Fisher Funds Two Conservative Fund

In their own words: "The fund aims to offer moderate protection for your savings while providing a modest level of return over the medium term. Invested like the Cash Enhanced Fund, with a bit more invested in growth assets"

Not Mindful
Type: Conservative fund
Past Returns: 4.36%

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

Annual Fees: 0.93%

Annual fees, including membership and % management fee.

A summary of this fund and it's details.

Number FND1083
Name Fisher Funds Two Conservative Fund
Risk profile Conservative fund
Description The fund aims to offer moderate protection for your savings while providing a modest level of return over the medium term. Invested like the Cash Enhanced Fund, with a bit more invested in growth assets
Value $160M NZD
Members 6,742
Market index description The market index return reflects a composite of benchmark index returns, weighted for the fund’s target asset allocation. The benchmark indices used for each asset class are defined in the Statement of Investment Policy and Objectives (SIPO)
Disclosure Statement Period Tue Dec. 31st 2019
Fund started Mon Oct. 1st 2007
Three-year average return 4.36%
Market index past year return 11.42%
Past year return net charges and tax 7.93%
Past year return net of charges gross of tax 9.27%
Market index return since fund started 6.66%
Return since fund started net 4.90%
Total annual fund fees 0.93%
Total performance based fees 0.0%
Manager's basic fee 0.84%
Administration charges 0.09%
Total other charges 28.44
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 4.40% 5.14%
2018 3.80% 3.89%
2017 4.16% 4.05%
2016 3.52% 3.79%
2015 8.10% 7.19%
2014 3.88% 4.24%
2013 6.92% 7.12%
2012 3.16% 2.98%
2011 5.06% 4.04%
2010 10.26% 13.14%

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:

  • ANZ 10 A/C - Current Accounts
    New Zealand Cash and Equivalents NA
    2.53%
  • Bayfair Shopping Centre - Retail
    New Zealand Unlisted Property NA
    2.13%
  • Government Of New Zealand 2.0% 20-Sep-2025
    New Zealand NZ Fixed Interest AAA
    1.59%
  • Government Of New Zealand 3.5% 14-Apr-2033
    New Zealand NZ Fixed Interest AAA
    1.44%
  • Government Of New Zealand 4.5% 15-Apr-2027
    New Zealand NZ Fixed Interest AAA
    1.31%
  • Government Of New Zealand 2.5% 20-Sep-2040
    New Zealand NZ Fixed Interest AAA
    1.22%
  • Westpac New Zealand Ltd. Frn 14-Feb-2022
    New Zealand NZ Fixed Interest AA-
    1.18%
  • Kfw Bankengruppe 3.75% 29-May-2020
    New Zealand NZ Fixed Interest AAA
    1.13%
  • Kiwibank Limited 14/11/2022 Frn 14/11/2022
    New Zealand NZ Fixed Interest AA
    1.11%
  • Rabobank Nederland Frn 22-Mar-2021
    New Zealand NZ Fixed Interest AA3
    1.1%

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 19.5% 14.29%
New Zealand Fixed Interest 18.0% 41.54%
International Fixed Interest 35.0% 18.98%
Australasian Equities 5.5% 7.52%
International Equities 12.0% 11.83%
Listed Properties 5.0% 1.06%
Unlisted Properties 5.0% 4.78%
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

  • Robbie Urquhart

    Currently: Senior Portfolio Manager, Australian Equities (1 years, 7 months)
    Previously: Portfolio Manager / Principal, Trafalgar Copley Limited (11 years, 0 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:
    0.31%
  • Animal Testing:
    0.69%
  • Fossil Fuels:
    0.67%
  • Gambling:
    0.09%
  • GMOs:
    0.04%
  • Human Rights & Environmental Violations:
    0.23%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.01%

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

Kinder Morgan Inc Class P 0.20%
Chevron Corporation 0.05%
Total Sa 0.04%
Exxon Mobil Corporation 0.04%
Bp P.L.C. 0.04%
Black Hills Corp Sr Unsec 0.03%
Royal Dutch Shell Plc Class A 0.03%
Royal Dutch Shell Plc Class B 0.02%
Nextera Energy Capital Sr Unsec 0.02%
Dominion Energy Gas Hldg Sr Unsec 0.02%
Energy Transfer Operatng Sr Unsec 0.01%
Conocophillips 0.02%
Suncor Energy Inc. 0.02%
Lyondellbasell Industries Nv 0.02%
Canadian Natural Resources Limited 0.01%
Enbridge Inc Sr Unsec 0.01%
Valero Energy Corporation 0.01%
Equinor Asa 0.01%
Repsol Sa 0.01%
Omv Ag 0.01%
Inpex Corporation 0.01%
Hess Corporation 0.01%
Occidental Petroleum Corporation 0.01%

Weapons

Harris Corporation Sr Unsec 0.01%

Gambling

Aristocrat Leisure Limited 0.05%
Las Vegas Sands Corp. 0.01%
Sands China Ltd. 0.01%
Galaxy Entertainment Group Limited 0.01%
Sands China Ltd Sr Unsec 0.01%

Alcohol

Anheuser-Busch Inbev Worldwide, Inc. 5.875% 15-Jun-2035 0.15%
Delegat Group Limited 0.10%
Diageo Plc 0.02%
Anheuser-Busch Inbev Sa/Nv 0.01%
Asahi Group Holdings,Ltd. 0.01%
Diageo Finance Plc Co Gtd Sr Unsec 0.01%
Constellation Brands, Inc. Class A 0.01%

GMOs

Basf Se 0.02%
Dupont De Nemours, Inc. 0.02%

Human Rights & Environmental Violations

Johnson & Johnson 0.06%
Chevron Corporation 0.05%
Nestle S.A. 0.04%
Royal Dutch Shell Plc Class A 0.03%
Royal Dutch Shell Plc Class B 0.02%
Duke Energy Corp Sr Unsec 144A 0.01%
Sempra Energy Sr Unsec 0.01%
Sempra Energy 0.01%

Animal Testing

Ecolab Inc. 0.060%
Johnson & Johnson 0.060%
Procter & Gamble Company 0.050%
Chevron Corporation 0.050%
Nestle S.A. 0.040%
Unilever Nv 0.030%
Glaxosmithkline Plc 0.030%
Royal Dutch Shell Plc Class A 0.030%
General Mills Inc Sr Unsec 0.030%
Basf Se 0.020%
Royal Dutch Shell Plc Class B 0.020%
Kraft Heinz Foods Co Sr Unsec 0.020%
Reckitt Benckiser Group Plc 0.020%
Kimberly-Clark Corporation 0.020%
Tesco Property Fin 3 Plc Mtge Backed 0.020%
Reckitt Benckiser Tsy Sr Unsec 144A 0.010%
Bayer US Finance Ii Llc Sr Unsec 144A 0.010%
Danone Sa 0.020%
General Mills, Inc. 0.010%
Ppg Industries, Inc. 0.010%
Danone Sa Sr Unsec 144A 0.010%
Walgreens Boots Alliance Inc 0.010%
Solvay Sa 0.010%
Colgate-Palmolive Company 0.010%
Tesco Property Fin 4 Plc Mtge Backed 0.010%
Sumitomo Chemical Co., Ltd. 0.010%
Tesco Plc Sr Unsecured Emtn Regs 0.010%

Download the fund's disclosure statement and portfolio holdings.

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