We acknowledge the impact dairying has on the NZ environment however we also note the important economic and employment contribution Fonterra and the wider dairy industry has on the wellbeing of New Zealand as a nation and it’s people. These conflicting issues mean that we may invest in Fonterra bonds from time to time however the exposure is modest.
The Fund aims to outperform the Bloomberg NZBond Credit 0+ Year Index by 0.70% p.A. Over a rolling three year period before fees, expenses and taxes. The fund aims to provide investors with regular income by constructing an actively managed investment portfolio of New Zealand bonds, deposits and cash whilst preserving the capital value.
| Value | $558M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 13th July 2009 |
| Total annual fund fees | 0.7% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.7% |
| Other management and administration charges | 0.0% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Stuart Williams |
Currently: Managing Director and Chair of Investment Committee (3 years, 0 months)
|
|
Fergus Mcdonald |
Currently: Head of Bonds & Currency and Member of Investment Committee (25 years, 9 months)
|
|
Ian Bellew |
Currently: Fixed Income Manager (14 years, 3 months)
|
|
Matthew Johnson |
Currently: Fixed Income Manager (7 years, 6 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 1.96% | 2.56% |
| 2025 | 3.78% | 5.06% |
| 2024 | 3.39% | 4.29% |
| 2023 | -0.79% | 0.23% |
| 2022 | -2.46% | -3.76% |
| 2021 | 2.15% | 2.96% |
| 2020 | 1.75% | 2.33% |
| 2019 | 2.76% | 4.36% |
| 2018 | 1.94% | 3.89% |
| 2017 | 1.52% | 1.95% |
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 2026.
Housing NZ 1.534% 10/09/2035
New Zealand NZ Fixed Interest AAA
NZ Local Govt Funding Agency 150437 2.00 Gb
New Zealand NZ Fixed Interest AAA
Bank Of New Zealand 010928 0.00 Cb
New Zealand NZ Fixed Interest AA-
Rabobank Nederlandnz 200231 4.40 Cb
Netherlands NZ Fixed Interest A+
Insurance Australia Group Ltd 150628 5.32 Cb
Australia NZ Fixed Interest BBB+
Christchurch Intl Airpor 060336 5.08 Cb
New Zealand NZ Fixed Interest A-
NZ Local Govt Funding AG 3% 15/05/2035
New Zealand NZ Fixed Interest AAA
Rabo 5.31% 05/04/2029
Netherlands NZ Fixed Interest A+
Christchurch City Hldgs 210532 4.82 Gb
New Zealand NZ Fixed Interest AA-
Westpac New Zealand Ltd 160932 6.19 Cb
New Zealand NZ Fixed Interest A
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 5.0% |
| New Zealand Fixed Interest | 100.0% | 95.0% |
| International Fixed Interest | 0.0% | 0.0% |
| 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% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 2026 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.
We acknowledge the impact dairying has on the NZ environment however we also note the important economic and employment contribution Fonterra and the wider dairy industry has on the wellbeing of New Zealand as a nation and it’s people. These conflicting issues mean that we may invest in Fonterra bonds from time to time however the exposure is modest.
The Fund aims to outperform the Bloomberg NZBond Credit 0+ Year Index by 0.70% p.A. Over a rolling three year period before fees, expenses and taxes. The fund aims to provide investors with regular income by constructing an actively managed investment portfolio of New Zealand bonds, deposits and cash whilst preserving the capital value.
| Value | $558M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 13th July 2009 |
| Total annual fund fees | 0.7% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.7% |
| Other management and administration charges | 0.0% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Stuart Williams |
Currently: Managing Director and Chair of Investment Committee (3 years, 0 months)
|
|
Fergus Mcdonald |
Currently: Head of Bonds & Currency and Member of Investment Committee (25 years, 9 months)
|
|
Ian Bellew |
Currently: Fixed Income Manager (14 years, 3 months)
|
|
Matthew Johnson |
Currently: Fixed Income Manager (7 years, 6 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 1.96% | 2.56% |
| 2025 | 3.78% | 5.06% |
| 2024 | 3.39% | 4.29% |
| 2023 | -0.79% | 0.23% |
| 2022 | -2.46% | -3.76% |
| 2021 | 2.15% | 2.96% |
| 2020 | 1.75% | 2.33% |
| 2019 | 2.76% | 4.36% |
| 2018 | 1.94% | 3.89% |
| 2017 | 1.52% | 1.95% |
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 2026.
Housing NZ 1.534% 10/09/2035
New Zealand NZ Fixed Interest AAA
NZ Local Govt Funding Agency 150437 2.00 Gb
New Zealand NZ Fixed Interest AAA
Bank Of New Zealand 010928 0.00 Cb
New Zealand NZ Fixed Interest AA-
Rabobank Nederlandnz 200231 4.40 Cb
Netherlands NZ Fixed Interest A+
Insurance Australia Group Ltd 150628 5.32 Cb
Australia NZ Fixed Interest BBB+
Christchurch Intl Airpor 060336 5.08 Cb
New Zealand NZ Fixed Interest A-
NZ Local Govt Funding AG 3% 15/05/2035
New Zealand NZ Fixed Interest AAA
Rabo 5.31% 05/04/2029
Netherlands NZ Fixed Interest A+
Christchurch City Hldgs 210532 4.82 Gb
New Zealand NZ Fixed Interest AA-
Westpac New Zealand Ltd 160932 6.19 Cb
New Zealand NZ Fixed Interest A
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 5.0% |
| New Zealand Fixed Interest | 100.0% | 95.0% |
| International Fixed Interest | 0.0% | 0.0% |
| 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% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 2026 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.
