Mercer Defence Force Conservative Fund

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Fund type: Conservative fund

Past Returns: 2.15%

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

Annual Fees: 0.88%

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 Limited 0.29%
Nextera Energy Inc 0.08%
Nextera Energy Capital Holdings Inc 0.06%
Shell PLC Ord Eur0.07 0.05%
National Grid PLC Disc Coml Paper 4/2 Yrs 3&4 10-13-2022 0.04%
Totalenergies Se 0.04%
Dominion Energy 0.03%
Dte Energy Co USD 0.03%
Duke Energy Corp Com USD 0.001 Post Rev Splt 0.03%
Sempra Energy 0.03%
BHP Group Limited Ordinary Fully Paid 0.02%
Emera Inc 0.02%
Enel Chile SA 4.875% 06-12-2028 0.02%
Enel Fin Intl N V Fixed 3.625% Due 05-25-2027 0.02%
Enel Spa 0.02%
Eni Spa 0.02%
Entergy 0.02%
Hf Sinclair Corpor Com Usd0.01 0.02%
Hk Electric Investments Ltd 0.02%
Iren Spa 1% Snr Emtn 01/07/2030 EUR 0.02%
Kinder Morgan Inc 4.3% Due 06-01-2025 0.02%
Naturgy Finance B. 1.5% Gtd Snr 29/01/2028 EUR 0.02%
Public Service Enterprise Group 0.02%
Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.02%
Reliance Inds 3.667% Snr 30/11/2027 USD 0.02%
Santos Limited 0.02%
Southern Co Com USD 0.02%
Xcel Energy Inc 0.02%
A2A Spa 1% Snr Emtn 02/11/2033 EUR 0.01%
Aker BP Asa 1.125% Snr 12/05/2029 EUR 0.01%
Allete Inc 0.01%
Alliant Energy Corp Com 0.01%
Apa Corporation 4.375% Snr 15/10/28 Usd2000 0.01%
Apache Corp 4.375% 10-15-2028 0.01%
Ck Hutchison International 21 Ltd 1.5% Due 04-15-2026 Beo 0.01%
Edp Finance Bv 1.875% Snr 29/09/2023 EUR 0.01%
Enel Fin Intl Nv Fixed 4.25% Due 06-15-2025 0.01%
Enel Spa Eur1 0.01%
Equinor Asa 0.01%
Guanghui Energy Co Ltd 0.01%
Hera Spa Cb 2.5% 2.5% 25/05/2029 0.01%
Mitsubishi Corp Y50 0.01%
Mitsui & Co Ltd Jpy 0.01%
Nippon Yusen Kk Npv Temp 0.01%
OMV AG 0.01%
Pg and E Corp 0.01%
Ppl Corporation 0.01%
Santos Finance Ltd 4.125% Gtd Snr 14/09/27 USD 0.01%
Snam Spa 0.01%
Snam Spa 1% Snr Emtn 12/09/2034 EUR 0.01%
Williams Companies Inc 2.6% 03-15-2031 0.01%
Williams Cos Inc 4.65% Due 08-15-2032 0.01%

Weapons

Mtu Aero Engines AG 0.01%

Tobacco

Performance Food Group Co 0.03%
Alimentation Couche-Tard 2.95% Due 01-25-2030 Beo 0.02%
Casey'S General Stores Inc 0.01%

Gambling

Skycity Entertainment Group Limited 0.10%
Vici Properties Inc 0.01%

Alcohol

Constellation Brands Inc-A 0.05%
Treasury Wine Estates Limited 0.01%

Human Rights & Environmental Violations

Nestle Holdings Inc 0.07%
Nestle SA 0.06%
Shell PLC Ord Eur0.07 0.05%
Johnson & Johnson Com US$1 0.04%
Motorola Solutions Inc 0.04%
Barrick Gold Corporation 0.03%
Duke Energy Corp Com USD 0.001 Post Rev Splt 0.03%
Wells Fargo & Co 1.338%-Frn Snr 04/05/25Eur 0.03%
Activision Blizzard Inc 0.02%
BHP Group Limited Ordinary Fully Paid 0.02%
Bayer AG 0.02%
Credit Suisse Gp 2.875%-Frn Snr 02/04/32Eur 0.02%
First International Bank Of Israel Ltd 0.02%
Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.02%
Rio Tinto Fin Usa 5.2 Due 11-02-2040 0.02%
Rio Tinto PLC Ord 10P Gbp 0.02%
Thermo Fisher Scientific Inc 0.02%
Pg and E Corp 0.01%

Animal Testing

Procter & Gamble Company 0.09%
Nestle Holdings Inc 0.07%
Pepsico Inc Cap US$0.01 2/3 0.07%
Nestle SA 0.06%
Constellation Brands Inc-A 0.05%
Shell PLC Ord Eur0.07 0.05%
Colgate Palmolive Usd1 0.04%
Church & Dwight Co 0.03%
Coca Cola Co USD 0.03%
Essity Ab 1.625% Gtd Snr 30/03/27 EUR 0.03%
General Mills Inc 0.03%
Kellogg Company 0.03%
Kimberly Clark Corp Com Usd1.25 0.03%
Kimberly Clark De Mexico S A B De C V Fo2.431% Due 07-01-2031 Beo 0.03%
Koninklijke Ahold Delhaize Nv 0.03%
Mondelez International Inc 0.03%
Tyson Foods Inc Class A 0.03%
3M Co 4.0% 09-14-2048 0.02%
Bayer AG 0.02%
Campbell Soup Co USD 0.02%
Colgate-Palmolive Co 4% Due 08-15-2045 0.02%
Eni Spa 0.02%
Kering 0.02%
Kimberly-Clark 6.625% Due 08-01-2037 0.02%
Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.02%
Nomad Foods Ltd 0.02%
Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.02%
Reliance Inds 3.667% Snr 30/11/2027 USD 0.02%
Sherwin Williams Com Usd1 0.02%
Solvay SA .5% 06/09/2029 0.02%
Aker BP Asa 1.125% Snr 12/05/2029 EUR 0.01%
Coca-Cola Co Fixed 1% Due 03-09-2041 0.01%
Estee Lauder Companies 0.01%
Hermes International 0.01%
Koninklijke Dsm Nv 0.01%
Mitsubishi Corp Y50 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 -0.26% -0.44%
2021 8.99% 6.47%
2020 0.27% 0.41%
2019 4.19% 3.4%
2018 3.39% 3.14%
2017 3.28% 3.35%

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:

  • Robeco Global Credit Fund
    Australia Int Fixed Interest
    4.7%
  • ANZ Bank New Zealand Limited Rcd Maturing 28/11/2022
    New Zealand Cash and Equivalents AA-
    1.61%
  • Westpac New Zealand Limited Rcd Maturing 07/11/2022
    New Zealand Cash and Equivalents AA-
    1.38%
  • New Zealand Government Bond 3.00% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    1.37%
  • New Zealand Government Bond 2.00% 15/05/2032
    New Zealand NZ Fixed Interest AAA
    1.31%
  • New Zealand Government Bond 1.75% 15/05/2041
    New Zealand NZ Fixed Interest AAA
    1.25%
  • Westpac Business Interest Account
    New Zealand Cash and Equivalents AA-
    1.2%
  • Bank Of New Zealand Rcd Maturing 15/11/2022
    New Zealand Cash and Equivalents AA-
    1.13%
  • New Zealand Government Bond 0.25% 15/05/2028
    New Zealand NZ Fixed Interest AAA
    1.09%
  • Housing New Zealand Limited Bond 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AAA
    1.08%

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 30.0% 32.24%
New Zealand Fixed Interest 15.0% 14.72%
International Fixed Interest 35.0% 34.56%
Australasian Equities 5.0% 4.71%
International Equities 11.5% 9.14%
Listed Properties 0.88% 0.57%
Unlisted Properties 0.87% 1.13%
Other 1.75% 2.93%
Commodities 0.0% 0.0%

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:
    0.00%
  • Alcohol:
    0.07%
  • Animal Testing:
    1.32%
  • Fossil Fuels:
    1.77%
  • Gambling:
    0.12%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.61%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.07%
  • Weapons:
    0.02%

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

"Invests mostly in defensive assets such as fixed interest and cash, with only limited investment in growth assets such as shares and real assets. May be suitable for investors who want to achieve slightly higher returns than those expected from investing solely in the Cash fund. Investors need to be comfortable with the possibility of some fluctuations in returns."

Value $7.8M NZD
Period of data report Fri Sept. 30th 2022
Fund started Fri Oct. 9th 2015
Total annual fund fees 0.88%
Total performance based fees 0.0%
Manager's basic fee 0.71%
Other management and administration charges 0.17%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Kristen Kohere-Soutar

Currently: Chair - Mercer (N.Z.) Ltd (2 years, 10 months)
Previously: Director - Mercer (N.Z.) Ltd (current) (5 years, 1 months)

Martin Lewington

Currently: CEO - Mercer (N.Z.) Ltd (13 years, 7 months)
Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

Kylie Willment

Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (4 years, 11 months)
Previously: Senior Manager, Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)

Padraig Brown

Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (0 years, 4 months)
Previously: Head of Real Estate Investment Management, Mercer Australia (Pty) Ltd (11 years, 2 months)

Robert Kavanagh

Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (8 years, 6 months)
Previously: Vice President - Account Management PIMCO Australia Pty Limited (7 years, 0 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.

Latest news

You should be prudent about your investment.

Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital invested. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Markets Conduct Act 2013 and any associated regulations.

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.