Mercer Defence Force Moderate Fund

Not Mindful

Type: Balanced fund

Past Returns: 2.39%

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

Annual Fees: 0.98%

Annual fees, including any membership and % management 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

Aker BP Asa 0.07%
Alliant Energy Corp 0.01%
Alliant Energy Corporation 0.03%
Anglo American PLC 0.02%
Apa Group 0.01%
Apt Pipelines Ltd 4.25% Due 07-15-2027 0.02%
Atmos Energy Corp 0.04%
BHP Group PLC 0.03%
Bkw AG 0.02%
BP Cap Mkts Amer Fixed 3.017% Due 01-16-2027 0.02%
Chevron Corp New 2.236% Due 05-11-2030 0.01%
Clp Holdings Limited Hkd 0.02%
Coca Cola Co USD 0.02%
Dominion Energy Inc Com 0.06%
E.On Se 0% Snr 18/12/23 Eur1000'66' 0.01%
E.On Se Mtn .25% 24/10/2026 0.02%
Emera Inc 0.03%
Enbridge Energy Partners Lp 0.05%
Enbridge Inc 0.04%
Enel Spa 0.01%
Engie Aug5 0.02%
Engie SA Mtn .375% 11/06/2027 0.01%
Equinor Asa 2.375% Due 05-22-2030 Reg 0.02%
Evergy Inc Com Npv 0.01%
Genesis Energy Ltd 0.07%
Guangdong Investment Limited 0.04%
Itochu Corp Jpy 0.01%
Kinder Morgan Inc 1.5% Due 03-16-2022 0.01%
Koninklijke Vopak Nv 0.04%
Lyondellbasell Industries 0.03%
Midamerican Energy 6.125% Due 04-01-2036 0.01%
Naturgy Finance B. 1.5% Gtd Snr 29/01/2028 EUR 0.01%
New World Development Co Ltd 0.04%
Nextera Energy Cap Fixed 2.75% Due 05-01-2025 0.01%
Nextera Energy Inc 0.07%
Nextera Energy Inc Common Stock USD.01 0.01%
Oneok Partners L P 3.375% Due 10-01-2022 0.01%
Orix Corporation Jpy50 0.01%
Orsted A/S Common Stock Dkk10.0 0.03%
Petroleo Brasileiro Petrobras SA 0.01%
Phillips 66 Com Usd0.01 0.01%
Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.01%
Rio Tinto Fin Usa 5.2 Due 11-02-2040 0.02%
Rio Tinto Limited 0.05%
Rio Tinto PLC Ord 10P Gbp 0.04%
Rubis Eur1.25 0.06%
Saudi Arabian Oil 3.5% Snr Mtn 16/04/2029 USD 0.02%
Snam Spa 0.02%
Vale SA 0.02%
Valero Energy Corp 0.01%
Wec Energy Group Inc 0.02%
Xcel Energy Inc 0.03%
Xcel Energy Inc 2.6% Due 12-01-2029 0.01%
Xcel Energy Inc 3.5% Due 12-01-2049 0.01%
Xcel Energy Inc. 0.03%

Weapons

Amphenol Corp-Cl A 0.05%
Howmet Aerospace I Com USD 0.01%
Transdigm Group Inc 0.02%

Tobacco

Alimentation Couche-Tard 2.95% Due 01-25-2030 Beo 0.01%
Casey'S General Stores Inc 0.02%
Seven & I Holdings Co Ltd 0.01%

Gambling

Aristocrat Leisure Ltd 0.04%
Las Vegas Sands Corp 0.01%
Skycity Entertainment Group Limited 0.10%
Vici Properties Inc 0.02%

Alcohol

Anheuser-Busch Cos Llc Corp 4.7% 02-01-2036 0.02%
Anheuser-Busch Cos Llc Corp 4.9% 02-01-2046 0.01%
Anheuser-Busch Inbev SA/Nv 0.05%
LVMH Moet Hennessy 1.125% Snr 11/02/2027Gbp 0.01%
Treasury Wine Estates Limited 0.03%

Palm Oil

Human Rights & Environmental Violations

BHP Group PLC 0.03%
Chemours Co 0.01%
Johnson & Johnson Com US$1 0.13%
Johnson + Johnson Common Stock Usd1.0 0.02%
Nestle SA 0.09%
Petroleo Brasileiro Petrobras SA 0.01%
Rio Tinto Fin Usa 5.2 Due 11-02-2040 0.02%
Rio Tinto Limited 0.05%
Rio Tinto PLC Ord 10P Gbp 0.04%
Sempra Energy USD 0.04%
Vale SA 0.02%

Animal Testing

Celanese Corp Series A 0.010%
Chemours Co 0.010%
Chr Hansen Holding A/S Common Stock Dkk10. 0.010%
Church & Dwight Co 0.020%
Clorox Co Del 0.020%
Coca Cola Co USD 0.020%
Colgate Palmolive Usd1 0.030%
Colgate-Palmolive Co 4% Due 08-15-2045 0.020%
Dow Chemical Co 0.5% Snr 15/03/27 Eur100000 0.030%
Dow Inc 0.010%
Eastman Chemical Com 0.010%
Ecolab Inc 2.7% Due 11-01-2026 0.010%
Ecolab Inc Common Stock Usd1.0 0.030%
General Mills Inc 0.020%
Glaxosmithkline 6.375% Due 05-15-2038 0.020%
Glaxosmithkline PLC 0.040%
Henkel AG & Co Kgaa Non Vtg Pref 0.020%
Hermes International 0.020%
Intl Flavors & Fragrances USD 0.040%
Johnson & Johnson Com US$1 0.130%
Johnson + Johnson Common Stock Usd1.0 0.020%
Kellogg Company 0.020%
Kikkoman Corporation Jpy 0.010%
Kimberly Clark 6.625% Due 08-01-2037 0.010%
Kimberly Clark Corp Com Usd1.25 0.030%
Koninklijke Dsm Nv Common Stock Eur1.5 0.020%
Kraft Heinz Co Com Usd0.01 0.020%
Linde PLC Common Stock EUR.001 0.010%
LVMH Moet Hennessy 1.125% Snr 11/02/2027Gbp 0.010%
Lyondellbasell Industries 0.030%
Mosaic Co Com 0.010%
Nestle SA 0.090%
Orkla Asa 0.010%
Pepsico Inc Cap US$0.01 2/3 0.040%
Praxair Inc Nt 2% 08-10-2050 0.020%
Procter & Gamble Company 0.070%
Pvtpl Air Liquide Fin S A Fixed 2.25% 09-10-2029 0.010%
Reckitt Benckiser 0.375% Gtd Snr 19/05/26 EUR 0.020%
Rpm International Inc 0.010%
Seven & I Holdings Co Ltd 0.010%
Symrise AG Common Stock 0.020%
Syngenta Finance Nv 0.050%
Trinseo SA 0.020%
Unilever PLC 0.010%
Unilever PLC Common Stock Gbp.0311 0.010%
Usana Helath Sciences Inc 0.010%
Xerox Hldgs Corp 5% Due 08-15-2025 0.010%
Xerox Hldgs Corp Com Usd1.00 0.020%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Wed Sept. 30th 2020 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.

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
2020	-2.86%	-1.06%
2019	4.44%	3.86%
2018	4.90%	4.38%
2017	5.60%	4.68%

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 Wed Sept. 30th 2020.

Showing the top 10 investments for this fund:

AMP Capital Investors NZ Cash Fund
New Zealand Cash and Equivalents

16.59%
Robeco Global Credit Fund
Australia Int Fixed Interest

3.57%
New Zealand Government Bond 5.5% 15/04/2023
New Zealand NZ Fixed Interest AA+

1.45%
Westpac Business Interest Account
New Zealand Cash and Equivalents AA-

1.32%
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities

1.27%
New Zealand Government Bond 3.5% 14/04/2033
New Zealand NZ Fixed Interest AA+

1.24%
First State Investments Global Listed Infrastructure Fund
New Zealand Other

1.16%
New Zealand Government Bond 0.5% 15/05/2024
New Zealand NZ Fixed Interest AA+

1.15%
Aviva Investors Multi-Strategy Fixed Income Fund
Australia Int Fixed Interest

1.14%
New Zealand Government Bond 2% 20/09/2025
New Zealand NZ Fixed Interest AA+

0.96%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Wed Sept. 30th 2020.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	18.0%	18.38%
New Zealand Fixed Interest	13.0%	12.88%
International Fixed Interest	29.0%	27.65%
Australasian Equities	9.5%	8.31%
International Equities	22.5%	21.67%
Listed Properties	2.0%	1.94%
Unlisted Properties	2.0%	1.87%
Other	4.0%	7.3%
Commodities	0.0%	0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Wed Sept. 30th 2020.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

Issue of concern

Does this fund say it excludes this?

Actual holdings
Adult Entertainment/Pornography:

0.00%
Alcohol:

0.19%
Animal Testing:

1.56%
Fossil Fuels:

2.06%
Gambling:

0.23%
GMOs:

0.00%
Human Rights & Environmental Violations:

0.56%
Palm Oil:

0.01%
Tobacco:

0.05%
Weapons:

0.11%

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"Invests in cash and fixed interest with about a third of investments being in growth assets such as shares and real assets. May be suitable for investors who want to invest in a broad mix of assets and who are comfortable with a higher degree of volatility in returns than can be expected from the Conservative fund."

Value	$6.4M NZD
Period of data report	Wed Sept. 30th 2020
Members	Not provided
Fund started	Fri Oct. 9th 2015
Total annual fund fees	0.98%
Total performance based fees	0.0%
Manager's basic fee	0.76%
Administration charges	0.22%
Total other charges	28.5
Total other charges currency	NZD

Key Personnel

Kristen Kohere-Soutar	Currently: Chair - Mercer (N.Z.) Ltd (0 years, 10 months) Previously: Director - Mercer (N.Z.) Ltd (current) (3 years, 1 months)
Martin Lewington	Currently: CEO - Mercer (N.Z.) Ltd (11 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 (2 years, 11 months) Previously: Senior Manager Investment & Client Strategy - TCorp (NSW Treasury Corporation) (17 years, 0 months)
Ronan Mccabe	Currently: Acting Chief Investment Officer - New Zealand Mercer (N.Z.) Ltd (0 years, 1 months) Previously: Head of Portfolio Management Delegated Solutions Pacific Mercer Australia (Pty) Ltd (current) (1 years, 6 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Wed Sept. 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v