Summer New Zealand Fixed Interest

In their own words: "The fund invests in selected New Zealand dollar denominated fixed interest assets. We aim to achieve positive long-term returns. These kinds of investments will typically have low levels of movement up and down in value."

Not Mindful
Type: Defensive fund
Past Returns: *3.38%

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

Annual Fees: 0.9%

Annual fees, including membership and % management fee.

A summary of this fund and it's details.

Number FND1189
Name Summer New Zealand Fixed Interest
Risk profile Defensive fund
Description The fund invests in selected New Zealand dollar denominated fixed interest assets. We aim to achieve positive long-term returns. These kinds of investments will typically have low levels of movement up and down in value.
Value $9.0M NZD
Members 576
Market index description S&P/NZX Investment Grade Corporate Bond index
Disclosure Statement Period Tue Dec. 31st 2019
Fund started Mon Sept. 19th 2016
Three-year average return *3.38%
Market index past year return 5.32%
Past year return net charges and tax 3.28%
Past year return net of charges gross of tax 4.57%
Market index return since fund started 4.31%
Return since fund started net 2.57%
Total annual fund fees 0.9%
Total performance based fees 0.0%
Manager's basic fee 0.9%
Administration charges 0.0%
Total other charges 36.0
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 2.26% 3.57%
2018 2.15% 3.2%

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 Transactional Bank Account
    New Zealand Cash and Equivalents AA-
    8.29%
  • New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50%
    New Zealand NZ Fixed Interest AA+
    4.17%
  • New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75%
    New Zealand NZ Fixed Interest AA+
    4.12%
  • New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50%
    New Zealand NZ Fixed Interest AA+
    2.89%
  • Bank Of New Zealand Subordinated Note 17/12/2025 5.314%
    New Zealand NZ Fixed Interest BBB+
    2.71%
  • Housing New Zealand 3.42% 18/10/2028
    New Zealand NZ Fixed Interest AA+
    2.65%
  • Mercury NZ Limited 11/02/2020 8.21%
    New Zealand NZ Fixed Interest BBB+
    2.46%
  • Vector Ltd 14/03/2024 4.996%
    New Zealand NZ Fixed Interest BBB
    2.44%
  • Housing New Zealand 3.36% 12/06/2025
    New Zealand NZ Fixed Interest AA+
    2.34%
  • Port Of Tauranga Limited 4.792% 29/01/2021
    New Zealand NZ Fixed Interest BBB+
    2.23%

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 5.0% 11.12%
New Zealand Fixed Interest 90.0% 88.76%
International Fixed Interest 5.0% 0.0%
Australasian Equities 0.0% 0.0%
International Equities 0.0% 0.0%
Listed Properties 0.0% 0.0%
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

  • Craig Alexander

    Currently: Co-Head of Funds Management,Forsyth Barr Limited (6 years, 6 months)
    Previously: Head of Fixed Interest,Tower Investments (5 years, 2 months)

  • Jason Lindsay

    Currently: Co-Head of Funds Management,Forsyth Barr Limited (0 years, 3 months)
    Previously: Portfolio Manager Australasian Listed Infrastructure, ACC (6 years, 2 months)

  • Kevin Stirrat

    Currently: Director/Strategy, Wealth Management Research,Forsyth Barr Limited (0 years, 5 months)
    Previously: Head of Investment Strategy, Forsyth Barr Limited (13 years, 11 months)

  • Martin Hawes

    Currently: Chair, Summer Investment Committee (3 years, 4 months)
    Previously: Authorised Financial Adviser (current) (8 years, 6 months)

  • Neil Paviour-Smith

    Currently: Director (11 years, 10 months)
    Previously: Managing Director at Forsyth Barr Limited (current) (19 years, 0 months)

  • Rob Mercer

    Currently: Director/Equities, Wealth Management Research,Forsyth Barr Limited (0 years, 5 months)
    Previously: Head of Private Wealth Research, Forsyth Barr Limited (7 years, 2 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
    Does this fund say it excludes this?
    Actual holdings
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.00%
  • Animal Testing:
    0.00%
  • Fossil Fuels:
    0.00%
  • Gambling:
    1.25%
  • GMOs:
    0.00%
  • Human Rights & Environmental Violations:
    0.00%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.00%

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:

Gambling

Sky City Entertainment Group Ltd 28/09/2022 4.65% 1.25%

Download the fund's disclosure statement and portfolio holdings.

Latest news

You should be prudent about your investment.

Investing involves risk. The value of investments can go down, as well as going up. You might lose some of your capital invested. The information provided on this website is not a recommendation to buy, sell or hold any financial products. Nothing on this page is financial advice for the purposes of the Financial Advisers Act 2008 and any associated regulations.

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.