BNZ Private Wealth Series International Fixed Interest Fund

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Fund type: Defensive fund

Past Returns: 0.99%

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

Annual Fees: 0.59%

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

Apt Pipelines Ltd 4.25% 15/07/2027 0.19%
Apt Pipelines Ltd Medium Term Note 1.25% 15/03/2033 0.51%
Kinder Morgan Energy Partners Lp 5% 01/03/2043 0.27%
Williams Companies Inc 3.5% 15/10/2051 0.15%
Williams Companies Inc 4.85% 01/03/2048 0.17%

Alcohol

Anheuser Busch Inbev SA Medium Term Note 3.7% 02/04/2040 0.20%
Anheuser-Busch Companies Llc 4.9% 01/02/2046 0.11%
Anheuser-Busch Inbev Finance Inc 4.7% 01/02/2036 0.29%
Anheuser-Busch Inbev Worldwide Inc 5.45% 23/01/2039 0.39%
Bacardi Ltd 4.45% 15/05/2025 0.18%
Bacardi Ltd 5.3% 15/05/2048 0.28%

Human Rights & Environmental Violations

Credit Suisse Group AG 3.091% 14/05/2032 0.48%
Credit Suisse Group AG 4.194% 01/04/2031 0.13%

Animal Testing

Danone SA 1% 00/01/1900 0.17%
Glaxosmithkline Capital PLC Medium Term Note 0% 23/09/2023 0.52%
Kraft Heinz Foods Co 4.375% 01/06/2046 0.08%
Kraft Heinz Foods Company 4.125% 01/07/2027 0.29%
Kraft Heinz Foods Company 4.875% 01/10/2049 0.11%
Tesco Property Finance 1 PLC 7.6227% 13/07/2039 0.08%
Tesco Property Finance 2 PLC 6.0517% 13/10/2039 0.23%
Tesco Property Finance 3 PLC 5.744% 13/04/2040 0.33%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Thu March 31st 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.

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% -3.93%
2021 1.34% 4.32%
2020 1.00% 2.58%
2019 2.36% 2.08%
2018 1.94% 2.41%

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 Thu March 31st 2022.

Showing the top 10 investments for this fund:

  • United States Treasury 0.375% 30/09/2027
    United States Int Fixed Interest
    1.82%
  • BNP Paribas Bank Account USD
    United States Cash and Equivalents A+
    1.69%
  • Bank Of America Corp Medium Term Note 2.651% 11/03/2032
    United States Int Fixed Interest A-
    1.34%
  • BNP Paribas Bank Account NZD
    New Zealand Cash and Equivalents A+
    0.85%
  • E.On International Finance Bv Medium Term Note 6.25% 03/06/2030
    Netherlands Int Fixed Interest BBB
    0.84%
  • Danske Bank A/S 1.549% 10/09/2027
    Denmark Int Fixed Interest A
    0.76%
  • Carrier Global Corp 2.722% 15/02/2030
    United States Int Fixed Interest BBB
    0.65%
  • Stedin Holding Nv 1.5% 00/01/1900
    Netherlands Int Fixed Interest BBB
    0.64%
  • National Grid Electricity Transmission PLC Medium Term Note 0.823% 07/07/2032
    United Kingdom Int Fixed Interest BBB+
    0.61%
  • Op Yrityspankki Oyj Medium Term Note 0.1% 16/11/2027
    Finland Int Fixed Interest AA-
    0.59%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 0.0% 0.23%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 100.0% 99.77%
Australasian Equities 0.0% 0.0%
International Equities 0.0% 0.0%
Listed Properties 0.0% 0.0%
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 Thu March 31st 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).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    1.45%
  • Animal Testing:
    1.81%
  • Fossil Fuels:
    1.29%
  • Gambling:
    0.00%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.61%
  • 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 Thu March 31st 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 the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or their policy may be less stringent than the definitions applied by Mindful Money.

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 International Fixed Interest Fund invests in international fixed interest securities, primarily investment-grade government and corporate bonds in developed markets, but with the ability to invest to a lesser extent in emerging market countries. It aims to provide a gross return in excess of its benchmark index, over the medium term."

Value $520M NZD
Period of data report Thu March 31st 2022
Fund started Thu March 2nd 2017
Total annual fund fees 0.59%
Total performance based fees 0.0%
Manager's basic fee 0.54%
Other management and administration charges 0.05%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Peter Forster [New]

Currently: Chair, BNZ Investment Review Committee (2 years, 3 months)
Previously: General Manager Wealth, BNZ (currnent position) (3 years, 7 months)

Richard Ansell [New]

Currently: Member, BNZ Investment Review Committee (2 years, 3 months)
Previously: Director, BNZ Investment Services Limited (curret position) (3 years, 1 months)

Jason Wong [New]

Currently: Member, BNZ Investment Review Committee (1 years, 3 months)
Previously: Senior Markets Strategist, BNZ (current position) (6 years, 3 months)

Hayden Griffiths [New]

Currently: Member, BNZ Investment Review Committee (1 years, 3 months)
Previously: Executive Director and Head of Asset Allocation, JBWere (current position) (12 years, 9 months)

Louis Nel [New]

Currently: Member, BNZ Investment Review Committee (0 years, 1 months)
Previously: Head of Investment Solutions Wealth, BNZ (current position) (11 years, 2 months)

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

Downloads

Download the fund's disclosure statement and portfolio holdings.

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