Issues of concern

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.


  • Human Rights Violations
  • Environmental Harm
  • Animal Cruelty
  • Weapons
  • Fossil Fuels
  • Social Harm

Companies of concern

    • Thermo Fisher Scientific Inc 0.36%
    • Nutrien Ltd 0.14%
    • LVMH Moet Hennessy Louis Vui 0.38%
    • L'Oreal 0.37%
    • Estee Lauder Companies-Cl A 0.18%
    • Nutrien Ltd 0.14%
    • Unilever PLC 0.12%
    • Contact Energy Ltd 1.25% 1.5°C
      This company is on a 1.5°C pathway

Fund Provider Response

All companies are exposed to varying levels of ESG risks. Mint analyses the most material ESG risks companies are exposed to, and we expect our investee companies to manage these risks appropriately. If their risk management falls short of our expectations, in most cases we prefer to engage with the company to encourage sustainable change. Engagement is preferred to divestment as divesting reduces our ability to positively influence. Please see the Responsible Investing section of our website for more info:

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to 30th Sept. 2023 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.

About this fund

The Fund has a broad mandate which permits investments into New Zealand and international equities (including listed property if held), but will also hold cash and fixed-interest securities. The objective of the Fund is to deliver a total return (through a combination of income and capital growth) in excess of the Consumers Price Index (CPI) by 3% per annum, before fees, over the medium to long term. The relevant market index for the Fund is a composite index derived from the underlying asset classes of the Fund that make up the Fund's Strategic Asset Allocation.

Value $87.4M NZD
Period of data report 31st Dec. 2023
Fund started 31st Aug. 2014
Total annual fund fees 0.95%
Total performance based fees 0.0%
Manager's basic fee 0.76%
Other management and administration charges 0.19%
Total other charges 0.0
Total other charges currency NZD

Marek Krzeczkowski

Currently: Portfolio Manager (4 years, 8 months)
Previously: Quantitative Analyst (Mint Asset Management) (1 years, 8 months)

Ryan Falls

Currently: Senior Analyst (1 years, 4 months)
Previously: Senior Vice President - Redington (UK) (4 years, 6 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.

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
2023 -1.56% -2.24%
2022 -0.95% -0.7%
2021 8.70% 10.1%
2020 0.08% -1.62%
2019 4.31% 5.69%
2018 3.39% 3.26%
2017 3.28% 2.56%
2016 2.92% 5.37%

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 Dec. 2023.

Top 10 Investments

  • NZGB 1.75% 15/05/2041
    New Zealand NZ Fixed Interest AA+
  • Spknz 4.37% 29/09/2028
    New Zealand NZ Fixed Interest A-
  • Vctnz 3.69% 26/11/2027
    New Zealand NZ Fixed Interest BBB
  • Cennz 5.62% 06/04/2029
    New Zealand NZ Fixed Interest BBB
  • Merinz 5.91% 20/09/2028
    New Zealand NZ Fixed Interest BBB+
  • Mcynz 1.56% 14/09/2027
    New Zealand NZ Fixed Interest BBB+
  • Ocanz 2.30% 19/10/2027
    New Zealand NZ Fixed Interest
  • Cetf 10.00% 23/02/2024
    Australia Int Fixed Interest
  • Hounz 1.534% 10/09/2035
    New Zealand NZ Fixed Interest AAA
  • Cash At Bank - Wbc
    New Zealand Cash and Equivalents
Type Target Actual
Cash and Cash Equivalents 5.0% 4.16%
New Zealand Fixed Interest 50.0% 59.17%
International Fixed Interest 15.0% 8.05%
Australasian Equities 20.0% 12.68%
International Equities 10.0% 10.38%
Listed Properties 0.0% 5.56%
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 against the fund's targets.

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2023.