Funds

PIE Global Growth 2 Fund

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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.

Key:

  • Adult Entertainment/Pornography
  • Alcohol
  • Animal Cruelty
  • Fossil Fuels
  • Gambling
  • GMOs
  • Human Rights & Environmental Violations
  • Palm Oil
  • Tobacco
  • Weapons

Companies of concern

  • Fossil Fuel

    • Nextera Energy Partners Lp 3.02%

  • Weapons

    • Wal Mart De Mexico Sab De Cv 3.63%

  • Human Rights & Environmental Violations

    • Nutrien Ltd 1.86%
    • Thermo Fisher Scientific Inc 1.06%

  • Animal Cruelty

    • Nutrien Ltd 1.86%

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. 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.

About this fund

In their own words

The Fund seeks to provide investors with long-term capital growth, by investing in large companies globally, directly and through ETFs.

Value $65M NZD
Period of data report 31st Dec. 2022
Fund started 1st May 2018
Total annual fund fees 1.45%
Total performance based fees 0.0%
Manager's basic fee 1.45%
Other management and administration charges 0.0%
Total other charges 0.0
Total other charges currency NZD

Key Personnel

Michael Taylor

Currently: Executive Director and Chief Investment Officer (0 years, 9 months)
Previously: Executive Director and Chief Executive Officer, Pie Funds (15 years, 5 months)

Guy Thornewill

Currently: Head of Global Research (4 years, 5 months)
Previously: Portfolio Manager at Ruffer LLP (9 years, 0 months)

Toby Woods

Currently: Senior Investment Analyst (3 years, 4 months)
Previously: Head of Equity Sales at Hauck & Aufhäuser (9 years, 5 months)

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.

Investment Exclusions

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 0.00%
Animal Cruelty 1.86%
Fossil Fuels 3.02%
Gambling 0.00%
GMOs 0.00%
Human Rights & Environmental Violations 2.91%
Palm Oil 0.00%
Tobacco 0.00%
Weapons 3.63%

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. 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.

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.

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
2022 1.53% -2.17%
2021 32.66% 26.12%
2020 -4.45% -1.41%

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. 2022.

Top 10 Investments

  • BNZ Call Account - NZD
    New Zealand Cash and Equivalents AA-
    6.15%
  • Boc Call Account - NZD
    New Zealand Cash and Equivalents A
    3.09%
  • Alcon AG
    Switzerland International Equities
    2.82%
  • Cellnex Telecom SA
    Spain Other
    2.73%
  • Schneider Electric Se
    Greece International Equities
    2.71%
  • Sika AG
    Switzerland International Equities
    2.62%
  • Wal Mart De Mexico Sab De Cv
    Mexico International Equities
    2.57%
  • Keyence Corp
    Japan Listed Property
    2.56%
  • Nextera Energy Partners Lp
    United States International Equities
    2.56%
  • Equinix Inc
    United States Listed Property
    2.55%
Type Target Actual
Cash and Cash Equivalents 0.0% 12.6%
New Zealand Fixed Interest 0.0% 0.0%
International Fixed Interest 0.0% 3.9%
Australasian Equities 0.0% 0.0%
International Equities 100.0% 80.8%
Listed Properties 0.0% 2.7%
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.

Target

Actual

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.