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:

  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Meta Platforms Inc-Class A 0.19%
    • Rio Tinto PLC-Spon Adr 0.04%
    • Thermo Fisher Scientific Inc 0.03%
    • Shell PLC 0.53% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • BHP Group Ltd 0.03% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Newcrest Mining Ltd 0.01%
    • Shell PLC 0.53% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Contact Energy Ltd 0.84% 1.5°C
      This company is on a 1.5°C pathway
    • Ameren Corporation 0.59%
    • Shell PLC 0.53% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Apa Group 0.50% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Cheniere Energy Inc 0.39% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Santos Ltd 0.33% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Nextera Energy Inc 0.13%
    • Teck Resources Ltd-Cls B 0.13%
    • Orsted A/S 0.09% 1.5°C
      This company is on a 1.5°C pathway
    • Rwe AG 0.09%
    • Iberdrola SA 0.06% 1.5°C
      This company is on a 1.5°C pathway
    • BHP Group Ltd 0.03% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Viva Energy Group Ltd 0.02% !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
    • Ampol Ltd 0.01%
    • Monadelphous Group Ltd 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 31st March 2023 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

The Fund’s objective is to provide moderate returns and protect capital after the base fund fee but before tax over the minimum recommended investment timeframe of three years.



It is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities.

Value $560M NZD
Period of data report 30th June 2023
Fund started 1st Sept. 2015
Total annual fund fees 0.95%
Total performance based fees 0.0%
Manager's basic fee 0.94%
Other management and administration charges 0.01%
Total other charges 0.0
Total other charges currency NZD

Mark Riggall

Currently: Portfolio Manager, Senior Dealer (8 years, 6 months)
Previously: Executive Director of Equity Derivatives Trading at Morgan Stanley, United Kingdom and Hong Kong (11 years, 0 months)

Paul Morris

Currently: Portfolio Manager (7 years, 5 months)
Previously: Head of Portfolio Strategy and Fixed Income at Macquarie Private Wealth, New Zealand (4 years, 6 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th June 2023.

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
2023 -1.56% 0.19%
2022 -0.95% -0.81%
2021 8.70% 8.59%
2020 0.08% 0.93%
2019 4.31% 4.5%
2018 3.39% 4.63%
2017 3.28% 5.52%

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 30th June 2023.

Top 10 Investments

  • NZ Government Inflation Indexed 2.00% 20/09/2025
    New Zealand NZ Fixed Interest AAA
    4.44%
  • NZD Cash Call Account (Bank Of China)
    New Zealand Cash and Equivalents A
    1.88%
  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    1.76%
  • NZ Local Government Funding 1.5% 15/04/2026
    New Zealand NZ Fixed Interest AAA
    1.13%
  • Housing New Zealand 3.42% 18/10/2028
    New Zealand NZ Fixed Interest AAA
    1.09%
  • NZ Local Government Funding 1.5% 20/04/2029
    New Zealand NZ Fixed Interest AAA
    1.02%
  • Gta Finance Company 2.2% 26/08/2027
    Australia Int Fixed Interest BBB
    0.97%
  • AUD Cash Current Account (Nab Bank)
    Australia Cash and Equivalents AA-
    0.94%
  • Westpac 6.934% 23/06/2038
    Australia Int Fixed Interest BBB+
    0.93%
  • ASB Bank 5.398% 29/11/2027
    New Zealand Int Fixed Interest AA-
    0.88%
Type Target Actual
Cash and Cash Equivalents 7.0% 12.83%
New Zealand Fixed Interest 25.0% 24.55%
International Fixed Interest 50.0% 48.52%
Australasian Equities 4.0% 4.77%
International Equities 9.0% 6.84%
Listed Properties 5.0% 2.22%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.27%
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 30th June 2023.