BNZ Private Wealth Series International Equity Fund

Not Mindful

Type: Aggressive fund

Past Returns: 11.93%

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

Annual Fees: 0.82%

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

Anglo American PLC 0.02%
Atco Ltd 0.02%
BHP Group 0.11%
BHP Group PLC 0.06%
Bollore Ord Shs 0.02%
Cabot Oil & Gas Ord Shs 0.13%
Canadian Utilities Ord Shs Class A 0.03%
Cia Paranaense De Energia Copel Pref Shs 0.02%
Ck Hutchison Holdings Ltd 0.05%
Coca-Cola Co/The 0.19%
Dominion Energy Inc 0.02%
Ecopetrol SA 0.03%
Enagas Ord Shs 0.03%
Enbridge Inc 0.06%
Engie SA 0.02%
Eog Resources Inc 0.45%
Evraz Ord Shs 0.06%
Gail India Ltd 0.05%
Glencore PLC 0.04%
Itochu Corp 0.06%
Jxtg Holdings Ord Shs 0.03%
Kinder Morgan Inc/De 0.03%
Kunlun Energy Ord Shs 0.04%
Lyondellbasell Indu-Cl A 0.03%
Marathon Petroleum Corp 0.02%
Mitsubishi Corp 0.03%
Mitsui & Co Ltd 0.03%
Mol Hungarian Oil and Gas Ord Shs 0.01%
Neste Ord Shs 0.02%
Osaka Gas Ord Shs 0.02%
Petrobras Distribuidora Ord Shs 0.03%
Petroleo Brasileiro SA Petrobras 0.02%
Phillips 66 0.03%
Pioneer Natural Resources Co 0.03%
Posco 0.01%
Ptt Pcl - Foreign 0.03%
Public Service Enterprise Group Ord Shs 0.23%
Reliance Industries Ltd 0.08%
Santos Ltd 0.03%
Tatneft-Sponsored Adr 0.02%
Tc Energy Corp 0.03%
Tokyo Gas Ord Shs 0.02%
Ugi Corporation 0.02%
Vale SA 0.05%
Valero Energy Corp 0.02%

Weapons

Amphenol Corp-Cl A 0.04%
Leidos Holdings Inc 0.02%
Mitsubishi Heavy Industries Ord Shs 0.02%
Wuhan Guide Infrared Co Lt-A Floating Rate Note 00/01/1900 0.01%

Tobacco

Alimentation Couche-Tard Inc 0.03%
Seven & I Holdings Co Ltd 0.03%

Gambling

Evolution Gaming Group 0.03%
Galaxy Entertainment Group Ord Shs 0.03%
Las Vegas Sands Corp 0.08%
Mgm Resorts International Ord Shs 0.01%
Sega Sammy Holdings Ord Shs 0.04%

Adult Entertainment/Pornography

Mgm Resorts International Ord Shs 0.01%

Alcohol

Ambev SA-Adr 0.08%
Anheuser-Busch Inbev Nv 0.05%
Asahi Group Holdings Ltd 0.04%
Brown-Forman Corp-Class B 0.02%
Constellation Brands Inc-A 0.04%
Diageo PLC 0.39%
Heineken Nv 0.85%
Jiangsu Yanghe Brewery Joint-Stock Co Ltd 0.02%
Kirin Holdings Co Ltd 0.01%
Kweichow Moutai Co Ltd-A 0.02%
LVMH Moet Hennessy Louis Vui 0.47%
Pernod Ricard SA 0.03%
Wuliangye Yibin Co Ltd 0.01%

Palm Oil

Indofood Sukses Makmur Ord Shs 0.02%
Posco 0.01%
Sime Darby Ord Shs 0.03%

Human Rights & Environmental Violations

BHP Group 0.11%
BHP Group PLC 0.06%
Bank Hapoalim Bm 0.02%
Bank Leumi Le Israel Ord Shs 0.03%
Barrick Gold Corp 0.03%
Bayer AG-Reg 0.04%
Essity Aktiebolag-B 0.01%
Formosa Chemicals & Fibre Ord Shs 0.02%
Formosa Plastics Ord Shs 0.02%
Freeport - Mcmoran Copper 0.03%
Glencore PLC 0.04%
Grupo Mexico B Ord Shs 0.04%
Israel Discount Bank Ord Shs 0.06%
Johnson & Johnson 0.36%
Mmc Norilsk Nickel PJSC-Adr 0.02%
Nestle SA-Reg 1.78%
Petroleo Brasileiro SA Petrobras 0.02%
Posco 0.01%
Rio Tinto Ltd 0.02%
Rio Tinto PLC 0.11%
Sempra Energy 0.02%
Tokyo Electric Power Holdings Ord Shs 0.02%
Top Glove Corporation Ord Shs 0.01%
Vale SA 0.05%

Animal Testing

Air Liquide SA 0.080%
Akzo Nobel Nv 0.180%
Arkema Ord Shs 0.030%
Asahi Group Holdings Ltd 0.040%
Avantor Inc 0.030%
Bayer AG-Reg 0.040%
Clorox Company 0.020%
Coca-Cola Co/The 0.190%
Danone 0.330%
Dow Inc 0.020%
Du Pont De Nemours 0.020%
Eastman Chemical Co 0.020%
Ecolab Inc 0.610%
Essity Aktiebolag-B 0.010%
Estee Lauder Cos Inc/The 0.020%
Evonik Industries Ord Shs 0.030%
Fmc Corp 0.010%
General Mills Inc 0.070%
Givaudan Ord Shs 0.030%
Glaxosmithkline PLC 0.420%
Henkel AG & Co Kgaa 0.130%
Hermes International 0.040%
Hindustan Unilever Ltd 0.020%
Johnson & Johnson 0.360%
Kao Corporation 0.030%
Kellogg Co 0.010%
Kerry Group Ord Shs 0.330%
Kimberly-Clark Corp 0.050%
Kirin Holdings Co Ltd 0.010%
Koninkilijke Dsm Ord Shs 0.030%
Kraft Heinz Co/The 0.020%
L'Oreal SA 0.090%
LVMH Moet Hennessy Louis Vui 0.470%
Lanxess Ord Shs 0.040%
Lg Household & Health Care Ord Shs 0.020%
Linde PLC 0.690%
Lyondellbasell Indu-Cl A 0.030%
Mitsui Chemicals Ord Shs 0.030%
Mondelez International Inc-A 0.070%
Nestle SA-Reg 1.780%
Nutrien Ord Shs 0.020%
PPG Industries Inc 0.020%
Pepsico Inc 0.420%
Procter and Gamble Co/The 0.710%
Reckitt Benckiser Group PLC 0.060%
Reliance Industries Ltd 0.080%
Seven & I Holdings Co Ltd 0.030%
Sherwin-Williams Co/The 0.060%
Shin-Etsu Chemical Co Ltd 0.510%
Symrise AG 0.020%
Tesco PLC 0.030%
Unilever Indonesia Ord Shs 0.010%
Unilever PLC 0.530%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Wed March 31st 2021 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
2021	36.18%	32.15%
2020	-7.01%	-2.7%
2019	9.82%	6.33%
2018	7.69%	10.77%

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 Wed March 31st 2021.

Showing the top 10 investments for this fund:

Amazon.Com Inc
United States International Equities

2.23%
Microsoft Corporation
United States International Equities

2.12%
Apple Inc
United States International Equities

2.12%
Alphabet Inc Class C
United States International Equities

1.96%
Nestle SA-Reg
Switzerland International Equities

1.78%
National Australia Bank Bank Account AUD
Australia Cash and Equivalents AA-

1.45%
Visa Inc-Class A Shares
United States International Equities

1.19%
Facebook Inc-A
United States International Equities

1.08%
Hdfc Bank Ltd Adr
United States International Equities

1.05%
Home Depot Inc
United States International Equities

0.99%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Wed March 31st 2021.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	0.0%	0.05%
New Zealand Fixed Interest	0.0%	0.0%
International Fixed Interest	0.0%	0.0%
Australasian Equities	0.0%	0.0%
International Equities	100.0%	99.95%
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 Wed March 31st 2021.

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:

0.01%
Alcohol:

2.05%
Animal Testing:

8.95%
Fossil Fuels:

2.38%
Gambling:

0.20%
GMOs:

0.00%
Human Rights & Environmental Violations:

2.94%
Palm Oil:

0.07%
Tobacco:

0.07%
Weapons:

0.10%

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 Equity Fund invests in international equities primarily in developed markets 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 long term."

Value	$740M NZD
Period of data report	Wed March 31st 2021
Fund started	Wed March 8th 2017
Total annual fund fees	0.82%
Total performance based fees	0.0%
Manager's basic fee	0.76%
Other management and administration charges	0.06%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Richard Morath	Currently: Director BNZ Investment Services Limited (7 years, 9 months) Previously: Non-Executive Director BNZ Life Insurance Limited (current position) (17 years, 4 months)
Richard Ansell	Currently: Director BNZ Investment Services Limited (2 years, 1 months) Previously: Member BNZ Investment Review Committee (current position) (2 years, 1 months)
Hayley Cassidy	Currently: Director BNZ Investment Services Limited (1 years, 11 months) Previously: Executive Chief General Counsel BNZ (current position) (0 years, 1 months)
Paul Richardson	Currently: Director BNZ Investment Services Limited (1 years, 4 months) Previously: Managing Director Carina Capital Limited (current position) (2 years, 8 months)
Daniel Huggins	Currently: Director BNZ Investment Services Limited (0 years, 8 months) Previously: Executive - Customer Products & Services BNZ (current position) (1 years, 0 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Wed March 31st 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v