Summer Global Fixed Interest

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

Not Mindful
Type: Defensive fund
Past Returns: *2.26%

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 FND1191
Name Summer Global Fixed Interest
Risk profile Defensive fund
Description The fund invests in selected international fixed interest assets. We aim to achieve positive long-term returns. These kinds of investments will typically have low to moderate levels of movement up and down in value.
Value $870k NZD
Members 147
Market index description Bloomberg Barclays Global- Aggregate Total Return Index (NZD hedged)
Disclosure Statement Period Tue Dec. 31st 2019
Fund started Mon Sept. 19th 2016
Three-year average return *2.26%
Market index past year return 7.50%
Past year return net charges and tax 5.09%
Past year return net of charges gross of tax 7.87%
Market index return since fund started 3.38%
Return since fund started net 2.25%
Total annual fund fees 0.9%
Total performance based fees 0.0%
Manager's basic fee 0.46%
Administration charges 0.44%
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% 2.63%
2018 2.15% 1.9%

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-
    3.61%
  • BNP Paribas Account (USD)
    United States Cash and Equivalents A+
    2.08%
  • Government Of Japan 0.00% 10/01/2020
    Japan Int Fixed Interest A1
    1.77%
  • Government Of Japan 1.20% 20/09/2035
    Japan Int Fixed Interest A+
    1.52%
  • Federal Home Loan Banks 21/01/2020
    United States Int Fixed Interest A1+
    1.4%
  • United States Treasury 15/01/25 0.25% Ilb
    United States Int Fixed Interest AA+
    1.19%
  • Kingdom Of Spain (Government) 0.60% 31/10/2029
    Spain Int Fixed Interest UNRATED
    1.06%
  • Government Of Japan 0.70% 20/12/2048
    Japan Int Fixed Interest A+
    1.05%
  • Nykredit Realkredit A/S 1.0% 01/10/2050
    Denmark Int Fixed Interest AAA
    0.97%
  • Italy Republic Of Government Bond 3.0% 01/08/2029
    Italy Int Fixed Interest BBB
    0.84%

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% 6.0%
New Zealand Fixed Interest 15.0% 4.25%
International Fixed Interest 80.0% 89.75%
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:
    0.07%
  • Animal Testing:
    1.33%
  • Fossil Fuels:
    1.25%
  • Gambling:
    0.25%
  • GMOs:
    0.20%
  • Human Rights & Environmental Violations:
    0.00%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.07%

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

Petrobras Global Finance Sr Unsec Regs 0.30%
Nextera Energy Capital Sr Unsec 0.26%
Eqt Corp Sr Unsec 0.06%
Enbridge Inc Sr Unsec 0.07%
Dominion Energy Gas Hldg Sr Unsec 0.13%
Petrobras Global Finance Sr Unsec 0.02%
Energy Transfer Operatng Sr Unsec 0.07%

Weapons

United Technologies Corp Sr Unsec 0.07%

Gambling

Sands China Ltd Sr Unsec 0.15%
Sky City Entertainment Group Ltd 28/09/2022 4.65% 0.10%

Alcohol

Bacardi Ltd Nt 144A 0.07%

GMOs

Syngenta Finance Nv Sr Unsec 144A 0.20%

Animal Testing

Reckitt Benckiser Tsy Sr Unsec 144A 0.400%
Tesco Prop Fin 6 Plc 0.390%
Syngenta Finance Nv Sr Unsec 144A 0.200%
Bayer US Finance Ii Llc Sr Unsec 144A 0.140%
Danone Sa Sr Unsec 144A 0.130%
General Mills Inc Sr Unsec 0.070%

Download the fund's disclosure statement and portfolio holdings.

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