Russell Investments Global Fixed Interest Fund

Not Mindful

Type: Defensive fund

Past Returns: 2.66%

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

Annual Fees: 0.8%

Annual fees, including any membership and % management 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

Aes Corp/The 0.10%
Aker BP Asa 0.07%
Apache Corp 0.01%
Chevron Corp 0.05%
Cnooc Finance 2013 Ltd 0.02%
Conocophillips Company 0.12%
Ecopetrol SA 0.01%
Energy Transfer Operatng 0.12%
Engie SA 0.07%
Eni Finance Usa Inc 0.23%
Equinor Asa 0.02%
Exxon Mobil Corporation 0.23%
Firstenergy Corp 0.04%
Kinder Morgan Ener Part 0.01%
Kinder Morgan Inc 0.01%
Mplx Lp 0.02%
Newfield Exploration Co 0.10%
Noble Energy Inc 0.03%
Parkland Fuel Corp 0.01%
Petrobras Global Finance 0.05%
Petroleos Mexicanos 0.32%
Reliance Industries Ltd 0.03%
Shell International Fin 0.31%
Total Capital Intl SA 0.17%
Wpx Energy Inc 0.01%

Weapons

United Technologies Corp 0.01%

Alcohol

Anheuser-Busch Inbev SA/ 0.19%
Anheuser-Busch Inbev Wor 0.02%
Heineken Nv 0.08%

GMOs

Bayer AG 0.04%
Dupont De Nemours Inc 0.01%

Human Rights & Environmental Violations

Adani Ports and Special 0.01%
Centrais Eletricas Brasi 0.01%
Chevron Corp 0.05%
Freeport-Mcmoran Inc 0.02%
Jbs Usa/Food/Finance 0.03%
Johnson & Johnson 0.15%
Nestle Finance Intl Ltd 0.02%
Nestle Holdings Inc 0.10%
Shell International Fin 0.31%

Animal Testing

Bayer AG 0.040%
Chevron Corp 0.050%
General Mills Inc 0.070%
Johnson & Johnson 0.150%
Nestle Finance Intl Ltd 0.020%
Nestle Holdings Inc 0.100%
Procter & Gamble Co/The 0.140%
Reckitt Benckiser Tsy 0.250%
Shell International Fin 0.310%
Unilever Capital Corp 0.030%
Unilever Nv 0.030%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Tue March 31st 2020 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 and research organisations.

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
2020	1.67%	3.17%
2019	2.69%	2.16%
2018	2.37%	2.66%
2017	1.63%	2.68%
2016	2.91%	2.52%
2015	5.21%	8.22%
2014	1.36%	1.96%
2013	4.22%	7.64%

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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

New Zealand Dollar Cash Deposit (State Street Bank & Trust)
New Zealand Cash and Equivalents AAA

6.65%
US Dollar Cash Deposit (State Street Bank & Trust)
United States Cash and Equivalents AAA

4.45%
Japan 10 Year Government Bond 0.1% 20/06/2029
Japan Int Fixed Interest A

1.06%
Treasury Bill 0.1% 14/07/2020
United States Int Fixed Interest AAA

0.99%
Australian Dollar Cash Deposit (State Street Bank & Trust)
Australia Cash and Equivalents AAA

0.96%
Buoni Poliennali Del Tes 1.3% 15/05/2028
Italy Int Fixed Interest BBB

0.92%
Federal National Mortgage Association 3%
United States Int Fixed Interest AAA

0.86%
Federal National Mortgage Association 3.5% 14/07/2020
United States Int Fixed Interest AAA

0.86%
Australian Government Bond 3% 21/03/2047
Australia Cash and Equivalents AAA

0.84%
Japan 2 Year Government Bond 0.1% 01/11/2020
Japan Int Fixed Interest A

0.84%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Tue June 30th 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	0.0%	13.05%
New Zealand Fixed Interest	0.0%	-0.66%
International Fixed Interest	100.0%	85.4%
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%	2.21%
Commodities	0.0%	0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a 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:

0.29%
Animal Testing:

1.20%
Fossil Fuels:

2.24%
Gambling:

0.00%
GMOs:

0.05%
Human Rights & Environmental Violations:

0.71%
Palm Oil:

0.00%
Tobacco:

0.00%
Weapons:

0.02%

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"Provides investors with exposure to international fixed interest securities actively managed using a multi-manager approach with a blend of managers to provide access to leading global specialists. Targets a position of being fully hedged back to the New Zealand dollar."

Value	$610M NZD
Period of data report	Tue June 30th 2020
Members	Not provided
Fund started	Wed Dec. 21st 2011
Total annual fund fees	0.8%
Total performance based fees	0.0%
Manager's basic fee	0.66%
Administration charges	0.14%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Gerard Fitzpatrick	Currently: Senior Portfolio Manager Head of Fixed Income Russell Investments (1 years, 4 months) Previously: Chief Investment Officer Fixed Income Russell Investments (6 years, 0 months)
Austin Loke	Currently: Implementation Portfolio Manager (Global Fixed Income) Russell Investments (4 years, 4 months) Previously: Implementation Portfolio Manager Russell Investments (4 years, 9 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v