Funds
NZ Funds Global Utilities
Fund type: Growth fund
Past Returns: *17.21%Annual Fees: 2.97%
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.
Key:
- Human Rights Violations
- Environmental Harm
- Animal Cruelty
- Weapons
- Fossil Fuels
- Social Harm
Companies of concern
Environmental Harm
-
Pg&E Corp 3.10%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Pg&E Corp 3.10%
Fossil Fuels
-
Constellation Energy Corp. 4.73%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Public Service Enterprise Group, Inc. 3.51%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
PUBLIC SERVICE ENTERPRISE GROUP, INC. Fossil Fuel Power Generation
Public Service Enterprise Group is based in the USA and supplies electricity and natural gas to customers, primarily in New Jersey. Evidence shows that electricity generated from oil and gas accounts from 15% of the company’s total revenue. However, the company is in the process of divesting from their fossil fuel assets and in 2021 they shut down their last coal-fired plant. The company now plans to focus on nuclear power and natural gas and has set a target of net-zero emissions by 2030. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
National Grid PLC 3.24%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
NATIONAL GRID PLC Fossil Fuel Production
Operates electric and natural gas transmission systems in the UK and US. It also operates facilities for storing LNG. including the Grain LNG terminal in the UK which is the largest LNG facility in Europe and 8th globally.
-
E.On Se 3.21%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Pg&E Corp 3.10%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Bkw AG 3.09%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Verbund AG 3.09%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
VERBUND AG Fossil Fuel Power Generation
Verbund is an Austrian electricity and natural gas company that generates 96% of its electricity from renewable sources. The company generates electricity through hydro-electric, solar, nuclear, natural gas and wind power generators, and also operates a coal power plant. The company ceased coal generation in 2020, however the Austrian government required the company to reopen the plant due to Austria facing energy shortages. Verbund also intends to improve the sustainability of its natural gas supply by converting to green hydrogen, which it plans to power from its sizeable hydroelectric capacity. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Constellation Energy Corp. 4.73%
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. 2024 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
In their own words
The objective of the Global Utilities fund is to mitigate the impact of inflation on your investment over the medium and/or long term with active management. The fund is anticipated to mainly own and trade international utility company shares with downside mitigation.
| Value | $55.5M NZD |
| Period of data report | 30th Sept. 2024 |
| Fund started | 17th March 2023 |
| Total annual fund fees | 2.97% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 2.81% |
| Other management and administration charges | 0.16% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
John Cobb |
Currently: Chair of the Investment Governance Committee and a Director (1 years, 10 months) |
|
Michael Lang |
Currently: Chief Executive and a Director (6 years, 0 months) |
|
Mark Brooks |
Currently: Chief Investment Officer and a Principal (0 years, 7 months) |
|
Paul Van Wetering |
Currently: Head of Investment Operations and Responsible Investing (4 years, 9 months) |
|
Casey Keiper |
Currently: Portfolio Manager and Head of Research (0 years, 3 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2024.
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 |
|---|---|---|
| 2024 | 12.57% | -2.21% |
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 30th Sept. 2024.
Top 10 Investments
-
Constellation Energy Corp
United States International Equities4.73% -
Public Service Enterprise Group
United States International Equities3.51% -
Exelon Corp
United States Other3.34% -
Orsted As
Denmark International Equities3.34% -
National Grid PLC
United Kingdom Other3.24% -
Edp Renovaveis SA
Spain International Equities3.23% -
E.On Se
Germany International Equities3.21% -
Hydro One Ltd
Canada International Equities3.2% -
Terna - Rete Elettrica Nazionale
Italy International Equities3.2% -
American Water Works Co Inc
United States International Equities3.2%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 2.0% | 13.97% |
| New Zealand Fixed Interest | 12.0% | 0.0% |
| International Fixed Interest | 13.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 70.0% | 86.03% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 3.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
Investment Mix
How the money in this fund is invested against the fund's targets.
Target
Actual
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2024.