Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all managed growth funds is 5.45%.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Enbridge's ownership in the Dakota Access Pipeline and Enbridge Line 5 has been at the center of continuous legal scrutiny and controversy due to the environmental and human rights impact. These pipelines have poor regulation, significant contributions to GHG emissions from pipe leakage and affect the rights of Indigenous people.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
The Norwegian-based seafood company is heavily involved in the aquaculture industry, accounting for 23% of the global salmon market. They have been criticised for malpractice by NGO, Wildfish, for using chemical pesticides and causing animal harm in their Scottish salmon farms and by First Nation groups for environmental damage and biodiversity loss in Canada.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Manufacture and bottle Coca-Cola beverages under licence. Collectively the Coca-Cola related entities produce the most plastic rubbish in our oceans at 3 million tons of plastic packaging annually, which has devastating impacts on our oceans, wreaking havoc on wildlife and sending plastic particles into the food chain.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in intensive poultry operations, including managing direct operations which raise birds or managing a network of contracted farmers, slaughtering, packaging and onward sale to wholesalers, retailers, and restaurant chains.
JBS is one of the world’s largest food companies and exporters of beef from Brazil. Multiple sources have traced JBS meat products to illegally deforested areas in the Amazon rainforest. JBS suppliers have allegedly carried out intensive style poultry farming, which includes inhumane conditions and violent treatment of animals. Through its subsidiary, Huon Aquaculture, JBS has been linked to the inhumane death of seals by using explosives at salmon farms in Tasmania.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production or distribution of palm oil.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
South Korean global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
A global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. In 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable and irrepairable impact on the traditional owners. Also a pattern of harmful community-related incidents in West Papua, South Africa, Canada, the US and Serbia. The company also derives revenue from coal power plants through multiple associates and subsidiaries.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Enbridge's ownership in the Dakota Access Pipeline and Enbridge Line 5 has been at the center of continuous legal scrutiny and controversy due to the environmental and human rights impact. These pipelines have poor regulation, significant contributions to GHG emissions from pipe leakage and affect the rights of Indigenous people.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Genesis produces electricity from plants and distributes gas. They are expanding their portfolio of renewable assets (wind, solar farms and hydro) and options to reduce emissions from Huntly (battery technology and biomass use). However, in 2025 their total GHG emissions increased compared to FY24, driven by a 33% rise in Scope 3 emissions - primarily from the Huntly Power Station (Coal & Gas).
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Operates electric and natural gas transmission systems in the UK and US. It also operates facilities for storing LNG. including the Grain LNG terminal in the UK which is the largest LNG facility in Europe and 8th globally.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Quanta Services provides infrastructure solutions for the oil and gas industry. Companies involved in oil and gas services provide tailor-made products and services for the oil and gas sector including exploration and production.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Headquartered in Canada, TC Energy operates natural gas, oil, and power generation assets in Canada and the USA. The company operates nearly 100,000km of oil and gas pipelines, and currently has 2,170.6km of pipelines under development. Projects include Coastal GasLink.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Ampol is involved in oil and gas refining and marketing in Australia through their petroleum business. They refine and distribute crude oil through petrol, diesel and jet fuels. Ampol is Australia's largest energy distributor.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Origin Energy engages in fossil fuel production and generation in Australia and New Zealand. They produce oil and gas, engage in thermal coal fired generation and LNG exploration.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
South32 is involved in diversified metals mining in Australia, through outputs such as manganese and metallurgical coal. Its ownership of Ecora Resources, which is a company involved in oil and gas production, makes this a company of concern.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Orica engages in services to the fossil fuel industry. They manufacture chemicals and explosives for the mining industry, specifically for thermal coal mining.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production or distribution of palm oil.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
South Korean global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Worley Ltd operates with offshore oil projects in planning and development. Companies involved in oil and gas services provide tailor-made products and services for the oil and gas sector including exploration and production.
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
Uses exotic leather and fur products in its luxury ranges such as crocodile, python and ostrich. Brands containing exotic leather include Donna Karan, Louis Vuitton, Fendi, Bvlgari, Céline. In addition it sells cosmetics and fragrances in China where testing on animals is required.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'Oréal is a personal care company and cosmetics company. The company states it has been at the forefront of alternative methods for decades and stopped all testing in 1989. However, L'Oréal sells in China where there are requirements for animal testing on certain products such as sunscreen and hair dye.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in intensive poultry operations, including managing direct operations which raise birds or managing a network of contracted farmers, slaughtering, packaging and onward sale to wholesalers, retailers, and restaurant chains.
JBS is one of the world’s largest food companies and exporters of beef from Brazil. Multiple sources have traced JBS meat products to illegally deforested areas in the Amazon rainforest. JBS suppliers have allegedly carried out intensive style poultry farming, which includes inhumane conditions and violent treatment of animals. Through its subsidiary, Huon Aquaculture, JBS has been linked to the inhumane death of seals by using explosives at salmon farms in Tasmania.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Tesla has been involved in violations across human rights categories including business ethics due to CEO leadership style, limiting of shareholder rights and poor governance. There have also been big safety and human rights concerns with Tesla’s supply chain and production line.
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
Johnson & Johnson is the world's largest and most diverse healthcare firm. There have been repeated incidents related to the quality and safety of several of its products across drugs, devices, and consumer products. There have also been exceptionally high number of liability claims relating to talc-based products and links to cancers.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Develops and operates Israel’s Population Registry System which holds information on residents of Occupied Palestinian Territories. The registry enables control of work and travel permits for Palestinians. This supports severe violations of human rights including freedom of movement and data privacy rights.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Has developed AI-based predictive policing systems. These are sold to Israeli security forces and used in surveillance of Palestinian in occupied Palestinian territories. The systems were originally designed for US immigration authorities and are used in the US to target immigrants and manage raids.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence that DNA sequencing products continue to be distributed in China, despite the company announcing it would halt sales to the region.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Wells Fargo is a multinational financial services company which serves millions of customers in 35 countries. They have been involved in significant business ethics scandals for false inflation, cross selling and misleading customers over a period of 2002 to 2016.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
A global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. In 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable and irrepairable impact on the traditional owners. Also a pattern of harmful community-related incidents in West Papua, South Africa, Canada, the US and Serbia. The company also derives revenue from coal power plants through multiple associates and subsidiaries.
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
A ride and food delivery service provider. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage, and providing the same benefits and rights as traditional taxi companies.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Online travel platforms, are complicit in the severe human rights violations to Palestinians from illegal settlement in Occupied Palestinian Territories. Promotion of tourism to these settlements normalises annexation and provides income supporting settlement. Under UN Principles, companies have obligations to prevent Human Rights breaches from services in situations of conflict.
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
Axon is a weapons and technology manufacturing company. They make tasers, body cameras for police and drones for crowd surveillance which are used in riot control situations in the US by ICE. Manufacturing of equipment for riot control is concerning due to its usage against civilian populations.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Online travel platforms, are complicit in the severe human rights violations to Palestinians from illegal settlement in Occupied Palestinian Territories. Promotion of tourism to these settlements normalises annexation and provides income supporting settlement. Under UN Principles, companies have obligations to prevent Human Rights breaches from services in situations of conflict.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Cemex subsidiary (Readymix Industries) has provided materials for construction of settlements in occupied Palestinian Territories e.g. military checkpoints and a security wall along Gilo Bridge in the occupied West Bank.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Amphenol are a US company manufacturing electronic components. They supply services to the military weapons industry through interconnect systems which have applications in harsh conditions for the military and aerospace sectors, specificially weapons release connectors.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
To provide high total returns allowing for large movements of value up and down. The number of years with negative returns are generally expected to be higher than the Balanced Fund but lower than the Aggressive 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 Growth Fund invests in income and growth assets with a target investment mix of 22% income assets and 78% growth assets.
| Value | $470M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 12th Oct. 2007 |
| Total annual fund fees | 1.1% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.06% |
| Other management and administration charges | 0.04% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Justine Sefton |
Currently: Investment Committee member (3 years, 8 months)
|
|
Jonathan Oram |
Currently: Investment Committee member (1 years, 11 months)
|
|
Frank Jasper |
Currently: Investment Committee member (3 years, 8 months)
|
|
Jax Mitchell |
Currently: Investment Committee member (3 years, 5 months)
|
|
Stephen Moir |
Currently: Investment Committee Chairman (2 years, 10 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 8.09% | 10.74% |
| 2025 | 3.55% | 6.01% |
| 2024 | 14.24% | 13.65% |
| 2023 | -4.05% | -2.59% |
| 2022 | 1.38% | 2.18% |
| 2021 | 27.68% | 26.34% |
| 2020 | -4.45% | -6.51% |
| 2019 | 6.12% | 7.87% |
| 2018 | 8.66% | 7.71% |
| 2017 | 7.20% | 9.87% |
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 March 2026.
Nvidia Corp
United States International Equities
Apple Inc
United States International Equities
Fisher & Paykel Healthcare
New Zealand Australasian Equities
Microsoft Corp
United States International Equities
ASB Bank Account NZD
New Zealand Cash and Equivalents A-1+
Auckland International Airport Ltd
New Zealand Australasian Equities
New Zealand Govt 200935 2.50 Indexed Bond
New Zealand NZ Fixed Interest AAA
Alphabet Inc Cap Cl C
United States International Equities
Taiwan Semicon Manufacturing Co Ltd
Taiwan, Province of China International Equities
Amazon Com Inc
United States International Equities
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 3.0% | 0.59% |
| New Zealand Fixed Interest | 12.5% | 12.31% |
| International Fixed Interest | 6.5% | 7.9% |
| Australasian Equities | 20.7% | 19.16% |
| International Equities | 57.3% | 54.75% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 4.23% |
| Commodities | 0.0% | 1.06% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
This data is compiled by Mindful Money from the fund information and portfolios
that each
fund has
filed with the Disclose register to 31st March 2026 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.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Enbridge's ownership in the Dakota Access Pipeline and Enbridge Line 5 has been at the center of continuous legal scrutiny and controversy due to the environmental and human rights impact. These pipelines have poor regulation, significant contributions to GHG emissions from pipe leakage and affect the rights of Indigenous people.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
The Norwegian-based seafood company is heavily involved in the aquaculture industry, accounting for 23% of the global salmon market. They have been criticised for malpractice by NGO, Wildfish, for using chemical pesticides and causing animal harm in their Scottish salmon farms and by First Nation groups for environmental damage and biodiversity loss in Canada.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Manufacture and bottle Coca-Cola beverages under licence. Collectively the Coca-Cola related entities produce the most plastic rubbish in our oceans at 3 million tons of plastic packaging annually, which has devastating impacts on our oceans, wreaking havoc on wildlife and sending plastic particles into the food chain.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in intensive poultry operations, including managing direct operations which raise birds or managing a network of contracted farmers, slaughtering, packaging and onward sale to wholesalers, retailers, and restaurant chains.
JBS is one of the world’s largest food companies and exporters of beef from Brazil. Multiple sources have traced JBS meat products to illegally deforested areas in the Amazon rainforest. JBS suppliers have allegedly carried out intensive style poultry farming, which includes inhumane conditions and violent treatment of animals. Through its subsidiary, Huon Aquaculture, JBS has been linked to the inhumane death of seals by using explosives at salmon farms in Tasmania.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production or distribution of palm oil.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
South Korean global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
A global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. In 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable and irrepairable impact on the traditional owners. Also a pattern of harmful community-related incidents in West Papua, South Africa, Canada, the US and Serbia. The company also derives revenue from coal power plants through multiple associates and subsidiaries.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Enbridge's ownership in the Dakota Access Pipeline and Enbridge Line 5 has been at the center of continuous legal scrutiny and controversy due to the environmental and human rights impact. These pipelines have poor regulation, significant contributions to GHG emissions from pipe leakage and affect the rights of Indigenous people.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Genesis produces electricity from plants and distributes gas. They are expanding their portfolio of renewable assets (wind, solar farms and hydro) and options to reduce emissions from Huntly (battery technology and biomass use). However, in 2025 their total GHG emissions increased compared to FY24, driven by a 33% rise in Scope 3 emissions - primarily from the Huntly Power Station (Coal & Gas).
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Operates electric and natural gas transmission systems in the UK and US. It also operates facilities for storing LNG. including the Grain LNG terminal in the UK which is the largest LNG facility in Europe and 8th globally.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Quanta Services provides infrastructure solutions for the oil and gas industry. Companies involved in oil and gas services provide tailor-made products and services for the oil and gas sector including exploration and production.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Headquartered in Canada, TC Energy operates natural gas, oil, and power generation assets in Canada and the USA. The company operates nearly 100,000km of oil and gas pipelines, and currently has 2,170.6km of pipelines under development. Projects include Coastal GasLink.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Ampol is involved in oil and gas refining and marketing in Australia through their petroleum business. They refine and distribute crude oil through petrol, diesel and jet fuels. Ampol is Australia's largest energy distributor.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Origin Energy engages in fossil fuel production and generation in Australia and New Zealand. They produce oil and gas, engage in thermal coal fired generation and LNG exploration.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
South32 is involved in diversified metals mining in Australia, through outputs such as manganese and metallurgical coal. Its ownership of Ecora Resources, which is a company involved in oil and gas production, makes this a company of concern.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Orica engages in services to the fossil fuel industry. They manufacture chemicals and explosives for the mining industry, specifically for thermal coal mining.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where companies are involved in the production or distribution of palm oil.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
South Korean global trading and investment company that operates in a variety of industries, including energy, minerals, and infrastructure, as well as the trading of various commodities. POSCO owns several palm oil operations in Indonesia, and some have been linked to allegations of extensive deforestation and other environmental pollution that have severely impacted local communities. The company’s subsidiary, POSCO Energy is also involved coal-fired thermal power generation.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Worley Ltd operates with offshore oil projects in planning and development. Companies involved in oil and gas services provide tailor-made products and services for the oil and gas sector including exploration and production.
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
Uses exotic leather and fur products in its luxury ranges such as crocodile, python and ostrich. Brands containing exotic leather include Donna Karan, Louis Vuitton, Fendi, Bvlgari, Céline. In addition it sells cosmetics and fragrances in China where testing on animals is required.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'Oréal is a personal care company and cosmetics company. The company states it has been at the forefront of alternative methods for decades and stopped all testing in 1989. However, L'Oréal sells in China where there are requirements for animal testing on certain products such as sunscreen and hair dye.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies are involved in intensive poultry operations, including managing direct operations which raise birds or managing a network of contracted farmers, slaughtering, packaging and onward sale to wholesalers, retailers, and restaurant chains.
JBS is one of the world’s largest food companies and exporters of beef from Brazil. Multiple sources have traced JBS meat products to illegally deforested areas in the Amazon rainforest. JBS suppliers have allegedly carried out intensive style poultry farming, which includes inhumane conditions and violent treatment of animals. Through its subsidiary, Huon Aquaculture, JBS has been linked to the inhumane death of seals by using explosives at salmon farms in Tasmania.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Tesla has been involved in violations across human rights categories including business ethics due to CEO leadership style, limiting of shareholder rights and poor governance. There have also been big safety and human rights concerns with Tesla’s supply chain and production line.
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
Johnson & Johnson is the world's largest and most diverse healthcare firm. There have been repeated incidents related to the quality and safety of several of its products across drugs, devices, and consumer products. There have also been exceptionally high number of liability claims relating to talc-based products and links to cancers.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Develops and operates Israel’s Population Registry System which holds information on residents of Occupied Palestinian Territories. The registry enables control of work and travel permits for Palestinians. This supports severe violations of human rights including freedom of movement and data privacy rights.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Has developed AI-based predictive policing systems. These are sold to Israeli security forces and used in surveillance of Palestinian in occupied Palestinian territories. The systems were originally designed for US immigration authorities and are used in the US to target immigrants and manage raids.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence that DNA sequencing products continue to be distributed in China, despite the company announcing it would halt sales to the region.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Wells Fargo is a multinational financial services company which serves millions of customers in 35 countries. They have been involved in significant business ethics scandals for false inflation, cross selling and misleading customers over a period of 2002 to 2016.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
A global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. In 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable and irrepairable impact on the traditional owners. Also a pattern of harmful community-related incidents in West Papua, South Africa, Canada, the US and Serbia. The company also derives revenue from coal power plants through multiple associates and subsidiaries.
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
A ride and food delivery service provider. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage, and providing the same benefits and rights as traditional taxi companies.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Online travel platforms, are complicit in the severe human rights violations to Palestinians from illegal settlement in Occupied Palestinian Territories. Promotion of tourism to these settlements normalises annexation and provides income supporting settlement. Under UN Principles, companies have obligations to prevent Human Rights breaches from services in situations of conflict.
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
Axon is a weapons and technology manufacturing company. They make tasers, body cameras for police and drones for crowd surveillance which are used in riot control situations in the US by ICE. Manufacturing of equipment for riot control is concerning due to its usage against civilian populations.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Online travel platforms, are complicit in the severe human rights violations to Palestinians from illegal settlement in Occupied Palestinian Territories. Promotion of tourism to these settlements normalises annexation and provides income supporting settlement. Under UN Principles, companies have obligations to prevent Human Rights breaches from services in situations of conflict.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Acquired Credit Suisse in 2023, a bank with very poor governance which aided clients with tax evasion and money laundering. As a result, UBS has inherited ongoing regulatory fines and lawsuits relating to these failures. UBS has also been subject to lawsuits relating to its own manipulation of foreign exchange and interbank rates. It holds a provision of USD $4bn for claims (which may not be sufficient).
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
Cemex subsidiary (Readymix Industries) has provided materials for construction of settlements in occupied Palestinian Territories e.g. military checkpoints and a security wall along Gilo Bridge in the occupied West Bank.
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Amphenol are a US company manufacturing electronic components. They supply services to the military weapons industry through interconnect systems which have applications in harsh conditions for the military and aerospace sectors, specificially weapons release connectors.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
To provide high total returns allowing for large movements of value up and down. The number of years with negative returns are generally expected to be higher than the Balanced Fund but lower than the Aggressive 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 Growth Fund invests in income and growth assets with a target investment mix of 22% income assets and 78% growth assets.
| Value | $470M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 12th Oct. 2007 |
| Total annual fund fees | 1.1% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.06% |
| Other management and administration charges | 0.04% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Justine Sefton |
Currently: Investment Committee member (3 years, 8 months)
|
|
Jonathan Oram |
Currently: Investment Committee member (1 years, 11 months)
|
|
Frank Jasper |
Currently: Investment Committee member (3 years, 8 months)
|
|
Jax Mitchell |
Currently: Investment Committee member (3 years, 5 months)
|
|
Stephen Moir |
Currently: Investment Committee Chairman (2 years, 10 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 8.09% | 10.74% |
| 2025 | 3.55% | 6.01% |
| 2024 | 14.24% | 13.65% |
| 2023 | -4.05% | -2.59% |
| 2022 | 1.38% | 2.18% |
| 2021 | 27.68% | 26.34% |
| 2020 | -4.45% | -6.51% |
| 2019 | 6.12% | 7.87% |
| 2018 | 8.66% | 7.71% |
| 2017 | 7.20% | 9.87% |
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 March 2026.
Nvidia Corp
United States International Equities
Apple Inc
United States International Equities
Fisher & Paykel Healthcare
New Zealand Australasian Equities
Microsoft Corp
United States International Equities
ASB Bank Account NZD
New Zealand Cash and Equivalents A-1+
Auckland International Airport Ltd
New Zealand Australasian Equities
New Zealand Govt 200935 2.50 Indexed Bond
New Zealand NZ Fixed Interest AAA
Alphabet Inc Cap Cl C
United States International Equities
Taiwan Semicon Manufacturing Co Ltd
Taiwan, Province of China International Equities
Amazon Com Inc
United States International Equities
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 3.0% | 0.59% |
| New Zealand Fixed Interest | 12.5% | 12.31% |
| International Fixed Interest | 6.5% | 7.9% |
| Australasian Equities | 20.7% | 19.16% |
| International Equities | 57.3% | 54.75% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 4.23% |
| Commodities | 0.0% | 1.06% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
This data is compiled by Mindful Money from the fund information and portfolios
that each
fund has
filed with the Disclose register to 31st March 2026 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.
