Macquarie Global Income Opportunities Fund

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Fund type: Defensive fund

Past Returns: 0.12%

Average annual returns over the past 3 years, after fees and taxes. * indicates less than 3 years of data.

Annual Fees: 0.9%

Annual fees, including management and administration fees, but not membership fee.

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.


Fossil Fuel

Oneok Inc 7.5 01-Sep-2023 (Senior) 1.00%
Ampol Ltd Hybrid 6.2099 09-Dec-2080 Reg-S (Sub) 0.75%
Santos Finance Ltd. 5.25 13-Mar-2029 Reg-S (Senior Unsecured) 0.43%
Cheung Kong Infrastructure Finance 1.0 12-Dec-2024 Reg-S (Senior) 0.42%
Ck Hutchison Europe Finance 21 Ltd 0.75 02-Nov-2029 Reg-S (Senior Unsecured) 0.38%
Vistra Operations Company Llc 4.3 15-Jul-2029 144A (1St Lien) 0.33%
Ampol Ltd Hybrid 6.241 02-Dec-2081 Reg-S (Sub) 0.30%
Totalenergies Se Hybrid-P 2.708 31-Dec-2049 Reg-S (Junior Sub) 0.30%
Southern Company (The) Hybrid 1.875 15-Sep-2081 (Junior Sub) 0.21%
Southern Company Gas Capital Corpo 5.15 15-Sep-2032 (Senior Unsecured) 0.21%
BP Capital Markets America Inc 2.721 12-Jan-2032 (Senior Unsecured) 0.19%
Energy Transfer Lp Perp 6.5 31-Dec-2049 (Junior Sub) 0.17%
Valero Energy Corporation 3.65 01-Dec-2051 (Senior Unsecured) 0.16%
Duke Energy Corp 2.55 15-Jun-2031 (Senior Unsecured) 0.14%
Delta Air Lines Inc 7.0 01-May-2025 144A (1St Lien) 0.13%
Galaxy Pipeline Assets Bidco Ltd 2.16 31-Mar-2034 144A (Secured) 0.11%
Infraestructura Energetica Nova SA 3.75 14-Jan-2028 144A (Senior) 0.05%
Canacol Energy Ltd 5.75 24-Nov-2028 144A (Senior Unsecured) 0.04%
Geopark Ltd 5.5 17-Jan-2027 144A (Senior Unsecured) 0.04%
Thaioil Treasury Center Co Ltd 2.5 18-Jun-2030 144A (Senior) 0.03%
Vistra Operations (Tex Operations) Tl-B3 31-Dec-2025 0.02%

Weapons

Babcock International Group PLC 1.375 13-Sep-2027 Reg-S (Senior) 0.34%
Spirit Aerosystems Inc Tl-B 6.93571 15-Jan-2025 0.03%
Viasat Inc Tl-B 24-Feb-2029 0.03%

Gambling

Vici Properties Lp 4.95 15-Feb-2030 (Senior Unsecured) 0.37%
Scientific Games Corp Tl-B 5.98 14-Apr-2029 0.02%
Penn National Gaming Inc Tl-B 20-Apr-2029 0.01%

Alcohol

Central America Bottling Corp 5.25 27-Apr-2029 144A (Senior Unsecured) 0.04%

Human Rights & Environmental Violations

Wells Fargo & Company 4.808 25-Jul-2028 (Senior Unsecured) 0.20%
Energy Transfer Lp Perp 6.5 31-Dec-2049 (Junior Sub) 0.17%
Bunge Limited Finance Corporation 2.75 14-May-2031 (Senior Unsecured) 0.15%
Duke Energy Corp 2.55 15-Jun-2031 (Senior Unsecured) 0.14%
Bank Hapoalim Bm T2 3.255 21-Jan-2032 Dual 144A|Reg-S (Sub) 0.05%
Pg&E Corporation Tl-B 6.084 23-Jun-2025 0.02%

Animal Testing

PPG Industries Inc 2.75 01-Jun-2029 (Senior Unsecured) 0.32%
Celanese US Holdings Llc 6.165 15-Jul-2027 (Senior Unsecured) 0.20%
Celanese US Holdings Llc 6.05 15-Mar-2025 (Senior Unsecured) 0.10%
Entegris Inc Tl-B 02-Mar-2029 0.06%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 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.

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 -2.19% -2.1%
2021 1.34% 1.44%
2020 1.00% 1.02%
2019 2.36% 1.54%
2018 1.94% 1.31%
2017 1.52% 1.73%
2016 2.91% 2.19%
2015 5.21% 3.53%
2014 1.36% 2.47%

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 Fri Sept. 30th 2022.

Showing the top 10 investments for this fund:

  • National Australia Bank Ltd Ncd 23-Nov-2022
    Australia Int Fixed Interest AA-
    3.0%
  • BNP Paribas SA T2 2.625 14-Oct-2027 Reg-S (Sub)
    France Int Fixed Interest BBB+
    2.42%
  • Ing Groep Nv T2 3.0 11-Apr-2028 Reg-S (Sub)
    Netherlands Int Fixed Interest BBB
    2.1%
  • Abn Amro Bank Nv T2 2.875 18-Jan-2028 Reg-S (Sub)
    Netherlands Int Fixed Interest BBB
    1.85%
  • Nab 11Am Bank Deposits Crd 11Am 3.2
    Australia Int Fixed Interest AA-
    1.83%
  • National Australia Bank Ltd T2 6.322 03-Aug-2032 (Sub)
    Australia Int Fixed Interest BBB+
    1.46%
  • Barclays PLC T2 2.0 07-Feb-2028 Reg-S (Sub)
    United Kingdom Int Fixed Interest BBB
    1.19%
  • Transurban Queensland Finance Pty 4.5 19-Apr-2028 Reg-S (Secured)
    Australia Int Fixed Interest BBB
    1.06%
  • Oneok Inc 7.5 01-Sep-2023 (Senior)
    United States Int Fixed Interest BBB
    0.99%
  • Time Warner Entertainment Cmpny Lp 8.375 15-Mar-2023 (Senior)
    United States Int Fixed Interest BBB-
    0.99%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Fri Sept. 30th 2022.

How the money in this fund is invested against the fund's targets.

Target

Actual


Type Target Actual
Cash and Cash Equivalents 0.0% 2.99%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 100.0% 97.01%
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%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 2022.

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:
    0.04%
  • Animal Testing:
    0.68%
  • Fossil Fuels:
    5.40%
  • Gambling:
    0.40%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.74%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.40%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Fri Sept. 30th 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.

In their own words

"The fund is a diversified portfolio of highly rated global fixed interest securities. At the total portfolio level the fund will have a shorter maturity than most traditional fixed interest funds, with an emphasis on minimising capital loss. Environmental, Social and Governance characteristics are integrated into the underlying investment manager’s investment process."

Value $17M NZD
Period of data report Fri Sept. 30th 2022
Fund started Fri May 11th 2012
Total annual fund fees 0.9%
Total performance based fees 0.0%
Manager's basic fee 0.75%
Other management and administration charges 0.15%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Rebekah Swan

Currently: Head of New Zealand Public Investments, Macquarie Asset Management (NZ) Limited (0 years, 7 months)
Previously: Managing Director and Head of Client Services, AMP Capital Investors (New Zealand) Limited (1 years, 5 months)

Vicky Hyde-Smith

Currently: Associate Director, Macquarie Asset Management (NZ) Limited (0 years, 7 months)
Previously: Head of Fixed Income, AMP Capital Investors (New Zealand) Limited (5 years, 1 months)

Grant Hassell

Currently: Division Director, Macquarie Asset Management (NZ) Limited (0 years, 7 months)
Previously: Global Head of Fixed Income, AMP Capital Investors Limited (3 years, 4 months)

Michael Gray

Currently: Head of Investment Strategy (NZ), Macquarie Asset Management (NZ) Limited (0 years, 7 months)
Previously: Head of Investments NZ, AMP Capital Investors (New Zealand) Limited (1 years, 0 months)

Supriya Edwards

Currently: Investment Specialist, Macquarie Asset Management (NZ) Limited (0 years, 7 months)
Previously: Fixed Income Analyst, AMP Capital Investors (New Zealand) Limited (1 years, 7 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Fri Sept. 30th 2022.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Latest news

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.