Funds

Nikko AM Income Fund

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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
    • Genesis Energy Ltd 2.36%

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 $2.97M NZD
Period of data report 30th June 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, 3 months)
Previously: Head of Equities – Nikko Asset Management New Zealand Limited (8 years, 7 months)

Fergus Mcdonald

Currently: Head of Bonds & Currency and Member of Investment Committee (24 years, 0 months)
Previously: NZ Fixed Interest Portfolio Manager - Nikko Asset Management New Zealand Limited (10 years, 5 months)

Ian Bellew

Currently: Fixed Income Manager (12 years, 6 months)
Previously: Cash Portfolio Manager -Nikko Asset Management New Zealand Limited (4 years, 9 months)

Matthew Johnson

Currently: Fixed Income Manager (5 years, 9 months)
Previously: Senior Strategy Analyst - The Comfort Group (2 years, 6 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 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 30th June 2024.

Top 10 Investments

  • Powerco Ltd 070330 6.397 Cb
    New Zealand NZ Fixed Interest BBB
    5.29%
  • Westpac New Zealand Ltd 160932 6.19 Cb
    New Zealand NZ Fixed Interest A
    5.09%
  • Infratil Limited
    New Zealand Australasian Equities
    4.03%
  • Auckland International Airport Ltd 090528 5.67 Cb
    New Zealand NZ Fixed Interest A-
    3.78%
  • Westpac New Zealand Ltd 140234 6.73 Cb
    New Zealand NZ Fixed Interest A
    3.51%
  • Bank Of New Zealand
    New Zealand Australasian Equities BBB+
    3.47%
  • Kiwibank Ltd 191027 5.737 Gb
    New Zealand NZ Fixed Interest A+
    3.46%
  • Spark Finance Ltd 180931 5.45 Cb
    New Zealand NZ Fixed Interest A-
    3.42%
  • Christchurch International Airport 150431 5.44 Cb
    New Zealand NZ Fixed Interest A-
    3.42%
  • Industrial and Commercial Bank Of China New 090429 5.784 Gb
    New Zealand NZ Fixed Interest A
    3.4%
Type Target Actual
Cash and Cash Equivalents 0.0% 1.85%
New Zealand Fixed Interest 65.0% 58.95%
International Fixed Interest 0.0% 0.0%
Australasian Equities 35.0% 34.8%
International Equities 0.0% 0.0%
Listed Properties 0.0% 4.4%
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 June 2024.