Funds

ASB Conservative Plus 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:

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

Companies of concern

  • Fossil Fuel

    • Contact Energy Ltd 0.40%
    • BHP Group Ltd 0.34%
    • Genesis Energy Ltd 0.10%
    • Enbridge Inc 0.06%
    • Cheniere Energy Inc 0.05%
    • Kinder Morgan Inc 0.05%
    • Marathon Petroleum Corp 0.05%
    • Nextera Energy Inc 0.05%
    • Phillips 66 0.05%
    • Ampol Ltd 0.04%
    • Oneok Inc 0.04%
    • Targa Resources Corp 0.04%
    • Tc Energy Corporation 0.04%
    • Valero Energy Corp 0.04%
    • Williams Cos Inc 0.04%
    • Apa Group 0.03%
    • Duke Energy Corp 0.03%
    • Glencore PLC 0.03%
    • Keyera Corp 0.03%
    • Neste Oyj 0.03%
    • Parkland Corporation 0.03%
    • Pembina Pipeline Corp 0.03%
    • Snam Spa 0.03%
    • South32 Ltd 0.03%
    • Southern Co 0.03%
    • Viva Energy Group Ltd 0.03%
    • Altagas Ltd 0.02%
    • American Electric Power 0.02%
    • Anglo American PLC 0.02%
    • Iberdrola SA 0.02%
    • Mitsubishi Corp 0.02%
    • Origin Energy Ltd 0.02%
    • Sempra 0.02%
    • Aes Corp 0.01%
    • Alliant Energy Corp 0.01%
    • Ameren Corporation 0.01%
    • Atmos Energy Corp 0.01%
    • Cez As 0.01%
    • China Suntien Green Energy-H 0.01%
    • Ck Hutchison Holdings Ltd 0.01%
    • Cms Energy Corp 0.01%
    • Consolidated Edison Inc 0.01%
    • Constellation Energy Group 0.01%
    • Cosan SA 0.01%
    • Cosco Shipping Energy Transportation Co Ltd 0.01%
    • Dte Energy Company 0.01%
    • Enbridge Inc 1.6 04/10/2026 0.01%
    • Enel Spa 0.01%
    • Engie 0.01%
    • Entergy Corp 0.01%
    • Evergy Inc 0.01%
    • Fortis Inc 0.01%
    • Hd Hyundai 0.01%
    • Itochu Corp 0.01%
    • Keppel Corp Ltd 0.01%
    • Marathon Petroleum Corp 4.7 01/05/2025 0.01%
    • Marubeni Corp 0.01%
    • Mitsui & Co Ltd 0.01%
    • National Grid PLC 0.01%
    • Oneok Inc 5.2 15/07/2048 0.01%
    • Petronas Dagangan Bhd 0.01%
    • Posco Holdings Inc 0.01%
    • Ppl Corporation 0.01%
    • Ptt Oil & Retail Business Pcl 0.01%
    • Public Service Enterprise Group 0.01%
    • Qatar Gas Transport Co Ltd 0.01%
    • Rabigh Refining & Petrochemical Co 0.01%
    • Rwe AG 0.01%
    • Sumitomo Corp 0.01%
    • Wec Energy Group Inc 0.01%
    • Xcel Energy Inc 0.01%

  • Weapons

    • Heico Corp 0.03%
    • Transdigm Group Inc 0.03%
    • Kongsberg Gruppen Asa 0.02%
    • Amphenol Corp-Cl A 0.01%
    • Icl Group Ltd 0.01%
    • Mtu Aero Engines AG 0.01%
    • Walmart De Mexico-Ser V 0.01%

  • Tobacco

    • Alimentation Couche-Tard Inc 0.02%

  • Gambling

    • Skycity Entertainment Group 0.14%
    • Aristocrat Leisure Ltd 0.04%
    • Las Vegas Sands Corp 0.01%
    • Mgm Resorts International 0.01%
    • Tabcorp Holdings Ltd 0.01%
    • The Star Entertainment Group Ltd 0.01%
    • Vici Properties Inc 0.01%

  • Adult Entertainment/Pornography

    • Mgm Resorts International 0.01%

  • Alcohol

    • Diageo PLC 0.05%
    • Constellation Brands Inc-A 0.03%
    • Anheuser-Busch Inbev SA/Nv 0.02%
    • Brown-Forman Corp-Class B 0.02%
    • Endeavour Group Ltd/Australia 0.02%
    • Pernod-Ricard SA 0.02%
    • Treasury Wine Estates Ltd 0.02%
    • Ambev SA 0.01%
    • Anheuser-Busch Inbev Worldwide Inc 5.45 23/01/2039 0.01%
    • Asahi Group Holdings Ltd 0.01%
    • Budweiser Brewing Co Apac Ltd 0.01%
    • Carlsberg As-B 0.01%
    • China Resources Beer Holdings Co Ltd 0.01%
    • Heineken Nv 0.01%
    • Kirin Holdings Co Ltd 0.01%
    • Kweichow Moutai Co Ltd 0.01%
    • Metcash Ltd 0.01%
    • Molson Coors Beverage Co 0.01%

  • GMOs

    • Corteva Inc 0.02%

  • Human Rights & Environmental Violations

    • BHP Group Ltd 0.34%
    • Johnson & Johnson 0.15%
    • Meta Platforms Inc 0.10%
    • Nestle SA-Reg 0.10%
    • Thermo Fisher Scientific Inc 0.07%
    • Rio Tinto Ltd 0.06%
    • Catterpillar Inc 0.03%
    • Duke Energy Corp 0.03%
    • Glencore PLC 0.03%
    • Rio Tinto PLC 0.03%
    • Activision Blizzard Inc 0.02%
    • Archer-Daniels-Midland Co 0.02%
    • Bayer AG-Reg 0.02%
    • Corteva Inc 0.02%
    • Freeport-Mcmoran Inc 0.02%
    • Nutrien Ltd 0.02%
    • Barrick Gold Corp 0.01%
    • Basf Se 0.01%
    • Credit Suisse/New York Ny 3.625 09/09/2024 0.01%
    • Fmc Corp 0.01%
    • Formosa Chemicals & Fibre 0.01%
    • Li Ning Co Ltd 0.01%
    • Motorola Solutions Inc 0.01%
    • Nufarm Ltd 0.01%
    • Uber Technologies Inc 0.01%

  • Animal Cruelty

    • Procter & Gamble Co 0.11%
    • Nestle SA-Reg 0.10%
    • Coca-Cola Co 0.08%
    • Pepsico Inc 0.08%
    • LVMH Moet Hennessy Vuitton ( Se ) 0.06%
    • Unilever PLC 0.04%
    • Constellation Brands Inc-A 0.03%
    • L'Oreal 0.03%
    • Mondelez International - W/I 0.03%
    • 3M Co 0.02%
    • Air Liquide-Prime Fidelite Regd 0.02%
    • Archer-Daniels-Midland Co 0.02%
    • Bayer AG-Reg 0.02%
    • Colgate-Palmolive Company 0.02%
    • Corteva Inc 0.02%
    • Estee Lauder Companies-Cl A 0.02%
    • General Mills Inc 0.02%
    • Mitsubishi Corp 0.02%
    • Nutrien Ltd 0.02%
    • Ping An Insurance Group Co-H 0.02%
    • Sherwin-Williams Co 0.02%
    • Albemarle Corp 0.01%
    • Asahi Group Holdings Ltd 0.01%
    • Basf Se 0.01%
    • Canon Inc 0.01%
    • Daikin Industries Ltd 0.01%
    • Denso Corp 0.01%
    • Dow Inc 0.01%
    • Ecolab Inc 0.01%
    • Fmc Corp 0.01%
    • Formosa Chemicals & Fibre 0.01%
    • Formosa Plastics Corp 0.01%
    • Fujifilm Holdings Corp 0.01%
    • Groupe Danone 0.01%
    • Grupo Mexico Sab 0.01%
    • Hermes International 0.01%
    • Icl Group Ltd 0.01%
    • Kao Corp 0.01%
    • Kering SA 0.01%
    • Kimberly-Clark Corp 0.01%
    • Koninklijke Ahold Delhaize Nv 0.01%
    • Koninklijke Dsm Nv 0.01%
    • Molson Coors Beverage Co 0.01%
    • Mosaic Co 0.01%
    • Nan Ya Plastics Corp 0.01%
    • Nufarm Ltd 0.01%
    • Orica Ltd 0.01%
    • PPG Industries Inc 0.01%
    • Pepsico Inc 2.75 19/03/2030 0.01%
    • Shiseido Co Ltd 0.01%
    • Tesco PLC 0.01%
    • Tyson Foods Inc-Cl A 0.01%
    • Ultrapar Participacoes SA 0.01%
    • Yara International Asa 0.01%

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

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 $570M NZD
Period of data report 31st Dec. 2022
Fund started 12th Oct. 2007
Total annual fund fees 1.04%
Total performance based fees 0.0%
Manager's basic fee 1.0%
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, 9 months)
Previously: Executive GM Corporate Banking, ASB Bank (current position) (4 years, 2 months)

Adam Boyd

Currently: Investment Committee member (6 years, 7 months)
Previously: Executive GM Personal Banking, ASB Bank (current position) (0 years, 6 months)

Graeme Edwards

Currently: Investment Committee Chairman (3 years, 2 months)
Previously: Investment Committee member (11 years, 0 months)

Stephen Moir

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

John Smith

Currently: Investment Committee member (11 years, 7 months)
Previously: Head of Asset Management, ASB Bank (current position) (10 years, 7 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 0.01%
Alcohol 0.29%
Animal Cruelty 1.13%
Fossil Fuels 2.24%
Gambling 0.23%
GMOs 0.02%
Human Rights & Environmental Violations 1.15%
Palm Oil 0.00%
Tobacco 0.02%
Weapons 0.12%

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% -2.32%
2021 8.99% 8.78%
2020 0.27% -0.3%
2019 4.19% 5.55%
2018 3.39% 3.66%
2017 3.28% 4.03%
2016 2.92% 3.39%
2015 8.63% 8.3%
2014 5.69% 3.26%
2013 8.30% 6.25%

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

  • Westpac Deposit Acc
    New Zealand Cash and Equivalents A-1+
    3.33%
  • Ishares Physical Gold Etc
    Ireland Commodities
    2.99%
  • ASB Bank Ltd 260523 Rcd
    New Zealand Cash and Equivalents A-1+
    2.39%
  • New Zealand Government 150423 5.5 Gb
    New Zealand NZ Fixed Interest AAA
    1.47%
  • New Zealand Government 150427 4.50 Gb
    New Zealand NZ Fixed Interest AAA
    1.46%
  • New Zealand Government 150524 0.50 Gb
    New Zealand NZ Fixed Interest AAA
    1.44%
  • New Zealand Government 150425 2.75 Gb
    New Zealand NZ Fixed Interest AAA
    1.44%
  • New Zealand Government 200429 3.0 Gb
    New Zealand NZ Fixed Interest AAA
    1.26%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    1.1%
  • New Zealand Govt 200935 2.50 Indexed Bond
    New Zealand NZ Fixed Interest AAA
    1.09%
Type Target Actual
Cash and Cash Equivalents 10.0% 9.36%
New Zealand Fixed Interest 27.5% 28.57%
International Fixed Interest 32.5% 30.32%
Australasian Equities 12.5% 11.14%
International Equities 17.5% 17.59%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 3.02%

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 31st Dec. 2022.