Funds
Mercer Defence Force Balanced Fund
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
Fossil Fuel
- Contact Energy Limited 0.75%
- Nextera Energy Inc 0.26%
- Sempra Energy 0.13%
- Shell PLC Ord Eur0.07 0.12%
- Totalenergies Se 0.11%
- Dominion Energy 0.11%
- Entergy 0.11%
- Xcel Energy Inc 0.09%
- Enel Spa 0.08%
- Eni Spa 0.07%
- Public Service Enterprise Group 0.07%
- BHP Group Limited Ordinary Fully Paid 0.06%
- Dte Energy Co USD 0.06%
- Duke Energy Corp Com USD 0.001 Post Rev Splt 0.06%
- Emera Inc 0.06%
- Oasis Petroleum Inc 0.06%
- Santos Limited 0.06%
- Allete Inc 0.05%
- Alliant Energy Corp Com 0.05%
- Enel Spa Eur1 0.05%
- Avista Corp 0.04%
- Hera Spa 0.04%
- Hf Sinclair Corpor Com Usd0.01 0.04%
- Mitsui & Co Ltd Jpy 0.04%
- Nextera Energy Capital Holdings Inc 0.04%
- OMV AG 0.04%
- Pg and E Corp 0.04%
- Snam Spa 0.04%
- Southern Co Com USD 0.04%
- Vale SA 0.04%
- Cosmo Energy Holdings Co Ltd 0.03%
- Equinor Asa 0.03%
- Guanghui Energy Co Ltd 0.03%
- Hk Electric Investments Ltd 0.03%
- Iberdrola SA 0.03%
- Jizhong Energy Resources Co Ltd 0.03%
- Mitsubishi Corp Y50 0.03%
- Nippon Yusen Kk Npv Temp 0.03%
- American Electric Power Company Inc 0.02%
- Ampol Ltd Frn Cnv Gtd Sub 12/2081 AUD 0.02%
- Anglo American PLC 0.02%
- Canadian Natural Resources 0.02%
- Ck Asset Holdings Hk 0.02%
- Ck Hutchison International 21 Ltd 1.5% Due 04-15-2026 Beo 0.02%
- Enbridge Inc 0.02%
- Enel Fin Intl Nv Fixed 4.25% Due 06-15-2025 0.02%
- Guangdong Investment Limited 0.02%
- Guizhou Panjiang Refined Coal Co Ltd 0.02%
- Harbour Energy PLC Ord Gbp0.00002 0.02%
- Hera Eur1 0.02%
- Japan Petroleum Exploration 0.02%
- Murphy Oil Corp 0.02%
- National Grid PLC Disc Coml Paper 4/2 Yrs 3&4 10-13-2022 0.02%
- Petrochina Co Ltd 0.02%
- Pinnacle West Capital Corp 0.02%
- Ppl Corporation 0.02%
- Repsol SA 0.02%
- Santos Finance Ltd 4.125% Gtd Snr 14/09/27 USD 0.02%
- Sojitz Corporation 0.02%
- Cheniere Energy Inc 0.01%
- China Petroleum & Chemical 0.01%
- Chugoku Electric Power Co 0.01%
- Dt Midstream Inc Com Usd0.01 0.01%
- Enel Chile SA 4.875% 06-12-2028 0.01%
- Enel Fin Intl N V Fixed 3.625% Due 05-25-2027 0.01%
- Enel Finance Intl Nv 12/07/2028 1.875% 07-12-2028 0.01%
- Marubeni Corporation 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%
- Nippon Steel Trading Corporation 0.01%
- Osk Mitsui Osk Lines Ltd 0.01%
- Petrochina Co Ltd H 0.01%
- Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.01%
- Reliance Inds 3.667% Snr 30/11/2027 USD 0.01%
- Saudi Arabian Oil 0.01%
- Tohoku Electric Power Jpy 0.01%
- Valero Energy Corp 0.01%
- Williams Companies Inc 0.01%
Weapons
- Mtu Aero Engines AG 0.03%
Tobacco
- Performance Food Group Co 0.09%
- Casey'S General Stores Inc 0.02%
- Alimentation Couche-Tard 2.95% Due 01-25-2030 Beo 0.01%
- Eve Energy Co Ltd 0.01%
Gambling
- Skycity Entertainment Group Limited 0.26%
- Vici Properties Inc 0.05%
Alcohol
- Constellation Brands Inc-A 0.15%
- Royal Unibrew As 0.04%
- Treasury Wine Estates Limited 0.03%
- Heineken Holding Nv 0.02%
- Ambev SA Com Npv 0.01%
- Weichow Moutai Co Ltd 0.01%
Human Rights & Environmental Violations
- Nestle SA 0.16%
- Motorola Solutions Inc 0.12%
- Shell PLC Ord Eur0.07 0.12%
- Johnson & Johnson Com US$1 0.10%
- Barrick Gold Corporation 0.09%
- Activision Blizzard Inc 0.06%
- BHP Group Limited Ordinary Fully Paid 0.06%
- Duke Energy Corp Com USD 0.001 Post Rev Splt 0.06%
- Thermo Fisher Scientific Inc 0.06%
- Bayer AG 0.05%
- Rio Tinto PLC Ord 10P Gbp 0.05%
- Nestle Holdings Inc 0.04%
- Pg and E Corp 0.04%
- Vale SA 0.04%
- First International Bank Of Israel Ltd 0.03%
- Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.03%
- Petroleo Brasileiro Petrobras SA 0.03%
- Petrochina Co Ltd 0.02%
- Wells Fargo & Co 1.338%-Frn Snr 04/05/25Eur 0.02%
- China Petroleum & Chemical 0.01%
- Petrochina Co Ltd H 0.01%
- Rio Tinto Fin Usa 5.2 Due 11-02-2040 0.01%
- Southern Copper Corporation 0.01%
Animal Cruelty
- Procter & Gamble Company 0.22%
- Pepsico Inc Cap US$0.01 2/3 0.18%
- Nestle SA 0.16%
- Constellation Brands Inc-A 0.15%
- Shell PLC Ord Eur0.07 0.12%
- Colgate Palmolive Usd1 0.09%
- Koninklijke Ahold Delhaize Nv 0.09%
- Eni Spa 0.07%
- Nomad Foods Ltd 0.07%
- Church & Dwight Co 0.06%
- General Mills Inc 0.06%
- Kellogg Company 0.06%
- Kering 0.06%
- Kimberly Clark Corp Com Usd1.25 0.06%
- Mondelez International Inc 0.06%
- Tyson Foods Inc Class A 0.06%
- Bayer AG 0.05%
- Coca Cola Co USD 0.05%
- Estee Lauder Companies 0.05%
- Campbell Soup Co USD 0.04%
- Capri Holdings Ltd Com Npv 0.04%
- Hermes International 0.04%
- Koninklijke Dsm Nv 0.04%
- Nestle Holdings Inc 0.04%
- Ping An Insurance Group Of China Limited 0.04%
- Air Liquide 0.03%
- Ingredion Inc Com USD 0.01 0.03%
- L'Oreal 0.03%
- Mitsubishi Corp Y50 0.03%
- Nestle Hldgs Inc 0.875% Gtd Snr 18/07/25Eur 0.03%
- Nisshinbo Holdings Inc 0.03%
- Sherwin Williams Com Usd1 0.03%
- Symrise AG 0.03%
- Darling Ingredients Inc 0.02%
- Essity Ab 1.625% Gtd Snr 30/03/27 EUR 0.02%
- Kimberly Clark De Mexico S A B De C V Fo2.431% Due 07-01-2031 Beo 0.02%
- Mitsubishi Gas Chemical Co 0.02%
- Orbia Advance Corp S A B De Cv 1.875% Due 05-11-2026 Beo 0.02%
- Unilever PLC 0.02%
- 3M Co 4.0% 09-14-2048 0.01%
- China Petroleum & Chemical 0.01%
- Colgate-Palmolive Co 4% Due 08-15-2045 0.01%
- Ezaki Glico Co Ltd 0.01%
- Hokuto Corp 0.01%
- Hormel Foods Corporation 0.01%
- Kerry Group PLC 0.01%
- Kimberly-Clark 6.625% Due 08-01-2037 0.01%
- Morinaga Milk Industry Co Ltd 0.01%
- Orkla Asa 0.01%
- Pvh Corp Com Usd1.00 0.01%
- Pvtpl Danone Nt 144A 2.589% Due 11-02-2023/11-02-2016 Beo 0.01%
- Pvtpl Eni S P A Nt X 4.75% Due 09-12-2028 0.01%
- Reliance Inds 3.667% Snr 30/11/2027 USD 0.01%
- Solvay SA .5% 06/09/2029 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
In their own words
Invests mainly in growth assets such as shares and real assets with about 40% invested in defensive assets such as fixed interest and cash. May be suitable for investors who want a diversified investment with exposure to shares, real assets, fixed interest and cash, who are comfortable with a higher degree of volatility in returns than can be expected from the Moderate fund and who can invest for the long term.
| Value | $28M NZD |
| Period of data report | 31st Dec. 2022 |
| Fund started | 9th Oct. 2015 |
| Total annual fund fees | 1.02% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.81% |
| Other management and administration charges | 0.21% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Kristen Kohere-Soutar |
Currently: Chair - Mercer (N.Z.) Ltd (3 years, 1 months) |
|
Martin Lewington |
Currently: CEO - Mercer (N.Z.) Ltd (13 years, 10 months) |
|
Kylie Willment |
Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (5 years, 2 months) |
|
Padraig Brown |
Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (0 years, 7 months) |
|
Robert Kavanagh |
Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (8 years, 9 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 | 0.30% | |
| Animal Cruelty | 2.80% | |
| Fossil Fuels | 4.20% | |
| Gambling | 0.33% | |
| GMOs | 0.00% | |
| Human Rights & Environmental Violations | 1.37% | |
| Palm Oil | 0.01% | |
| Tobacco | 0.14% | |
| Weapons | 0.05% |
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% | 1.49% |
| 2021 | 17.46% | 17.8% |
| 2020 | -1.59% | -3.0% |
| 2019 | 4.47% | 4.74% |
| 2018 | 4.41% | 5.93% |
| 2017 | 5.71% | 6.62% |
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 Interest2.88% -
Fx Positions
Australia Int Fixed Interest2.37% -
First Sentier Global Listed Infrastructure Fund
New Zealand Other1.91% -
Fisher & Paykel Healthcare Corporation Limited
New Zealand Australasian Equities1.31% -
BNP Paribas US Dollar Account
United States International Equities1.09% -
Kkr & Co Lp Global Infrastructure Fund
Australia Other1.0% -
Westpac Business Interest Account
New Zealand Cash and Equivalents AA-0.95% -
Auckland International Airport Limited
New Zealand Australasian Equities0.91% -
New Zealand Government Bond 3.00% 20/04/2029
New Zealand NZ Fixed Interest AAA0.89% -
New Zealand Government Bond 1.75% 15/05/2041
New Zealand NZ Fixed Interest AAA0.84%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 4.0% | 4.49% |
| New Zealand Fixed Interest | 10.0% | 9.89% |
| International Fixed Interest | 26.0% | 25.43% |
| Australasian Equities | 12.5% | 12.56% |
| International Equities | 35.5% | 34.48% |
| Listed Properties | 3.0% | 2.82% |
| Unlisted Properties | 3.0% | 3.11% |
| Other | 6.0% | 7.22% |
| Commodities | 0.0% | 0.0% |
Investment Mix
How the money in this fund is invested against the fund's targets.
Target
Actual
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.