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 conservative funds is 3.17%.
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 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.
Diversified personal-care, homecare, and packaged food company. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
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 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 shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
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.
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
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.
Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
French based global oil major (7th largest in the world). In 2022 it produced 970 million barrels of oil and the company plans to expand their operations with an additional 7,970 million barrels in the short term (1-7 years). This planned term expansion overshoots the IEA Net-Zero Emissions Scenario by 57%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
The Conservative Fund seeks to preserve members’ capital, with some capital growth, which outperforms the market index. The Fund is a diversified fund investing primarily in fixed interest securities and some cash, with an allocation to equities either directly or through products issued by Pie Funds.
| Value | $216M NZD |
| Period of data report | 31st Dec. 2024 |
| Fund started | 15th April 2015 |
| Total annual fund fees | 0.77% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.76% |
| Other management and administration charges | 0.01% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (2 years, 9 months)
|
|
Travis Murdoch |
Currently: Head of Fixed Income and Portfolio Manager (2 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
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 |
|---|---|---|
| 2024 | 5.67% | 7.68% |
| 2023 | -1.56% | -0.13% |
| 2022 | -0.50% | 0.12% |
| 2021 | 8.70% | 8.04% |
| 2020 | -0.05% | 0.14% |
| 2019 | 4.31% | 2.73% |
| 2018 | 3.39% | 4.69% |
| 2017 | 3.28% | 4.33% |
| 2016 | 2.92% | 3.4% |
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. 2024.
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-
Kiwibank Term Deposit
New Zealand Cash and Equivalents AA
Westpac Term Deposit
New Zealand Cash and Equivalents AA-
Transpower New Zealand Ltd 4.977% 29/11/2028
New Zealand Int Fixed Interest AA
Morrison & Co High Conviction Infra Fund
New Zealand International Equities
Bank Of New Zealand 4.889% 19/11/2029
New Zealand NZ Fixed Interest AA-
Ibm 3.625% 06/02/2031
United States Int Fixed Interest A-
Jpmorgan Chase & Co 5.336% 23/01/2035
United States Int Fixed Interest A
ASB Bank Ltd Float 18/10/2027
New Zealand NZ Fixed Interest AA-
Royal Bank Of Canada 4.95% 01/02/2029
Canada Int Fixed Interest A
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 25.0% | 19.51% |
| New Zealand Fixed Interest | 15.0% | 17.38% |
| International Fixed Interest | 35.0% | 35.5% |
| Australasian Equities | 6.0% | 5.67% |
| International Equities | 19.0% | 21.95% |
| 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 Dec. 2024.
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. 2024 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, 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 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.
Diversified personal-care, homecare, and packaged food company. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
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 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 shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
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.
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
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.
Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
French based global oil major (7th largest in the world). In 2022 it produced 970 million barrels of oil and the company plans to expand their operations with an additional 7,970 million barrels in the short term (1-7 years). This planned term expansion overshoots the IEA Net-Zero Emissions Scenario by 57%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
The Conservative Fund seeks to preserve members’ capital, with some capital growth, which outperforms the market index. The Fund is a diversified fund investing primarily in fixed interest securities and some cash, with an allocation to equities either directly or through products issued by Pie Funds.
| Value | $216M NZD |
| Period of data report | 31st Dec. 2024 |
| Fund started | 15th April 2015 |
| Total annual fund fees | 0.77% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.76% |
| Other management and administration charges | 0.01% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (2 years, 9 months)
|
|
Travis Murdoch |
Currently: Head of Fixed Income and Portfolio Manager (2 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2024.
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 |
|---|---|---|
| 2024 | 5.67% | 7.68% |
| 2023 | -1.56% | -0.13% |
| 2022 | -0.50% | 0.12% |
| 2021 | 8.70% | 8.04% |
| 2020 | -0.05% | 0.14% |
| 2019 | 4.31% | 2.73% |
| 2018 | 3.39% | 4.69% |
| 2017 | 3.28% | 4.33% |
| 2016 | 2.92% | 3.4% |
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. 2024.
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-
Kiwibank Term Deposit
New Zealand Cash and Equivalents AA
Westpac Term Deposit
New Zealand Cash and Equivalents AA-
Transpower New Zealand Ltd 4.977% 29/11/2028
New Zealand Int Fixed Interest AA
Morrison & Co High Conviction Infra Fund
New Zealand International Equities
Bank Of New Zealand 4.889% 19/11/2029
New Zealand NZ Fixed Interest AA-
Ibm 3.625% 06/02/2031
United States Int Fixed Interest A-
Jpmorgan Chase & Co 5.336% 23/01/2035
United States Int Fixed Interest A
ASB Bank Ltd Float 18/10/2027
New Zealand NZ Fixed Interest AA-
Royal Bank Of Canada 4.95% 01/02/2029
Canada Int Fixed Interest A
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 25.0% | 19.51% |
| New Zealand Fixed Interest | 15.0% | 17.38% |
| International Fixed Interest | 35.0% | 35.5% |
| Australasian Equities | 6.0% | 5.67% |
| International Equities | 19.0% | 21.95% |
| 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 Dec. 2024.
