Funds
Nikko AM Income 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
-
Contact Energy Ltd 3.17%
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.
-
Genesis Energy Ltd 2.36%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
GENESIS ENERGY LTD Fossil Fuel Power Generation
Genesis Energy is engaged in energy generation, trading and selling of electricity, and owns a portfolio of fossil fuel and renewable generation assets across New Zealand. Evidence shows that thermal generation from gas represents a significant portion of the company's total power generation (from the Huntly power station), and that oil and gas power revenues represent approximately 35% of the company's total revenue.
-
Contact Energy Ltd 3.17%
1.5°C
Fund Provider Response
Contact (CEN) generates most of its electricity from renewable sources. On average over the past 5 years, 84% has been from renewable sources. This increased to 94% in FY23 and is expected to increase to 97-98% the next two years as it closes its largest thermal plant and completes renewable developments. CEN has committed to Net-Zero emissions by 2035.
Genesis Energy (GNE) is exploring running its Huntly Thermal Power Station on Biomass. This will transform GNE’s generation profile from 40% renewable to 95% renewable by 2035. GNE also has a Net Zero emissions target by 2040 which has been approved by SBTi.
This data is compiled by Mindful Money from the fund information and portfolios
that each fund has
filed with the Disclose register to 31st March 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 Nikko AM Income Fund aims to provide investors with regular income from an actively managed investment portfolio and to outperform the RBNZ Official Cash Rate by 3.0% p.A. Over a rolling three year period before fees, expenses and taxes. The Nikko AM Income Fund invests in NZ fixed interest, Australasian equities and property and multiple Nikko AM Funds.
| Value | $3.23M NZD |
| Period of data report | 31st March 2024 |
| Fund started | 16th Oct. 2007 |
| 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
|
Stuart Williams |
Currently: Managing Director and Chair of Investment Committee (1 years, 0 months) |
|
Fergus Mcdonald |
Currently: Head of Bonds & Currency and Member of Investment Committee (23 years, 9 months) |
|
Ian Bellew |
Currently: Fixed Income Manager (12 years, 3 months) |
|
Matthew Johnson |
Currently: Fixed Income Manager (5 years, 6 months) |
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 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 |
|---|---|---|
| 2024 | 9.61% | 3.82% |
| 2023 | -2.59% | -2.86% |
| 2022 | 1.06% | 0.97% |
| 2021 | 18.16% | 10.74% |
| 2020 | -1.83% | -7.23% |
| 2019 | 4.49% | 3.15% |
| 2018 | 4.41% | 4.23% |
| 2017 | 5.71% | 1.42% |
| 2016 | 3.06% | 6.59% |
| 2015 | 8.56% | 5.3% |
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 March 2024.
Top 10 Investments
-
NZD BNP Paribas A/C
New Zealand Cash and Equivalents A-16.46% -
Auckland International Airport Ltd 090528 5.67 Cb
New Zealand Fund A-5.48% -
Powerco Ltd 070330 6.397 Cb
New Zealand Fund BBB4.8% -
Toyota Finance New Zealand Ltd 061227 5.75 Cb
New Zealand Fund A+4.77% -
Westpac New Zealand Ltd 160932 6.19 Cb
New Zealand Fund AA-4.67% -
Kiwibank Ltd 191027 5.737 Gb
New Zealand Fund A+3.23% -
Westpac New Zealand Ltd 140234 6.73 Cb
New Zealand Fund AA-3.22% -
Bank Of New Zealand 010928 0.00 Cb
New Zealand Fund AA-3.2% -
Contact Energy Limited
New Zealand Australasian Equities3.17% -
Infratil Limited
New Zealand Australasian Equities3.15%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 3.5% |
| New Zealand Fixed Interest | 65.0% | 59.12% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 35.0% | 32.84% |
| International Equities | 0.0% | 0.0% |
| Listed Properties | 0.0% | 4.54% |
| 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 31st March 2024.