Issues of concern

The graph below shows the percentage of the fund invested in each of the worst issues of concern to New Zealanders. Below the graph are listed all the companies this fund invests in, by issue of concern.

Key:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Meta Platforms Inc-Class A 0.38%
    • Johnson & Johnson 0.32%
    • Nestle SA-Reg 0.27%
    • Thermo Fisher Scientific Inc 0.18%
    • Rio Tinto Ltd 0.17%
    • Caterpillar Inc 0.10%
    • Glencore PLC 0.07%
    • Rio Tinto PLC 0.07%
    • Activision Blizzard Inc 0.06%
    • Motorola Solutions Inc 0.04%
    • Uber Technologies Inc 0.04%
    • Li Ning Co Ltd 0.03%
    • Grupo Mexico Sab De Cv-Ser B 0.02%
    • Bank Hapoalim Bm 0.01%
    • Bank Leumi Le-Israel 0.01%
    • Centrais Eletricas Brasilier 0.01%
    • Formosa Chemicals & Fibre 0.01%
    • Israel Discount Bank-A 0.01%
    • Mizrahi Tefahot Bank Ltd 0.01%
    • Wilmar International Ltd 0.01%
    • BHP Group Ltd 0.88% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Newcrest Mining Ltd 0.09%
    • Glencore PLC 0.07%
    • Duke Energy Corp 0.06%
    • Freeport-Mcmoran Inc 0.06%
    • Bayer AG-Reg 0.05%
    • Archer-Daniels-Midland Co 0.04%
    • Basf Se 0.04%
    • Corteva Inc 0.04%
    • Posco 0.04%
    • Nutrien Ltd 0.03%
    • Barrick Gold Corp 0.02%
    • Soc Quimica Y Minera Chile-B 0.02%
    • Astra International Tbk Pt 0.01%
    • Bunge Ltd 0.01%
    • Evergreen Marine Corp Ltd 0.01%
    • Fmc Corp 0.01%
    • Indofood Sukses Makmur Tbk P 0.01%
    • Jbs SA 0.01%
    • Nissan Chemical Corp 0.01%
    • Nufarm Ltd 0.01%
    • Ppb Group Berhad 0.01%
    • Southern Copper Corp 0.01%
    • Wilmar International Ltd 0.01%
    • Zijin Mining Group Co Ltd-A 0.01%
    • Zijin Mining Group Co Ltd-H 0.01%
    • Procter & Gamble Co/The 0.28%
    • LVMH Moet Hennessy Louis Vui 0.20%
    • Unilever PLC 0.11%
    • L'Oreal 0.09%
    • Air Liquide SA 0.07%
    • 3M Co 0.05%
    • Bayer AG-Reg 0.05%
    • Colgate-Palmolive Co 0.05%
    • Estee Lauder Companies-Cl A 0.05%
    • Hermes International 0.05%
    • Sherwin-Williams Co/The 0.05%
    • Basf Se 0.04%
    • Corteva Inc 0.04%
    • Ecolab Inc 0.04%
    • Kering 0.04%
    • Kimberly-Clark Corp 0.04%
    • Dow Inc 0.03%
    • Dupont De Nemours Inc 0.03%
    • Koninklijke Ahold Delhaize N 0.03%
    • Nutrien Ltd 0.03%
    • Orica Ltd 0.03%
    • PPG Industries Inc 0.03%
    • Albemarle Corp 0.02%
    • Church & Dwight Co Inc 0.02%
    • Clorox Company 0.02%
    • Formosa Plastics Corp 0.02%
    • Givaudan-Reg 0.02%
    • Intl Flavors & Fragrances 0.02%
    • Mosaic Co/The 0.02%
    • Nan Ya Plastics Corp 0.02%
    • Shiseido Co Ltd 0.02%
    • Tyson Foods Inc-Cl A 0.02%
    • Ultrapar Participacoes SA 0.02%
    • Yara International Asa 0.02%
    • Akzo Nobel N.V. 0.01%
    • Arkema 0.01%
    • Beiersdorf AG 0.01%
    • Burberry Group PLC 0.01%
    • Celanese Corp 0.01%
    • Chr Hansen Holding A/S 0.01%
    • Covestro AG 0.01%
    • Croda International PLC 0.01%
    • Dcc PLC 0.01%
    • Dongyue Group 0.01%
    • Eastman Chemical Co 0.01%
    • Entegris Inc 0.01%
    • Fmc Corp 0.01%
    • Formosa Chemicals & Fibre 0.01%
    • Groupe Bruxelles Lambert Nv 0.01%
    • Hengan Intl Group Co Ltd 0.01%
    • Henkel AG & Co Kgaa Vor-Pref 0.01%
    • Hormel Foods Corp 0.01%
    • Icl Group Ltd 0.01%
    • Inghams Group Ltd 0.01%
    • Jbs SA 0.01%
    • Kao Corp 0.01%
    • Kikkoman Corp 0.01%
    • Koninklijke Dsm Nv 0.01%
    • Mitsubishi Chemical Group Co 0.01%
    • Moncler Spa 0.01%
    • Nissan Chemical Corp 0.01%
    • Novozymes A/S-B Shares 0.01%
    • Nufarm Ltd 0.01%
    • Orbia Advance Corp Sab De Cv 0.01%
    • Otsuka Holdings Co Ltd 0.01%
    • Petronas Chemicals Group Bhd 0.01%
    • Rentokil Initial PLC 0.01%
    • Rpm International Inc 0.01%
    • Sahara International Petroch 0.01%
    • Solvay SA 0.01%
    • Swatch Group AG/The-Br 0.01%
    • Symrise AG 0.01%
    • Umicore 0.01%
    • Unicharm Corp 0.01%
    • Wanhua Chemical Group Co -A 0.01%
    • Westlake Chemical Corp 0.01%
    • Yakult Honsha Co Ltd 0.01%
    • Howmet Aerospace Inc 0.09%
    • Heico Corp 0.08%
    • Transdigm Group Inc 0.08%
    • Kongsberg Gruppen Asa 0.05%
    • Amphenol Corp-Cl A 0.04%
    • Mtu Aero Engines AG 0.04%
    • Singapore Tech Engineering 0.04%
    • Rolls-Royce Holdings PLC 0.02%
    • Booz Allen Hamilton Holdings 0.01%
    • Heico Corp-Class A 0.01%
    • Icl Group Ltd 0.01%
    • Melrose Industries PLC 0.01%
    • Rheinmetall AG 0.01%
    • Contact Energy Ltd 0.92% 1.5°C
      This company is on a 1.5°C pathway
    • BHP Group Ltd 0.88% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Genesis Energy Ltd 0.23%
    • Marathon Petroleum Corp 0.20%
    • Enbridge Inc 0.15% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Kinder Morgan Inc 0.15% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Phillips 66 0.14%
    • Targa Resources Corp 0.14%
    • Williams Cos Inc 0.14% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Cheniere Energy Inc 0.13% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Valero Energy Corp 0.13%
    • Neste Oyj 0.12%
    • Nextera Energy Inc 0.12%
    • Snam Spa 0.11% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Tc Energy Corp 0.10% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Pembina Pipeline Corp 0.09% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Ampol Ltd 0.08%
    • Keyera Corp 0.08% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Parkland Corp 0.08%
    • South32 Ltd 0.08%
    • Glencore PLC 0.07%
    • Oneok Inc 0.07%
    • Duke Energy Corp 0.06%
    • Hf Sinclair Corp 0.06%
    • Iberdrola SA 0.06% 1.5°C
      This company is on a 1.5°C pathway
    • Origin Energy Ltd 0.06% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Southern Co/The 0.06%
    • Viva Energy Group Ltd 0.06% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Apa Group 0.05% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Altagas Ltd 0.04%
    • American Electric Power 0.04%
    • Enel Spa 0.04% 1.5°C
      This company is on a 1.5°C pathway
    • Mitsubishi Corp 0.04% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • National Grid PLC 0.04% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Sempra Energy 0.04% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Agl Energy Ltd 0.03%
    • Consolidated Edison Inc 0.03%
    • Itochu Corp 0.03% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Marubeni Corp 0.03% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Orica Ltd 0.03%
    • Public Service Enterprise Gp 0.03%
    • Wec Energy Group Inc 0.03%
    • Xcel Energy Inc 0.03%
    • Aes Corp 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Ameren Corporation 0.02%
    • Cez As 0.02%
    • China Merchants Energy -A 0.02%
    • Ck Hutchison Holdings Ltd 0.02%
    • Constellation Energy 0.02%
    • Cosan SA 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Dte Energy Company 0.02%
    • E.On Se 0.02%
    • Engie 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Enn Energy Holdings Ltd 0.02%
    • Entergy Corp 0.02%
    • Fortis Inc 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Grupo Mexico Sab De Cv-Ser B 0.02%
    • Hd Hyundai 0.02%
    • Petronas Dagangan Bhd 0.02%
    • Ppl Corp 0.02%
    • Qatar Gas Transport(Nakilat) 0.02%
    • Rabigh Refining and Petroche 0.02%
    • Rwe AG 0.02%
    • Sumitomo Corp 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Washington H. Soul Pattinson 0.02%
    • Weg SA 0.02%
    • Abu Dhabi National Oil Co Fo 0.01% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Alliant Energy Corp 0.01%
    • Arcelormittal 0.01%
    • Astra International Tbk Pt 0.01%
    • Atmos Energy Corp 0.01%
    • China Longyuan Power Group-H 0.01%
    • China Resources Power Holdin 0.01%
    • Citic Ltd 0.01%
    • Citic Securities Co Ltd-H 0.01%
    • Clp Holdings Ltd 0.01%
    • Cms Energy Corp 0.01%
    • Delta Air Lines Inc 0.01%
    • Edp-Energias De Portugal SA 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Emera Inc 0.01%
    • Endesa SA 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Engie Brasil Energia SA 0.01% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Evergy Inc 0.01%
    • Fairfax Financial Hldgs Ltd 0.01%
    • Grupo Financiero Inbursa-O 0.01%
    • Guangdong Investment Ltd 0.01%
    • Hong Kong & China Gas 0.01% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Huadian Power Intl Corp-A 0.01%
    • Huaneng Power Intl Inc-H 0.01%
    • Intertek Group PLC 0.01%
    • Jardine Matheson Hldgs Ltd 0.01%
    • Kansai Electric Power Co Inc 0.01%
    • Lg Corp 0.01%
    • Loews Corp 0.01%
    • Manila Electric Company 0.01%
    • Mitsui Osk Lines Ltd 0.01%
    • Nippon Steel Corp 0.01%
    • Nippon Yusen Kk 0.01%
    • Nisource Inc 0.01%
    • Nrg Energy Inc 0.01%
    • Oci Nv 0.01%
    • Orsted A/S 0.01% 1.5°C
      This company is on a 1.5°C pathway
    • Osaka Gas Co Ltd 0.01% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Ptt Oil & Retail Busine-Nvdr 0.01%
    • Samsung C&T Corp 0.01%
    • Saudi Electricity Co 0.01%
    • Taiwan Cement 0.01%
    • Tenaga Nasional Bhd 0.01%
    • Tokyo Gas Co Ltd 0.01% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Ugi Corp 0.01%
    • Vistra Corp 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 31st March 2023 and Mindful Money analysis of funds within those portfolios. The list of companies of concern has been drawn from ratings agencies and public sources, including the Norwegian Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.

Please note that companies may breach more than one of these areas of concern.

The listing of companies of concern is based on definitions used in Mindful Money's methodology. These definitions may be different from the exclusions policy and definitions applied by the fund provider.

Mindful Money uses the term Mindful Funds as our standard for ethical investment and responsible investment. This does not imply that other funds are unethical or that the fund providers that do not meet these standards are unethical providers.

About this fund

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 the highest of the multi-sector funds 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 20% income assets and 80% growth assets.

Value $230M NZD
Period of data report 30th June 2023
Fund started 12th Oct. 2007
Total annual fund fees 1.19%
Total performance based fees 0.0%
Manager's basic fee 1.15%
Other management and administration charges 0.04%
Total other charges 0.0
Total other charges currency NZD

Frank Jasper (Not Named In The Previous Fund Update)

Currently: Investment Committee member (0 years, 11 months)
Previously: Chief Investment Officer, Fisher Funds (previous position) (4 years, 0 months)

Jax Mitchell (Not Named In The Previous Fund Update)

Currently: Investment Committee member (0 years, 8 months)
Previously: GM Wealth, Insurance & Partnerships, ASB Bank (current position) (0 years, 8 months)

Stephen Moir

Currently: Investment Committee Chairman (0 years, 1 months)
Previously: Investment Committee member (2 years, 5 months)

Justine Sefton (Not Named In The Previous Fund Update)

Currently: Investment Committee member (0 years, 11 months)
Previously: Member/Deputy-Chair of the Impact Investment Network Aotearoa NZ (current position) (3 years, 1 months)

John Smith

Currently: Investment Committee member (12 years, 1 months)
Previously: Head of Asset Management, ASB Bank (current position) (11 years, 1 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 2023.

Past Returns

Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

Year Market Average Fund Annual Return
2023 -4.94% -2.59%
2022 1.99% 2.18%
2021 33.68% 26.34%
2020 -4.45% -6.51%
2019 6.12% 7.87%
2018 8.66% 7.71%
2017 7.20% 9.87%
2016 5.40% 2.96%
2015 12.09% 14.71%
2014 9.56% 8.89%

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 30th June 2023.

Top 10 Investments

  • Ishares Physical Gold Etc
    Ireland Commodities
    2.88%
  • Apple Inc
    United States Australasian Equities
    2.44%
  • Fisher & Paykel Healthcare
    New Zealand Australasian Equities
    2.13%
  • Microsoft Corp
    United States International Equities
    1.92%
  • Auckland International Airport Ltd
    New Zealand Australasian Equities
    1.56%
  • Spark New Zealand Limited
    New Zealand Australasian Equities
    1.43%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    1.24%
  • Infratil Limited
    New Zealand Australasian Equities
    1.23%
  • Meridian Energy Lt Npv
    New Zealand Australasian Equities
    1.03%
  • Contact Energy Limited
    New Zealand Australasian Equities
    0.96%
Type Target Actual
Cash and Cash Equivalents 1.0% 1.18%
New Zealand Fixed Interest 11.5% 6.83%
International Fixed Interest 7.5% 8.84%
Australasian Equities 33.0% 26.28%
International Equities 37.5% 53.95%
Listed Properties 3.5% 0.0%
Unlisted Properties 0.0% 0.0%
Other 6.0% 0.0%
Commodities 0.0% 2.92%

Investment Mix

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

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 2023.