Funds

BNZ YouWealth Conservative Fund

Total Ethical Concerns: 5.35%

The average total concerns of all managed conservative funds is 3.17%.

Companies of Concern

  • Animal Cruelty 0.29%

    • 0.06%
    • Lyondellbasell Industries Nv
      0.04%
      0.04%
    • Air Liquide
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Basf Se
      0.01%
      0.01%
    • Colgate-Palmolive Co.
      0.01%
      0.01%
    • Corteva, Inc.
      0.01%
      0.01%
    • Dupont De Nemours
      0.01%
      0.01%
    • Ecolab, Inc.
      0.01%
      0.01%
    • Givaudan SA
      0.01%
      0.01%
    • Hermès International Sca
      0.01%
      0.01%
    • Kimberly-Clark Corp.
      0.01%
      0.01%
    • Koninklijke Ahold Delhaize Nv
      0.01%
      0.01%
    • L'Oréal SA
      0.01%
      0.01%
    • Shin-Etsu Chemical Co., Ltd.
      0.01%
      0.01%
    • The Sherwin-Williams Co.
      0.01%
      0.01%
  • Human Rights Violations 1.06%

    • Nestlé
      0.35%
      0.35%
    • 0.19%
    • General Motors
      0.10%
      0.10%
    • Rio Tinto
      0.09%
      0.09%
    • Ubs
      0.09%
      0.09%
    • 0.06%
    • 0.03%
    • Wells Fargo
      0.03%
      0.03%
    • Glencore
      0.01%
      0.01%
    • Holcim
      0.01%
      0.01%
  • Social Harm 0.52%

  • Fossil Fuels 2.88%

    • Contact Energy Ltd.
      0.48%
      1.5°C
      This company is on a 1.5°C pathway
      0.48%
    • Vier Gas Transport Gmbh
      0.34%
      0.34%
    • E.On Se
      0.28%
      0.28%
    • Nisource, Inc.
      0.27%
      0.27%
    • Sgsp (Australia) Assets Pty Ltd (Jemena)
      0.21%
      0.21%
    • Apa Infrastructure Ltd.
      0.16%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.16%
    • Électricité De France SA
      0.16%
      0.16%
    • Galaxy Pipeline Assets Bidco Ltd.
      0.15%
      0.15%
    • Kinder Morgan, Inc.
      0.11%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.11%
    • National Grid PLC
      0.10%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.10%
    • Rio Tinto
      0.09%
      0.09%
    • The Williams Cos., Inc.
      0.07%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.07%
    • Channel Infrastructure
      0.05%
      0.05%
    • Berkshire Hathaway Energy Co.
      0.04%
      0.04%
    • Enbridge, Inc.
      0.04%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.04%
    • Lyondellbasell Industries Nv
      0.04%
      0.04%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Nextera Energy, Inc.
      0.02%
      0.02%
    • American Electric Power Co., Inc.
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Cheniere Energy, Inc.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Consolidated Edison, Inc.
      0.01%
      0.01%
    • Constellation Energy Corp.
      0.01%
      0.01%
    • Dominion Energy, Inc.
      0.01%
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%
    • Enel
      0.01%
      1.5°C
      This company is on a 1.5°C pathway
      0.01%
    • Entergy Corp.
      0.01%
      0.01%
    • Glencore
      0.01%
      0.01%
    • Itochu Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Marathon Petroleum Corp.
      0.01%
      0.01%
    • Mitsubishi Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Oneok, Inc.
      0.01%
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Phillips 66
      0.01%
      0.01%
    • Sempra Energy
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Targa Resources Corp.
      0.01%
      0.01%
    • Tc Energy Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • The Southern Co.
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%
    • Valero Energy Corp.
      0.01%
      0.01%
    • Vistra Energy
      0.01%
      0.01%
    • Wec Energy Group, Inc.
      0.01%
      0.01%
    • Xcel Energy, Inc.
      0.01%
      0.01%
  • Weapons 0.1%

    • 0.06%
    • Amphenol Corp.
      0.01%
      0.01%
    • Howmet Aerospace, Inc.
      0.01%
      0.01%
    • Rheinmetall AG
      0.01%
      0.01%
    • Transdigm Group, Inc.
      0.01%
      0.01%
  • Environmental Harm 0.77%

    • Fonterra
      0.33%
      0.33%
    • Pepsico
      0.24%
      0.24%
    • Coca-Cola
      0.04%
      0.04%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Basf Se
      0.01%
      0.01%
    • Corteva, Inc.
      0.01%
      0.01%
    • Danone
      0.01%
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%
    • 0.01%
    • Glencore
      0.01%
      0.01%
    • Mitsubishi Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Mondelez
      0.01%
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%

From the Fund Provider

  • About this fund

    About this Fund

    The Conservative Fund invests mostly in income assets, which generally have lower levels of risk with the potential for lower returns. It also has a modest allocation to growth assets, which generally have higher levels of risk and potential returns. It aims to achieve relatively stable returns over the short to medium term.

    Value $29.7M NZD
    Period of data report 31st March 2025
    Fund started 21st May 2018
    Total annual fund fees 0.45%
    Total performance based fees 0.0%
    Manager's basic fee 0.45%
    Other management and administration charges 0.0%
    Total other charges 0.0
    Total other charges currency NZD

    Andrew Bascand

    Currently: Chair, Investment Committee (0 years, 1 months)
    Previously: ​Managing Director, Harbour Asset Management Ltd (other position) (15 years, 3 months)

    Richard Ansell

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Independent Director, BNZ Investment Services Ltd (other position) (6 years, 1 months)

    Louis Nel

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Head of External Managers & Partnerships, Harbour Asset Management Limited (other position) (0 years, 8 months)

    Chris Di Leva

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Head of Multi-Asset & Global Investments, Harbour Asset Management Ltd (other position) (6 years, 6 months)

    Murray Brown

    Currently: Member, Investment Committee (0 years, 1 months)
    Previously: Independent Director, Harbour Asset Management Ltd (other position) (5 years, 1 months)

    This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.

  • Past Returns

    Past Returns

    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
    2025 3.79% 4.23%
    2024 5.86% 6.03%
    2023 -1.56% -1.6%
    2022 -0.50% -1.68%
    2021 8.70% 6.58%
    2020 -0.05% 1.98%

    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 2025.

  • Investments

    Top 10 Investments

    • Housing New Zealand Ltd 3.36% 12/06/2025

      New Zealand NZ Fixed Interest AAA

      1.91%
    • Westpac Whs Notice Deposit 45 Day

      New Zealand Cash and Equivalents AA-

      1.84%
    • ASB Bank Ltd Registered Certificate Of Deposit 05/09/2025

      New Zealand Cash and Equivalents AA-

      1.35%
    • New Zealand 4.5% 15/05/2035

      New Zealand NZ Fixed Interest AAA

      1.23%
    • ASB Bank Ltd Registered Certificate Of Deposit 17/10/2025

      New Zealand Cash and Equivalents AA-

      1.18%
    • ANZ Bank New Zealand Ltd Registered Certificate Of Deposit 15/01/2026

      New Zealand Cash and Equivalents AA-

      1.17%
    • New Zealand Local Government Funding Agency 2.75% 15/04/2025

      New Zealand NZ Fixed Interest AAA

      1.11%
    • Fisher & Paykel Healthcare Ltd

      New Zealand Australasian Equities

      1.08%
    • NZ Government Bond 2.75% 15/04/2037

      New Zealand NZ Fixed Interest AAA

      1.06%
    • NZ Government Bond 4.5% 15/04/2027

      New Zealand NZ Fixed Interest AAA

      1.04%
    Type Target Actual
    Cash and Cash Equivalents 25.0% 25.08%
    New Zealand Fixed Interest 14.0% 15.05%
    International Fixed Interest 41.0% 42.04%
    Australasian Equities 7.0% 7.07%
    International Equities 13.0% 10.76%
    Listed Properties 0.0% 0.0%
    Unlisted Properties 0.0% 0.0%
    Other 0.0% 0.0%
    Commodities 0.0% 0.0%

    Investment Mix

    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 2025.

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 2025 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.

Issues of Concern

  • 0.29% Animal Cruelty
  • 1.06% Human Rights Violations
  • 0.52% Social Harm
  • 2.88% Fossil Fuels
  • 0.1% Weapons
  • 0.77% Environmental Harm

Companies of Concern

  • Animal Cruelty

    • 0.06%
    • Lyondellbasell Industries Nv
      0.04%
      0.04%
    • Air Liquide
      0.02%
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Basf Se
      0.01%
      0.01%
    • Colgate-Palmolive Co.
      0.01%
      0.01%
    • Corteva, Inc.
      0.01%
      0.01%
    • Dupont De Nemours
      0.01%
      0.01%
    • Ecolab, Inc.
      0.01%
      0.01%
    • Givaudan SA
      0.01%
      0.01%
    • Hermès International Sca
      0.01%
      0.01%
    • Kimberly-Clark Corp.
      0.01%
      0.01%
    • Koninklijke Ahold Delhaize Nv
      0.01%
      0.01%
    • L'Oréal SA
      0.01%
      0.01%
    • Shin-Etsu Chemical Co., Ltd.
      0.01%
      0.01%
    • The Sherwin-Williams Co.
      0.01%
      0.01%
  • Human Rights Violations

    • Nestlé
      0.35%
      0.35%
    • 0.19%
    • General Motors
      0.10%
      0.10%
    • Rio Tinto
      0.09%
      0.09%
    • Ubs
      0.09%
      0.09%
    • 0.06%
    • 0.03%
    • Wells Fargo
      0.03%
      0.03%
    • Glencore
      0.01%
      0.01%
    • Holcim
      0.01%
      0.01%
  • Fossil Fuels

    • Contact Energy Ltd.
      0.48%
      1.5°C
      This company is on a 1.5°C pathway
      0.48%
    • Vier Gas Transport Gmbh
      0.34%
      0.34%
    • E.On Se
      0.28%
      0.28%
    • Nisource, Inc.
      0.27%
      0.27%
    • Sgsp (Australia) Assets Pty Ltd (Jemena)
      0.21%
      0.21%
    • Apa Infrastructure Ltd.
      0.16%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.16%
    • Électricité De France SA
      0.16%
      0.16%
    • Galaxy Pipeline Assets Bidco Ltd.
      0.15%
      0.15%
    • Kinder Morgan, Inc.
      0.11%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.11%
    • National Grid PLC
      0.10%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.10%
    • Rio Tinto
      0.09%
      0.09%
    • The Williams Cos., Inc.
      0.07%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.07%
    • Channel Infrastructure
      0.05%
      0.05%
    • Berkshire Hathaway Energy Co.
      0.04%
      0.04%
    • Enbridge, Inc.
      0.04%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.04%
    • Lyondellbasell Industries Nv
      0.04%
      0.04%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Nextera Energy, Inc.
      0.02%
      0.02%
    • American Electric Power Co., Inc.
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Cheniere Energy, Inc.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Consolidated Edison, Inc.
      0.01%
      0.01%
    • Constellation Energy Corp.
      0.01%
      0.01%
    • Dominion Energy, Inc.
      0.01%
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%
    • Enel
      0.01%
      1.5°C
      This company is on a 1.5°C pathway
      0.01%
    • Entergy Corp.
      0.01%
      0.01%
    • Glencore
      0.01%
      0.01%
    • Itochu Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Marathon Petroleum Corp.
      0.01%
      0.01%
    • Mitsubishi Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Oneok, Inc.
      0.01%
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Phillips 66
      0.01%
      0.01%
    • Sempra Energy
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Targa Resources Corp.
      0.01%
      0.01%
    • Tc Energy Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • The Southern Co.
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%
    • Valero Energy Corp.
      0.01%
      0.01%
    • Vistra Energy
      0.01%
      0.01%
    • Wec Energy Group, Inc.
      0.01%
      0.01%
    • Xcel Energy, Inc.
      0.01%
      0.01%
  • Weapons

    • 0.06%
    • Amphenol Corp.
      0.01%
      0.01%
    • Howmet Aerospace, Inc.
      0.01%
      0.01%
    • Rheinmetall AG
      0.01%
      0.01%
    • Transdigm Group, Inc.
      0.01%
      0.01%
  • Environmental Harm

    • Fonterra
      0.33%
      0.33%
    • Pepsico
      0.24%
      0.24%
    • Coca-Cola
      0.04%
      0.04%
    • BHP
      0.02%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.02%
    • Unilever PLC
      0.02%
      0.02%
    • 3M
      0.01%
      0.01%
    • Barrick Gold
      0.01%
      0.01%
    • Basf Se
      0.01%
      0.01%
    • Corteva, Inc.
      0.01%
      0.01%
    • Danone
      0.01%
      0.01%
    • Duke Energy Corp
      0.01%
      0.01%
    • 0.01%
    • Glencore
      0.01%
      0.01%
    • Mitsubishi Corp.
      0.01%
      !!
      This company is expanding their fossil fuel production and
      is off track with the UN target to limit global temperature
      rise to 1.5°C
      0.01%
    • Mondelez
      0.01%
      0.01%
    • Pg&E Corp
      0.01%
      0.01%
    • Vale SA
      0.01%
      0.01%

About this Fund

The Conservative Fund invests mostly in income assets, which generally have lower levels of risk with the potential for lower returns. It also has a modest allocation to growth assets, which generally have higher levels of risk and potential returns. It aims to achieve relatively stable returns over the short to medium term.

Value $29.7M NZD
Period of data report 31st March 2025
Fund started 21st May 2018
Total annual fund fees 0.45%
Total performance based fees 0.0%
Manager's basic fee 0.45%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Andrew Bascand

Currently: Chair, Investment Committee (0 years, 1 months)
Previously: ​Managing Director, Harbour Asset Management Ltd (other position) (15 years, 3 months)

Richard Ansell

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Independent Director, BNZ Investment Services Ltd (other position) (6 years, 1 months)

Louis Nel

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Head of External Managers & Partnerships, Harbour Asset Management Limited (other position) (0 years, 8 months)

Chris Di Leva

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Head of Multi-Asset & Global Investments, Harbour Asset Management Ltd (other position) (6 years, 6 months)

Murray Brown

Currently: Member, Investment Committee (0 years, 1 months)
Previously: Independent Director, Harbour Asset Management Ltd (other position) (5 years, 1 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st March 2025.

Past Returns

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
2025 3.79% 4.23%
2024 5.86% 6.03%
2023 -1.56% -1.6%
2022 -0.50% -1.68%
2021 8.70% 6.58%
2020 -0.05% 1.98%

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 2025.

Top 10 Investments

  • Housing New Zealand Ltd 3.36% 12/06/2025

    New Zealand NZ Fixed Interest AAA

    1.91%
  • Westpac Whs Notice Deposit 45 Day

    New Zealand Cash and Equivalents AA-

    1.84%
  • ASB Bank Ltd Registered Certificate Of Deposit 05/09/2025

    New Zealand Cash and Equivalents AA-

    1.35%
  • New Zealand 4.5% 15/05/2035

    New Zealand NZ Fixed Interest AAA

    1.23%
  • ASB Bank Ltd Registered Certificate Of Deposit 17/10/2025

    New Zealand Cash and Equivalents AA-

    1.18%
  • ANZ Bank New Zealand Ltd Registered Certificate Of Deposit 15/01/2026

    New Zealand Cash and Equivalents AA-

    1.17%
  • New Zealand Local Government Funding Agency 2.75% 15/04/2025

    New Zealand NZ Fixed Interest AAA

    1.11%
  • Fisher & Paykel Healthcare Ltd

    New Zealand Australasian Equities

    1.08%
  • NZ Government Bond 2.75% 15/04/2037

    New Zealand NZ Fixed Interest AAA

    1.06%
  • NZ Government Bond 4.5% 15/04/2027

    New Zealand NZ Fixed Interest AAA

    1.04%
Type Target Actual
Cash and Cash Equivalents 25.0% 25.08%
New Zealand Fixed Interest 14.0% 15.05%
International Fixed Interest 41.0% 42.04%
Australasian Equities 7.0% 7.07%
International Equities 13.0% 10.76%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

Investment Mix

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 2025.