Funds
PIE Property and Infrastructure Fund
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
Fossil Fuels
-
E.On Se 3.70%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Constellation Energy Corp. 3.22%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Contact Energy Ltd. 2.22%
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.
CONTACT ENERGY LTD. Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Totalenergies Se 2.08%
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.
TOTALENERGIES SE Fossil Fuel Production
French based global oil major (7th largest in the world). In 2022 it produced 970 million barrels of oil and the company plans to expand their operations with an additional 7,970 million barrels in the short term (1-7 years). This planned term expansion overshoots the IEA Net-Zero Emissions Scenario by 57%.
-
Iberdrola 1.95%
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.
IBERDROLA Fossil Fuel Power Generation
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Wec Energy Group, Inc. 1.72%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
E.On Se 3.70%
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 Property & Infrustructure Fund's objective is to generate capital growth over a period exceeding 7 years. The Fund invests predominantly in listed property and infrustructure securities, directly and/or through externally managed funds.
| Value | $122M NZD |
| Period of data report | 30th Sept. 2024 |
| Fund started | 5th Dec. 2023 |
| Total annual fund fees | 1.25% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.25% |
| Other management and administration charges | 0.0% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (2 years, 6 months) |
|
Toby Woods |
Currently: Senior Investment Analyst (5 years, 1 months) |
|
Matt Young |
Currently: Investment Analyst - Global (3 years, 9 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 |
|---|
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
-
Morrison & Co High Conviction Infra Fund
New Zealand International Equities40.32% -
E.On Se
Germany International Equities3.71% -
Infratil Ltd
New Zealand Australasian Equities3.52% -
Constellation Energy Corp
United States International Equities3.22% -
Summerset Group Holdings Ltd
New Zealand Australasian Equities3.09% -
Vonovia Se
Georgia Listed Property2.82% -
Talen Energy Corp
United States International Equities2.82% -
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-2.62% -
Auckland International Airport Ltd
New Zealand Australasian Equities2.33% -
Contact Energy Ltd
New Zealand Australasian Equities2.22%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 4.53% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 10.0% | 10.26% |
| International Equities | 60.0% | 59.51% |
| Listed Properties | 30.0% | 25.7% |
| 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.
Target
Actual
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2024.