Westpac Moderate Trust

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Fund type: Balanced fund

Past Returns: 3.57%

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

Annual Fees: 0.96%

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

Contact Energy Ltd 0.63%
BHP Group Ltd 0.12%
Israel Electric Corp. Ltd. 6.875% 21-Jun-2023 0.07%
Sempra Energy 3.3% 01-Apr-2025 0.06%
Anglo American PLC C 0.05%
Public Service Enterprise Group Incorporated 0.841% 08-Nov-2023 0.04%
American Electric Power Company, Inc. 0.03%
Atmos Energy Corporation 0.03%
Consolidated Edison Company Of New York, Inc. 2.4% 15-Jun-2031 0.03%
Itochu Corporation 0.03%
Loews Corporation 0.03%
National Grid PLC 0.25% 01-Sep-2028 0.03%
Anglo American Capital PLC 4.0% 11-Sep-2027 0.02%
Anglo American Capital PLC 4.75% 21-Sep-2032 0.02%
China Longyuan Power Group Corporation Ltd Class H 0.02%
China Suntien Green Energy Corporation Limited Class H 0.02%
Ck Asset Holdings Limited 0.02%
Enel Finance International Nv 0.5% 17-Jun-2030 0.02%
Lg Corp 0.02%
National Grid PLC 0.02%
Nippon Yusen Kabushiki Kaisha 0.02%
Oci Nv 0.02%
Parkland Corporation 0.02%
Rwe AG 0.02%
Sempra Energy 0.02%
South32 Treasury Ltd. 4.35% 14-Apr-2032 0.02%
Southern Company 3.25% 01-Jul-2026 0.02%
Sumitomo Chemical Co., Ltd. 0.02%
Xcel Energy Inc. 4.0% 15-Jun-2028 0.02%
Anglo American Capital PLC 4.75% 10-Apr-2027 0.01%
Constellation Energy Corporation 0.01%
Enel Finance International Nv 2.25% 12-Jul-2031 0.01%
Iberdrola SA 0.01%
National Grid PLC 2.949% 30-Mar-2030 0.01%
Southern Company 0.01%

Weapons

Amphenol Corporation Class A 0.06%
Wal-Mart De Mexico Sab De Cv 0.06%
Chemring Group PLC 0.02%
Mtu Aero Engines AG 0.02%
Singapore Technologies Engineering Ltd 0.02%

Tobacco

Alimentation Couche-Tard Inc. 0.02%

Gambling

Sky City Entertainment Group 0.18%
Vici Properties Inc 0.06%
Aristocrat Leisure Ltd 0.03%
Greek Organisation Of Football Prognostics SA 0.02%
Las Vegas Sands Corp. 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%

Alcohol

Diageo PLC 0.13%
Pernod Ricard SA 0.08%
Heineken Nv 0.07%
Anheuser-Busch Inbev Worldwide, Inc. 3.5% 01-Jun-2030 0.03%
Anheuser-Busch Inbev Worldwide, Inc. 4.0% 13-Apr-2028 0.03%
Treasury Wine Estates Ltd 0.03%
Carlsberg As Class B 0.02%
Tsingtao Brewery Co., Ltd. Class H 0.02%
Anheuser-Busch Inbev SA/Nv 3.7% 02-Apr-2040 0.01%
Davide Campari-Milano N.V. 0.01%
Kweichow Moutai Co., Ltd. Class A 0.01%

Palm Oil

Human Rights & Environmental Violations

Thermo Fisher Scientific Inc. 0.16%
Nestle S.A. 0.14%
BHP Group Ltd 0.12%
Johnson & Johnson 0.11%
Nutrien Ltd 0.10%
Rio Tinto Ltd 0.09%
Bayer AG 0.08%
Credit Suisse Group AG 1.25% 17-Jul-2025 0.06%
Meta Platforms Inc. Class A 0.06%
Archer-Daniels-Midland Company 0.04%
Credit Suisse Group AG 2.875% 02-Apr-2032 0.04%
Thermo Fisher Scientific Inc. 0.125% 01-Mar-2025 0.04%
Bunge Limited 0.03%
Credit Suisse Group AG 6.537% 12-Aug-2033 0.03%
Meta Platforms, Inc. 4.45% 15-Aug-2052 0.03%
Meta Platforms, Inc. 4.65% 15-Aug-2062 0.03%
Barrick Gold Corporation 0.02%
Credit Suisse Group AG 9.75% Perp 0.02%
Freeport-Mcmoran, Inc. 0.02%
Credit Suisse Group AG 3.091% 14-May-2032 0.01%
Thermo Fisher Scientific (Finance I) Bv 0.8% 18-Oct-2030 0.01%

Animal Testing

LVMH Moet Hennessy Louis Vuitton Se 0.10%
Nutrien Ltd 0.10%
Colgate-Palmolive Company 0.09%
3M Company 0.08%
Bayer AG 0.08%
Compagnie Financiere Richemont SA 0.08%
Danone SA 0.08%
Pepsico, Inc. 0.08%
Procter & Gamble Company 0.08%
Air Liquide SA 0.06%
L'Oreal S.A. 0.06%
Essity Ab Class B 0.05%
International Flavors & Fragrances Inc. 0.05%
Mondelez International, Inc. 1.625% 08-Mar-2027 0.05%
Mosaic Company 0.05%
PPG Industries, Inc. 0.05%
Sherwin-Williams Company 0.05%
Archer-Daniels-Midland Company 0.04%
Coca-Cola Company 0.04%
Estee Lauder Companies Inc. Class A 0.04%
General Mills, Inc. 0.04%
Unilever PLC 0.04%
Akzo Nobel N.V. 0.03%
Burberry Group PLC 0.03%
Dow, Inc. 0.03%
International Flavors & Fragrances Inc. 1.23% 01-Oct-2025 0.03%
Kellogg Company 0.03%
Mondelez International, Inc. Class A 0.03%
Pepsico, Inc. 3.6% 18-Feb-2028 0.03%
Prada S.P.A. 0.03%
Ultrapar Participacoes S.A. Sponsored Adr 0.03%
Canon Inc. 0.02%
Daikin Industries, Ltd. 0.02%
Hermes International Sca 0.02%
Inner Mongolia Yili Industrial Group Co., Ltd. Class A 0.02%
Keurig Dr Pepper Inc. 4.5% 15-Apr-2052 0.02%
Kikkoman Corporation 0.02%
Kraft Heinz Company 0.02%
Ping An Insurance (Group) Company Of China, Ltd. Class H 0.02%
Sumitomo Chemical Co., Ltd. 0.02%
Symrise AG 0.02%
Tate & Lyle PLC 0.02%
Barry Callebaut AG 0.01%
Henkel AG & Co. Kgaa 0.01%
Lg H&H Co., Ltd. 0.01%
Sherwin-Williams Company 4.25% 08-Aug-2025 0.01%
T. Hasegawa Co., Ltd. 0.01%
Tesco PLC 0.01%
Tyson Foods, Inc. Class A 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 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 0.34% -1.42%
2021 17.46% 13.22%
2020 -1.59% -1.08%
2019 4.47% 4.72%
2018 4.41% 5.19%
2017 5.71% 3.57%
2016 3.06% 3.04%
2015 8.56% 9.15%
2014 6.13% 5.03%
2013 8.77% 7.84%

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:

  • US 5Yr Note
    United States Int Fixed Interest
    1.49%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    0.86%
  • US 10Yr Note
    United States Int Fixed Interest
    0.75%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    0.73%
  • Mainfreight Ltd
    New Zealand Australasian Equities
    0.71%
  • Ebos Group Ltd
    New Zealand Australasian Equities
    0.7%
  • Infratil Ltd
    New Zealand Australasian Equities
    0.68%
  • Contact Energy Ltd
    New Zealand Australasian Equities
    0.63%
  • Euro Schatz Future
    Germany Int Fixed Interest
    0.61%
  • Auckland International Airport Ltd
    New Zealand Australasian Equities
    0.59%

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 8.0% 12.98%
New Zealand Fixed Interest 21.0% 21.56%
International Fixed Interest 31.0% 28.97%
Australasian Equities 12.0% 11.38%
International Equities 24.0% 21.27%
Listed Properties 4.0% 3.84%
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:
    0.46%
  • Animal Testing:
    2.06%
  • Fossil Fuels:
    1.67%
  • Gambling:
    0.39%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    1.31%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.02%
  • Weapons:
    0.18%

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 Moderate Trust aims to provide moderate returns over the medium term. The fund has a higher benchmark 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 $520M NZD
Period of data report Fri Sept. 30th 2022
Fund started Wed Feb. 8th 2012
Total annual fund fees 0.96%
Total performance based fees 0.0%
Manager's basic fee 0.93%
Other management and administration charges 0.03%
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, 2 months)
Previously: Head of Investments (1 years, 6 months)

Philip Houghton-Brown

Currently: Head of Investment Solutions (2 years, 0 months)
Previously: Chief Investment Officer / Head of Investments, Mercer (8 years, 2 months)

Francois Richeboeuf

Currently: Senior Manager (11 years, 11 months)
Previously: Acting Head of Investment Solutions (0 years, 8 months)

Stephen Hong

Currently: Senior Portfolio Manager (10 years, 0 months)
Previously: Portfolio Manager, AXA Global Investors (5 years, 9 months)

Angelika Sansom

Currently: Investment Analytics Manager (21 years, 1 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 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.