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:

  • Adult Entertainment/Pornography
  • Alcohol
  • Animal Cruelty
  • Fossil Fuels
  • Gambling
  • GMOs
  • Human Rights & Environmental Violations
  • Palm Oil
  • Tobacco
  • Weapons

Companies of concern

    • Contact Energy Limited 0.55%
    • Nextera Energy Inc 0.18%
    • Shell PLC Ord Eur0.07 0.08%
    • Sempra Energy 0.07%
    • Totalenergies Se 0.07%
    • Dominion Energy 0.06%
    • BHP Group Limited Ordinary Fully Paid 0.05%
    • Enel Spa 0.05%
    • Entergy 0.05%
    • Nextera Energy Capital Holdings Inc 0.05%
    • Emera Inc 0.04%
    • Eni Spa 0.04%
    • Public Service Enterprise Group 0.04%
    • Santos Limited 0.04%
    • Xcel Energy Inc 0.04%
    • Allete Inc 0.03%
    • Alliant Energy Corp Com 0.03%
    • Dte Energy Co USD 0.03%
    • Duke Energy Corp Com USD 0.001 Post Rev Splt 0.03%
    • Enel Spa Eur1 0.03%
    • Mitsui & Co Ltd Jpy 0.03%
    • National Grid PLC Disc Coml Paper 4/2 Yrs 3&4 10-13-2022 0.03%
    • Oasis Petroleum Inc 0.03%
    • Snam Spa 0.03%
    • Anglo American PLC 0.02%
    • Avista Corp 0.02%
    • Ck Hutchison International 21 Ltd 1.5% Due 04-15-2026 Beo 0.02%
    • Cosmo Energy Holdings Co Ltd 0.02%
    • Enel Chile SA 4.875% 06-12-2028 0.02%
    • Enel Fin Intl Nv Fixed 4.25% Due 06-15-2025 0.02%
    • Guanghui Energy Co Ltd 0.02%
    • Hera Spa 0.02%
    • Hf Sinclair Corpor Com Usd0.01 0.02%
    • Hk Electric Investments Ltd 0.02%
    • Iberdrola SA 0.02%
    • Jizhong Energy Resources Co Ltd 0.02%
    • Mitsubishi Corp Y50 0.02%
    • Nippon Yusen Kk Npv Temp 0.02%
    • OMV AG 0.02%
    • Pg and E Corp 0.02%
    • Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.02%
    • Santos Finance Ltd 4.125% Gtd Snr 14/09/27 USD 0.02%
    • Southern Co Com USD 0.02%
    • Vale SA 0.02%
    • Aker BP Asa 1.125% Snr 12/05/2029 EUR 0.01%
    • Ampol Ltd Frn Cnv Gtd Sub 12/2081 AUD 0.01%
    • Canadian Natural Resources 0.01%
    • Ck Asset Holdings Hk 0.01%
    • Enel Fin Intl N V Fixed 3.625% Due 05-25-2027 0.01%
    • Equinor Asa 0.01%
    • Guangdong Investment Limited 0.01%
    • Harbour Energy PLC Ord Gbp0.00002 0.01%
    • Hera Eur1 0.01%
    • Iren Spa 1% Snr Emtn 01/07/2030 EUR 0.01%
    • Japan Petroleum Exploration 0.01%
    • Kinder Morgan Inc 4.3% Due 06-01-2025 0.01%
    • Naturgy Finance B. 1.5% Gtd Snr 29/01/2028 EUR 0.01%
    • Nextera Energy Cap Hldgs Inc Fltg Due 02-22-2023 0.01%
    • Pinnacle West Capital Corp 0.01%
    • Ppl Corporation 0.01%
    • Reliance Inds 3.667% Snr 30/11/2027 USD 0.01%
    • Repsol SA 0.01%
    • Sojitz Corporation 0.01%
    • Williams Companies Inc 2.6% 03-15-2031 0.01%
    • Mtu Aero Engines AG 0.02%
    • Performance Food Group Co 0.06%
    • Alimentation Couche-Tard 2.95% Due 01-25-2030 Beo 0.02%
    • Casey'S General Stores Inc 0.01%
    • Skycity Entertainment Group Limited 0.19%
    • Vici Properties Inc 0.03%
    • Constellation Brands Inc-A 0.09%
    • Royal Unibrew As 0.02%
    • Treasury Wine Estates Limited 0.02%
    • Heineken Holding Nv 0.01%
    • Nestle SA 0.09%
    • Motorola Solutions Inc 0.08%
    • Shell PLC Ord Eur0.07 0.08%
    • Barrick Gold Corporation 0.06%
    • Johnson & Johnson Com US$1 0.06%
    • BHP Group Limited Ordinary Fully Paid 0.05%
    • Nestle Holdings Inc 0.05%
    • Thermo Fisher Scientific Inc 0.04%
    • Activision Blizzard Inc 0.03%
    • Bayer AG 0.03%
    • Duke Energy Corp Com USD 0.001 Post Rev Splt 0.03%
    • Rio Tinto PLC Ord 10P Gbp 0.03%
    • Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.02%
    • Petroleo Brasileiro Petrobras SA 0.02%
    • Pg and E Corp 0.02%
    • Rio Tinto Fin Usa 5.2 Due 11-02-2040 0.02%
    • Vale SA 0.02%
    • Wells Fargo & Co 1.338%-Frn Snr 04/05/25Eur 0.02%
    • Credit Suisse Gp 2.875%-Frn Snr 02/04/32Eur 0.01%
    • First International Bank Of Israel Ltd 0.01%
    • Procter & Gamble Company 0.13%
    • Pepsico Inc Cap US$0.01 2/3 0.11%
    • Constellation Brands Inc-A 0.09%
    • Nestle SA 0.09%
    • Shell PLC Ord Eur0.07 0.08%
    • Koninklijke Ahold Delhaize Nv 0.06%
    • Colgate Palmolive Usd1 0.05%
    • Nestle Holdings Inc 0.05%
    • Eni Spa 0.04%
    • Kering 0.04%
    • Nomad Foods Ltd 0.04%
    • Tyson Foods Inc Class A 0.04%
    • Bayer AG 0.03%
    • Church & Dwight Co 0.03%
    • Coca Cola Co USD 0.03%
    • Estee Lauder Companies 0.03%
    • General Mills Inc 0.03%
    • Kellogg Company 0.03%
    • Kimberly Clark Corp Com Usd1.25 0.03%
    • Mondelez International Inc 0.03%
    • 3M Co 4.0% 09-14-2048 0.02%
    • Air Liquide 0.02%
    • Campbell Soup Co USD 0.02%
    • Capri Holdings Ltd Com Npv 0.02%
    • Colgate-Palmolive Co 4% Due 08-15-2045 0.02%
    • Essity Ab 1.625% Gtd Snr 30/03/27 EUR 0.02%
    • Hermes International 0.02%
    • Ingredion Inc Com USD 0.01 0.02%
    • Kimberly Clark De Mexico S A B De C V Fo2.431% Due 07-01-2031 Beo 0.02%
    • Koninklijke Dsm Nv 0.02%
    • L'Oreal 0.02%
    • Mitsubishi Corp Y50 0.02%
    • Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.02%
    • Ping An Insurance Group Of China Limited 0.02%
    • Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.02%
    • Sherwin Williams Com Usd1 0.02%
    • Solvay SA .5% 06/09/2029 0.02%
    • Symrise AG 0.02%
    • Aker BP Asa 1.125% Snr 12/05/2029 EUR 0.01%
    • Kimberly-Clark 6.625% Due 08-01-2037 0.01%
    • Mitsubishi Gas Chemical Co 0.01%
    • Nisshinbo Holdings Inc 0.01%
    • Orbia Advance Corp S A B De Cv 1.875% Due 05-11-2026 Beo 0.01%
    • Reliance Inds 3.667% Snr 30/11/2027 USD 0.01%
    • Unilever PLC 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 30th Sept. 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.

About this fund

Invests mainly in defensive assets such as fixed interest and cash, with about 40% 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 $8.4M NZD
Period of data report 31st Dec. 2022
Fund started 9th Oct. 2015
Total annual fund fees 0.95%
Total performance based fees 0.0%
Manager's basic fee 0.76%
Other management and administration charges 0.19%
Total other charges 0.0
Total other charges currency NZD

Kristen Kohere-Soutar

Currently: Chair - Mercer (N.Z.) Ltd (3 years, 1 months)
Previously: Director - Mercer (N.Z.) Ltd (current) (5 years, 4 months)

Martin Lewington

Currently: CEO - Mercer (N.Z.) Ltd (13 years, 10 months)
Previously: Head of Investments - Mercer (N.Z.) Ltd (3 years, 8 months)

Kylie Willment

Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (5 years, 2 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, 7 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, 9 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 31st Dec. 2022.

Investment Exclusions

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 0.19%
Animal Cruelty 1.80%
Fossil Fuels 2.89%
Gambling 0.23%
GMOs 0.00%
Human Rights & Environmental Violations 0.90%
Palm Oil 0.01%
Tobacco 0.09%
Weapons 0.03%

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

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
2022 0.34% 0.36%
2021 17.46% 11.14%
2020 -1.59% -1.06%
2019 4.47% 3.86%
2018 4.41% 4.38%
2017 5.71% 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 31st Dec. 2022.

Top 10 Investments

  • Robeco Global Credit Fund
    Australia Int Fixed Interest
    3.57%
  • Fx Positions
    Australia Int Fixed Interest
    2.99%
  • First Sentier Global Listed Infrastructure Fund
    New Zealand Other
    1.3%
  • ASB Bank Limited Rcd Maturing 24/03/2023
    New Zealand Cash and Equivalents AA-
    1.29%
  • New Zealand Government Bond 3.00% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    1.17%
  • New Zealand Government Bond 1.75% 15/05/2041
    New Zealand NZ Fixed Interest AAA
    1.1%
  • Fisher & Paykel Healthcare Corporation Limited
    New Zealand Australasian Equities
    1.0%
  • New Zealand Government Bond 0.5% 15/05/2024
    New Zealand NZ Fixed Interest AAA
    0.94%
  • Housing New Zealand Limited Bond 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AAA
    0.93%
  • New Zealand Government Bond 2.75% 15/04/2037
    New Zealand NZ Fixed Interest AAA
    0.91%
Type Target Actual
Cash and Cash Equivalents 18.0% 18.15%
New Zealand Fixed Interest 13.0% 12.98%
International Fixed Interest 29.0% 28.42%
Australasian Equities 9.5% 9.61%
International Equities 22.5% 21.68%
Listed Properties 2.0% 1.82%
Unlisted Properties 2.0% 2.2%
Other 4.0% 5.14%
Commodities 0.0% 0.0%

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 31st Dec. 2022.