Funds
Nikko AM Global Bond 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
Human Rights Violations
-
Credit Suisse Group AG 0.81%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
CREDIT SUISSE GROUP AG Business Ethics
Credit Suisse provides investment banking services. It has faced regulatory and legal actions related to aiding tax evasion, money laundering, corporate espionage, fraud, and breach of trade secrets. It has also been involved in multiple lawsuits related to its governance.
-
Glencore Funding Llc 0.12%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
GLENCORE FUNDING LLC Business Ethics Deforestation Environmental Damage Fossil Fuel Production
Glencore is a multinational commodity trading and mining company. Glencore has been repeatedly criticised for not having adequate policies in place to ensure that its palm oil suppliers in Southeast Asia do not engage in deforestation or other environmentally harmful practices. Glencore also operates mines in several countries, including Indonesia and the Democratic Republic of Congo, where the mining industry has been linked to deforestation and other environmental damage.
-
Credit Suisse New York 0.09%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
CREDIT SUISSE NEW YORK Business Ethics
Credit Suisse provides investment banking services. It has faced regulatory and legal actions related to aiding tax evasion, money laundering, corporate espionage, fraud, and breach of trade secrets. It has also been involved in multiple lawsuits related to its governance.
-
Wells Fargo & Company 0.05%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
-
Credit Suisse Group AG 0.81%
Environmental Harm
-
Cargill Inc 0.28%
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Palm Oil
Where companies are involved in the production or distribution of palm oil.
CARGILL INC Deforestation Environmental Damage Palm Oil
Cargill is a privately held American global food corporation. Cargill specialises in food service, agriculture, meat, and poultry, as well as transportation, pharmaceutical ingredients, and beauty products. The company's supply chain, particularly for soy products, has been linked to several allegations of illegal deforestation in the Amazon rainforest.
-
Glencore Funding Llc 0.12%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
GLENCORE FUNDING LLC Business Ethics Deforestation Environmental Damage Fossil Fuel Production
Glencore is a multinational commodity trading and mining company. Glencore has been repeatedly criticised for not having adequate policies in place to ensure that its palm oil suppliers in Southeast Asia do not engage in deforestation or other environmentally harmful practices. Glencore also operates mines in several countries, including Indonesia and the Democratic Republic of Congo, where the mining industry has been linked to deforestation and other environmental damage.
-
Syngenta Finance Nv 0.08%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Energy Transfer Lp 0.06%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
-
Cargill Inc 0.28%
Animal Cruelty
-
Syngenta Finance Nv 0.08%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
-
Intl Flavor & Fragrances 0.06%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Sasol Financing Usa Llc 0.06%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
-
Dupont De Nemours Inc 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
-
Syngenta Finance Nv 0.08%
Fossil Fuels
-
Electricite De France SA 0.32%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Enterprise Products Oper 0.22%
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.
-
Glencore Cap Fin Dac 0.18%
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 0.17%
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.
-
Enel Spa 0.16%
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.
ENEL SPA Fossil Fuel Power Generation
Enel is Europe’s largest electric utilities company by market capitalisation and holds a 70.1% stake in the energy company, Endesa. Evidence shows that energy generated from fossil fuels accounts for 15% of the company’s revenues. However, the company have announced plans to abandon coal by 2027 and gas by 2040, while investing significantly in expanding their renewable energy capacity. By 2030, the company expects to have invested a total of EUR €70 billion in renewable energy. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
-
Galaxy Pipeline Assets 0.15%
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.
-
Qatar Energy 0.13%
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.
QATAR ENERGY Fossil Fuel Production
Qatar Petroleum Corp, headquartered in Qatar, provides oil and gas drilling, exploration, refining, and distribution services. It conducts exploration, drilling and production operations, transport, storage, marketing, and sale of crude oil natural gas liquids, liquefied natural gas, gas to liquids, refined products, and petrochemicals. Between 2021 and 2023, the company spent an average of USD $325 million per year on exploration activities alone. After generating 982 million barrels of oil in 2023, the company plans to expand their operations an additional 16,520 million barrels in the short term (1-7 years). The expansion is proposed in Qatar, Congo, Brazil, Argentina, Mexico. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 41.8%.
-
Glencore Funding Llc 0.12%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
GLENCORE FUNDING LLC Business Ethics Deforestation Environmental Damage Fossil Fuel Production
Glencore is a multinational commodity trading and mining company. Glencore has been repeatedly criticised for not having adequate policies in place to ensure that its palm oil suppliers in Southeast Asia do not engage in deforestation or other environmentally harmful practices. Glencore also operates mines in several countries, including Indonesia and the Democratic Republic of Congo, where the mining industry has been linked to deforestation and other environmental damage.
-
Occidental Petroleum Cor 0.12%
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.
-
E.On Intl Finance Bv 0.11%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Totalenergies Se 0.09%
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
TotalEnergies, headquartered in France, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in oil and gas exploration, production, refining, storage and transportation, as well as in the production of petrochemicals and specialty chemicals. Between 2021 and 2023, the company spent an average of USD $990 million per year on exploration activities alone. After generating 970 million barrels of oil in 2023, the company plans to expand their operations an additional 7,970 million barrels in the short term (1-7 years).
Expansion countries include Uganda, Australia, Papua New Guinea, Azerbaijan, Iraq, Qatar, UAE, Oman, Egypt, Libya, Kenya, Mozambique, Angola, Congo, Cameroon, Nigeria, Brazil, Argentina, USA, Norway, Denmark, Russia. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 57.1%. -
Wintershall Dea Finance 0.09%
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.
-
Abu Dhabi Crude Oil 0.07%
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.
ABU DHABI CRUDE OIL Fossil Fuel Production
Abu Dhabi National Oil Co., headquartered in the UAE, engages in the provision of energy services. It specializes in exploration and production, processing and refining, and marketing and distribution of oil and gas. Production of hydrocarbons in 2021 was 1035.4 mmboe. Expansion countries include the UAE. Currently 7562.3 mmboe resources under development as of 2022. Overshoots the IEA NZA Expansion by 89.8%. Exploration CAPEX is 25.1 MUSD (3-year average 2020-2022).
-
Energy Transfer Lp 0.06%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
-
Sasol Financing Usa Llc 0.06%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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.
-
Enbridge Inc 0.05%
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.
-
Sempra Energy 0.04%
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.
-
Ameren Corp 0.02%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Devon Energy Corporation 0.02%
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.
-
Electricite De France SA 0.32%
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. 2023 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 fund aims to provide investors with regular income by constructing an actively managed investment portfolio of investments with the potential for capital gain from global fixed interest markets.
| Value | $158M NZD |
| Period of data report | 31st Dec. 2023 |
| Fund started | 13th Dec. 2013 |
| Total annual fund fees | 0.8% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.8% |
| Other management and administration charges | 0.0% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Alan Clarke |
Currently: Portfolio Manager, Diversified Funds & External Managers and Member of Investment Committee (0 years, 3 months) |
|
Stuart Williams |
Currently: Managing Director and Member of Investment Committee (0 years, 9 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.
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 |
|---|---|---|
| 2023 | -0.79% | -4.02% |
| 2022 | -2.46% | -3.39% |
| 2021 | 2.15% | 3.67% |
| 2020 | 1.75% | 3.1% |
| 2019 | 2.76% | 3.37% |
| 2018 | 1.94% | 1.45% |
| 2017 | 1.52% | 1.92% |
| 2016 | 2.91% | 3.47% |
| 2015 | 5.21% | 5.92% |
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 31st Dec. 2023.
Top 10 Investments
-
Japan Government 150124 0.00 Cb
Japan Cash and Equivalents A+6.84% -
Japan Government 190224 0.00 Gb
Japan Cash and Equivalents A+5.34% -
USD BNP Paribas A/C
United States Cash and Equivalents A-15.29% -
Japan Government 130224 0.00 Gb
Japan Cash and Equivalents A+2.47% -
Japan Government 200630 0.10 Gb
Japan Int Fixed Interest A+2.01% -
Japan Government 010125 0.005 Gb
Japan Int Fixed Interest A+1.83% -
Japan Government 200931 0.10 Gb
Japan Int Fixed Interest A+1.69% -
Japan Government 010724 0.005 Gb
Japan Cash and Equivalents A+1.63% -
Gnma Ii 3O Year Single Family 201052 4.50 Mbs Pool Ma8347
United States Int Fixed Interest AAA1.57% -
Kfw 101028 3.125 Gb
Germany Int Fixed Interest AAA1.41%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 17.69% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 100.0% | 82.52% |
| 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% | -0.2% |
| 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 31st Dec. 2023.