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:

  • Adult Entertainment/Pornography
  • Alcohol
  • Animal Cruelty
  • Fossil Fuels
  • Gambling
  • GMOs
  • Human Rights & Environmental Violations
  • Palm Oil
  • Tobacco
  • Weapons

Companies of concern

    • Contact Energy Ltd 2.19%
    • Santos Ltd 1.03%
    • Cheniere Energy Inc 0.90%
    • Shell PLC 0.86%
    • Rwe AG 0.26%
    • Ampol Ltd 0.05%
    • Viva Energy Group Ltd 0.03%
    • BHP Group Ltd 0.02%
    • Enbridge Inc 0.02%
    • Eog Resources Inc 0.02%
    • Kinder Morgan Inc 0.02%
    • Oneok Inc 0.02%
    • South32 Ltd 0.02%
    • Tc Energy Corp 0.02%
    • Williams Cos Inc 0.02%
    • Antero Midstream Corp 0.01%
    • Energy Transfer Lp 0.01%
    • Enlink Midstream Llc 0.01%
    • Enterprise Produ 0.01%
    • Magellan Midstre 0.01%
    • Mplx Lp 0.01%
    • Pembina Pipeline Corp 0.01%
    • Targa Resources Corp 0.01%
    • Pernod Ricard SA 0.05%
    • Shell PLC 0.86%
    • Meta Platforms Inc 0.04%
    • BHP Group Ltd 0.02%
    • Energy Transfer Lp 0.01%
    • Shell PLC 0.86%
    • Graincorp Ltd 0.03%

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. 2022 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

The Fund’s objective is to provide income and capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of four years.
It is a diversified fund that primarily invests in fixed interest and equity income-generating securities.

Value $2.8B NZD
Period of data report 31st Dec. 2022
Fund started 1st April 2010
Total annual fund fees 0.99%
Total performance based fees 0.34%
Manager's basic fee 0.64%
Other management and administration charges 0.01%
Total other charges 0.0
Total other charges currency NZD

Paul Morris

Currently: Portfolio Manager (6 years, 11 months)
Previously: Head of Portfolio Strategy and Fixed Income at Macquarie Private Wealth, New Zealand (4 years, 6 months)

Dan Simmonds

Currently: Portfolio Manager (3 years, 3 months)
Previously: Senior Portfolio Manager at RARE Infrastructure (2 years, 4 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.

Investment Exclusions

Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.

Issue of concern Does this fund say it excludes this? Actual holdings
Adult Entertainment /Pornography 0.00%
Alcohol 0.05%
Animal Cruelty 0.89%
Fossil Fuels 5.60%
Gambling 0.01%
GMOs 0.00%
Human Rights & Environmental Violations 0.94%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 0.00%

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. 2022 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.

Note that many funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons. Similarly Mindful Money uses a broader scope for fossil fuels than the government’s rules for default KiwiSaver funds. The full definitions used in the Mindful Money analysis are here.

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
2022 -0.26% 4.02%
2021 8.99% 12.97%
2020 0.27% -2.03%
2019 4.19% 8.29%
2018 3.39% 5.18%
2017 3.28% 8.03%
2016 2.92% 8.02%
2015 8.63% 15.08%
2014 5.69% 8.54%
2013 8.30% 16.98%

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. 2022.

Top 10 Investments

  • NZ Government Inflation Indexed 2.00% 20/09/2025
    New Zealand NZ Fixed Interest AAA
    3.24%
  • Contact Energy Ltd
    New Zealand Australasian Equities
    2.15%
  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    1.73%
  • Origin Energy Ltd
    Australia Australasian Equities
    1.67%
  • Telstra Corp Ltd
    Australia Australasian Equities
    1.62%
  • Getlink S.E.
    France International Equities
    1.53%
  • Ameren Corporation
    United States International Equities
    1.46%
  • Goodman Group
    Australia Listed Property
    1.4%
  • Nzdusd Currency Forward 18/01/2023 (BNZ)
    New Zealand Other AA-
    1.34%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    1.26%
Type Target Actual
Cash and Cash Equivalents 4.95049505% 18.67%
New Zealand Fixed Interest 9.900990099% 10.59%
International Fixed Interest 44.55445545% 41.01%
Australasian Equities 16.83168317% 12.01%
International Equities 4.95049505% 7.99%
Listed Properties 18.81188119% 7.54%
Unlisted Properties 0.0% 0.0%
Other 0.0% 2.19%
Commodities 0.0% 0.0%

Investment Mix

How the money in this fund is invested against the fund's targets.

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.