Nikko AM Conservative Fund

Not Mindful

Type: Conservative fund

Past Returns: 5.33%

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

Annual Fees: 0.73%

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

BP Capital Markets America Inc 060224 3.79 Cb 0.02%
Coca Cola Co USD 0.39%
Energy Transfer Operating Lp 150550 5.00 Cb 0.01%
Gaz Capital SA 160837 7.288 Cb 0.01%
Gaz Finance PLC 250230 3.25 Cb 0.02%
Genesis Energy Ltd 030425 5.00 Cb 0.27%
Genesis Energy Ltd 080323 5.81 Gb 0.02%
Genesis Energy Ltd 200722 1.32 Gb 0.02%
Glencore Funding Llc 120329 4.875 Cb 0.03%
Glencore Funding Llc 290424 4.625 Cb 0.03%
Glencore Funding Llc 300523 4.125 Cb 0.03%
Lukoil Securities Bv 060530 3.875 Cb 0.01%
Marathon Petroleum Corp 010428 3.8 Cb 0.01%
New Zealand Refining Company Limited 0.04%
Origin Energy Finance Ltd 170929 1.00 Cb 0.01%
Sasol Financing Usa Llc 270324 5.875 Cb 0.01%
Suncor Energy Inc 011224 3.6 Cb 0.03%
Suncor Energy Inc 150525 3.10 Cb 0.02%
Wintershall Dea Finance Bv 250928 1.332 Cb 0.02%

Weapons

Airbus Se 070428 2.00 Cb 0.03%
Airbus Se 070432 2.375 Cb 0.03%
Teledyne Technologies Inc 010424 0.95 Cb 0.03%

Gambling

Aristocrat Leisure Ltd 0.10%
Skycity Entertainment Group Limited 0.28%

Alcohol

Anheuser Busch Companies Llc 010246 4.90 Cb 0.01%
Anheuser Busch Inbev Nv 020440 3.70 Cb 0.01%
Anheuser Busch Inbev Worldwide Inc 150448 4.60 Cb 0.02%
Anheuser Busch Inbev Worldwide Inc 230125 4.15 Cb 0.01%
Anheuser Busch Inbev Worldwide Inc 230129 4.75 Cb 0.02%
Bacardi Ltd 150528 4.70 Cb 0.02%
Constellation Brands Inc 010530 2.875 Cb 0.03%
Constellation Brands Inc 061226 3.70 Cb 0.01%
Constellation Brands Inc 150223 3.2 Cd 0.03%
Diageo Capital PLC 290430 2.00 Cb 0.04%

Human Rights & Environmental Violations

Bayer AG 120129 0.375 Cb 0.03%
Glencore Funding Llc 120329 4.875 Cb 0.03%
Glencore Funding Llc 290424 4.625 Cb 0.03%
Glencore Funding Llc 300523 4.125 Cb 0.03%

Animal Testing

Bayer AG 120129 0.375 Cb 0.030%
Coca Cola Co USD 0.390%
Dowdupont Inc 151125 4.493 Cb 0.010%
Dowdupont Inc 151128 4.725 Cb 0.040%
Johnson Matthey PLC 0.250%
Kerry Group PLC-A 0.260%
Keurig Dr Pepper Inc 150926 2.55 Cb 0.030%
Mondelez International Inc 130430 2.75 Cb 0.020%
Sasol Financing Usa Llc 270324 5.875 Cb 0.010%
Syngenta Finance AG 240423 4.441 Cb 0.020%
Syngenta Finance Nv 240425 4.892 Cb 0.020%
Unilever PLC 0.220%

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to Wed March 31st 2021 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.

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
2021	8.21%	11.53%
2020	-0.29%	-0.35%
2019	4.31%	4.8%

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 March 31st 2021.

Showing the top 10 investments for this fund:

Jpm Multi Manager Alternatives Fund
Luxembourg Other

5.06%
Westpac NZD Cash
New Zealand Cash and Equivalents AA-

1.8%
New Zealand Lgfa 140433 3.50
New Zealand NZ Fixed Interest AAA

1.61%
Kommunalbanken 020730 1.25
New Zealand NZ Fixed Interest AAA

1.58%
New Zealand Govt 200925 2.0 Indexed Bond
New Zealand NZ Fixed Interest AAA

1.37%
Kiwibank Ltd 200924 2.155
New Zealand NZ Fixed Interest A

1.34%
Fisher & Paykel Healthcare Corporation
New Zealand Cash and Equivalents

1.3%
Japan Government 010323 0.10
Japan Int Fixed Interest A+

1.13%
New Zealand Government 150427 4.50
New Zealand NZ Fixed Interest AAA

1.11%
ASB Bank Ltd 220222
New Zealand Cash and Equivalents AA-

1.11%

This information has been sourced from the quarterly data that each fund has filed with Disclose register Wed March 31st 2021.

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

Target

Actual

Type	Target	Actual
Cash and Cash Equivalents	15.0%	15.17%
New Zealand Fixed Interest	35.0%	34.77%
International Fixed Interest	17.5%	17.38%
Australasian Equities	8.5%	8.59%
International Equities	14.0%	14.06%
Listed Properties	5.0%	4.97%
Unlisted Properties	0.0%	0.0%
Other	5.0%	5.06%
Commodities	0.0%	0.0%

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Wed March 31st 2021.

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).

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:

0.20%
Animal Testing:

1.32%
Fossil Fuels:

1.10%
Gambling:

0.38%
GMOs:

0.00%
Human Rights & Environmental Violations:

0.14%
Palm Oil:

0.00%
Tobacco:

0.00%
Weapons:

0.09%

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 their policy may be less stringent than the definitions applied by Mindful Money.

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 Conservative Fund’s strategy is to invest across a range of actively managed funds to create a diversified portfolio with a focus on lower risk assets."

Value	$10M NZD
Period of data report	Wed March 31st 2021
Fund started	Tue April 3rd 2018
Total annual fund fees	0.73%
Total performance based fees	0.0%
Manager's basic fee	0.62%
Other management and administration charges	0.11%
Total other charges	0.0
Total other charges currency	NZD

Key Personnel

Fergus Mcdonald	Currently: Head of Bonds and Currency - Nikko Asset Management (20 years, 9 months) Previously: NZ Fixed Interest Portfolio Manager - Nikko Asset Management New Zealand Limited (10 years, 5 months)
George Carter	Currently: Managing Director - Nikko Asset Management (5 years, 5 months) Previously: Director Head of Distribution - AMP Capital Investors NZ Limited (6 years, 4 months)
Stuart Williams	Currently: Head of Equities and Member of Investment Committee (6 years, 8 months) Previously: Portfolio Manager - OnePath (NZ) Limited (1 years, 7 months)
James Wesley	Currently: Head of Distribution and Member of Investment Committee (7 years, 4 months) Previously: Head of Australia - Wholesale - Threadneedle Investments (3 years, 0 months)
James Rogers	Currently: Chief Operating Officer and Member of Investment Committee (4 years, 0 months) Previously: Senior Project Manager - Nikko Asset Management New Zealand Limited (0 years, 4 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to Wed March 31st 2021.

Downloads

Download the fund's disclosure statement and portfolio holdings.

Portfolio holdings v