ASB Balanced Fund

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Fund type: Balanced fund

Past Returns: 5.38%

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

Annual Fees: 1.14%

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 0.65%
BHP Group Ltd 0.55%
Genesis Energy Ltd 0.16%
Enbridge Inc 0.12%
Marathon Petroleum Corp 0.12%
Cheniere Energy Inc 0.11%
Nextera Energy Inc 0.11%
Kinder Morgan Inc 0.10%
Phillips 66 0.10%
Tc Energy Corporation 0.09%
Valero Energy Corp 0.09%
Williams Cos Inc 0.09%
Oneok Inc 0.08%
Targa Resources Corp 0.08%
Glencore PLC 0.07%
Neste Oyj 0.07%
Pembina Pipeline Corp 0.07%
Snam Spa 0.07%
Ampol Ltd 0.06%
Duke Energy Corp 0.06%
Keyera Corp 0.06%
Parkland Corporation 0.06%
Southern Co 0.06%
Altagas Ltd 0.05%
Anglo American PLC 0.05%
Iberdrola SA 0.05%
South32 Ltd 0.05%
Viva Energy Group Ltd 0.05%
American Electric Power 0.04%
Apa Group 0.04%
Sempra 0.04%
Consolidated Edison Inc 0.03%
Enel Spa 0.03%
Mitsubishi Corp 0.03%
Mitsui & Co Ltd 0.03%
National Grid PLC 0.03%
Origin Energy Ltd 0.03%
Xcel Energy Inc 0.03%
Aes Corp 0.02%
Ameren Corporation 0.02%
Ck Asset Holdings Ltd 0.02%
Ck Hutchison Holdings Ltd 0.02%
Constellation Energy Group 0.02%
Cosan SA 0.02%
Dte Energy Company 0.02%
Engie 0.02%
Entergy Corp 0.02%
Hd Hyundai 0.02%
Itochu Corp 0.02%
Keppel Corp Ltd 0.02%
Marubeni Corp 0.02%
Posco Holdings Inc 0.02%
Ppl Corporation 0.02%
Public Service Enterprise Group 0.02%
Qatar Gas Transport Co Ltd 0.02%
Rabigh Refining & Petrochemical Co 0.02%
Rwe AG 0.02%
Sumitomo Corp 0.02%
Wec Energy Group Inc 0.02%
Alliant Energy Corp 0.01%
Arcelormittal 0.01%
Astra International Tbk Pt 0.01%
Atmos Energy Corp 0.01%
Cez As 0.01%
China Longyuan Power Group-H 0.01%
China Suntien Green Energy-H 0.01%
Clp Holdings Ltd 0.01%
Cms Energy Corp 0.01%
Cosco Shipping Energy Transportation Co Ltd 0.01%
Edp-Energias De Portugal SA 0.01%
Emera Inc 0.01%
Evergy Inc 0.01%
Fortis Inc 0.01%
Hapvida Participacoes E Investimentos SA 0.01%
Huadian Power International Corp Ltd 0.01%
Jardine Matheson Hldgs Ltd 0.01%
Kansai Electric Power Co Inc 0.01%
Loews Corp 0.01%
Naturgy Energy Group S.A. 0.01%
Nippon Steel Corp 0.01%
Nippon Yusen Kk 0.01%
Nisource Inc 0.01%
Nrg Energy Inc 0.01%
Oci 0.01%
Osaka Gas Co Ltd 0.01%
Petronas Dagangan Bhd 0.01%
Ptt Oil & Retail Business Pcl 0.01%
Samsung C&T Corp 0.01%
Saudi Electricity Co 0.01%
Sk Inc 0.01%
Taiwan Cement 0.01%
Tokyo Gas Co Ltd 0.01%
Ugi Corp 0.01%
Vistra Corp 0.01%

Weapons

Heico Corp 0.07%
Transdigm Group Inc 0.06%
Kongsberg Gruppen Asa 0.04%
Amphenol Corp-Cl A 0.02%
Mtu Aero Engines AG 0.02%
Walmart De Mexico-Ser V 0.02%
Booz Allen Hamilton Holdings 0.01%
Icl Group Ltd 0.01%
Rheinmetall AG 0.01%
Rolls-Royce Holdings PLC 0.01%

Tobacco

Alimentation Couche-Tard Inc 0.04%

Gambling

Skycity Entertainment Group 0.23%
Aristocrat Leisure Ltd 0.06%
Vici Properties Inc 0.06%
Gaming and Leisure Properties Inc 0.02%
Caesars Entertainment Inc 0.01%
Entain PLC 0.01%
Evolution Ab 0.01%
Flutter Entertainment PLC 0.01%
Galaxy Entertainment Group L 0.01%
Greek Organization Of Football Prognostics 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

Caesars Entertainment Inc 0.01%
Mgm Resorts International 0.01%

Alcohol

Diageo PLC 0.10%
Constellation Brands Inc-A 0.06%
Anheuser-Busch Inbev SA/Nv 0.05%
Brown-Forman Corp-Class B 0.04%
Pernod-Ricard SA 0.04%
Endeavour Group Ltd/Australia 0.03%
Treasury Wine Estates Ltd 0.03%
Heineken Nv 0.02%
Kirin Holdings Co Ltd 0.02%
Kweichow Moutai Co Ltd 0.02%
Molson Coors Beverage Co 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%
Davide Campari-Milano Nv 0.01%
Heineken Holding Nv 0.01%
Metcash Ltd 0.01%
Remy Cointreau 0.01%
Tsingtao Brewery Co Ltd-H 0.01%
Wuliangye Yibin Co Ltd 0.01%

Palm Oil

Astra International Tbk Pt 0.01%
Wilmar International Ltd 0.01%

GMOs

Corteva Inc 0.04%

Human Rights & Environmental Violations

BHP Group Ltd 0.55%
Johnson & Johnson 0.31%
Meta Platforms Inc 0.22%
Nestle SA-Reg 0.22%
Thermo Fisher Scientific Inc 0.14%
Rio Tinto Ltd 0.10%
Catterpillar Inc 0.07%
Glencore PLC 0.07%
Duke Energy Corp 0.06%
Rio Tinto PLC 0.06%
Activision Blizzard Inc 0.04%
Archer-Daniels-Midland Co 0.04%
Bayer AG-Reg 0.04%
Corteva Inc 0.04%
Freeport-Mcmoran Inc 0.04%
Nutrien Ltd 0.04%
Basf Se 0.03%
Uber Technologies Inc 0.03%
Barrick Gold Corp 0.02%
Li Ning Co Ltd 0.02%
Motorola Solutions Inc 0.02%
Astra International Tbk Pt 0.01%
Bank Hapoalim Bm 0.01%
Bank Leumi Le-Israel 0.01%
Credit Suisse Group AG-Reg 0.01%
Fmc Corp 0.01%
Formosa Chemicals & Fibre 0.01%
Israel Discount Bank-A 0.01%
Jbs SA 0.01%
Mizrahi Tefahot Bank Ltd 0.01%
Nissan Chemical Corp 0.01%
Nufarm Ltd 0.01%
Southern Copper Corp 0.01%
Wilmar International Ltd 0.01%

Animal Testing

Procter & Gamble Co 0.23%
Nestle SA-Reg 0.22%
Coca-Cola Co 0.18%
Pepsico Inc 0.17%
LVMH Moet Hennessy Vuitton ( Se ) 0.12%
Unilever PLC 0.08%
Constellation Brands Inc-A 0.06%
L'Oreal 0.06%
Mondelez International - W/I 0.06%
3M Co 0.05%
Air Liquide-Prime Fidelite Regd 0.05%
Archer-Daniels-Midland Co 0.04%
Bayer AG-Reg 0.04%
Colgate-Palmolive Company 0.04%
Corteva Inc 0.04%
Estee Lauder Companies-Cl A 0.04%
Nutrien Ltd 0.04%
Sherwin-Williams Co 0.04%
Albemarle Corp 0.03%
Basf Se 0.03%
Dow Inc 0.03%
Ecolab Inc 0.03%
General Mills Inc 0.03%
Kering SA 0.03%
Kimberly-Clark Corp 0.03%
Mitsubishi Corp 0.03%
Ping An Insurance Group Co-H 0.03%
Daikin Industries Ltd 0.02%
Denso Corp 0.02%
Groupe Danone 0.02%
Hermes International 0.02%
Molson Coors Beverage Co 0.02%
Mosaic Co 0.02%
Orica Ltd 0.02%
PPG Industries Inc 0.02%
Tyson Foods Inc-Cl A 0.02%
Yara International Asa 0.02%
Ajinomoto Co Inc 0.01%
Almarai Co Jsc 0.01%
Asahi Group Holdings Ltd 0.01%
Avantor Inc 0.01%
Burberry Group PLC 0.01%
Campbell Soup Co 0.01%
Canon Inc 0.01%
Celanese Corp-Series A 0.01%
Church & Dwight Co Inc 0.01%
Clorox Company 0.01%
Croda International PLC 0.01%
Dcc PLC 0.01%
Eastman Chemical Co 0.01%
Entegris Inc 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 Bruxelles Lambert SA 0.01%
Grupo Mexico Sab 0.01%
Hormel Foods Corp 0.01%
Icl Group Ltd 0.01%
Intertek Group PLC 0.01%
Jbs SA 0.01%
Kao Corp 0.01%
Kikkoman Corp 0.01%
Koninklijke Ahold Delhaize Nv 0.01%
Koninklijke Dsm Nv 0.01%
Nan Ya Plastics Corp 0.01%
Nissan Chemical Corp 0.01%
Novozymes A/S-B Shares 0.01%
Nufarm Ltd 0.01%
Otsuka Holdings Co Ltd 0.01%
Petronas Chemicals Group Bhd 0.01%
Ping An Insurance Group Co Of China Ltd 0.01%
Rentokil Initial PLC 0.01%
Rpm International Inc 0.01%
Sahara International Petrochemical Co 0.01%
Shiseido Co Ltd 0.01%
Solvay SA 0.01%
Symrise AG 0.01%
Tesco PLC 0.01%
Ultrapar Participacoes SA 0.01%
Umicore SA 0.01%
Wanhua Chemical Group Co Ltd 0.01%
Westlake Corporation 0.01%
Wilmar International Ltd 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% 0.16%
2021 17.46% 19.49%
2020 -1.59% -3.5%
2019 4.47% 6.57%
2018 4.41% 6.38%
2017 5.71% 7.42%
2016 3.06% 3.12%
2015 8.56% 12.48%
2014 6.13% 6.66%
2013 8.77% 9.29%

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%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    2.67%
  • Citibank Bank Account USD
    United States Cash and Equivalents A-1
    1.69%
  • Apple Inc
    United States International Equities
    1.56%
  • Westpac Money Market Deposit Account NZD
    New Zealand Cash and Equivalents A-1+
    1.2%
  • New Zealand Government 5.5 15/04/2023
    New Zealand NZ Fixed Interest AAA
    1.18%
  • Microsoft Corporation
    United States International Equities
    1.18%
  • Fisher & Paykel Healthcare Corporation Ltd
    New Zealand Australasian Equities
    1.17%
  • New Zealand Government 0.5 15/05/2024
    New Zealand NZ Fixed Interest AAA
    1.11%
  • New Zealand Government 4.5 15/04/2027
    New Zealand NZ Fixed Interest AAA
    1.06%

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 3.0% 3.43%
New Zealand Fixed Interest 19.0% 17.81%
International Fixed Interest 18.0% 17.13%
Australasian Equities 25.0% 17.68%
International Equities 29.0% 38.72%
Listed Properties 2.5% 2.15%
Unlisted Properties 0.0% 0.0%
Other 3.5% 0.0%
Commodities 0.0% 3.08%

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:
    0.02%
  • Alcohol:
    0.54%
  • Animal Testing:
    2.51%
  • Fossil Fuels:
    4.38%
  • Gambling:
    0.48%
  • GMOs:
    0.04%
  • Human Rights & Environmental Violations:
    2.29%
  • Palm Oil:
    0.02%
  • Tobacco:
    0.04%
  • Weapons:
    0.27%

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

Value $550M NZD
Period of data report Fri Sept. 30th 2022
Fund started Thu Oct. 11th 2007
Total annual fund fees 1.14%
Total performance based fees 0.0%
Manager's basic fee 1.1%
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.