ASB Conservative Fund

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Fund type: Conservative fund

Past Returns: 1.40%

Average annual returns over the past 3 years, after fees and taxes. * indicates less than 3 years of data.

Annual Fees: 0.94%

Annual fees, including management and administration fees, but not membership fee.

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.


Fossil Fuel

Altagas Ltd 0.02%
Ampol Ltd 0.02%
Anglo American PLC 0.01%
Apa Group 0.01%
BHP Group Ltd 0.24%
Cheniere Energy Inc 0.03%
Cosan SA 0.01%
Enbridge Inc 0.04%
Enbridge Inc 1.6 04/10/2026 0.01%
Engie 0.01%
Glencore PLC 0.01%
Itochu Corp 0.01%
Keyera Corp 0.02%
Kinder Morgan Inc 0.03%
Lyondellbasell Indu-Cl A 0.01%
Marathon Petroleum Corp 0.03%
Marathon Petroleum Corp 4.7 01/05/2025 0.01%
Mitsubishi Corp 0.01%
Mitsui & Co Ltd 0.01%
Oneok Inc 0.03%
Oneok Inc 5.2 15/07/2048 0.01%
Origin Energy Ltd 0.01%
Parkland Corporation 0.02%
Pembina Pipeline Corp 0.02%
Phillips 66 0.03%
Public Service Enterprise Group 0.01%
Snam Spa 0.01%
South32 Ltd 0.02%
Sumitomo Corp 0.01%
Tc Energy Corporation 0.03%
Vale SA 0.02%
Valero Energy Corp 0.03%
Viva Energy Group Ltd 0.02%
Williams Cos Inc 0.03%

Weapons

Amphenol Corp-Cl A 0.01%
Singapore Tech Engineering 0.01%
Transdigm Group Inc 0.01%

Tobacco

Alimentation Couche-Tard Inc 0.01%

Gambling

Aristocrat Leisure Ltd 0.02%
Skycity Entertainment Group 0.09%
Tabcorp Holdings Ltd 0.01%

Alcohol

Anheuser-Busch Cos Llc / Anheuser-Busch 4.9 01/02/2046 0.01%
Anheuser-Busch Inbev SA/Nv 0.01%
Anheuser-Busch Inbev Worldwide Inc 5.45 23/01/2039 0.01%
Constellation Brands Inc-A 0.01%
Diageo PLC 0.03%
Endeavour Group Ltd/Australia 0.01%
Heineken Nv 0.01%
Kweichow Moutai Co Ltd 0.01%
LVMH Moet Hennessy Vuitton ( Se ) 0.04%
Pernod-Ricard SA 0.01%
Treasury Wine Estates Ltd 0.01%

GMOs

Corteva Inc 0.01%

Human Rights & Environmental Violations

Activision Blizzard Inc 0.01%
BHP Group Ltd 0.24%
Barrick Gold Corp 0.01%
Bayer AG-Reg 0.01%
Duke Energy Corp 0.02%
Freeport-Mcmoran Inc 0.01%
Glencore PLC 0.01%
Johnson & Johnson 0.09%
Motorola Solutions Inc 0.01%
Mtn Group Ltd 0.01%
Nestle SA-Reg 0.07%
Rio Tinto Ltd 0.04%
Rio Tinto PLC 0.02%
Uber Technologies Inc 0.01%
Vale SA 0.02%

Animal Testing

Air Liquide-Prime Fidelite Regd 0.02%
Archer-Daniels-Midland Co 0.01%
Basf Se 0.01%
Bayer AG-Reg 0.01%
Coca-Cola Co 0.05%
Corteva Inc 0.01%
Dow Inc 0.01%
Dowdupont Inc 0.01%
Ecolab Inc 0.01%
Essity Aktiebo-B 0.01%
Estee Lauder Companies-Cl A 0.01%
General Mills Inc 0.01%
Givaudan-Reg 0.01%
Glaxosmithkline PLC 0.02%
Groupe Danone 0.01%
Hermes International 0.01%
Intl Flavors & Fragrances 0.01%
Johnson & Johnson 0.09%
Keurig Dr Pepper Com 0.01%
Kimberly-Clark Corp 0.01%
Koninklijke Dsm Nv 0.01%
L'Oreal 0.02%
LVMH Moet Hennessy Vuitton ( Se ) 0.04%
Linde PLC 0.03%
Lyondellbasell Indu-Cl A 0.01%
Mondelez International - W/I 0.02%
Mosaic Co 0.01%
Nestle SA-Reg 0.07%
Nutrien Ltd 0.01%
PPG Industries Inc 0.01%
Pepsico Inc 0.04%
Procter & Gamble Co 0.07%
Reckitt Benckiser 0.01%
Sherwin-Williams Co 0.01%
Shin-Etsu Chemical Co Ltd 0.01%
Tesco PLC 0.01%
Unilever PLC 0.02%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Thu March 31st 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.

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.

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% -2.37%
2021 8.99% 6.07%
2020 0.27% 0.5%
2019 4.19% 4.41%
2018 3.39% 3.15%
2017 3.28% 3.53%
2016 2.92% 3.01%
2015 8.63% 6.68%
2014 5.69% 2.87%
2013 8.30% 5.03%

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 Thu March 31st 2022.

Showing the top 10 investments for this fund:

  • Westpac Money Market Deposit Account NZD
    New Zealand Cash and Equivalents A-1+
    4.13%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    3.2%
  • Ishares Physical Gold Etc
    Ireland Commodities
    2.95%
  • Certificate Of Deposit Rcd ASB Bank 30/06/2022
    New Zealand Cash and Equivalents A-1+
    2.35%
  • New Zealand Government 5.5 15/04/2023
    New Zealand NZ Fixed Interest AAA
    1.86%
  • New Zealand Government 0.5 15/05/2024
    New Zealand NZ Fixed Interest AAA
    1.72%
  • New Zealand Government 2.75 15/04/2025
    New Zealand NZ Fixed Interest AAA
    1.48%
  • Certificate Of Deposit Rcd ASB Bank 21/06/2022
    New Zealand Cash and Equivalents A-1+
    1.44%
  • New Zealand Government 3 20/04/2029
    New Zealand NZ Fixed Interest AAA
    1.42%
  • New Zealand Government 4.5 15/04/2027
    New Zealand NZ Fixed Interest AAA
    1.36%

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

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 15.0% 10.28%
New Zealand Fixed Interest 28.5% 33.57%
International Fixed Interest 36.5% 32.77%
Australasian Equities 7.5% 7.23%
International Equities 12.5% 13.02%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 3.13%

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

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).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.16%
  • Animal Testing:
    0.74%
  • Fossil Fuels:
    0.84%
  • Gambling:
    0.12%
  • GMOs:
    0.01%
  • Human Rights & Environmental Violations:
    0.58%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.01%
  • Weapons:
    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 Thu March 31st 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 the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or their policy may be less stringent than the definitions applied by Mindful Money.

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.

In their own words

"To provide modest total returns allowing for modest movements of value up and down. The number of years with negative returns are generally expected to be less than other funds in the ASB Investment Funds. We manage asset allocation and currency hedging over the medium to long term relative to the target investment mix. We focus on cost effective management. The Conservative Fund invests in income and growth assets with a target investment mix of 80% income assets and 20% growth assets."

Value $130M NZD
Period of data report Thu March 31st 2022
Fund started Thu Oct. 11th 2007
Total annual fund fees 0.94%
Total performance based fees 0.0%
Manager's basic fee 0.9%
Other management and administration charges 0.04%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Nigel Annett

Currently: Investment Committee member (8 years, 0 months)
Previously: Executive GM Corporate Banking, ASB Bank (current position) (3 years, 5 months)

Adam Boyd

Currently: Investment Committee member (5 years, 10 months)
Previously: Executive GM Private Banking, Wealth & Insurance, ASB Bank (current position) (5 years, 10 months)

Graeme Edwards

Currently: Investment Committee Chairman (2 years, 5 months)
Previously: Investment Committee member (10 years, 3 months)

Stephen Moir

Currently: Investment Committee member (1 years, 2 months)
Previously: Director, Board of The Guardians of the NZ Superfund (previous position) (10 years, 11 months)

John Smith

Currently: Investment Committee member (10 years, 10 months)
Previously: Head of Asset Management, ASB Bank (current position) (9 years, 10 months)

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

Downloads

Download the fund's disclosure statement and portfolio holdings.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.