Milford Australian Absolute Growth Fund

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Not Mindful
Type: Balanced fund
Past Returns: *0.80%

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

Annual Fees: 1.67%

Annual fees, including any membership and % management 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

Agl Energy Ltd 5% 11/05/2021 0.07%
Apa Group 1.24%

Gambling

Aristocrat Leisure Ltd 0.07%
Crown Resorts Ltd Frn 04/23/2075 0.01%

Alcohol

Metcash Limited 1.31%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Tue March 31st 2020 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 and research organisations.

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
2020 -2.86% -1.32%
2019 4.44% 2.91%

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 Tue June 30th 2020.

Showing the top 10 investments for this fund:

  • AUD Cash Current Account (Nab Bank)
    Australia Cash and Equivalents AA-
    14.51%
  • NZD Cash Current Account (Nab Bank)
    New Zealand Cash and Equivalents AA-
    7.53%
  • Woolworths Ltd
    Australia Australasian Equities
    7.34%
  • Newmont Mining Corp
    United States International Equities
    5.97%
  • NZD Cash Call Account (Westpac)
    New Zealand Cash and Equivalents AA-
    4.86%
  • Telstra Corp Ltd
    Australia Australasian Equities
    3.26%
  • Newcrest Mining Ltd
    Australia Australasian Equities
    3.2%
  • CSL Ltd
    Australia Australasian Equities
    2.89%
  • Insurance Australia Group Ltd
    Australia Australasian Equities
    2.56%
  • Evolution Mining Ltd
    Australia Australasian Equities
    2.54%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Tue June 30th 2020.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 7.5% 40.01%
New Zealand Fixed Interest 4.0% 0.83%
International Fixed Interest 6.0% 0.82%
Australasian Equities 80.0% 43.7%
International Equities 2.5% 7.32%
Listed Properties 0.0% 7.1%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.22%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Does this fund have a policy to exclude any industries from its investments? The first column shows if the fund has a policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

The Fund may have investments that are not consistent with their exclusions policy because they are still in the process of implementing their policy.

  • Issue of concern
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    1.31%
  • Animal Testing:
    0.00%
  • Fossil Fuels:
    1.31%
  • Gambling:
    0.08%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.00%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.00%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Tue March 31st 2020 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 and research organisations.

Note that the fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the fund.

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.

In their own words

"The Fund targets an absolute return with an annualised return objective of 5% above the New Zealand Official Cash Rate while seeking to protect capital after the base fund fee but before tax and before the performance fee over rolling three year periods.It is a diversified fund that primarily invests in Australasian equities complemented by selective exposure to international equities and cash."

Value $210M NZD
Period of data report Tue June 30th 2020
Members 793
Fund started Thu March 1st 2018
Total annual fund fees 1.67%
Total performance based fees 0.62%
Manager's basic fee 1.03%
Administration charges 0.02%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Wayne Gentle

Currently: Portfolio Manager (3 years, 11 months)
Previously: Deputy Head of Australian Equities at Colonial First State Global Asset Management Australia (8 years, 6 months)

William Curtayne

Currently: Portfolio Manager (6 years, 9 months)
Previously: Senior Analyst at Milford Asset Management New Zealand (2 years, 8 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Tue June 30th 2020.

Downloads

Download the fund's disclosure statement and portfolio holdings.

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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.