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

    • Procter & Gamble Co/The 2.04%
    • Colgate-Palmolive Co 2.00%
    • L'Oreal 1.72%
    • Ecolab Inc 1.54%
    • National Grid PLC 2.54% !!
      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
    • Iberdrola SA 2.30% 1.5°C
      This company is on a 1.5°C pathway

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 aims to deliver long-term total returns in excess of the index by investing in the equities of companies globally, that generate high return on capital relative to their peers, and whose management teams and boards display exemplary stewardship to sustain those returns over time.
The Fund obtains this exposure through investment in the Wellington Global Stewards Fund managed by Wellington Management.

Devon is an independent investment management business that specialises in building investment portfolios for our clients that are comprised of companies listed on the New Zealand and Australian stock exchanges. Our approach is an active one where our rigorous research and analytical skills are applied to maximum advantage. Devon was established in March 2010 and is staffed by a number of leading investment professionals, most of whom are shareholders in the business.

Value $47.8M NZD
Period of data report 31st Dec. 2023
Fund started 28th March 2022
Total annual fund fees 1.2%
Total performance based fees 0.0%
Manager's basic fee 0.95%
Other management and administration charges 0.25%
Total other charges 0.0
Total other charges currency NZD

Slade Robertson

Currently: Managing Director, Devon Funds Management (6 years, 11 months)
Previously: Portfolio Manager, Devon Funds Management (6 years, 10 months)

Tama Willis

Currently: Portfolio Manager, Devon Funds Management (11 years, 6 months)
Previously: Investment Analyst, GIC Asset Management (2 years, 0 months)

Mark Brown

Currently: Chief Investment Officer, Devon Funds Management (6 years, 0 months)
Previously: Head of Equities, ANZ (6 years, 0 months)

Chris Gaskin

Currently: Portfolio Manager, Devon Funds Management (13 years, 9 months)
Previously: Portfolio Manager, Brook Asset Management (4 years, 2 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 -5.17% 1.71%

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

  • Wellington Global Stewards Fund-Tzcnzd
    Ireland International Equities
  • NZD Cash At Bank
    New Zealand Cash and Equivalents
Type Target Actual
Cash and Cash Equivalents 5.0% 3.55%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 0.0%
Australasian Equities 0.0% 0.0%
International Equities 95.0% 96.45%
Listed Properties 0.0% 0.0%
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 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.