BNZ Youwealth Growth Fund

Not Mindful

Type: Growth fund

Past Returns: *-0.17%

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

Annual Fees: 0.81%

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

Alleghany Corp 0.01%
Alliant Energy Corp 0.01%
Aluminum Corp Of China Ltd 0.01%
Anglo American PLC 0.03%
Arcelormittal 0.01%
Astra International Ord Shs 0.01%
Basf Se 0.06%
BHP Group PLC 0.04%
Cabot Oil & Gas Ord Shs 0.01%
Canadian Pacific Railway Ord Shs 0.04%
Cheniere Energy Ord Shs 0.01%
Chevron Corporation 0.14%
China Petroleum & Chemical - H 0.01%
Chubu Electric Power Ord Shs 0.01%
Citic Securities Co Ltd 0.01%
Ck Hutchison Holdings Ltd 0.02%
Cnooc Ltd 0.02%
Coca-Cola Co/The 0.20%
Concho Resources Ord Shs 0.01%
Conocophillips 0.04%
Cosmo Energy Holdings Ord Shs 0.01%
Dominion Energy Inc 0.07%
Dte Energy Ord Shs 0.02%
Edp - Energias De Portugal SA 0.01%
Electricite De France SA Medium Term Note 4.125% 25/03/2027 0.01%
Electricite De France SA Medium Term Note 6.125% 02/06/2034 0.01%
Enagas Ord Shs 0.01%
Enbridge Inc 0.06%
Enel Finance International Nv Medium Term Note 0.375% 17/06/2027 0.01%
Enel Spa 0.07%
Engie SA 0.02%
Eni Spa 0.02%
Eog Resources Inc 0.02%
Equinor Asa 0.01%
Evraz Ord Shs 0.01%
Exxon Mobil Corp 0.15%
Fortum Ord Shs 0.01%
Franco-Nevada Corp 0.03%
Galp Energia Sgps SA 0.01%
Gazprom Ord Shs 0.02%
Glencore PLC 0.02%
Hess Corp 0.01%
Hong Kong & China Gas Co Ltd 0.02%
Iberdrola SA 0.07%
Itochu Corp 0.03%
Jxtg Holdings Ord Shs 0.01%
Kansas City Southern 0.02%
Kinder Morgan Inc/De 0.03%
Loews Corp 0.01%
Lukoil PJSC 0.02%
Lundin Energy Ab 0.01%
Marathon Petroleum Corp 0.02%
Mitsubishi Corp 0.03%
Mitsui & Co Ltd 0.03%
Neste Ord Shs 0.02%
New World Development 0.01%
New Zealand Refining Ltd 0.07%
Nextera Energy Inc 0.14%
Nippon Steel & Sumitomo Metal Ord Shs 0.01%
Nk Rosneft Ord Shs 0.01%
Norfolk Southern Corp 0.05%
Nrg Energy Ord Shs 0.01%
Occidental Petroleum Corp 0.01%
Omers Finance Trust 0.45% 13/05/2025 0.01%
Orix Corp 0.01%
Orsted Ord Shs 0.03%
Osaka Gas Ord Shs 0.01%
Petrochina Co Ltd-H 0.01%
Petroleo Brasileiro SA Petrobras 0.03%
Phillips 66 0.02%
Pinnacle West Ord Shs 0.01%
Pioneer Natural Resources Co 0.01%
Posco 0.01%
Power Assets Holdings Ord Shs 0.01%
Ptt Pcl - Foreign 0.02%
Reliance Industries Ltd 0.07%
Repsol SA 0.01%
Rio Tinto PLC 0.07%
Royal Dutch Shell PLC - B Shs 0.06%
Royal Dutch Shell PLC-A Shs 0.04%
Rwe AG 0.02%
Saudi Arabian Oil 0.01%
Sinopec Group Overseas Development (2013) Ltd 5.375% 17/10/2043 0.01%
Sk Innovation Ord Shs 0.01%
Snam Ord Shs 0.01%
Sse PLC 0.02%
Surgutneftegaz PJSC 0.01%
Tatneft PJSC 0.01%
Tc Energy Corp 0.04%
Tenaga Nasional Ord Shs 0.01%
Total SA 0.08%
Vale SA 0.04%
Valero Energy Corp 0.02%
Wec Energy Group Ord Shs 0.03%
Weyerhaeuser Co 0.02%
Xcel Energy Ord Shs 0.04%

Weapons

Amphenol Corp-Cl A 0.04%
Heico Corp 0.01%
Howmet Aerospace Inc 0.01%
Mitsubishi Heavy Industries Ord Shs 0.01%
Teledyne Technologies Inc 0.01%
Transdigm Group Inc 0.02%

Tobacco

Alimentation Couche-Tard Inc 0.03%
Familymart Uny Holdings Ord Shs 0.01%
Seven & I Holdings Co Ltd 0.02%

Gambling

Aristocrat Leisure Ltd 0.15%
Evolution Gaming Group 0.01%
Flutter Entertainment PLC 0.02%
Galaxy Entertainment Group Ord Shs 0.01%
Gvc Holdings Ord Shs 0.01%
Las Vegas Sands Corp 0.01%
Mgm Resorts International Ord Shs 0.01%
Sands China Ltd 0.01%
Sky City Entertainment Group 0.46%
Wynn Resorts Ord Shs 0.01%

Adult Entertainment/Pornography

Mgm Resorts International Ord Shs 0.01%

Alcohol

Ambev SA 0.01%
Anheuser Busch Inbev Nv Medium Term Note 2.25% 24/05/2029 0.01%
Anheuser-Busch Inbev Nv 0.05%
Asahi Group Holdings Ltd 0.01%
Brown-Forman Corp-Class B 0.02%
Budweiser Brewing Company Apac Ltd 0.01%
China Resources Beer Holdings Ord Shs 0.01%
Constellation Brands Inc-A 0.03%
Delegat Group Ltd 0.08%
Diageo PLC 0.08%
Heineken Holdings Nv 0.01%
Heineken Nv 0.02%
Heineken Nv Medium Term Note 1% 04/05/2026 0.01%
Kirin Holdings Co Ltd 0.01%
Kweichow Moutai Co Ltd-A 0.02%
Luzhou Laojiao Co Ltd 0.01%
LVMH Moet Hennessy Louis Vui 0.12%
Molson Coors Brewing Co -B 0.01%
Pernod Ricard SA 0.03%
Tsingtao Brewery Co Ltd-A 0.01%
Wuliangye Yibin Co Ltd 0.01%

Palm Oil

Posco 0.01%

GMOs

Corteva Inc 0.02%

Human Rights & Environmental Violations

Archer-Daniels-Midland Co 0.03%
Barrick Gold Corp 0.05%
BHP Group PLC 0.04%
Chevron Corporation 0.14%
Duke Energy Corp 0.06%
Essity Aktiebolag-B 0.02%
Freeport - Mcmoran Copper 0.02%
Glencore PLC 0.02%
Grupo Mexico B Ord Shs 0.01%
Johnson & Johnson 0.40%
Nestle SA-Reg 0.34%
Nutrien Ord Shs 0.02%
Petrochina Co Ltd-H 0.01%
Petroleo Brasileiro SA Petrobras 0.03%
Posco 0.01%
Rio Tinto PLC 0.07%
Royal Dutch Shell PLC - B Shs 0.06%
Royal Dutch Shell PLC-A Shs 0.04%
Sempra Energy 0.04%
Vale SA 0.04%
Zijin Mining Group Co Ltd 0.01%

Animal Testing

Air Liquide SA 0.080%
Air Products and Chemicals- Inc. 0.070%
Akzo Nobel Nv 0.020%
Albemarle Corp 0.010%
Archer-Daniels-Midland Co 0.030%
Arkema Ord Shs 0.010%
Asahi Group Holdings Ltd 0.010%
Associated British Foods PLC 0.010%
Basf Se 0.060%
Bayer AG-Reg 0.060%
Bayer Capital Corp Bv 1.5% 26/03/2026 0.010%
Beiersdorf Ord Shs 0.010%
Burberry Group PLC 0.010%
Chevron Corporation 0.140%
China Feihe Ltd 0.010%
Church and Dwight Ord Shs 0.020%
Clorox Company 0.030%
Coca-Cola Co/The 0.200%
Colgate-Palmolive Co 0.070%
Corteva Inc 0.020%
Covestro AG 0.010%
Croda International PLC 0.010%
Danone 0.040%
Dow Inc 0.040%
Du Pont De Nemours 0.040%
Ecolab Inc 0.050%
Ems-Chemie Holding Ord Shs 0.010%
Essity Aktiebolag-B 0.020%
Estee Lauder Cos Inc/The 0.050%
Fmc Corp 0.010%
General Mills Inc 0.040%
Givaudan Ord Shs 0.040%
Glaxosmithkline Capital PLC Medium Term Note 1.625% 12/05/2035 0.010%
Glaxosmithkline PLC 0.090%
Henkel AG & Co Kgaa 0.030%
Herbalife Nutrition Ord Shs 0.010%
Hermes International 0.030%
Hindustan Unilever Ltd 0.020%
Idemitsu Kosan Ord Shs 0.010%
Ingredion Ord Shs 0.010%
Johnson & Johnson 0.400%
Johnson Matthey PLC. 0.010%
Kao Corporation 0.040%
Kellogg Co 0.020%
Kerry Group Ord Shs 0.020%
Keurig Dr Pepper Ord Shs 0.010%
Kimberly-Clark Corp 0.050%
Kirin Holdings Co Ltd 0.010%
Koninkilijke Dsm Ord Shs 0.030%
Kraft Heinz Co/The 0.020%
L'Oreal SA 0.080%
Lg Household & Health Care Ord Shs 0.010%
Linde PLC 0.130%
LVMH Moet Hennessy Louis Vui 0.120%
Mondelez International Inc-A 0.080%
Nestle SA-Reg 0.340%
Nippon Paint Holdings Ord Shs 0.020%
Nutrien Ord Shs 0.020%
Orkla Asa 0.010%
Pepsico Inc 0.200%
PPG Industries Inc 0.030%
Procter and Gamble Co/The 0.350%
Puma Se 0.010%
Reckitt Benckiser Group PLC 0.060%
Reliance Industries Ltd 0.070%
Royal Dutch Shell PLC - B Shs 0.060%
Royal Dutch Shell PLC-A Shs 0.040%
Sainsbury(J) Ord Shs 0.010%
Seven & I Holdings Co Ltd 0.020%
Sherwin-Williams Co/The 0.060%
Shin-Etsu Chemical Co Ltd 0.050%
Shiseido Co Ltd 0.020%
Sk Innovation Ord Shs 0.010%
Svenska Cellulosa Ab Sca 0.010%
Tate and Lyle Ord Shs 0.010%
Tesco Corporate Treasury Services PLC Medium Term Note 1.375% 24/10/2023 0.010%
Tesco PLC 0.030%
Umicore Ord Shs 0.010%
Unicharm Corporation 0.020%
Unilever Nv-Cva 0.090%
Unilever PLC 0.070%
Wanhua Chemical Group Co Ltd 0.010%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Wed Sept. 30th 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, Sustainalytics and research organisations.

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
2020	-4.35%	-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 Wed Sept. 30th 2020.

Showing the top 10 investments for this fund:

Fisher & Paykel Healthcare Ltd
New Zealand Australasian Equities

4.06%
A2 Milk Company Ltd
New Zealand Australasian Equities

2.78%
Spark New Zealand Ltd
New Zealand Australasian Equities

2.28%
Apple Inc
United States International Equities

1.92%
Microsoft Corporation
United States International Equities

1.61%
Meridian Energy Ltd
New Zealand Australasian Equities

1.38%
Amazon.Com Inc
United States International Equities

1.37%
Auckland International Airport Ltd
New Zealand Australasian Equities

1.36%
Contact Energy Ltd
New Zealand Australasian Equities

1.32%
Mainfreight Ltd
New Zealand Australasian Equities

1.15%

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

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	5.0%	7.75%
New Zealand Fixed Interest	4.0%	2.93%
International Fixed Interest	11.0%	13.58%
Australasian Equities	26.0%	25.06%
International Equities	54.0%	50.68%
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 Wed Sept. 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:

0.01%
Alcohol:

0.57%
Animal Testing:

4.14%
Fossil Fuels:

2.77%
Gambling:

0.70%
GMOs:

0.02%
Human Rights & Environmental Violations:

1.47%
Palm Oil:

0.01%
Tobacco:

0.06%
Weapons:

0.11%

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 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	$23M NZD
Period of data report	Wed Sept. 30th 2020
Members	Not provided
Fund started	Mon May 21st 2018
Total annual fund fees	0.81%
Total performance based fees	0.0%
Manager's basic fee	0.81%
Administration charges	0.0%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Richard Morath	Currently: Director BNZ Investment Services Limited (7 years, 3 months) Previously: Non-Executive Director BNZ Life Insurance Limited (current position) (16 years, 10 months)
Richard Ansell	Currently: Director BNZ Investment Services Limited (1 years, 7 months) Previously: Member BNZ Investment Review Committee (current position) (1 years, 7 months)
Hayley Cassidy	Currently: Director BNZ Investment Services Limited (1 years, 5 months) Previously: Chief General Counsel BNZ (current position) (1 years, 6 months)
Paul Richardson	Currently: Director BNZ Investment Services Limited (0 years, 10 months) Previously: Chief Investment Officer/Executive Director Mint Asset Management Limited (4 years, 8 months)
Daniel Huggins [New]	Currently: Director BNZ Investment Services Limited (0 years, 2 months) Previously: Executive - Customer Products & Services BNZ (current position) (0 years, 6 months)