BNZ Youwealth Moderate Fund

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Fund type: Balanced fund

Past Returns: 4.12%

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

Annual Fees: 0.6%

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

Contact Energy Ltd 0.74%
Vier Gas Transport Gmbh 4.625% 26/09/2032 0.21%
Galaxy Pipeline Assets Bidco Ltd Medium Term Note 2.625% 31/03/2036 0.18%
Genesis Energy Ltd 0.12%
The Williams Companies Inc 2.6% 15/03/2031 0.12%
Enterprise Products Operating Llc 4.45% 15/02/2043 0.11%
N.V. Nederlandse Gasunie 3.375% 11/07/2034 0.11%
Nextera Energy Inc 0.08%
Vier Gas Transport Gmbh 4% 26/09/2027 0.07%
Williams Companies Inc 4.85% 01/03/2048 0.06%
Anglo American Capital PLC 4.75% 21/09/2032 0.05%
Enbridge Inc 0.04%
Ppl Electric Utilities Corp 4.15% 15/06/2048 0.04%
Dominion Energy Inc 0.03%
Iberdrola SA 0.03%
Marathon Petroleum Corp 0.03%
Sempra Energy 0.03%
Cheniere Energy Ord Shs 0.02%
Consolidated Edison Inc 0.02%
Enel Spa 0.02%
Itochu Corp 0.02%
Kinder Morgan Inc/De 0.02%
National Grid PLC 0.02%
Phillips 66 0.02%
Public Service Enterprise Group Ord Shs 0.02%
Tc Energy Corp 0.02%
Valero Energy Corp 0.02%
Apa Group 0.01%
Astra International Ord Shs 0.01%
Atmos Energy Ord Shs 0.01%
Ck Asset Holdings Ltd 0.01%
Ck Hutchison Holdings Ltd 0.01%
Consolidated Edison Company Of New York Inc 3.95% 01/04/2050 0.01%
Constellation Energy Corp 0.01%
Engie SA 0.01%
Neste Ord Shs 0.01%
Pembina Pipeline Ord Shs 0.01%
Rwe AG 0.01%
Snam Ord Shs 0.01%
Vier Gas Transport Gmbh 0.125% 10/09/2029 0.01%

Weapons

Wal-Mart Stores Inc 0.10%
Brookfield Asset Management Inc 0.03%
Amphenol Corp-Cl A 0.02%
L3Harris Technologies Inc 0.02%
Heico Corp - A 0.01%
Howmet Aerospace Inc 0.01%
Mtu Aero Engines AG 0.01%
Teledyne Technologies Inc 0.01%
Transdigm Group Inc 0.01%
Wal Mart De Mexico Sab De Cv 0.01%

Alcohol

Anheuser-Busch Inbev Worldwide Inc 5.45% 23/01/2039 0.14%
Anheuser-Busch Inbev Finance Inc 4.7% 01/02/2036 0.11%
Bacardi Ltd 5.3% 15/05/2048 0.09%
Bacardi Ltd 4.45% 15/05/2025 0.08%
Diageo Capital B.V. 1.875% 08/06/2034 0.06%
Diageo PLC 0.05%
Anheuser-Busch Inbev Nv 0.02%
Constellation Brands Inc-A 0.02%
Pernod Ricard SA 0.02%
Ambev SA 0.01%
Asahi Group Holdings Ltd 0.01%
Australian Vintage Ltd 0.01%
Brown-Forman Corp-Class B 0.01%
China Resources Beer Holdings Ord Shs 0.01%
Delegat Group Ltd 0.01%
Heineken Nv 0.01%
Kirin Holdings Co Ltd 0.01%
Kweichow Moutai Co Ltd-A 0.01%

Palm Oil

Astra International Ord Shs 0.01%

GMOs

Corteva Inc 0.02%

Human Rights & Environmental Violations

Johnson & Johnson 0.23%
Credit Suisse Group AG 3.091% 14/05/2032 0.17%
Meta Platforms Inc 0.16%
Nestle SA-Reg 0.16%
Thermo Fisher Scientific Inc 0.11%
Basf Se 3.75% 29/06/2032 0.09%
Wells Fargo & Co 0.08%
Credit Suisse AG London 0.25% 01/09/2028 0.06%
Caterpillar Inc 0.05%
Credit Suisse Group AG 4.194% 01/04/2031 0.05%
Thermo Fisher Scientific (Finance I) B.V. 1.625% 18/10/2041 0.04%
Activision Blizzard Inc 0.03%
Bayer AG-Reg 0.03%
Nutrien Ord Shs 0.03%
Rio Tinto PLC 0.03%
Archer-Daniels-Midland Co 0.02%
Barrick Gold Corp 0.02%
Basf Se 0.02%
Corteva Inc 0.02%
Freeport - Mcmoran Copper 0.02%
Thermo Fisher Scientific Inc 1.875% 01/10/2049 0.02%
Astra International Ord Shs 0.01%
Bank Hapoalim Bm 0.01%
Bank Leumi Le Israel Ord Shs 0.01%
Centrais Eletricas Brasileiras SA 0.01%
Credit Suisse Group Ord Shs 0.01%
Fmc Corp 0.01%
Li Ning Ord Shs 0.01%
Posco 0.01%
Rio Tinto Ltd 0.01%

Animal Testing

Nestle SA-Reg 0.16%
Procter and Gamble Co/The 0.16%
Coca-Cola Co/The 0.12%
Pepsico Inc 0.12%
Basf Se 3.75% 29/06/2032 0.09%
Kraft Heinz Foods Company 4.125% 01/07/2027 0.09%
Tesco Property Finance 3 PLC 5.744% 13/04/2040 0.09%
LVMH Moet Hennessy Louis Vui 0.08%
Rentokil Initial Finance B.V. 4.375% 27/06/2030 0.07%
Tesco Property Finance 2 PLC 6.0517% 13/10/2039 0.07%
Danone SA 1% Perpetual 0.06%
Unilever PLC 0.06%
Kraft Heinz Foods Company 4.875% 01/10/2049 0.04%
L'Oreal SA 0.04%
Mondelez International Inc-A 0.04%
3M Co 0.03%
Air Liquide SA 0.03%
Bayer AG-Reg 0.03%
Colgate-Palmolive Co 0.03%
Estee Lauder Cos Inc/The 0.03%
Kraft Heinz Foods Co 4.375% 01/06/2046 0.03%
Nutrien Ord Shs 0.03%
Sherwin-Williams Co/The 0.03%
Albemarle Corp 0.02%
Archer-Daniels-Midland Co 0.02%
Basf Se 0.02%
Constellation Brands Inc-A 0.02%
Corteva Inc 0.02%
Daikin Industries Ltd 0.02%
Danone 0.02%
Dow Inc 0.02%
Ecolab Inc 0.02%
General Mills Inc 0.02%
Hermes International 0.02%
Kering 0.02%
Keurig Dr Pepper Ord Shs 0.02%
Kimberly-Clark Corp 0.02%
Tesco Property Finance 1 PLC 7.6227% 13/07/2039 0.02%
Akzo Nobel Nv 0.01%
Asahi Group Holdings Ltd 0.01%
Avantor Inc 0.01%
Burberry Group PLC 0.01%
Canon Inc 0.01%
Clorox Company 0.01%
Croda International PLC 0.01%
Denso Corp 0.01%
Du Pont De Nemours 0.01%
Fmc Corp 0.01%
Fujifilm Holdings Ord Shs 0.01%
Kao Corporation 0.01%
Kellogg Co 0.01%
Koninkilijke Dsm Ord Shs 0.01%
Koninklijke Ahold Delhaize Nv 0.01%
Kraft Heinz Co/The 0.01%
Mosaic Co/The 0.01%
Nippon Paint Holdings Ord Shs 0.01%
Otsuka Holdings Co Ltd 0.01%
PPG Industries Inc 0.01%
Ping An Insurance Group 0.01%
Ping An Insurance Group - A 0.01%
Rentokil Initial Ord Shs 0.01%
Shiseido Co Ltd 0.01%
Tyson Foods Inc 0.01%
Unicharm Corporation 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% -0.7%
2021 17.46% 11.64%
2020 -1.59% 1.42%

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:

  • Apple Inc
    United States International Equities
    1.12%
  • Fisher & Paykel Healthcare Ltd
    New Zealand Australasian Equities
    1.11%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities
    0.96%
  • Microsoft Corporation
    United States International Equities
    0.93%
  • Auckland International Airport Ltd
    New Zealand Australasian Equities
    0.91%
  • Contact Energy Ltd
    New Zealand Australasian Equities
    0.74%
  • Infratil Ltd
    New Zealand Australasian Equities
    0.73%
  • NZ Government Bond 1.75% 15/05/2041
    New Zealand NZ Fixed Interest AAA
    0.72%
  • Meridian Energy Ltd
    New Zealand Australasian Equities
    0.71%
  • Ebos Group Ltd
    New Zealand Australasian Equities
    0.67%

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 15.0% 17.58%
New Zealand Fixed Interest 11.0% 12.23%
International Fixed Interest 34.0% 33.19%
Australasian Equities 13.0% 11.87%
International Equities 27.0% 25.13%
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:
    0.68%
  • Animal Testing:
    2.09%
  • Fossil Fuels:
    2.38%
  • Gambling:
    0.00%
  • GMOs:
    0.02%
  • Human Rights & Environmental Violations:
    1.53%
  • Palm Oil:
    0.01%
  • Tobacco:
    0.00%
  • Weapons:
    0.23%

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 Moderate Fund invests largely in income assets, which generally have lower levels of risk with the potential for lower returns. It also has a sizeable allocation to growth assets, which generally have higher levels of risk and potential returns. It aims to achieve moderate returns over the medium term."

Value $200M NZD
Period of data report Fri Sept. 30th 2022
Fund started Mon May 21st 2018
Total annual fund fees 0.6%
Total performance based fees 0.0%
Manager's basic fee 0.6%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Peter Forster

Currently: Chair, BNZ Investment Review Committee (2 years, 9 months)
Previously: General Manager Wealth, BNZ (current position) (4 years, 1 months)

Richard Ansell

Currently: Member, BNZ Investment Review Committee (2 years, 9 months)
Previously: Director, BNZ Investment Services Limited (current position) (3 years, 7 months)

Jason Wong

Currently: Member, BNZ Investment Review Committee (1 years, 9 months)
Previously: Senior Markets Strategist, BNZ (current position) (6 years, 9 months)

Hayden Griffiths

Currently: Member, BNZ Investment Review Committee (1 years, 9 months)
Previously: Executive Director and Head of Asset Allocation, JBWere (current position) (13 years, 3 months)

Louis Nel

Currently: Member, BNZ Investment Review Committee (0 years, 6 months)
Previously: Head of Investment Solutions Wealth, BNZ (current position) (11 years, 8 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.

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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.