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 defensive funds is 1.99%.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
The fund is an actively managed portfolio of fixed interest securities. It is a low-risk investment product, focusing predominantly on corporate securities in the New Zealand and Australian market with a shorter average maturity than a standard fixed interest fund. Environmental, Social and Governance characteristics are integrated into our investment process. The fund aims to provide a Gross Return1 above the return of the Bloomberg NZBond Swaps 1–3 Year Index on a rolling three-year basis.
| Value | $48.7M NZD |
| Period of data report | 30th Sept. 2025 |
| Fund started | 28th Sept. 2007 |
| Total annual fund fees | 0.68% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.55% |
| Other management and administration charges | 0.13% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Ross Butler |
Currently: Chair - Mercer (N.Z.) Ltd (2 years, 5 months)
|
|
Kylie Willment |
Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (7 years, 11 months)
|
|
Padraig Brown |
Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (3 years, 4 months)
|
|
Robert Kavanagh |
Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (11 years, 6 months)
|
|
James Wilson |
Currently: Portfolio Manager - Mercer (N.Z.) Ltd (6 years, 8 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 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 | 3.87% | 4.82% |
| 2024 | 3.43% | 3.77% |
| 2023 | -0.79% | 0.61% |
| 2022 | -2.46% | -2.2% |
| 2021 | 2.15% | 1.35% |
| 2020 | 1.75% | 1.93% |
| 2019 | 2.76% | 2.63% |
| 2018 | 1.94% | 2.34% |
| 2017 | 1.52% | 1.98% |
| 2016 | 2.91% | 3.71% |
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 Sept. 2025.
New Zealand Government Bond 3.00% 20/04/2029
New Zealand NZ Fixed Interest AAA
New Zealand Government Bond 4.50% 15/05/2030
New Zealand NZ Fixed Interest AAA
ANZ Bank Of New Zealand Corporate Bond 2.999% 17/09/2031
New Zealand NZ Fixed Interest AA-
Rabobank Nederland Frn 08/12/2026
New Zealand Cash and Equivalents A+
Rabobank Nederland Frn 16/03/2026
New Zealand Cash and Equivalents A+
Gmt Bond Issuer Limited Corporate Bond 3.656% 20/12/2027
New Zealand NZ Fixed Interest BBB+
Christchurch International Airport Corporate Bond 5.53% 05/04/2027
New Zealand NZ Fixed Interest BBB+
New Zealand Local Government Funding Agency Bond 2.25% 15/05/2028
New Zealand NZ Fixed Interest AAA
Transpower New Zealand Frn 31/07/2026
New Zealand NZ Fixed Interest AA
Auckland International Airport Limited Frn 17/04/2026
New Zealand NZ Fixed Interest A-
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 0.0% |
| New Zealand Fixed Interest | 100.0% | 100.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 0.0% | 0.0% |
| 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 30th Sept. 2025.
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. 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, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fonterra ranks as the fifth largest source of greenhouse gas emissions among agri-food companies globally. This position is reflective of the heavy environmental footprint of the dairy industry, notably of methane (GHG) produced by dairy herds and other harm from intensive dairy farming practices such as through high nitrogen runoff into rivers, which flow into oceans.
The fund is an actively managed portfolio of fixed interest securities. It is a low-risk investment product, focusing predominantly on corporate securities in the New Zealand and Australian market with a shorter average maturity than a standard fixed interest fund. Environmental, Social and Governance characteristics are integrated into our investment process. The fund aims to provide a Gross Return1 above the return of the Bloomberg NZBond Swaps 1–3 Year Index on a rolling three-year basis.
| Value | $48.7M NZD |
| Period of data report | 30th Sept. 2025 |
| Fund started | 28th Sept. 2007 |
| Total annual fund fees | 0.68% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.55% |
| Other management and administration charges | 0.13% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Ross Butler |
Currently: Chair - Mercer (N.Z.) Ltd (2 years, 5 months)
|
|
Kylie Willment |
Currently: Chief Investment Officer, Pacific, Mercer Australia (Pty) Ltd (7 years, 11 months)
|
|
Padraig Brown |
Currently: Chief Investment Officer - New Zealand, Mercer (N.Z.) Ltd (3 years, 4 months)
|
|
Robert Kavanagh |
Currently: Head of Portfolio Management NZ - Mercer (N.Z.) Ltd (11 years, 6 months)
|
|
James Wilson |
Currently: Portfolio Manager - Mercer (N.Z.) Ltd (6 years, 8 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 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 | 3.87% | 4.82% |
| 2024 | 3.43% | 3.77% |
| 2023 | -0.79% | 0.61% |
| 2022 | -2.46% | -2.2% |
| 2021 | 2.15% | 1.35% |
| 2020 | 1.75% | 1.93% |
| 2019 | 2.76% | 2.63% |
| 2018 | 1.94% | 2.34% |
| 2017 | 1.52% | 1.98% |
| 2016 | 2.91% | 3.71% |
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 Sept. 2025.
New Zealand Government Bond 3.00% 20/04/2029
New Zealand NZ Fixed Interest AAA
New Zealand Government Bond 4.50% 15/05/2030
New Zealand NZ Fixed Interest AAA
ANZ Bank Of New Zealand Corporate Bond 2.999% 17/09/2031
New Zealand NZ Fixed Interest AA-
Rabobank Nederland Frn 08/12/2026
New Zealand Cash and Equivalents A+
Rabobank Nederland Frn 16/03/2026
New Zealand Cash and Equivalents A+
Gmt Bond Issuer Limited Corporate Bond 3.656% 20/12/2027
New Zealand NZ Fixed Interest BBB+
Christchurch International Airport Corporate Bond 5.53% 05/04/2027
New Zealand NZ Fixed Interest BBB+
New Zealand Local Government Funding Agency Bond 2.25% 15/05/2028
New Zealand NZ Fixed Interest AAA
Transpower New Zealand Frn 31/07/2026
New Zealand NZ Fixed Interest AA
Auckland International Airport Limited Frn 17/04/2026
New Zealand NZ Fixed Interest A-
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 0.0% |
| New Zealand Fixed Interest | 100.0% | 100.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.0% |
| International Equities | 0.0% | 0.0% |
| 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 30th Sept. 2025.
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. 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.
