Mercer Flexisaver High Growth Fund

Mindful Fund

Fund type: Aggressive fund

Past Returns: 8.88%

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

Annual Fees: 1.21%

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

Aker BP Asa Nok1 0.02%
Anglo American PLC 0.09%
Anglo American PLC (SA Line) 0.01%
Apa Corporation Com Usd0.625 0.05%
Arcelormittal Npv Post Stk Split 0.07%
BHP Billiton Ltd 0.09%
BHP Group Limited Ordinary Fully Paid 0.23%
BP P.L.C 0.07%
Bollore Se 0.02%
Canadian Natural Resources 0.04%
Cheniere Energy Inc 0.02%
Chevron Corp 0.01%
China Petroleum & Chemical 0.02%
Conocophillips 0.02%
Continental Resources Inc/Ok 0.06%
Cosmo Energy Holdings Co Ltd 0.02%
Crestwood Equity Partners Lp 0.02%
Dominion Energy Inc 0.16%
Enbridge Inc 0.04%
Eni Spa 0.18%
Eog Resources Inc 0.05%
Equinor Asa 0.07%
Exxon Mobil Corporation 0.06%
Formosa Petrochemical Corporation 0.02%
Glencore PLC 0.01%
Guizhou Panjiang Refined Coal Co Ltd 0.01%
Itochu Enex Co Ltd 0.01%
Japan Petroleum Exploration 0.02%
Jizhong Energy Resources Co Ltd 0.04%
Keyera Corp Com 0.01%
Marathon Oil Corp 0.07%
Marathon Petrol Com 0.07%
Mitsui & Co Ltd Jpy 0.07%
Mitsui O.S.K.Linesnpv Temp 0.02%
Mol Hungarian Oil 0.01%
National Fuel Gas Company 0.01%
Nippon Yusen Kk 0.07%
OMV AG 0.06%
Oneok Inc 0.02%
Ovintiv Inc 0.02%
Ovintiv Inc Com Usd0.01 0.03%
Parkland Corp 0.01%
Pembina Pipeline 0.02%
Petrochina Co Ltd 0.02%
Petrochina Co Ltd H 0.02%
Petroleo Brasileiro Petrobras SA 0.05%
Phillips 66 Com Usd0.01 0.02%
Ptt Explor and Prod Pcl Nvdr 0.03%
Ptt Public Company Thb10 0.01%
Repsol SA 0.03%
Santos Limited 0.09%
Shell PLC Ord Eur0.07 0.11%
Sk Innovation 0.01%
Tc Energy Corp 0.02%
Ugi Corp Com 0.01%
Vale SA 0.07%
Valero Energy Corp 0.02%
Viva Energy Group Ordinary Fully Paid Deferred Settlement 0.03%
Williams Companies Inc 0.05%

Weapons

Tobacco

Casey'S General Stores Inc 0.07%
Performance Food Group Co 0.13%

Gambling

Boyd Gaming Corporation 0.01%
Mgm Growth Properties Llc 0.04%
Opap SA 0.01%
Skycity Entertainment Group Limited 0.38%
Vici Properties Inc 0.04%

Adult Entertainment/Pornography

Mgm Growth Properties Llc 0.04%

Alcohol

Ambev SA Adr Each Repr Ord Spons 0.02%
Ambev SA Com Npv 0.02%
Constellation Brands Inc-A 0.10%
Treasury Wine Estates Limited 0.04%

Palm Oil

GMOs

Human Rights & Environmental Violations

BHP Billiton Ltd 0.09%
BHP Group Limited Ordinary Fully Paid 0.23%
Bank Hapoalim Ltd 0.04%
Bank Leumi Le-Israel 0.04%
Bayer AG 0.07%
Chevron Corp 0.01%
China Petroleum & Chemical 0.02%
Duke Energy Corp Com USD 0.001 Post Rev Splt 0.03%
Evergreen Marine Corporation 0.11%
Glencore PLC 0.01%
Israel Discount Bank 0.02%
Johnson & Johnson Com US$1 0.38%
Li Ning Co Ltd 0.02%
Motorola Solutions Inc 0.27%
Mtn Group Ltd 0.02%
Nestle SA 0.23%
Petrochina Co Ltd 0.02%
Petrochina Co Ltd H 0.02%
Petroleo Brasileiro Petrobras SA 0.05%
Rio Tinto Limited 0.06%
Rio Tinto PLC 0.02%
Rio Tinto PLC Ord 10P Gbp 0.09%
Shell PLC Ord Eur0.07 0.11%
Vale SA 0.07%
Zijin Mining Group Co Ltd 0.02%

Animal Testing

Air Liquide 0.04%
Amorepacific Corp 0.01%
Arkema 0.02%
Axalta Coating Systems Ltd 0.01%
Bayer AG 0.07%
Capri Holdings Ltd Com Npv 0.07%
Central Glass Co Ltd 0.01%
Chevron Corp 0.01%
Church & Dwight Co 0.09%
Cj Cheikjedang Corp 0.01%
Coca Cola Co USD 0.11%
Earth Corporation Npv 0.02%
Ecolab Ltd 0.13%
Estee Lauder Companies 0.08%
Ezaki Glico Co Ltd 0.03%
Far Eastern New Century Corporation 0.04%
Formosa Plastics Corporation 0.02%
General Mills Inc 0.01%
Glaxosmithkline PLC 0.12%
Hermes International 0.05%
Hokuto Corp 0.01%
Inabata & Co Ltd 0.01%
Ingredion Inc Com USD 0.01 0.03%
Intl Flavors & Fragrances USD 0.11%
Johnson & Johnson Com US$1 0.38%
Kellogg Company 0.07%
Kerry Group PLC 0.03%
Kimberly Clark Corp Com Usd1.25 0.02%
Koninklijke Dsm Nv 0.07%
Kureha Corporation Npv 0.01%
L'Oreal 0.05%
Lg Household Health Care 0.01%
Linde PLC 0.14%
Linde PLC Com 0.02%
Mondelez International Inc 0.15%
Morinaga Milk Industry Co Ltd 0.01%
Nagase & Co Ltd 0.03%
Nestle SA 0.23%
Nippon Shokubai Jp50 0.01%
Nisshinbo Holdings Inc 0.04%
PPG Industries Inc 0.02%
Pepsico Inc Cap US$0.01 2/3 0.34%
Petronas Chemicals Group Bhd 0.01%
Procter & Gamble Company 0.15%
Rpm International Inc 0.01%
Salvatore Ferragamo Spa 0.01%
Shell PLC Ord Eur0.07 0.11%
Sherwin Williams Com Usd1 0.11%
Showa Denko Kk Jpy50 0.01%
Sk Innovation 0.01%
Symrise AG 0.04%
Unilever PLC 0.03%
Yara International Asa 0.02%

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	3.19%	3.03%
2021	36.07%	30.22%
2020	-7.33%	-6.62%
2019	10.16%	6.18%
2018	7.53%	9.01%
2017	9.49%	10.63%

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:

First Sentier Global Listed Infrastructure Fund
New Zealand Other

3.47%
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities

1.79%
BNP Paribas US Dollar Account
United States International Equities

1.62%
Microsoft Corporation
United States International Equities

1.58%
Westpac Business Interest Account
New Zealand Cash and Equivalents AA-

1.44%
Mainfreight Limited
New Zealand Australasian Equities

1.32%
Auckland International Airport Limited
New Zealand Australasian Equities

1.16%
Ebos Group Limited
New Zealand Australasian Equities

1.11%
Contact Energy Limited
New Zealand Australasian Equities

1.07%
Spark New Zealand Limited
New Zealand Australasian Equities

1.04%

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	1.0%	3.61%
New Zealand Fixed Interest	1.0%	0.48%
International Fixed Interest	3.0%	2.4%
Australasian Equities	20.0%	18.3%
International Equities	61.0%	61.56%
Listed Properties	3.5%	3.39%
Unlisted Properties	3.5%	3.16%
Other	7.0%	7.1%
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:

0.05%
Alcohol:

0.20%
Animal Testing:

3.62%
Fossil Fuels:

2.85%
Gambling:

0.49%
GMOs:

0.01%
Human Rights & Environmental Violations:

2.15%
Palm Oil:

0.01%
Tobacco:

0.21%
Weapons:

0.03%

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

"Invests almost entirely in growth assets such as shares, real assets and alternative assets, with only a small amount invested in cash and fixed interest. May be suitable for investors wanting to invest predominately in growth assets, who want higher long-term returns and are comfortable with high volatility in returns. Mercer is one of the world’s leading firms for superannuation and investments with over 23,000 colleagues worldwide helping ensure sustainable returns for our customers and clients. Mercer has been helping Kiwis save for their best possible retirement for over 60 years. Our team of investment experts search the globe to find some of the best and most diverse investments to help maximise KiwiSaver returns and we invest responsibly."

Value	$16M NZD
Period of data report	Thu March 31st 2022
Fund started	Fri Oct. 9th 2015
Total annual fund fees	1.21%
Total performance based fees	0.0%
Manager's basic fee	0.91%
Other management and administration charges	0.3%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Kristen Kohere-Soutar	Currently: Chair - Mercer (N.Z.) Ltd (2 years, 4 months) Previously: Director - Mercer (N.Z.) Ltd (current) (4 years, 7 months)
Martin Lewington	Currently: CEO - Mercer (N.Z.) Ltd (13 years, 1 months) Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)
Kylie Willment	Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (4 years, 5 months) Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)
Ronan Mccabe	Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (1 years, 7 months) Previously: Head of Portfolio Management, Delegated Solutions Pacific, Mercer Australia (Pty) Ltd (current) (3 years, 0 months)
Robert Kavanagh	Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (8 years, 0 months) Previously: Vice President - Account Management PIMCO Australia Pty Limited (7 years, 0 months)