stephen Hong

Currently: Senior Portfolio Manager (10 years, 3 months)
Previously: Portfolio Manager, AXA Global Investors (5 years, 9 months)

Angelika Sansom

Currently: Investment Analytics Manager (21 years, 4 months)
Previously: Investment Consultant, Mercer (2 years, 4 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.

Investment Exclusions

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 0.26%
Animal Cruelty 1.08%
Fossil Fuels 1.09%
Gambling 0.22%
GMOs 0.00%
Human Rights & Environmental Violations 0.83%
Palm Oil 0.00%
Tobacco 0.01%
Weapons 0.09%

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. 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.

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
2022 -0.26% -1.91%
2021 8.99% 7.22%
2020 0.27% 0.15%
2019 4.19% 3.67%
2018 3.39% 3.55%
2017 3.28% 2.46%
2016 2.92% 2.6%
2015 8.63% 6.85%
2014 5.69% 3.35%
2013 8.30% 6.23%

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 Dec. 2022.

Top 10 Investments

  • US 5Yr Note
    United States Int Fixed Interest
    0.84%
  • Euro Schatz Future
    Germany Int Fixed Interest
    0.79%
  • NZ Government Inflation Index Bond 2% 20/09/2025
    New Zealand NZ Fixed Interest AAA
    0.58%
  • NZ Government Bond 3.5% 14/04/2033
    New Zealand NZ Fixed Interest AAA
    0.56%
  • S&P500 E-Mini Future
    United States International Equities
    0.52%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    0.5%
  • NZ Government Bond 3% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    0.48%
  • Government Of Japan 0.1% 20-Dec-2026
    Japan Int Fixed Interest A+
    0.47%
  • NZ Government Inflation Index Bond 2.5% 20/09/2035
    New Zealand NZ Fixed Interest AAA
    0.47%
  • US 2Yr Note
    United States Int Fixed Interest
    0.46%
Type Target Actual
Cash and Cash Equivalents 15.0% 18.42%
New Zealand Fixed Interest 29.0% 29.06%
International Fixed Interest 36.0% 34.43%
Australasian Equities 6.0% 5.87%
International Equities 12.0% 10.29%
Listed Properties 2.0% 1.93%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

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 31st Dec. 2022.