ASB KiwiSaver Scheme
ASB Growth Fund

In their own words: "The Growth Fund aims to provide high total returns with a negative return expected less than one in every four years. We manage asset allocation and currency hedging over the medium to long term relative to the target investment mix. We focus on cost effective management. The Growth Fund invests in income and growth assets with a target investment mix of 20% income assets and 80% growth assets."

At a glance:

Not Mindful
Type: Growth fund
Past Returns: *8.18%

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

Annual Fees: 0.67%

Annual fees, including membership and % management fee.

More information:

A summary of this fund and it's details.

Number FND532
Name ASB Growth Fund
Risk profile Growth fund
Description The Growth Fund aims to provide high total returns with a negative return expected less than one in every four years. We manage asset allocation and currency hedging over the medium to long term relative to the target investment mix. We focus on cost effective management. The Growth Fund invests in income and growth assets with a target investment mix of 20% income assets and 80% growth assets.
Value $2.9B NZD
Members 142,288
Market index description The market index return is the target investment mix asset allocation weighted sum of the asset class market index return, where the target investment mix and asset class market indices are each as described in the Statement of Investment Policy and Objectives (SIPO).
Disclosure Statement Period Mon Sept. 30th 2019
Fund started Tue Oct. 2nd 2007
Three-year average return *8.18%
Market index past year return 10.37%
Past year return net charges and tax 7.31%
Past year return net of charges gross of tax 8.13%
Market index return since fund started 10.48%
Return since fund started net 8.39%
Total annual fund fees 0.67%
Total performance based fees 0.0%
Manager's basic fee 0.67%
Administration charges 0.0%
Total other charges 30.0
Total other charges currency NZD

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

The past annual returns for this fund. Please note that higher past returns do not always mean higher future returns.

Year Market Average Fund Annual Return
2019 6.87% 8.23%
2018 7.63% 8.13%
2017 8.87% 10.31%
2016 3.62% 3.39%
2015 13.73% 15.21%
2014 8.43% 9.42%
2013 12.00% 11.27%
2012 -1.50% -1.86%
2011 6.13% 6.74%
2010 23.64% 28.14%

The market index is the average NZ KiwiSaver 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 KiwiSaver fund has filed with Disclose register to 30 September 2019.

Showing the top 10 investments for this fund:

  • A2 Milk Co Ltd
    New Zealand Australasian Equities N/A
    1.93%
  • Fisher & Paykel Healthcare Corporation Ltd
    New Zealand Australasian Equities
    1.91%
  • Auckland International Airport Ltd
    New Zealand Australasian Equities
    1.65%
  • Spark New Zealand Ltd
    New Zealand Australasian Equities N/A
    1.55%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    1.45%
  • Meridian Energy Ltd
    New Zealand Australasian Equities N/A
    1.24%
  • Contact Energy Ltd
    New Zealand Australasian Equities N/A
    1.16%
  • Commonwealth Bank Of Australia
    Australia Australasian Equities
    1.1%
  • Ryman Healthcare Ltd
    New Zealand Australasian Equities
    1.05%
  • Westpac Banking Corporation
    Australia Australasian Equities
    0.94%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

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

Target

Actual


Type Target Actual
Cash and Cash Equivalents 1.0% 1.22%
New Zealand Fixed Interest 6.5% 10.5%
International Fixed Interest 12.5% 7.52%
Australasian Equities 40.0% 35.21%
International Equities 32.5% 40.98%
Listed Properties 7.5% 4.57%
Unlisted Properties 0.0% 0.0%
Unknown None% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

Key Personnel

  • Adam Boyd

    Currently: Investment Committee member (3 years, 4 months)
    Previously: Executive GM Private Banking, Wealth & Insurance, ASB Bank (current position) (3 years, 4 months)

  • Adam Boyd

    Currently: Investment Committee member (2 years, 10 months)
    Previously: Executive GM Private Banking, Wealth & Insurance, ASB Bank (current position) (2 years, 10 months)

  • Craig Sims (Not Named In A Previous Fund Update)

    Currently: Investment Committee member (0 years, 8 months)
    Previously: Executive GM Retail Banking, ASB Bank (current position) (0 years, 8 months)

  • Gavin Walker

    Currently: Investment Committee member (4 years, 7 months)
    Previously: Chairman, ASB Bank (current position) (7 years, 8 months)

  • John Smith

    Currently: Investment Committee member (8 years, 4 months)
    Previously: Head of Asset Management, ASB Bank (current position) (7 years, 4 months)

  • Jonathan Beale

    Currently: Investment Committee member (5 years, 1 months)
    Previously: General Manager Wealth, ASB Bank (current position) (5 years, 3 months)

  • John Smith

    Currently: Investment Committee member (7 years, 10 months)
    Previously: Head of Asset Management, ASB Bank (current position) (6 years, 10 months)

  • Jonathan Beale

    Currently: Investment Committee member (4 years, 7 months)
    Previously: General Manager Wealth, ASB Bank (current position) (4 years, 9 months)

  • Nigel Annett

    Currently: Investment Committee member (5 years, 6 months)
    Previously: Executive GM Corporate Banking, ASB Bank (current position) (0 years, 11 months)

  • Nigel Annett

    Currently: Investment Committee member (5 years, 0 months)
    Previously: Executive GM Corporate Banking, ASB Bank (current position) (0 years, 5 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30 September 2019.

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
    Is it excluded?
    Portfolio analysis
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.64%
  • Animal Testing:
    3.16%
  • Fossil Fuels:
    4.08%
  • Gambling:
    0.36%
  • GMOs:
    0.38%
  • Human Rights & Environmental Violations:
    2.27%
  • Palm Oil:
    0.04%
  • Tobacco:
    0.00%
  • Weapons:
    0.56%

This data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 30 September 2019 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 and research organisations.

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 KiwiSaver funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons

Specific companies invested in:

Fossil Fuel

BHP Group Ltd 0.84%
Exxon Mobil Corporation 0.26%
Woodside Petroleum Limited 0.23%
Chevron Corp 0.20%
Bp Plc 0.11%
Royal Dutch Shell Plc 'A' Ord 0.11%
Total Sa 0.11%
Origin Energy Ltd 0.11%
Santos Ltd 0.11%
Apa Group 0.11%
South32 Ltd 0.10%
Nextera Energy Inc 0.10%
Royal Dutch Shell Plc-B Shs 0.10%
Oil Search Limited 0.07%
Enbridge Inc 0.06%
Dominion Energy Incorporated 0.06%
Conocophillips 0.06%
Caltex Australia Ltd 0.05%
Suncor Energy Inc 0.04%
Phillips 66 0.04%
Gazprom Pjsc 0.04%
BHP Group Plc 0.04%
Eog Resources Inc 0.04%
Kinder Morgan Inc 0.04%
Occidental Petroleum Corp 0.04%
Eni Spa 0.04%
Lukoil Pjsc 0.04%
Marathon Petroleum Corp 0.03%
Beach Energy Ltd 0.03%
Valero Energy Corp 0.03%
Petrobras - Petroleo Bras-Pr 0.03%
Cnooc Ltd 0.03%
Oneok Inc 0.03%
Engie 0.03%
Glencore Plc 0.03%
Canadian Natural Resources 0.03%
Petrobras - Petroleo Bras 0.02%
Anglo American Plc 0.02%
Novatek Pjsc-Spons Gdr Reg S 0.02%
Washington H. Soul Pattinson 0.02%
Repsol Sa 0.02%
Pioneer Natural Resources Co 0.02%
Tatneft Pjsc 0.02%
Equinor Asa 0.02%
Whitehaven Coal Ltd 0.02%
Viva Energy Group Ltd 0.02%
China Petroleum & Chemical-H 0.02%
Pembina Pipeline Corp 0.02%
Hess Corp 0.01%
Cheniere Energy Inc 0.01%
Diamondback Energy Inc 0.01%
Jxtg Holdings Inc 0.01%
Petrochina Co Ltd-H 0.01%
Concho Resources Inc 0.01%
Sasol Ltd 0.01%
Marubeni Corp 0.01%
Noble Energy Inc 0.01%
Devon Energy Corporation 0.01%
Sk Innovation Co Ltd 0.01%
Marathon Oil Corp 0.01%
Snam Spa 0.01%
Rosneft Oil Co Pjsc 0.01%
Targa Resources Corp 0.01%
Apache Corp 0.01%
Polski Koncern Naftowy Orlen 0.01%
Omv Ag 0.01%
Galp Energia Sgps Sa 0.01%
Hollyfrontier Corp 0.01%
China Shenhua Energy Co-H 0.01%
Inpex Corp 0.01%
Cenovus Energy Inc 0.01%
Cooper Energy Ltd 0.01%
Inter Pipeline Ltd 0.01%
Cabot Oil & Gas Corp 0.01%
New Hope Corp Ltd 0.01%
Ptt Explor & Prod Public Co - Local 0.01%
Encana Corp 0.01%
Imperial Oil Ltd 0.01%
Petrobras Distribuidora Sa 0.01%
Lundin Petroleum Ab 0.01%
Ecopetrol Sa 0.01%
Reliance Industries Ltd 0.06%

Weapons

The Boeing Company 0.18%
United Technologies Corp 0.10%
Raytheon Company 0.05%
L3 Harris Technologies Inc 0.04%
General Dynamics Corp 0.04%
Transdigm Group Inc 0.02%
Bae Systems Plc 0.02%
Thales Sa 0.02%
Rolls-Royce Holdings Plc 0.02%
Leidos Holdings Inc 0.01%
Mitsubishi Heavy Industries Ltd 0.01%
Dassault Avaition Sa 0.01%
Heico Corp 0.01%
Meggitt Plc 0.01%

Gambling

Aristocrat Leisure Ltd 0.15%
Tabcorp Holdings Ltd 0.08%
Crown Resorts Ltd 0.03%
The Star Entertainment Group Ltd 0.03%
Las Vegas Sands Corp 0.02%
Mgm Resorts International 0.01%
Galaxy Entertainment Group L 0.01%
Sands China Ltd 0.01%
Wynn Resorts Ltd 0.01%
Jumbo Interactive Ltd 0.01%

Alcohol

Treasury Wine Estates Ltd 0.10%
Lvmh Moet Hennessy Vuitton ( Se ) 0.10%
Diageo Plc 0.09%
Anheuser-Busch Inbev Sa/Nv 0.06%
Pernod-Ricard Sa 0.03%
Constellation Brands Inc-A 0.03%
Heineken Nv 0.03%
Ambev Sa 0.03%
Metcash Ltd 0.02%
Brown-Forman Corp-Class B 0.02%
Asahi Group Holdings Ltd 0.02%
Kirin Holdings Co Ltd 0.02%
Carlsberg As-B 0.02%
Graincorp Ltd 0.01%
Heineken Holding Nv 0.01%
Remy Cointreau 0.01%
Molson Coors Brewing Co -B 0.01%
Kweichow Moutai Co Ltd 0.01%
China Resources Beer Holdings Co Ltd 0.01%
Davide Campari-Milano Spa 0.01%

Palm Oil

Posco 0.02%
Astra International Tbk Pt 0.01%
Wilmar International Ltd 0.01%

GMOs

Novartis Ag-Reg 0.16%
Bayer Ag-Reg 0.06%
Basf Se 0.06%
Dowdupont Inc 0.05%
Nutrien Ltd 0.03%
Stora Enso Oyj-R Shs 0.01%
Novozymes A/S-B Shares 0.01%

Human Rights & Environmental Violations

BHP Group Ltd 0.84%
Johnson & Johnson 0.30%
Nestle Sa-Reg 0.29%
Chevron Corp 0.20%
Royal Dutch Shell Plc 'A' Ord 0.11%
Royal Dutch Shell Plc-B Shs 0.10%
Duke Energy Corp 0.06%
BHP Group Plc 0.04%
Vale Sa 0.04%
Sempra Energy 0.04%
Glencore Plc 0.03%
Barrick Gold Corp 0.03%
Nutrien Ltd 0.03%
Archer-Daniels-Midland Co 0.02%
Essity Aktiebo-B 0.02%
Mining and Metallurgical Company Norilsk Nickel Ojsc 0.02%
Posco 0.02%
Freeport-Mcmoran Inc 0.01%
Petrochina Co Ltd-H 0.01%
Astra International Tbk Pt 0.01%
Jbs Sa 0.01%
Grupo Mexico Sab 0.01%
Wilmar International Ltd 0.01%
Tokyo Electric Power Company Holdings Incorporated 0.01%

Animal Testing

Johnson & Johnson 0.300%
Nestle Sa-Reg 0.290%
Procter & Gamble Co 0.270%
Chevron Corp 0.200%
Coca-Cola Co 0.190%
Pepsico Inc 0.170%
Royal Dutch Shell Plc 'A' Ord 0.110%
Royal Dutch Shell Plc-B Shs 0.100%
Lvmh Moet Hennessy Vuitton ( Se ) 0.100%
Glaxosmithkline Plc 0.090%
Unilever Nv 0.080%
L'Oreal 0.060%
Unilever Plc 0.060%
Bayer Ag-Reg 0.060%
Basf Se 0.060%
Groupe Danone 0.050%
Colgate-Palmolive Company 0.050%
Air Liquide Sa 0.050%
Reckitt Benckiser 0.050%
Dowdupont Inc 0.050%
Ecolab Inc 0.050%
Kimberly-Clark Corp 0.040%
Air Products & Chemicals Inc 0.040%
Walgreens Boots Alliance Inc 0.040%
Estee Lauder Companies-Cl A 0.040%
General Mills Inc 0.030%
Shiseido Co Ltd 0.030%
Tesco Plc 0.030%
Ppg Industries Inc 0.030%
Givaudan-Reg 0.020%
Archer-Daniels-Midland Co 0.020%
Koninklijke Dsm Nv 0.020%
Akzo Nobel 0.020%
Clorox Company 0.020%
Church & Dwight Co Inc 0.020%
Essity Aktiebo-B 0.020%
Henkel Ag & Co Kgaa Vorzug 0.020%
Beiersdorf Ag 0.010%
Intl Flavors & Fragrances 0.010%
Coca-Cola European Partners Plc 0.010%
Associated British Foods Plc 0.010%
Burberry Group Plc 0.010%
Symrise Ag 0.010%
Fmc Corp 0.010%
Henkel Ag & Co Kgaa 0.010%
Kikkoman Corp 0.010%
Novozymes A/S-B Shares 0.010%
Albemarle Corp 0.010%
Chr Hansen Holding A/S 0.010%
Coca-Cola Hbc Ag 0.010%
Newell Brands Inc 0.010%
Cabot Oil & Gas Corp 0.010%
Solvay Sa 0.010%
Croda International Plc 0.010%
Johnson Matthey Plc 0.010%
Arkema 0.010%
Sumitomo Chemical Co Ltd 0.010%
Sainsbury (J) Plc 0.010%
Evonik Industries Ag 0.010%
Kose Corp 0.010%
Jeronimo Martins 0.010%
Unilever Indonesia Tbk Pt 0.010%
Hindustan Unilever Ltd 0.016%

Download the fund's disclosure statement and portfolio holdings.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.