BNZ Youwealth Growth Fund

Not Mindful

Fund type: Growth fund

Past Returns: 8.45%

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

Annual Fees: 0.57%

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 1.63%
Genesis Energy Ltd 0.26%
Nextera Energy Inc 0.16%
Vier Gas Transport Gmbh 4.625% 26/09/2032 0.10%
Galaxy Pipeline Assets Bidco Ltd Medium Term Note 2.625% 31/03/2036 0.09%
Enbridge Inc 0.08%
Dominion Energy Inc 0.06%
Iberdrola SA 0.06%
The Williams Companies Inc 2.6% 15/03/2031 0.06%
Enterprise Products Operating Llc 4.45% 15/02/2043 0.05%
Marathon Petroleum Corp 0.05%
N.V. Nederlandse Gasunie 3.375% 11/07/2034 0.05%
Sempra Energy 0.05%
Valero Energy Corp 0.05%
Cheniere Energy Ord Shs 0.04%
Itochu Corp 0.04%
Kinder Morgan Inc/De 0.04%
National Grid PLC 0.04%
Phillips 66 0.04%
Tc Energy Corp 0.04%
Vier Gas Transport Gmbh 4% 26/09/2027 0.04%
Consolidated Edison Inc 0.03%
Constellation Energy Corp 0.03%
Enel Spa 0.03%
Public Service Enterprise Group Ord Shs 0.03%
Rwe AG 0.03%
Williams Companies Inc 4.85% 01/03/2048 0.03%
Anglo American Capital PLC 4.75% 21/09/2032 0.02%
Atmos Energy Ord Shs 0.02%
Ck Hutchison Holdings Ltd 0.02%
Engie SA 0.02%
Neste Ord Shs 0.02%
Pembina Pipeline Ord Shs 0.02%
Ppl Electric Utilities Corp 4.15% 15/06/2048 0.02%
Apa Group 0.01%
Astra International Ord Shs 0.01%
Citic Securities Co Ltd 0.01%
Ck Asset Holdings Ltd 0.01%
Consolidated Edison Company Of New York Inc 3.95% 01/04/2050 0.01%
Cosan Industria E Comercio Ord Shs 0.01%
Enel Americas Ord Shs 0.01%
Engie Brasil Energia Ord Shs 0.01%
Fortum Ord Shs 0.01%
Hong Kong & China Gas Co Ltd 0.01%
Jardine Matherson Holdings Ltd 0.01%
Kansai Electric Power Ord Shs 0.01%
Loews Corp 0.01%
Mitsui O.S.K. Lines Ltd 0.01%
Nippon Yusen Ord Shs 0.01%
Power Assets Holdings Ord Shs 0.01%
Qingdao Port International Co Ltd Registered Certificate Of Deposit 0.01%
Saudi Electricity Ord Shs 0.01%
Sk Innovation Ord Shs 0.01%
Snam Ord Shs 0.01%

Weapons

Wal-Mart Stores Inc 0.20%
Brookfield Asset Management Inc 0.06%
L3Harris Technologies Inc 0.05%
Amphenol Corp-Cl A 0.04%
Transdigm Group Inc 0.03%
Howmet Aerospace Inc 0.02%
Teledyne Technologies Inc 0.02%
Wal Mart De Mexico Sab De Cv 0.02%
Canadian Tire Corp Ltd 0.01%
Heico Corp - A 0.01%
Korea Aerospace Industries Ord Shs 0.01%
Mtu Aero Engines AG 0.01%
Rolls-Royce Holdings PLC 0.01%

Alcohol

Diageo PLC 0.10%
Anheuser-Busch Inbev Worldwide Inc 5.45% 23/01/2039 0.07%
Anheuser-Busch Inbev Finance Inc 4.7% 01/02/2036 0.05%
Bacardi Ltd 5.3% 15/05/2048 0.05%
Anheuser-Busch Inbev Nv 0.04%
Bacardi Ltd 4.45% 15/05/2025 0.04%
Constellation Brands Inc-A 0.04%
Pernod Ricard SA 0.04%
Delegat Group Ltd 0.03%
Diageo Capital B.V. 1.875% 08/06/2034 0.03%
Kweichow Moutai Co Ltd-A 0.03%
Asahi Group Holdings Ltd 0.02%
Australian Vintage Ltd 0.02%
Heineken Nv 0.02%
Ambev SA 0.01%
Brown-Forman Corp-Class B 0.01%
Budweiser Brewing Company Apac Ltd 0.01%
China Resources Beer Holdings Ord Shs 0.01%
Heineken Holdings Nv 0.01%
Kirin Holdings Co Ltd 0.01%
Luzhou Laojiao Co Ltd 0.01%
Royal Unibrew A/S Registered Certificate Of Deposit 0.01%
Tsingtao Brewery Co Ltd-A 0.01%
Wuliangye Yibin Co Ltd 0.01%

Palm Oil

Astra International Ord Shs 0.01%

GMOs

Corteva Inc 0.04%

Human Rights & Environmental Violations

Johnson & Johnson 0.46%
Meta Platforms Inc 0.33%
Nestle SA-Reg 0.31%
Thermo Fisher Scientific Inc 0.21%
Wells Fargo & Co 0.16%
Caterpillar Inc 0.09%
Credit Suisse Group AG 3.091% 14/05/2032 0.08%
Activision Blizzard Inc 0.06%
Rio Tinto PLC 0.06%
Archer-Daniels-Midland Co 0.05%
Bayer AG-Reg 0.05%
Nutrien Ord Shs 0.05%
Basf Se 0.04%
Basf Se 3.75% 29/06/2032 0.04%
Corteva Inc 0.04%
Freeport - Mcmoran Copper 0.04%
Barrick Gold Corp 0.03%
Credit Suisse AG London 0.25% 01/09/2028 0.03%
Rio Tinto Ltd 0.03%
Centrais Eletricas Brasileiras SA 0.02%
Credit Suisse Group AG 4.194% 01/04/2031 0.02%
Li Ning Ord Shs 0.02%
Thermo Fisher Scientific (Finance I) B.V. 1.625% 18/10/2041 0.02%
Astra International Ord Shs 0.01%
Bank Hapoalim Bm 0.01%
Bank Leumi Le Israel Ord Shs 0.01%
Credit Suisse Group Ord Shs 0.01%
Evergreen Marine Corp (Taiwan) Ord Shs 0.01%
Fmc Corp 0.01%
Formosa Chemicals & Fibre Ord Shs 0.01%
Nissan Chemical Ord Shs 0.01%
Posco 0.01%
Teva Pharmaceutical Industries Ord Shs 0.01%
Thermo Fisher Scientific Inc 1.875% 01/10/2049 0.01%

Animal Testing

Procter and Gamble Co/The 0.32%
Nestle SA-Reg 0.31%
Pepsico Inc 0.24%
Coca-Cola Co/The 0.23%
LVMH Moet Hennessy Louis Vui 0.16%
Unilever PLC 0.12%
L'Oreal SA 0.08%
Mondelez International Inc-A 0.08%
3M Co 0.07%
Air Liquide SA 0.06%
Colgate-Palmolive Co 0.06%
Archer-Daniels-Midland Co 0.05%
Bayer AG-Reg 0.05%
Estee Lauder Cos Inc/The 0.05%
General Mills Inc 0.05%
Nutrien Ord Shs 0.05%
Sherwin-Williams Co/The 0.05%
Basf Se 0.04%
Basf Se 3.75% 29/06/2032 0.04%
Constellation Brands Inc-A 0.04%
Corteva Inc 0.04%
Daikin Industries Ltd 0.04%
Dow Inc 0.04%
Ecolab Inc 0.04%
Hermes International 0.04%
Kering 0.04%
Kimberly-Clark Corp 0.04%
Kraft Heinz Foods Company 4.125% 01/07/2027 0.04%
Tesco Property Finance 3 PLC 5.744% 13/04/2040 0.04%
Albemarle Corp 0.03%
Canon Inc 0.03%
Danone 0.03%
Danone SA 1% Perpetual 0.03%
Du Pont De Nemours 0.03%
Keurig Dr Pepper Ord Shs 0.03%
Koninklijke Ahold Delhaize Nv 0.03%
PPG Industries Inc 0.03%
Ping An Insurance Group 0.03%
Rentokil Initial Finance B.V. 4.375% 27/06/2030 0.03%
Tesco Property Finance 2 PLC 6.0517% 13/10/2039 0.03%
Asahi Group Holdings Ltd 0.02%
Clorox Company 0.02%
Denso Corp 0.02%
Fujifilm Holdings Ord Shs 0.02%
Kao Corporation 0.02%
Kellogg Co 0.02%
Koninkilijke Dsm Ord Shs 0.02%
Kraft Heinz Co/The 0.02%
Kraft Heinz Foods Company 4.875% 01/10/2049 0.02%
Mosaic Co/The 0.02%
Otsuka Holdings Co Ltd 0.02%
Shiseido Co Ltd 0.02%
Tyson Foods Inc 0.02%
Unicharm Corporation 0.02%
Akzo Nobel Nv 0.01%
Arkema Ord Shs 0.01%
Avantor Inc 0.01%
Barry Callebaut Ord Shs 0.01%
Burberry Group PLC 0.01%
Campbell Soup Co 0.01%
Covestro AG 0.01%
Croda International PLC 0.01%
Ems-Chemie Holding Ord Shs 0.01%
Fmc Corp 0.01%
Formosa Chemicals & Fibre Ord Shs 0.01%
Groupe Bruxelles Lambert SA 0.01%
Kraft Heinz Foods Co 4.375% 01/06/2046 0.01%
Mitsubishi Chemical Holdings Corp 0.01%
Moncler Ord Shs 0.01%
Mowi Asa 0.01%
Nippon Paint Holdings Ord Shs 0.01%
Nissan Chemical Ord Shs 0.01%
Petronas Chemicals Group Ord Shs 0.01%
Ping An Insurance Group - A 0.01%
Rentokil Initial Ord Shs 0.01%
Sahara International Petrochemical Company Sjsc 0.01%
Sk Innovation Ord Shs 0.01%
Tesco Property Finance 1 PLC 7.6227% 13/07/2039 0.01%
The Swatch Group AG 0.01%
Turkiye Sise Ve Cam Fabrikalari A Ord Shs 0.01%
Umicore Ord Shs 0.01%
Wilmar International Ord Shs 0.01%
Yara International Ord Shs 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	1.53%	1.26%
2021	32.66%	24.25%
2020	-4.45%	-0.17%

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:

Fisher & Paykel Healthcare Ltd
New Zealand Australasian Equities

2.45%
Apple Inc
United States International Equities

2.25%
Spark New Zealand Ltd
New Zealand Australasian Equities

2.12%
Auckland International Airport Ltd
New Zealand Australasian Equities

2.01%
Microsoft Corporation
United States International Equities

1.85%
Contact Energy Ltd
New Zealand Australasian Equities

1.63%
Infratil Ltd
New Zealand Australasian Equities

1.61%
Meridian Energy Ltd
New Zealand Australasian Equities

1.56%
Ebos Group Ltd
New Zealand Australasian Equities

1.47%
Mainfreight Ltd
New Zealand Australasian Equities

1.44%

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	1.0%	2.02%
New Zealand Fixed Interest	5.0%	5.2%
International Fixed Interest	14.0%	16.23%
Australasian Equities	27.0%	26.27%
International Equities	53.0%	50.28%
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:

3.41%
Fossil Fuels:

3.55%
Gambling:

0.00%
GMOs:

0.04%
Human Rights & Environmental Violations:

2.35%
Palm Oil:

0.01%
Tobacco:

0.00%
Weapons:

0.49%

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 Growth Fund invests mostly in growth assets, which generally have higher levels of risk with the potential for higher returns. It also has a modest allocation to income assets, which generally have lower levels of risk and potential returns. It aims to achieve higher returns over the long term."

Value	$76M NZD
Period of data report	Fri Sept. 30th 2022
Fund started	Mon May 21st 2018
Total annual fund fees	0.57%
Total performance based fees	0.0%
Manager's basic fee	0.57%
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.

Portfolio holdings v