Macquarie Global Multi-Asset Fund

Not Mindful

Fund type: Balanced fund

Past Returns: 3.13%

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

Annual Fees: 1.42%

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

BHP Group Ltd 0.55%
Woodside Energy Group Ltd 0.24%
Nextera Energy Inc 0.21%
Santos Ltd 0.19%
Santos Finance Ltd. 0.18%
Ampol Ltd 0.17%
South32 Ltd 0.17%
Apa Infrastructure Ltd 0.15%
Sempra Energy 0.12%
Origin Energy Ltd 0.12%
Dominion Energy 0.09%
Origin Energy Finance Ltd 0.09%
Entergy 0.08%
Equinor Asa 0.07%
Public Service Enterprise Group 0.07%
Shell PLC 0.07%
Xcel Energy Inc 0.07%
Emera Inc 0.06%
Alliant Energy Corp Com 0.05%
Coterra Energy Inc 0.05%
Avista Corp 0.04%
Enel Spa Eur1 0.04%
Cheniere Energy Partners Lp 0.03%
Conocophillips 0.03%
Contact Energy Ltd 0.03%
Devon Energy Corporation 0.03%
Eqt Corp 0.03%
Mitsubishi Corporation 0.03%
Pertamina Persero Pt 0.03%
Aes Corporation (The) 0.02%
Aker BP Asa 0.02%
Cenovus Energy Inc 0.02%
Delta Air Lines Inc 0.02%
Enbridge Inc 0.02%
Guangdong Investment Limited 0.02%
Hera Eur1 0.02%
Iberdrola SA 0.02%
Mc Brazil Downstream Trading Sarl 0.02%
Nrg Energy Inc 0.02%
Occidental Petroleum Corporation 0.02%
Pinnacle West Capital Corp 0.02%
Reliance Industries Ltd 0.02%
Sinochem Offshore Capital Co Ltd 0.02%
Targa Resources Partners Lp 0.02%
Beach Energy Ltd 0.01%
Brickworks Ltd 0.01%
Cheniere Energy Inc 0.01%
Coronado Global Resources Inc 0.01%
Ecopetrol SA 0.01%
Eni Spa 0.01%
Galaxy Pipeline Assets Bidco Ltd 0.01%
Gc Treasury Center Co Ltd 0.01%
Hera Spa 0.01%
Hess Midstream Operations Lp 0.01%
Inpex Corp 0.01%
Lg Uplus Corp 0.01%
Marathon Petroleum Corp 0.01%
Mplx Lp 0.01%
Nisource Inc 0.01%
Repsol SA 0.01%
Southwestern Energy Company 0.01%

Weapons

Amphenol Corporation 0.02%
Airbus Se 0.01%
L3Harris Technologies Inc 0.01%

Tobacco

Gambling

Aristocrat Leisure Ltd 0.04%
Churchill Downs Incorporated 0.02%
Las Vegas Sands Corp 0.02%

Adult Entertainment/Pornography

Alcohol

Metcash Ltd 0.08%
Anheuser-Busch Inbev Worldwide Inc 0.03%
Diageo PLC 0.03%
United Malt Group Ltd 0.03%

Palm Oil

GMOs

Corteva Inc 0.03%

Human Rights & Environmental Violations

BHP Group Ltd 0.54%
Thermo Fisher Scientific Inc 0.43%
Rio Tinto Ltd 0.27%
Johnson & Johnson 0.08%
Shell PLC 0.07%
Nestle SA 0.06%
Corteva Inc 0.02%
Wells Fargo & Company 0.02%
Bunge Limited Finance Corporation 0.01%
Credit Suisse Group AG 0.01%

Animal Testing

Pepsico Inc 0.08%
Nestle SA 0.07%
Shell PLC 0.07%
Orica Ltd 0.06%
Procter & Gamble Co 0.04%
Corteva Inc 0.03%
Mitsubishi Corporation 0.03%
Aker BP Asa 0.02%
China Ping An Insurance Overseas (Holdings) Ltd 0.02%
Coca-Cola Co 0.02%
Colgate-Palmolive Co 0.02%
Daikin Industries Ltd 0.02%
Kimberly-Clark Corporation 0.02%
Kraft Heinz Foods Co 0.02%
LVMH Moet Hennessy Louis Vuitton Se 0.02%
Loreal SA 0.02%
Reliance Industries Ltd 0.02%
Sinochem Offshore Capital Co Ltd 0.02%
3M Co 0.01%
Croda International PLC 0.01%
Eni Spa 0.01%
Estee Lauder Companies Inc. (The) 0.01%
Gc Treasury Center Co Ltd 0.01%
Sherwin-Williams Company (The) 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 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	0.34%	1.01%
2021	17.46%	13.52%
2020	-1.59%	-5.14%
2019	4.47%	-0.42%
2018	4.41%	2.51%
2017	5.71%	6.75%
2016	3.06%	-0.11%
2015	8.56%	9.37%

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:

Schroder Real Return Fund - I Class
Australia Other

50.11%
AMP Multi-Asset Fund
Australia Other

49.94%
Cooperatieve Rabobank Ua (Wgtn) - Maturing 23 Nov 22
New Zealand NZ Fixed Interest A

0.04%
Dunedin City Treasury Ltd - Maturing 15 Oct 22
New Zealand NZ Fixed Interest AA

0.04%
Westpac New Zealand Ltd - Maturing 19 Dec 22
New Zealand NZ Fixed Interest A

0.03%
Westpac New Zealand Ltd - Maturing 18 Nov 22
New Zealand NZ Fixed Interest A

0.03%
ANZ Bank New Zealand Ltd - Maturing 30 May 23
New Zealand NZ Fixed Interest A+

0.03%
Southland Building Society - Note Maturing 11 Nov 22
New Zealand NZ Fixed Interest BBB+

0.03%
Westpac New Zealand Ltd - Maturing 30 Dec 22
New Zealand NZ Fixed Interest A

0.03%
Westpac New Zealand Ltd - Maturing 16 Jan 23
New Zealand NZ Fixed Interest A

0.02%

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	5.0%	33.48%
New Zealand Fixed Interest	0.0%	0.0%
International Fixed Interest	0.0%	19.68%
Australasian Equities	0.0%	8.12%
International Equities	0.0%	17.19%
Listed Properties	0.0%	2.74%
Unlisted Properties	0.0%	0.0%
Other	95.0%	18.79%
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:

0.01%
Alcohol:

0.18%
Animal Testing:

0.74%
Fossil Fuels:

3.88%
Gambling:

0.16%
GMOs:

0.03%
Human Rights & Environmental Violations:

1.66%
Palm Oil:

0.01%
Tobacco:

0.01%
Weapons:

0.07%

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 fund that aims to generate a positive return above inflation and to actively respond to changing market conditions with a flexible approach to investing."

Value	$37M NZD
Period of data report	Fri Sept. 30th 2022
Fund started	Wed Dec. 11th 2013
Total annual fund fees	1.42%
Total performance based fees	0.0%
Manager's basic fee	1.15%
Other management and administration charges	0.27%
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)