Funds
Select KiwiSaver Balanced Fund
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:
- Human Rights Violations
- Environmental Harm
- Animal Cruelty
- Weapons
- Fossil Fuels
- Social Harm
Companies of concern
Human Rights Violations
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Meta Platforms Inc-Class A 0.43%
Public Safety
Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.
META PLATFORMS INC-CLASS A Public Safety
Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.
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China Petroleum & Chemical-H 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
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Nestle SA-Reg 0.13%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
NESTLE SA-REG Human Rights Abuses
Nestle manufactures and sells food and beverages. The company has been criticised for exploiting local water resources for its bottled water production, which has forced underprivileged communities to pay a premium for their groundwater while alternatives have been exhausted. There have also been several allegations of labour conflicts and human rights violations in Nestle’s palm oil, coffee, fruits and seafood supply chains.
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Wells Fargo & Co 0.12%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
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Credit Suisse Group AG 0.11%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
CREDIT SUISSE GROUP AG Business Ethics
Credit Suisse provides investment banking services. It has faced regulatory and legal actions related to aiding tax evasion, money laundering, corporate espionage, fraud, and breach of trade secrets. It has also been involved in multiple lawsuits related to its governance.
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Rio Tinto PLC 0.10%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
RIO TINTO PLC Fossil Fuel Power Generation Human Rights Abuses
Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries. -
Glencore PLC 0.09%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
GLENCORE PLC Business Ethics Deforestation Environmental Damage Fossil Fuel Production
Glencore is a multinational commodity trading and mining company. Glencore has been repeatedly criticised for not having adequate policies in place to ensure that its palm oil suppliers in Southeast Asia do not engage in deforestation or other environmentally harmful practices. Glencore also operates mines in several countries, including Indonesia and the Democratic Republic of Congo, where the mining industry has been linked to deforestation and other environmental damage.
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Caterpillar Inc 0.08%
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
CATERPILLAR INC War & Conflict
Caterpillar, a manufacturer of heavy equipment, power solutions, and locomotives, has a history of supplying the Israeli military. In 2004, Human Rights Watch reported the use of Caterpillar D9 bulldozers in demolishing over 250 Palestinian homes in Gaza, resulting in Palestinian casualties. Subsequently, in 2017, the Israeli military acquired numerous Caterpillar heavy engineering vehicles through a significant deal. The sale was financed by the United States Government, but the deal itself was between the Israeli military and Caterpillar. Incidents involving Caterpillar equipment causing harm to Palestinians have persisted, with recent instances reported as of 2023.
These occurrences include the use of Caterpillar equipment in demolishing Palestinian homes in illegally occupied territories, constructing illegal settlements and their infrastructure on occupied land, as well as building the Separation Wall in the West Bank and the Gaza border wall. Evidence also suggests Caterpillar’s products have been used by third parties in other conflict-affected areas, including Myanmar and the Western Sahara. Caterpillar's continued supply to these conflict areas raises concerns about its complicity in the misuse of its products. -
Thermo Fisher Scientific Inc 0.07%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
THERMO FISHER SCIENTIFIC INC Human Rights Abuses
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.
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Motorola Solutions Inc 0.04%
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
MOTOROLA SOLUTIONS INC War & Conflict
Motorola is an American provider of communication products, video equipment, telecommunications equipment, software, systems, and services. Motorola Solutions and its subsidiary, Motorola Israel, have been accused of complicity in human rights violations due to its sale of communication products to the Israeli Ministry of Defence in the occupied Palestinian territories. Israeli settlements in occupied Palestinian territories are deemed illegal under international law and the United Nations Human Rights Council Report 2023 has identified Motorola as a company providing services supporting the maintenance and existence of these settlements. As of 2023, Motorola is the sole supplier of the 4G cellular network for the Israeli Military and provides their surveillance and security system, which research shows is being used for border surveillance in the occupied Palestinian territories.
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Rio Tinto Ltd 0.03%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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Credit Suisse New York 0.02%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
CREDIT SUISSE NEW YORK Business Ethics
Credit Suisse provides investment banking services. It has faced regulatory and legal actions related to aiding tax evasion, money laundering, corporate espionage, fraud, and breach of trade secrets. It has also been involved in multiple lawsuits related to its governance.
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Mtn Group Ltd 0.01%
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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Uber Technologies Inc 0.01%
Labour Rights Violations
Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.
UBER TECHNOLOGIES INC Labour Rights Violations
Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.
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Wells Fargo & Company 0.01%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
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Meta Platforms Inc-Class A 0.43%
Environmental Harm
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BHP Group Ltd 0.33%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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Archer-Daniels-Midland Co 0.14%
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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Bayer AG-Reg 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
GMOs
Where companies are involved in the development or release of GMO plants and seeds.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
BAYER AG-REG Animal Testing GMOs Highly Hazardous Pesticides
Bayer CropScience is a chemicals company engaged in the development, manufacture and sale of insecticides, rodenticides, fungicides and herbicides. Based on the revenue data from fiscal year 2022, Bayer CropScience derived an estimated 75% of its revenue from the production and/or distribution of pesticides, particularly those classified as highly hazardous. The company is also active in plant biotechnology and the development of genetically modified seeds, and states that it tests some of its products on animals.
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P G & E Corp 0.10%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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Glencore PLC 0.09%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
GLENCORE PLC Business Ethics Deforestation Environmental Damage Fossil Fuel Production
Glencore is a multinational commodity trading and mining company. Glencore has been repeatedly criticised for not having adequate policies in place to ensure that its palm oil suppliers in Southeast Asia do not engage in deforestation or other environmentally harmful practices. Glencore also operates mines in several countries, including Indonesia and the Democratic Republic of Congo, where the mining industry has been linked to deforestation and other environmental damage.
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Chemours Co/The 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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Bunge Ltd 0.04%
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
BUNGE LTD Deforestation Environmental Damage
Bunge is a global agribusiness and food company, and one of the world’s largest soybean traders. Bunge has been repeatedly criticised for not doing enough to ensure that its soybean and palm oil suppliers do not engage in deforestation or other environmentally harmful practices. Bunge has also been accused of buying beef from suppliers that engage in illegal deforestation and land grabbing.
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Nutrien Ltd 0.04%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
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Vale SA-Sp Adr 0.03%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
VALE SA-SP ADR Environmental Damage Fossil Fuel Production
Vale is the largest producer of iron ore and nickel in the world. Evidence shows Vale’s failure to manage risks from waste storage has resulted in two major disasters in Iron Ore Tailing Dams in Brazil. Both incidents have resulted in significant environmental pollution, the death of hundreds of employees, and severe impacts on local communities downstream. The company is also involved in the production of fossil fuels through mining thermal coal in Mozambique.
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Corteva Inc 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
GMOs
Where companies are involved in the development or release of GMO plants and seeds.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
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Freeport-Mcmoran Inc 0.01%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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BHP Group Ltd 0.33%
Animal Cruelty
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Colgate-Palmolive Co 0.31%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Procter & Gamble Co/The 0.24%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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L'Oreal 0.21%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
L'OREAL Animal Testing
L'Oréal is a personal care company and cosmetics company concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.
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Ecolab Inc 0.18%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Eni Spa 0.18%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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Kimberly-Clark Corp 0.15%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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LVMH Moet Hennessy Louis Vui 0.14%
Animal Welfare Issues
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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Bayer AG-Reg 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
GMOs
Where companies are involved in the development or release of GMO plants and seeds.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
BAYER AG-REG Animal Testing GMOs Highly Hazardous Pesticides
Bayer CropScience is a chemicals company engaged in the development, manufacture and sale of insecticides, rodenticides, fungicides and herbicides. Based on the revenue data from fiscal year 2022, Bayer CropScience derived an estimated 75% of its revenue from the production and/or distribution of pesticides, particularly those classified as highly hazardous. The company is also active in plant biotechnology and the development of genetically modified seeds, and states that it tests some of its products on animals.
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China Petroleum & Chemical-H 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
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Burberry Group PLC 0.06%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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Chemours Co/The 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
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Philip Morris Interna-Cdi 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Tobacco
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
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Reliance Industries Ltd 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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Sherwin-Williams Co/The 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Hermes International 0.04%
Animal Welfare Issues
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
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Nutrien Ltd 0.04%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
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Shin-Etsu Chemical Co Ltd 0.04%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Kering 0.03%
Animal Welfare Issues
Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.
Fur & Speciality Leather
Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).
KERING Animal Welfare Issues Fur & Speciality Leather
Kering specialises in luxury goods. Evidence shows the company makes several products, including bags, and watch straps from exotic leather, such as crocodile, python and ostrich leather and states that most of its houses do not use fur.
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Air Liquide SA 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Albemarle Corp 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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British American Tobacco PLC 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Tobacco
Where companies are involved in the production or retail of tobacco, or tobacco-related products and services.
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Corteva Inc 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
GMOs
Where companies are involved in the development or release of GMO plants and seeds.
Highly Hazardous Pesticides
Where companies are involved in the production or distribution of highly hazardous pesticides, according to the PAN International List of Highly Hazardous Pesticides.
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Rentokil Initial PLC 0.02%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Celanese Corp 0.01%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Mosaic Co/The 0.01%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
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Colgate-Palmolive Co 0.31%
Weapons
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Airbus Se 0.06%
Controversial Weapons
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Nuclear Weapons
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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Safran SA 0.05%
Controversial Weapons
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Nuclear Weapons
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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Bae Systems PLC 0.03%
Controversial Weapons
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Firearms
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Nuclear Weapons
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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Daikin Industries Ltd 0.03%
Controversial Weapons
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
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Transdigm Group Inc 0.02%
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
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Boeing Co/The 0.01%
Controversial Weapons
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Military Weapons
Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.
Nuclear Weapons
Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.
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Airbus Se 0.06%
Fossil Fuels
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Contact Energy Ltd 1.21%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
CONTACT ENERGY LTD Fossil Fuel Power Generation
Contact Energy is one of Aotearoa New Zealand’s largest electric utilities companies. Contact operates three thermal power stations that employ gas and diesel. In FY2023, 7% of the energy Contact generated came from thermal generation. However, Contact has announced plans for further investment in renewable generation. This includes NZD 1.2 billion in geothermal power, by constructing a new station and expanding capacity at an existing station, along with early developments in wind and solar generation. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
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Genesis Energy Ltd 0.63%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
GENESIS ENERGY LTD Fossil Fuel Power Generation
Genesis Energy is engaged in energy generation, trading and selling of electricity, and owns a portfolio of fossil fuel and renewable generation assets across New Zealand. Evidence shows that thermal generation from gas represents a significant portion of the company's total power generation (from the Huntly power station), and that oil and gas power revenues represent approximately 35% of the company's total revenue.
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BHP Group Ltd 0.33%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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Iberdrola SA 0.33%
1.5°C
This company is on a 1.5°C pathway
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
IBERDROLA SA Fossil Fuel Power Generation
Iberdrola is a Spanish energy company, and one of the largest utilities in the world with electric utility operations in nearly 40 countries. Evidence shows that energy generated from oil and gas accounts for 15% of the company’s revenues. However, the company currently generates 80% of their electricity from renewable sources and have committed to achieving net-zero emissions by 2040. The company reports a total investment of EUR €150 billion is planned for this decade to enable its energy transition. Therefore, the company is considered to be on a climate change pathway aligned with 1.5°C of global temperature rise.
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National Grid PLC 0.30%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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Eni Spa 0.18%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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Channel Infrastructure NZ Lt 0.13%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
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China Petroleum & Chemical-H 0.13%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
War & Conflict
Where a company is complicit in its products or services enabling violations of the Geneva Convention and infringement of the rights of individuals in war or conflict situations.
-
Valero Energy Corp 0.13%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Suncor Energy Inc 0.12%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Fairfax Financial Hldgs Ltd 0.11%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
P G & E Corp 0.10%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Rio Tinto PLC 0.10%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
RIO TINTO PLC Fossil Fuel Power Generation Human Rights Abuses
Rio Tinto is a global diversified miner, predominantly in iron ore but also copper, aluminium, diamonds, gold, and industrial minerals. Evidence shows that in 2020, Rio Tinto destroyed Aboriginal 46,000-year-old sacred sites at an iron mine in Western Australia, leaving a considerable impact on the traditional owners from the loss of their heritage. There is also a pattern of evidence showing harmful community-related incidents involving Rio Tinto in West Papua, South Africa, Canada, the United States and Serbia.
Rio Tinto is also involved in fossil fuel power generation, as the company derives revenue from coal power plants through multiple associates and subsidiaries. -
Glencore PLC 0.09%
Business Ethics
Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.
Deforestation
Where companies are involved in, or directly linked to through their supply chain, the act of deforestation or clearance of forest that is then converted to a non-forest use.
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
GLENCORE PLC Business Ethics Deforestation Environmental Damage Fossil Fuel Production
Glencore is a multinational commodity trading and mining company. Glencore has been repeatedly criticised for not having adequate policies in place to ensure that its palm oil suppliers in Southeast Asia do not engage in deforestation or other environmentally harmful practices. Glencore also operates mines in several countries, including Indonesia and the Democratic Republic of Congo, where the mining industry has been linked to deforestation and other environmental damage.
-
Petroleo Brasileiro-Spon Adr 0.09%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
PETROLEO BRASILEIRO-SPON ADR Fossil Fuel Production
Petroleo Brasileiro SA is headquartered in Brazil. Between 2021 and 2023, the company spent an average of USD $654 million per year on exploration activities alone. After generating 865 million barrels of oil in 2023, the company plans to expand their operations an additional 9,570 million barrels in the short term (1-7 years). The expansion is proposed in Brazil. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 61.6%.
-
Santos Ltd 0.08%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Cenovus Energy Inc 0.06%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
E.On Se 0.06%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Total SA 0.06%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Phillips 66 0.05%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Reliance Industries Ltd 0.05%
Animal Testing
Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Woodside Energy Group Ltd 0.05%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
BP PLC 0.04%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
BP PLC Fossil Fuel Production
BP, headquartered in the UK, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company has as reportable segments: gas & low carbon energy, oil production & operations, customers & products, and Rosneft. Additionally, BP plc owns and operates crude oil and natural gas pipelines, processing facilities and NGLs extraction business. Between 2021 and 2023, the company spent an average of USD $858 million per year on exploration activities alone. After generating 1,060 million barrels of oil in 2023, the company plans to expand their operations an additional 2,550 million barrels in the short term (1-7 years).
The expansion is proposed to extend far and wide across the globe, including in Indonesia, India, Azerbaijan, UAE, Egypt, Mauritania, Brazil, Argentina, Bolivia, Trinidad and Tobago, USA and the UK. Evidence shows the company is far from being on a climate change pathway aligned with 1.5°C of global temperature rise, as the company’s planned short-term expansion overshoots the IEA Net-Zero Emissions Scenario by 49.8%.
-
Rio Tinto Ltd 0.03%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Human Rights Abuses
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
-
Vale SA-Sp Adr 0.03%
Environmental Damage
Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
VALE SA-SP ADR Environmental Damage Fossil Fuel Production
Vale is the largest producer of iron ore and nickel in the world. Evidence shows Vale’s failure to manage risks from waste storage has resulted in two major disasters in Iron Ore Tailing Dams in Brazil. Both incidents have resulted in significant environmental pollution, the death of hundreds of employees, and severe impacts on local communities downstream. The company is also involved in the production of fossil fuels through mining thermal coal in Mozambique.
-
Engie 0.02%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Hess Corp 0.02%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Sempra Energy 0.02%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Tc Energy Corp 0.02%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
TC ENERGY CORP Fossil Fuel Production
Headquartered in Canada, TC Energy operates natural gas, oil, and power generation assets in Canada and the USA. The company operates nearly 100,000km of oil and gas pipelines and currently has 2,624km of pipelines under development. Projects include the Coastal GasLink.
-
Aes Corp 0.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Canadian Natural Resources 0.01%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Conocophillips 0.01%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Delta Air Lines Inc 0.01%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Fairfax Finl Hldgs Ltd 0.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Mitsui & Co Ltd 0.01%
Fossil Fuel Production
Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.
-
Contact Energy Ltd 1.21%
1.5°C
This data is compiled by Mindful Money from the fund information and portfolios
that each KiwiSaver fund has
filed with the Disclose register to 30th Sept. 2023 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
Aims to provide a medium level of capital growth over the medium to long term (at least 5 years). The fund invests similar proportions in income and growth assets.
| Value | $2.97M NZD |
| Period of data report | 31st Dec. 2023 |
| Members | 79 |
| Fund started | 24th Nov. 2020 |
| Total annual fund fees | 1.23% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.93% |
| Other management and administration charges | 0.3% |
| Total other charges | 36.0 |
| Total other charges currency | NZD |
Key Personnel
|
Stuart Kenneth Reginald Millar |
Currently: Chief Investment Officer - Smartshares (4 years, 7 months) |
|
Andrew Kelleher |
Currently: Director - JMI Wealth, Select Wealth and Clarity Funds Management (15 years, 8 months) |
|
Simon Reichenbach |
Currently: Senior Investment Executive - JMI Wealth Limited (4 years, 3 months) |
|
Michael Gray |
Currently: Investment Strategist - JMI Wealth Limited (0 years, 9 months) |
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31st Dec. 2023.
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 |
|---|---|---|
| 2023 | -2.79% | -3.55% |
| 2022 | 0.71% | 1.74% |
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 KiwiSaver fund has filed with Disclose register to 31st Dec. 2023.
Top 10 Investments
-
Wellington Global Stewards Fund
Ireland International Equities14.48% -
Mortgage Passthrough Tba
United States Int Fixed Interest AA+7.22% -
Milford Trans Tasman Bond Fund
New Zealand NZ Fixed Interest5.17% -
ANZ NZD Current Account
New Zealand Cash and Equivalents AA-4.44% -
Ishares Msci Em Imi ESG Screened Ucits ETF USD
Ireland International Equities1.48% -
Spark New Zealand Ltd
New Zealand Australasian Equities1.33% -
CSL Ltd
Australia Australasian Equities1.24% -
Cash At Bank
New Zealand Cash and Equivalents1.22% -
Contact Energy Ltd
New Zealand Australasian Equities1.17% -
Meridian Energy Ltd
New Zealand Australasian Equities1.15%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 5.0% | 3.646467% |
| New Zealand Fixed Interest | 22.0% | 22.58733% |
| International Fixed Interest | 13.0% | 13.84307% |
| Australasian Equities | 22.0% | 21.82641% |
| International Equities | 33.0% | 35.23665% |
| Listed Properties | 5.0% | 2.860084% |
| 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 KiwiSaver fund has filed with Disclose register to 31st Dec. 2023.