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.


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

Companies of concern

    • Thermo Fisher Scientific 0.82%
    • Thermo Fisher Scientific Inc 0.27%
    • Pg&E Corp 0.22%
    • Ecolab Inc 0.76%
    • Symrise AG 0.51%
    • Air Liquide SA 0.34%
    • Estee Lauder Co Inc 0.21%
    • Unilever PLC 0.21%
    • Contact Energy Ltd 2.71% 1.5°C
      This company is on a 1.5°C pathway
    • Iberdrola SA 0.68% 1.5°C
      This company is on a 1.5°C pathway
    • Nextera Energy Inc 0.55%
    • Pg&E Corp 0.22%
    • Nextera Energy Partners Lp 0.15%

Fund Provider Response

Instead of beginning with a list of negative exclusions, the Fund’s selection process starts by identifying companies that are making a positive impact, defined as making a contribution to at least one of the UN Sustainable Development Goals.
The team subjects potential investments to a ‘do no significant harm’ test. At times assessments differ from third-party screens such as that used by Mindful Money. The Harbour Sustainable Impact Fund provides full transparency, describing the impact rationale for each holding, and any controversial holdings, in its annual impact report, found on Harbour Asset Management’s website.

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. 2023 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

The Fund is designed to provide investors with exposure to a diversified range of global and domestic investments which make a positive environmental or social impact while aiming to exceed the return benchmark. All investments assessed against the United Nations Sustainable Development Goals (SDGs). The Fund invests approximately 60% invested in growth assets such as impact global and domestic public and private equities and approximately 40% into more defensive assets, predominantly impact and green bonds that meet our research criteria. The Manager will use active management to enhance returns and manage downside risks.

Founded in Wellington in 2009, Harbour Asset Management is one of New Zealand’s most highly rated investment managers. We take pride in delivering market-leading investment outcomes for our clients. Harbour’s approach to investing is simple: all of our investment decisions must be backed by research. Sustainability is an integral part of both our investment process and our team values. Harbour is a market leader for integrating ESG research into our investment process, and we have been signatories to the UN Principles of Responsible Investment since August 2010.

Value $6.97M NZD
Period of data report 31st Dec. 2023
Fund started 30th Nov. 2021
Total annual fund fees 1.33%
Total performance based fees 0.0%
Manager's basic fee 0.9%
Other management and administration charges 0.43%
Total other charges 0.0
Total other charges currency NZD

Simon Pannett

Currently: Director, Senior Credit Analyst (10 years, 5 months)
Previously: Investment Solutions, UK Investment Analyst (2 years, 4 months)

Chris Di Leva

Currently: Director, Portfolio Manager (5 years, 3 months)
Previously: Mercer (8 years, 0 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.

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
2023 -4.94% -2.29%

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. 2023.

Top 10 Investments

  • Mirova Global Sustainable Equity Fund
    United States International Equities
  • T.Rowe Price Global Impact Equity Fund
    United States International Equities
  • Spark Finance Limited 29/09/2028 4.37%
    New Zealand NZ Fixed Interest A-
  • CSL
    Australia Australasian Equities
  • Contact Energy Limited
    New Zealand Australasian Equities
  • Macquarie Group Limited
    Australia Australasian Equities
  • Idp Education Limited
    Australia Australasian Equities
  • Gmt Bond Issuer Ltd 14/04/2027 4.74%
    New Zealand NZ Fixed Interest BBB+
  • International Bank Recon & Dev 30/11/2026 2.875%
    New Zealand NZ Fixed Interest AAA
  • Precinct Property NZ Ltd 09/05/28 5.25%
    New Zealand NZ Fixed Interest
Type Target Actual
Cash and Cash Equivalents 5.0% 1.87%
New Zealand Fixed Interest 25.0% 40.91%
International Fixed Interest 0.0% 1.28%
Australasian Equities 30.0% 20.75%
International Equities 30.0% 33.61%
Listed Properties 10.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 1.58%
Commodities 0.0% 0.0%

Investment Mix

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

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.