ASB Conservative Plus Fund

Not Mindful

Type: Conservative fund

Past Returns: 2.97%

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

Annual Fees: 1.04%

Annual fees, including any membership and % management 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

Apa Group 0.08%
Beach Energy Ltd 0.01%
BHP Billiton Finance Usa Ltd 5 30/09/2043 0.01%
BHP Group Ltd 0.59%
BP PLC 0.01%
Caltex Australia Ltd 0.04%
Chevron Corp 0.01%
China Petroleum & Chemical-H 0.01%
Cnooc Ltd 0.01%
Cnooc Nexen Finance 2014 Ulc 4.25 30/04/2024 0.01%
Dominion Energy Incorporated 0.01%
Exxon Mobil Corporation 0.01%
Gazprom PJSC 0.01%
Lukoil PJSC 0.01%
Nextera Energy Inc 0.01%
Oil Search Ltd 0.02%
Origin Energy Ltd 0.05%
Reliance Industries Ltd 0.02%
Royal Dutch Shell PLC 'A' Ord 0.01%
Royal Dutch Shell PLC-B Shs 0.01%
Santos Ltd 0.04%
South32 Ltd 0.06%
Total SA 0.01%
Viva Energy Group Ltd 0.01%
Washington H. Soul Pattinson 0.01%
Whitehaven Coal Ltd 0.01%
Woodside Petroleum Ltd 0.12%

Weapons

The Boeing Company 0.01%
United Technologies Corp 0.01%
United Technologies Corp 4.625 16/11/2048 0.01%

Gambling

Aristocrat Leisure Ltd 0.09%
Crown Resorts Ltd 0.02%
Skycity Entertainment Group 0.18%
Tabcorp Holdings Ltd 0.03%
The Star Entertainment Group Ltd 0.01%

Alcohol

Anheuser-Busch Cos Llc / Anheuser-Busch 4.7 01/02/2036 0.01%
Anheuser-Busch Inbev Worldwide Inc 5.8 23/01/2059 0.01%
Diageo PLC 0.01%
Kweichow Moutai Co Ltd 0.01%
LVMH Moet Hennessy Vuitton ( Se ) 0.01%
Metcash Ltd 0.02%
Treasury Wine Estates Ltd 0.05%

GMOs

Novartis AG-Reg 0.01%

Human Rights & Environmental Violations

BHP Billiton Finance Usa Ltd 5 30/09/2043 0.01%
BHP Group Ltd 0.59%
Chevron Corp 0.01%
Duke Energy Corp 0.01%
Johnson & Johnson 0.03%
Mining and Metallurgical Company Norilsk Nickel Ojsc 0.01%
Nestle SA-Reg 0.03%
Rio Tinto Ltd 0.22%
Royal Dutch Shell PLC 'A' Ord 0.01%
Royal Dutch Shell PLC-B Shs 0.01%
Vale SA 0.01%

Animal Testing

Air Liquide SA 0.010%
Chevron Corp 0.010%
Coca-Cola Co 0.020%
Glaxosmithkline PLC 0.010%
Johnson & Johnson 0.030%
L'Oreal 0.010%
LVMH Moet Hennessy Vuitton ( Se ) 0.010%
Nestle SA-Reg 0.030%
Pepsico Inc 0.010%
Procter & Gamble Co 0.020%
Royal Dutch Shell PLC 'A' Ord 0.010%
Royal Dutch Shell PLC-B Shs 0.010%
Unilever Nv 0.010%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Tue March 31st 2020 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 and research organisations.

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
2020	-0.18%	-0.3%
2019	4.54%	5.55%
2018	3.22%	3.66%
2017	3.53%	4.03%
2016	2.92%	3.39%
2015	8.63%	8.3%
2014	5.69%	3.26%
2013	8.30%	6.25%
2012	2.27%	1.81%
2011	4.69%	4.67%

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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

Westpac Money Market Deposit Account NZD
New Zealand Cash and Equivalents A-1+

6.17%
Fisher & Paykel Healthcare Corporation Ltd
New Zealand Australasian Equities

2.68%
Certificate Of Deposit Rcd ASB Bank 07/09/2020
New Zealand Cash and Equivalents A-1+

2.62%
A2 Milk Co Ltd
New Zealand Australasian Equities

2.03%
ASB Bank Account NZD
New Zealand Cash and Equivalents A-1+

1.91%
Certificate Of Deposit Rcd ASB Bank 24/08/2020
New Zealand Cash and Equivalents A-1+

1.9%
New Zealand Government 5.5 15/04/2023
New Zealand NZ Fixed Interest AA+

1.83%
New Zealand Government 2.75 15/04/2025
New Zealand NZ Fixed Interest AA+

1.69%
New Zealand Government 6 15/05/2021
New Zealand NZ Fixed Interest AA+

1.6%
New Zealand Government 3 20/04/2029
New Zealand NZ Fixed Interest AA+

1.46%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Tue June 30th 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	12.0%	17.37%
New Zealand Fixed Interest	21.5%	30.39%
International Fixed Interest	36.5%	21.54%
Australasian Equities	14.5%	25.71%
International Equities	15.5%	4.99%
Listed Properties	0.0%	0.0%
Unlisted Properties	0.0%	0.0%
Other	0.0%	0.0%
Commodities	0.0%	0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a 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:

0.12%
Animal Testing:

0.20%
Fossil Fuels:

1.21%
Gambling:

0.33%
GMOs:

0.01%
Human Rights & Environmental Violations:

0.94%
Palm Oil:

0.00%
Tobacco:

0.00%
Weapons:

0.03%

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"To provide modest to moderate total returns allowing for modest to moderate movements of value up and down. The number of years with negative returns are generally expected to be higher than the Conservative Fund but lower than the Moderate Fund 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 Plus Fund invests in income and growth assets with a target investment mix of 70% income assets and 30% growth assets."

Value	$770M NZD
Period of data report	Tue June 30th 2020
Members	3,169
Fund started	Fri Oct. 12th 2007
Total annual fund fees	1.04%
Total performance based fees	0.0%
Manager's basic fee	1.0%
Administration charges	0.04%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Nigel Annett	Currently: Investment Committee member (6 years, 3 months) Previously: Executive GM Corporate Banking ASB Bank (current position) (1 years, 8 months)
Jonathan Beale	Currently: Investment Committee member (5 years, 10 months) Previously: General Manager Wealth & Insurance Distribution ASB Bank (current position) (0 years, 8 months)
Adam Boyd	Currently: Investment Committee member (4 years, 1 months) Previously: Executive GM Private Banking Wealth & Insurance ASB Bank (current position) (4 years, 1 months)
Graeme Edwards	Currently: Investment Committee Chairman (0 years, 8 months) Previously: Investment Committee member (8 years, 6 months)
John Smith	Currently: Investment Committee member (9 years, 1 months) Previously: Head of Asset Management; and Acting General Manager Private Banking Wealth & Insurance Product ASB Bank (current position) (8 years, 1 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v