ASB Moderate Fund

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Fund type: Balanced fund

Past Returns: 2.71%

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

Annual Fees: 1.09%

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

Contact Energy Ltd 0.50%
BHP Group Ltd 0.43%
Genesis Energy Ltd 0.13%
Cheniere Energy Inc 0.07%
Enbridge Inc 0.07%
Marathon Petroleum Corp 0.07%
Nextera Energy Inc 0.07%
Kinder Morgan Inc 0.06%
Phillips 66 0.06%
Williams Cos Inc 0.06%
Ampol Ltd 0.05%
Oneok Inc 0.05%
Targa Resources Corp 0.05%
Tc Energy Corporation 0.05%
Valero Energy Corp 0.05%
Glencore PLC 0.04%
Keyera Corp 0.04%
Neste Oyj 0.04%
Parkland Corporation 0.04%
Pembina Pipeline Corp 0.04%
Snam Spa 0.04%
South32 Ltd 0.04%
Southern Co 0.04%
Viva Energy Group Ltd 0.04%
Altagas Ltd 0.03%
Anglo American PLC 0.03%
Apa Group 0.03%
Duke Energy Corp 0.03%
Iberdrola SA 0.03%
American Electric Power 0.02%
Consolidated Edison Inc 0.02%
Enel Spa 0.02%
Mitsubishi Corp 0.02%
Mitsui & Co Ltd 0.02%
National Grid PLC 0.02%
Origin Energy Ltd 0.02%
Sempra 0.02%
Xcel Energy Inc 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 Asset Holdings Ltd 0.01%
Ck Hutchison Holdings Ltd 0.01%
Cms Energy Corp 0.01%
Constellation Energy Group 0.01%
Cosan SA 0.01%
Cosco Shipping Energy Transportation Co Ltd 0.01%
Dte Energy Company 0.01%
Edp-Energias De Portugal SA 0.01%
Enbridge Inc 1.6 04/10/2026 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%
Jardine Matheson Hldgs Ltd 0.01%
Keppel Corp Ltd 0.01%
Loews Corp 0.01%
Marathon Petroleum Corp 4.7 01/05/2025 0.01%
Marubeni Corp 0.01%
Nisource Inc 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%
Taiwan Cement 0.01%
Vistra Corp 0.01%
Wec Energy Group Inc 0.01%

Weapons

Heico Corp 0.04%
Transdigm Group Inc 0.04%
Kongsberg Gruppen Asa 0.02%
Amphenol Corp-Cl A 0.01%
Booz Allen Hamilton Holdings 0.01%
Icl Group Ltd 0.01%
Mtu Aero Engines AG 0.01%
Rheinmetall AG 0.01%
Rolls-Royce Holdings PLC 0.01%
Walmart De Mexico-Ser V 0.01%

Tobacco

Alimentation Couche-Tard Inc 0.03%

Gambling

Skycity Entertainment Group 0.18%
Aristocrat Leisure Ltd 0.05%
Vici Properties Inc 0.04%
Gaming and Leisure Properties Inc 0.02%
Evolution Ab 0.01%
Flutter Entertainment PLC 0.01%
Galaxy Entertainment Group L 0.01%
Las Vegas Sands Corp 0.01%
Mgm Resorts International 0.01%
Tabcorp Holdings Ltd 0.01%
The Star Entertainment Group Ltd 0.01%
Wynn Resorts Ltd 0.01%

Adult Entertainment/Pornography

Mgm Resorts International 0.01%

Alcohol

Diageo PLC 0.06%
Constellation Brands Inc-A 0.04%
Anheuser-Busch Inbev SA/Nv 0.03%
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%
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 0.03%

Human Rights & Environmental Violations

BHP Group Ltd 0.43%
Johnson & Johnson 0.19%
Meta Platforms Inc 0.14%
Nestle SA-Reg 0.13%
Thermo Fisher Scientific Inc 0.09%
Rio Tinto Ltd 0.08%
Catterpillar Inc 0.04%
Glencore PLC 0.04%
Rio Tinto PLC 0.04%
Activision Blizzard Inc 0.03%
Corteva Inc 0.03%
Duke Energy Corp 0.03%
Freeport-Mcmoran Inc 0.03%
Archer-Daniels-Midland Co 0.02%
Basf Se 0.02%
Bayer AG-Reg 0.02%
Nutrien Ltd 0.02%
Uber Technologies Inc 0.02%
Bank Leumi Le-Israel 0.01%
Barrick Gold Corp 0.01%
Credit Suisse Group AG-Reg 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%

Animal Testing

Procter & Gamble Co 0.14%
Nestle SA-Reg 0.13%
Coca-Cola Co 0.11%
Pepsico Inc 0.10%
LVMH Moet Hennessy Vuitton ( Se ) 0.07%
Unilever PLC 0.05%
Constellation Brands Inc-A 0.04%
L'Oreal 0.04%
Mondelez International - W/I 0.04%
3M Co 0.03%
Air Liquide-Prime Fidelite Regd 0.03%
Colgate-Palmolive Company 0.03%
Corteva Inc 0.03%
Albemarle Corp 0.02%
Archer-Daniels-Midland Co 0.02%
Basf Se 0.02%
Bayer AG-Reg 0.02%
Dow Inc 0.02%
Ecolab Inc 0.02%
Estee Lauder Companies-Cl A 0.02%
General Mills Inc 0.02%
Kering SA 0.02%
Kimberly-Clark Corp 0.02%
Mitsubishi Corp 0.02%
Nutrien Ltd 0.02%
Ping An Insurance Group Co-H 0.02%
Sherwin-Williams Co 0.02%
Ajinomoto Co Inc 0.01%
Asahi Group Holdings Ltd 0.01%
Avantor Inc 0.01%
Burberry Group PLC 0.01%
Canon Inc 0.01%
Celanese Corp-Series A 0.01%
Church & Dwight Co Inc 0.01%
Croda International PLC 0.01%
Daikin Industries Ltd 0.01%
Denso Corp 0.01%
Eastman Chemical Co 0.01%
Fmc Corp 0.01%
Formosa Chemicals & Fibre 0.01%
Formosa Plastics Corp 0.01%
Fujifilm Holdings Corp 0.01%
Graincorp Ltd 0.01%
Groupe Danone 0.01%
Grupo Mexico Sab 0.01%
Hermes International 0.01%
Hormel Foods Corp 0.01%
Icl Group Ltd 0.01%
Kao 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%
Novozymes A/S-B Shares 0.01%
Nufarm Ltd 0.01%
Orica Ltd 0.01%
Otsuka Holdings Co Ltd 0.01%
PPG Industries Inc 0.01%
Rentokil Initial PLC 0.01%
Rpm International Inc 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 Fri Sept. 30th 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.

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 0.34% -1.4%
2021 17.46% 11.73%
2020 -1.59% -2.19%
2019 4.47% 5.63%
2018 4.41% 4.54%
2017 5.71% 4.98%
2016 3.06% 3.4%
2015 8.56% 9.68%
2014 6.13% 4.28%
2013 8.77% 7.42%

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 Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • Ishares Physical Gold Etc
    Ireland Commodities
    3.13%
  • Westpac Money Market Deposit Account NZD
    New Zealand Cash and Equivalents A-1+
    2.55%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    2.41%
  • Citibank Bank Account USD
    United States Cash and Equivalents A-1
    1.52%
  • New Zealand Government 5.5 15/04/2023
    New Zealand NZ Fixed Interest AAA
    1.42%
  • Certificate Of Deposit Rcd ASB Bank 29/12/2022
    New Zealand Cash and Equivalents A-1+
    1.4%
  • New Zealand Government 0.5 15/05/2024
    New Zealand NZ Fixed Interest AAA
    1.33%
  • Certificate Of Deposit Rcd ASB Bank 28/12/2022
    New Zealand Cash and Equivalents A-1+
    1.31%
  • New Zealand Government 4.5 15/04/2027
    New Zealand NZ Fixed Interest AAA
    1.27%
  • New Zealand Government 2.75 15/04/2025
    New Zealand NZ Fixed Interest AAA
    1.22%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Fri Sept. 30th 2022.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 8.0% 7.28%
New Zealand Fixed Interest 26.0% 24.2%
International Fixed Interest 26.0% 26.72%
Australasian Equities 16.0% 13.73%
International Equities 22.0% 23.39%
Listed Properties 0.0% 1.61%
Unlisted Properties 0.0% 0.0%
Other 2.0% 0.0%
Commodities 0.0% 3.07%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 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).

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:
    0.31%
  • Animal Testing:
    1.51%
  • Fossil Fuels:
    2.85%
  • Gambling:
    0.37%
  • GMOs:
    0.03%
  • Human Rights & Environmental Violations:
    1.48%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.03%
  • Weapons:
    0.17%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 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.

In their own words

"To provide moderate total returns allowing for moderate movements of value up and down. The number of years with negative returns are generally expected to be higher than the Conservative Plus Fund but lower than the Balanced 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 Moderate Fund invests in income and growth assets with a target investment mix of 60% income assets and 40% growth assets."

Value $650M NZD
Period of data report Fri Sept. 30th 2022
Fund started Thu Oct. 11th 2007
Total annual fund fees 1.09%
Total performance based fees 0.0%
Manager's basic fee 1.05%
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, 6 months)
Previously: Executive GM Corporate Banking, ASB Bank (current position) (3 years, 11 months)

Adam Boyd

Currently: Investment Committee member (6 years, 4 months)
Previously: Executive GM Personal Banking, ASB Bank (current position) (0 years, 3 months)

Graeme Edwards

Currently: Investment Committee Chairman (2 years, 11 months)
Previously: Investment Committee member (10 years, 9 months)

Stephen Moir

Currently: Investment Committee member (1 years, 8 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, 4 months)
Previously: Head of Asset Management, ASB Bank (current position) (10 years, 4 months)

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