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.
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.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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.
The largest supplier of weapons to Israel, particularly missile guidance systems, bombs, and aircraft. There is evidence these weapons and weapons components have been used by the Israeli military in Gaza and linked to severe suffering and human rights violations. Boeing has experienced a high frequency of issues and accidents, particularly involving the 737 Max and Dreamliner models. This situation indicates systemic issues with safety culture with serious consequences.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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.
The largest supplier of weapons to Israel, particularly missile guidance systems, bombs, and aircraft. There is evidence these weapons and weapons components have been used by the Israeli military in Gaza and linked to severe suffering and human rights violations. Boeing has experienced a high frequency of issues and accidents, particularly involving the 737 Max and Dreamliner models. This situation indicates systemic issues with safety culture with serious consequences.
The Income Fund invests in an actively managed portfolio of sovereign bonds, investment grade corporate bonds, mortgage securities, currencies, and other similar securities. The Income Fund can also invest in emerging market debt, high yield debt, and below investment grade non-sovereign and corporate debt.
| Value | $410M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 27th March 2018 |
| Total annual fund fees | 0.77% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.67% |
| Other management and administration charges | 0.1% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Rino Lupo |
Currently: Director, Head of Legal and Operations, Legg Mason Australia (23 years, 5 months)
|
|
Anujeet Sareen |
Currently: Portfolio Manager, Brandywine Global (9 years, 9 months)
|
|
Jack Mcintyre |
Currently: Portfolio Manager, Brandywine Global (13 years, 9 months)
|
|
Paul Mielczarski |
Currently: Head of Global Macro Strategy (3 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 1.96% | 2.48% |
| 2025 | 3.78% | 0.15% |
| 2024 | 3.39% | 1.03% |
| 2023 | -0.79% | -5.52% |
| 2022 | -2.46% | 0.85% |
| 2021 | 2.15% | 14.86% |
| 2020 | 1.75% | -7.36% |
| 2019 | 2.76% | -1.62% |
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 March 2026.
United States Treasury 311027 Frn
United States Int Fixed Interest AA+
Buoni Poliennali Del Tes 010236 3.45 Gb
Italy Int Fixed Interest BBB+
Sp4T0Fdrs Ccp Sell Cdx USD 200631 Cdx.Na.Hy.46 5% Ms
United States Other
Colombia Republic Of Government 250746 11.50 Gb
Colombia Int Fixed Interest BB
Cash At Bank (BNZ)
New Zealand Cash and Equivalents AA-
Queensland Treasury Corp 210736 5.25 Gb
Australia Int Fixed Interest AA
Mexico United Mexican States Government 310753 8.00 Gb
Mexico Int Fixed Interest BBB
United Kingdom Of Great Britain and Northern 310754 4.375 Gb
United Kingdom Int Fixed Interest AA-
US Treasury Frn 310128 Frn
United States Int Fixed Interest AA+
United Kingdom Gilt 070335 4.50 Gb
United Kingdom Int Fixed Interest AA-
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 4.04% |
| New Zealand Fixed Interest | 0.0% | 2.83% |
| International Fixed Interest | 100.0% | 96.85% |
| 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% | -3.72% |
| 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 March 2026.
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 2026 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.
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.
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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.
The largest supplier of weapons to Israel, particularly missile guidance systems, bombs, and aircraft. There is evidence these weapons and weapons components have been used by the Israeli military in Gaza and linked to severe suffering and human rights violations. Boeing has experienced a high frequency of issues and accidents, particularly involving the 737 Max and Dreamliner models. This situation indicates systemic issues with safety culture with serious consequences.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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.
The largest supplier of weapons to Israel, particularly missile guidance systems, bombs, and aircraft. There is evidence these weapons and weapons components have been used by the Israeli military in Gaza and linked to severe suffering and human rights violations. Boeing has experienced a high frequency of issues and accidents, particularly involving the 737 Max and Dreamliner models. This situation indicates systemic issues with safety culture with serious consequences.
The Income Fund invests in an actively managed portfolio of sovereign bonds, investment grade corporate bonds, mortgage securities, currencies, and other similar securities. The Income Fund can also invest in emerging market debt, high yield debt, and below investment grade non-sovereign and corporate debt.
| Value | $410M NZD |
| Period of data report | 31st March 2026 |
| Fund started | 27th March 2018 |
| Total annual fund fees | 0.77% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.67% |
| Other management and administration charges | 0.1% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Rino Lupo |
Currently: Director, Head of Legal and Operations, Legg Mason Australia (23 years, 5 months)
|
|
Anujeet Sareen |
Currently: Portfolio Manager, Brandywine Global (9 years, 9 months)
|
|
Jack Mcintyre |
Currently: Portfolio Manager, Brandywine Global (13 years, 9 months)
|
|
Paul Mielczarski |
Currently: Head of Global Macro Strategy (3 years, 2 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2026.
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 |
|---|---|---|
| 2026 | 1.96% | 2.48% |
| 2025 | 3.78% | 0.15% |
| 2024 | 3.39% | 1.03% |
| 2023 | -0.79% | -5.52% |
| 2022 | -2.46% | 0.85% |
| 2021 | 2.15% | 14.86% |
| 2020 | 1.75% | -7.36% |
| 2019 | 2.76% | -1.62% |
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 March 2026.
United States Treasury 311027 Frn
United States Int Fixed Interest AA+
Buoni Poliennali Del Tes 010236 3.45 Gb
Italy Int Fixed Interest BBB+
Sp4T0Fdrs Ccp Sell Cdx USD 200631 Cdx.Na.Hy.46 5% Ms
United States Other
Colombia Republic Of Government 250746 11.50 Gb
Colombia Int Fixed Interest BB
Cash At Bank (BNZ)
New Zealand Cash and Equivalents AA-
Queensland Treasury Corp 210736 5.25 Gb
Australia Int Fixed Interest AA
Mexico United Mexican States Government 310753 8.00 Gb
Mexico Int Fixed Interest BBB
United Kingdom Of Great Britain and Northern 310754 4.375 Gb
United Kingdom Int Fixed Interest AA-
US Treasury Frn 310128 Frn
United States Int Fixed Interest AA+
United Kingdom Gilt 070335 4.50 Gb
United Kingdom Int Fixed Interest AA-
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 0.0% | 4.04% |
| New Zealand Fixed Interest | 0.0% | 2.83% |
| International Fixed Interest | 100.0% | 96.85% |
| 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% | -3.72% |
| 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 March 2026.
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 2026 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.
