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 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 concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
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 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 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.
Manufactures heavy equipment including large D9 bulldozers over a long period to the Israeli military. They have been used in demolishing Palestinian homes in illegally occupied territories, constructing illegal settlements and infrastructure. Also evidence of use in other conflict-affected areas, including Myanmar and the Western Sahara. Continued supply to conflict areas indicates lack of governance over human rights impacts and international norms.
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 companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
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.
The Pie Chairman’s Fund seeks to provide investors with long term growth by accessing the higher potential growth of predominantly smaller companies. It does this by investing predominantly in other Pie Funds Products. The Fund may also invest in cash and directly in Smaller Companies.
| Value | $215M NZD |
| Period of data report | 31st March 2025 |
| Fund started | 1st Sept. 2014 |
| Total annual fund fees | 1.81% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.77% |
| Other management and administration charges | 0.04% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (3 years, 0 months)
|
|
Michelle Lopez |
Currently: Head of Australasian Equities and Portfolio Manager (Lead) (2 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.
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 |
|---|---|---|
| 2025 | 3.04% | -0.48% |
| 2024 | 12.48% | 16.78% |
| 2023 | -4.05% | -6.04% |
| 2022 | 1.38% | 0.52% |
| 2021 | 27.68% | 53.42% |
| 2020 | -4.45% | -3.79% |
| 2019 | 6.12% | 3.98% |
| 2018 | 8.66% | 13.1% |
| 2017 | 7.20% | 10.37% |
| 2016 | 5.40% | 11.04% |
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 2025.
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-
Jpm Call Account - AUD
Australia Cash and Equivalents A+
Generation Development Group Ltd
Australia Australasian Equities
Frp Advisory Group PLC
United Kingdom International Equities
Jpm Call Account - USD
Australia Cash and Equivalents A+
Boku Inc
United Kingdom International Equities
Life360 Inc
Australia Australasian Equities
Aub Group Limited
Australia Australasian Equities
William Blair Sicav Fund
United States Australasian Equities
Dropsuite Ltd
Australia Australasian Equities
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 15.0% | 11.77% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 40.0% | 42.44% |
| International Equities | 45.0% | 45.79% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
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 2025.
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 2025 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 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 concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
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 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 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.
Manufactures heavy equipment including large D9 bulldozers over a long period to the Israeli military. They have been used in demolishing Palestinian homes in illegally occupied territories, constructing illegal settlements and infrastructure. Also evidence of use in other conflict-affected areas, including Myanmar and the Western Sahara. Continued supply to conflict areas indicates lack of governance over human rights impacts and international norms.
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 companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
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.
The Pie Chairman’s Fund seeks to provide investors with long term growth by accessing the higher potential growth of predominantly smaller companies. It does this by investing predominantly in other Pie Funds Products. The Fund may also invest in cash and directly in Smaller Companies.
| Value | $215M NZD |
| Period of data report | 31st March 2025 |
| Fund started | 1st Sept. 2014 |
| Total annual fund fees | 1.81% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.77% |
| Other management and administration charges | 0.04% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (3 years, 0 months)
|
|
Michelle Lopez |
Currently: Head of Australasian Equities and Portfolio Manager (Lead) (2 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.
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 |
|---|---|---|
| 2025 | 3.04% | -0.48% |
| 2024 | 12.48% | 16.78% |
| 2023 | -4.05% | -6.04% |
| 2022 | 1.38% | 0.52% |
| 2021 | 27.68% | 53.42% |
| 2020 | -4.45% | -3.79% |
| 2019 | 6.12% | 3.98% |
| 2018 | 8.66% | 13.1% |
| 2017 | 7.20% | 10.37% |
| 2016 | 5.40% | 11.04% |
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 2025.
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-
Jpm Call Account - AUD
Australia Cash and Equivalents A+
Generation Development Group Ltd
Australia Australasian Equities
Frp Advisory Group PLC
United Kingdom International Equities
Jpm Call Account - USD
Australia Cash and Equivalents A+
Boku Inc
United Kingdom International Equities
Life360 Inc
Australia Australasian Equities
Aub Group Limited
Australia Australasian Equities
William Blair Sicav Fund
United States Australasian Equities
Dropsuite Ltd
Australia Australasian Equities
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 15.0% | 11.77% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 40.0% | 42.44% |
| International Equities | 45.0% | 45.79% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
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 2025.
