Funds

Westpac Moderate Trust

Total Ethical Concerns: 6.10%

The average total concerns of all managed balanced funds is 8.32%.

Companies of Concern

  • Animal Cruelty 1.22%

    • Ecolab, Inc.
      0.15%
      0.15%
    • Unilever PLC
      0.14%
      0.14%
    • 0.10%
    • Colgate-Palmolive Co.
      0.07%
      0.07%
    • Koninklijke Ahold Delhaize Nv
      0.07%
      0.07%
    • 3M
      0.06%
      0.06%
    • Kimberly-Clark Corp.
      0.06%
      0.06%
    • Air Liquide
      0.05%
      0.05%
    • Orbia Advance Corp. Sab De Cv
      0.05%
      0.05%
    • PPG Industries, Inc.
      0.05%
      0.05%
    • Henkel AG & Co. Kgaa
      0.04%
      0.04%
    • Orica Ltd.
      0.04%
      0.04%
    • Symrise AG
      0.04%
      0.04%
    • The Sherwin-Williams Co.
      0.04%
      0.04%
    • Eidp Inc
      0.03%
      0.03%
    • Givaudan SA
      0.03%
      0.03%
    • Cabot Corp.
      0.02%
      0.02%
    • Celanese US Holdings Llc
      0.02%
      0.02%
    • Hermès International Sca
      0.02%
      0.02%
    • L'Oréal SA
      0.02%
      0.02%
    • Prada Spa
      0.02%
      0.02%
    • Church & Dwight Co., Inc.
      0.01%
      0.01%
  • Human Rights Violations 1.47%

    • 0.47%
    • Rio Tinto
      0.23%
      0.23%
    • Wells Fargo
      0.13%
      0.13%
    • Glencore
      0.10%
      0.10%
    • Ubs
      0.10%
      0.10%
    • 0.09%
    • Caterpillar
      0.04%
      0.04%
    • Nestlé
      0.04%
      0.04%
    • 0.03%
    • Ck Hutchison
      0.02%
      0.02%
    • General Motors
      0.02%
      0.02%
    • Holcim
      0.02%
      0.02%
    • Mtn Group Limited
      0.01%
      0.01%
  • Social Harm 0.33%

  • Fossil Fuels 2.5%

    • Contact Energy Ltd.
      0.73%
      1.5°C
      This company is on a 1.5°C pathway
      0.73%
    • 0.30%
    • BHP
      0.23%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.23%
    • Rio Tinto
      0.23%
      0.23%
    • Nextera Energy, Inc.
      0.11%
      0.11%
    • Glencore
      0.10%
      0.10%
    • Engie SA
      0.08%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.08%
    • Consolidated Edison, Inc.
      0.07%
      0.07%
    • Enel
      0.07%
      1.5°C
      This company is on a 1.5°C pathway
      0.07%
    • National Grid PLC
      0.07%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.07%
    • Itochu Corp.
      0.05%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.05%
    • Orica Ltd.
      0.04%
      0.04%
    • Constellation Energy Corp.
      0.03%
      0.03%
    • Duke Energy Corp
      0.03%
      0.03%
    • Edp Finance Bv
      0.03%
      1.5°C
      This company is on a 1.5°C pathway
      0.03%
    • Nisource, Inc.
      0.03%
      0.03%
    • Samsung C&T Corp.
      0.03%
      0.03%
    • Xcel Energy, Inc.
      0.03%
      0.03%
    • Électricité De France SA
      0.03%
      0.03%
    • Ck Hutchison
      0.02%
      0.02%
    • Endesa SA
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • Vistra Energy
      0.02%
      0.02%
    • American Electric Power Co., Inc.
      0.01%
      0.01%
    • China Longyuan Power Group Corp. Ltd.
      0.01%
      0.01%
    • Dte Energy Co.
      0.01%
      0.01%
    • Hd Hyundai Co., Ltd.
      0.01%
      0.01%
    • Ppl Corp.
      0.01%
      0.01%
    • The Southern Co.
      0.01%
      0.01%
  • Weapons 0.23%

    • Howmet Aerospace, Inc.
      0.08%
      0.08%
    • Amphenol Corp.
      0.05%
      0.05%
    • 0.05%
    • Transdigm Group, Inc.
      0.02%
      0.02%
    • Embraer SA
      0.01%
      0.01%
  • Environmental Harm 1.36%

    • Fonterra
      0.40%
      0.40%
    • BHP
      0.23%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.23%
    • Unilever PLC
      0.14%
      0.14%
    • Coca-Cola
      0.10%
      0.10%
    • Glencore
      0.10%
      0.10%
    • 0.08%
    • 3M
      0.06%
      0.06%
    • Mondelez
      0.04%
      0.04%
    • Duke Energy Corp
      0.03%
      0.03%
    • Eidp Inc
      0.03%
      0.03%
    • Pepsico
      0.03%
      0.03%
    • Bunge
      0.02%
      0.02%
    • 0.02%
    • Wh Group
      0.02%
      0.02%
    • United Plantations Bhd.
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    About this Fund

    The Moderate Trust aims to provide moderate returns over the medium term. The fund has a higher target allocation to income assets than to growth assets. Volatility is expected to be higher than the Conservative Trust but lower than the Balanced Trust in the Westpac Active Series.

    Value $392M NZD
    Period of data report 31st March 2025
    Fund started 8th Feb. 2012
    Total annual fund fees 0.71%
    Total performance based fees 0.0%
    Manager's basic fee 0.71%
    Other management and administration charges 0.0%
    Total other charges 0.0
    Total other charges currency NZD

    Nigel Jackson

    Currently: Chief Executive Officer – BT Funds Management (NZ) Limited (2 years, 8 months)
    Previously: Head of Investments (1 years, 6 months)

    Philip Houghton-Brown

    Currently: Head of Investment Solutions (4 years, 6 months)
    Previously: Chief Investment Officer / Head of Investments, Mercer (8 years, 2 months)

    Andrew Winter

    Currently: Portfolio Manager Diversified Funds (1 years, 2 months)
    Previously: Implementation Portfolio Manager (3 years, 5 months)

    Stephen Hong

    Currently: Senior Portfolio Manager (12 years, 6 months)
    Previously: Portfolio Manager, AXA Global Investors (5 years, 9 months)

    Angelika Sansom

    Currently: Investment Analytics Manager (23 years, 7 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 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
    2025 4.02% 4.23%
    2024 9.97% 8.16%
    2023 -2.59% -2.26%
    2022 1.06% -1.42%
    2021 18.16% 13.22%
    2020 -1.83% -1.08%
    2019 4.49% 4.72%
    2018 4.41% 5.19%
    2017 5.71% 3.57%
    2016 3.06% 3.04%

    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

    • Fisher & Paykel Healthcare Ltd

      New Zealand Australasian Equities

      1.25%
    • Nvidia Corporation

      United States International Equities

      1.01%
    • Microsoft Corporation

      United States International Equities

      1.01%
    • NZ Government Bond 4.25% 15/05/2034

      New Zealand NZ Fixed Interest AAA

      0.99%
    • US 5Yr Note

      United States Int Fixed Interest AA+

      0.99%
    • NZ Government Bond 4.5% 15/05/2035

      New Zealand NZ Fixed Interest AAA

      0.98%
    • NZ Government Bond 5% 15/05/2054

      New Zealand NZ Fixed Interest AAA

      0.92%
    • Apple Inc.

      United States International Equities

      0.89%
    • US Long Bond Future

      United States Int Fixed Interest AA+

      0.85%
    • US 2Yr Note

      United States Int Fixed Interest AA+

      0.83%
    Type Target Actual
    Cash and Cash Equivalents 8.0% 7.88%
    New Zealand Fixed Interest 21.0% 21.53%
    International Fixed Interest 31.0% 31.66%
    Australasian Equities 11.0% 10.72%
    International Equities 26.0% 24.79%
    Listed Properties 3.0% 3.42%
    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 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

  • 1.22% Animal Cruelty
  • 1.47% Human Rights Violations
  • 0.33% Social Harm
  • 2.5% Fossil Fuels
  • 0.23% Weapons
  • 1.36% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • Ecolab, Inc.
      0.15%
      0.15%
    • Unilever PLC
      0.14%
      0.14%
    • 0.10%
    • Colgate-Palmolive Co.
      0.07%
      0.07%
    • Koninklijke Ahold Delhaize Nv
      0.07%
      0.07%
    • 3M
      0.06%
      0.06%
    • Kimberly-Clark Corp.
      0.06%
      0.06%
    • Air Liquide
      0.05%
      0.05%
    • Orbia Advance Corp. Sab De Cv
      0.05%
      0.05%
    • PPG Industries, Inc.
      0.05%
      0.05%
    • Henkel AG & Co. Kgaa
      0.04%
      0.04%
    • Orica Ltd.
      0.04%
      0.04%
    • Symrise AG
      0.04%
      0.04%
    • The Sherwin-Williams Co.
      0.04%
      0.04%
    • Eidp Inc
      0.03%
      0.03%
    • Givaudan SA
      0.03%
      0.03%
    • Cabot Corp.
      0.02%
      0.02%
    • Celanese US Holdings Llc
      0.02%
      0.02%
    • Hermès International Sca
      0.02%
      0.02%
    • L'Oréal SA
      0.02%
      0.02%
    • Prada Spa
      0.02%
      0.02%
    • Church & Dwight Co., Inc.
      0.01%
      0.01%
  • Human Rights Violations

    • 0.47%
    • Rio Tinto
      0.23%
      0.23%
    • Wells Fargo
      0.13%
      0.13%
    • Glencore
      0.10%
      0.10%
    • Ubs
      0.10%
      0.10%
    • 0.09%
    • Caterpillar
      0.04%
      0.04%
    • Nestlé
      0.04%
      0.04%
    • 0.03%
    • Ck Hutchison
      0.02%
      0.02%
    • General Motors
      0.02%
      0.02%
    • Holcim
      0.02%
      0.02%
    • Mtn Group Limited
      0.01%
      0.01%
  • Fossil Fuels

    • Contact Energy Ltd.
      0.73%
      1.5°C
      This company is on a 1.5°C pathway
      0.73%
    • 0.30%
    • BHP
      0.23%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.23%
    • Rio Tinto
      0.23%
      0.23%
    • Nextera Energy, Inc.
      0.11%
      0.11%
    • Glencore
      0.10%
      0.10%
    • Engie SA
      0.08%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.08%
    • Consolidated Edison, Inc.
      0.07%
      0.07%
    • Enel
      0.07%
      1.5°C
      This company is on a 1.5°C pathway
      0.07%
    • National Grid PLC
      0.07%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.07%
    • Itochu Corp.
      0.05%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.05%
    • Orica Ltd.
      0.04%
      0.04%
    • Constellation Energy Corp.
      0.03%
      0.03%
    • Duke Energy Corp
      0.03%
      0.03%
    • Edp Finance Bv
      0.03%
      1.5°C
      This company is on a 1.5°C pathway
      0.03%
    • Nisource, Inc.
      0.03%
      0.03%
    • Samsung C&T Corp.
      0.03%
      0.03%
    • Xcel Energy, Inc.
      0.03%
      0.03%
    • Électricité De France SA
      0.03%
      0.03%
    • Ck Hutchison
      0.02%
      0.02%
    • Endesa SA
      0.02%
      1.5°C
      This company is on a 1.5°C pathway
      0.02%
    • Vistra Energy
      0.02%
      0.02%
    • American Electric Power Co., Inc.
      0.01%
      0.01%
    • China Longyuan Power Group Corp. Ltd.
      0.01%
      0.01%
    • Dte Energy Co.
      0.01%
      0.01%
    • Hd Hyundai Co., Ltd.
      0.01%
      0.01%
    • Ppl Corp.
      0.01%
      0.01%
    • The Southern Co.
      0.01%
      0.01%
  • Weapons

    • Howmet Aerospace, Inc.
      0.08%
      0.08%
    • Amphenol Corp.
      0.05%
      0.05%
    • 0.05%
    • Transdigm Group, Inc.
      0.02%
      0.02%
    • Embraer SA
      0.01%
      0.01%
  • Environmental Harm

    • Fonterra
      0.40%
      0.40%
    • BHP
      0.23%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.23%
    • Unilever PLC
      0.14%
      0.14%
    • Coca-Cola
      0.10%
      0.10%
    • Glencore
      0.10%
      0.10%
    • 0.08%
    • 3M
      0.06%
      0.06%
    • Mondelez
      0.04%
      0.04%
    • Duke Energy Corp
      0.03%
      0.03%
    • Eidp Inc
      0.03%
      0.03%
    • Pepsico
      0.03%
      0.03%
    • Bunge
      0.02%
      0.02%
    • 0.02%
    • Wh Group
      0.02%
      0.02%
    • United Plantations Bhd.
      0.01%
      0.01%

About this Fund

The Moderate Trust aims to provide moderate returns over the medium term. The fund has a higher target allocation to income assets than to growth assets. Volatility is expected to be higher than the Conservative Trust but lower than the Balanced Trust in the Westpac Active Series.

Value $392M NZD
Period of data report 31st March 2025
Fund started 8th Feb. 2012
Total annual fund fees 0.71%
Total performance based fees 0.0%
Manager's basic fee 0.71%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Nigel Jackson

Currently: Chief Executive Officer – BT Funds Management (NZ) Limited (2 years, 8 months)
Previously: Head of Investments (1 years, 6 months)

Philip Houghton-Brown

Currently: Head of Investment Solutions (4 years, 6 months)
Previously: Chief Investment Officer / Head of Investments, Mercer (8 years, 2 months)

Andrew Winter

Currently: Portfolio Manager Diversified Funds (1 years, 2 months)
Previously: Implementation Portfolio Manager (3 years, 5 months)

Stephen Hong

Currently: Senior Portfolio Manager (12 years, 6 months)
Previously: Portfolio Manager, AXA Global Investors (5 years, 9 months)

Angelika Sansom

Currently: Investment Analytics Manager (23 years, 7 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 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
2025 4.02% 4.23%
2024 9.97% 8.16%
2023 -2.59% -2.26%
2022 1.06% -1.42%
2021 18.16% 13.22%
2020 -1.83% -1.08%
2019 4.49% 4.72%
2018 4.41% 5.19%
2017 5.71% 3.57%
2016 3.06% 3.04%

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

  • Fisher & Paykel Healthcare Ltd

    New Zealand Australasian Equities

    1.25%
  • Nvidia Corporation

    United States International Equities

    1.01%
  • Microsoft Corporation

    United States International Equities

    1.01%
  • NZ Government Bond 4.25% 15/05/2034

    New Zealand NZ Fixed Interest AAA

    0.99%
  • US 5Yr Note

    United States Int Fixed Interest AA+

    0.99%
  • NZ Government Bond 4.5% 15/05/2035

    New Zealand NZ Fixed Interest AAA

    0.98%
  • NZ Government Bond 5% 15/05/2054

    New Zealand NZ Fixed Interest AAA

    0.92%
  • Apple Inc.

    United States International Equities

    0.89%
  • US Long Bond Future

    United States Int Fixed Interest AA+

    0.85%
  • US 2Yr Note

    United States Int Fixed Interest AA+

    0.83%
Type Target Actual
Cash and Cash Equivalents 8.0% 7.88%
New Zealand Fixed Interest 21.0% 21.53%
International Fixed Interest 31.0% 31.66%
Australasian Equities 11.0% 10.72%
International Equities 26.0% 24.79%
Listed Properties 3.0% 3.42%
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 by asset type.

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