Clarity Diversified Growth Fund

Not Mindful

Type: Aggressive fund

Past Returns: *-5.25%

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

Annual Fees: 1.18%

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

Altagas Ltd 0.09%
BHP Group Ltd 1.05%
China Petroleum & Chemical - H 0.07%
China Shenhua Energy Co-H 0.15%
Clp Holdings Ltd 0.16%
Cnooc Ltd 0.07%
Enterprise Products Partners 0.14%
Genesis Energy Ltd 0.34%
Orix Corp 0.06%
Pembina Pipeline Corp 0.07%
Posco 0.16%
Rio Tinto Ltd 0.53%
Rio Tinto PLC 0.09%
South32 Ltd 0.37%
Valero Energy Corp 0.05%
Woodside Petroleum Ltd 0.40%

Weapons

Caci International Inc-Cl A 0.04%
L3Harris Technologies Inc 0.10%
Lear Corp 0.14%

Tobacco

Seven & I Holdings Co Ltd 0.07%

Gambling

Aristocrat Leisure Ltd 0.36%
Evolution Gaming Group 0.04%
Sky City Entertainment Group 0.30%

Alcohol

LVMH Moet Hennessy Louis Vui 0.20%

Palm Oil

Posco 0.16%

Human Rights & Environmental Violations

BHP Group Ltd 1.05%
Jbs SA 0.03%
Nestle SA-Reg 0.31%
Posco 0.16%
Rio Tinto Ltd 0.53%
Rio Tinto PLC 0.09%

Animal Testing

Akzo Nobel Nv 0.060%
Bayer AG-Reg 0.210%
Eastman Chemical Co 0.120%
Kao Corporation 0.150%
Kimberly-Clark Corp 0.250%
L'Oreal SA 0.060%
Linde PLC 0.220%
LVMH Moet Hennessy Louis Vui 0.200%
Nestle SA-Reg 0.310%
Pepsico Inc 0.150%
Seven & I Holdings Co Ltd 0.070%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Wed Sept. 30th 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, Sustainalytics and research organisations.

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
2020	-7.57%	-10.75%
2019	10.01%	0.24%

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 Dec. 31st 2020.

Showing the top 10 investments for this fund:

Capital Group New Perspective Fund Class Ch-NZD
Luxembourg International Equities

13.2%
Capital Group New Perspective Fund Class C NZD
Luxembourg International Equities

9.6%
Cash At Bank
New Zealand Cash and Equivalents

8.24%
Spark New Zealand Ltd
New Zealand Australasian Equities

2.71%
CSL Ltd
Australia Australasian Equities

1.9%
Commonwealth Bank Of Australia
Australia Australasian Equities

1.71%
Summerset Group Holdings Ltd
New Zealand Australasian Equities

1.55%
Kiwi Property Group Ltd
New Zealand Listed Property

1.54%
Brambles Ltd
Australia Australasian Equities

1.32%
Meridian Energy Ltd
New Zealand Australasian Equities

1.28%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Thu Dec. 31st 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	5.0%	9.76%
New Zealand Fixed Interest	0.0%	0.0%
International Fixed Interest	0.0%	0.0%
Australasian Equities	47.5%	40.17%
International Equities	47.5%	45.23%
Listed Properties	0.0%	4.85%
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 Thu Dec. 31st 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:

0.20%
Animal Testing:

1.81%
Fossil Fuels:

3.82%
Gambling:

0.70%
GMOs:

0.00%
Human Rights & Environmental Violations:

2.17%
Palm Oil:

0.16%
Tobacco:

0.07%
Weapons:

0.29%

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

"The Fund will provide actively managed exposure to New Zealand Australian and international equities and aims to generate a better return than the benchmark over the medium to long term. The Fund primarily invests in managed funds (including other Clarity funds) to achieve a well-diversified portfolio of assets."

Value	$3.3M NZD
Period of data report	Thu Dec. 31st 2020
Members	Not provided
Fund started	Mon April 3rd 2017
Total annual fund fees	1.18%
Total performance based fees	0.0%
Manager's basic fee	0.78%
Administration charges	0.4%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Alan Lee	Currently: Director JMI Wealth Limited and Clarity Funds Management Limited (15 years, 6 months) Previously: Director Jarden Morgan Investment Services Limited (4 years, 0 months)
Andrew Kelleher	Currently: Director JMI Wealth Limited and Clarity Funds Management Limited (12 years, 8 months) Previously: Acting Managing Principal ASB Securities Limited and Investment Consultant ASB Limited (3 years, 5 months)
Josh Wilson	Currently: Chief Investment Officer Clarity Funds Management Limited (1 years, 9 months) Previously: Portfolio Manager NZ Funds (7 years, 10 months)
Harry Cunninghame	Currently: Investment Analyst Clarity Funds Management Limited (0 years, 10 months) Previously: Investment Performance and Risk Analyst Milford Asset Management (1 years, 2 months)
Jason Watson	Currently: Head of Advice JMI Wealth Limited (3 years, 8 months) Previously: Regional Manager Private Bank ANZ (5 years, 2 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Thu Dec. 31st 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v