ASB Conservative Fund

In their own words: "The Conservative Fund aims to provide modest total returns with a negative return expected less than one in every 25 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 Conservative Fund invests in income and growth assets with a target investment mix of 80% income assets and 20% growth assets."

Not Mindful
Type: Conservative fund
Past Returns: 4.13%

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

Annual Fees: 0.39%

Annual fees, including membership and % management fee.

A summary of this fund and it's details.

Number FND529
Name ASB Conservative Fund
Risk profile Conservative fund
Description The Conservative Fund aims to provide modest total returns with a negative return expected less than one in every 25 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 Conservative Fund invests in income and growth assets with a target investment mix of 80% income assets and 20% growth assets.
Value $3.9B NZD
Members 229,377
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 Tue Dec. 31st 2019
Fund started Tue Oct. 2nd 2007
Three-year average return 4.13%
Market index past year return 9.89%
Past year return net charges and tax 7.28%
Past year return net of charges gross of tax 8.5%
Market index return since fund started 6.16%
Return since fund started net 4.44%
Total annual fund fees 0.39%
Total performance based fees 0.0%
Manager's basic fee 0.39%
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 4.40% 4.84%
2018 3.80% 3.58%
2017 4.16% 3.96%
2016 3.52% 3.46%
2015 8.10% 7.14%
2014 3.88% 3.33%
2013 6.92% 5.46%
2012 3.16% 2.95%
2011 5.06% 4.04%
2010 10.26% 8.5%

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:

  • Westpac Money Market Deposit Account NZD
    New Zealand Cash and Equivalents A-1+
    8.28%
  • Certificate Of Deposit Rcd ASB Bank 23/03/2020
    New Zealand Cash and Equivalents A-1+
    2.49%
  • Certificate Of Deposit Rcd ASB Bank 24/02/2020
    New Zealand Cash and Equivalents A-1+
    2.35%
  • BNZ Rolling Deposit 32 Day Notice Account NZD
    New Zealand Cash and Equivalents A-1+
    2.12%
  • New Zealand Government 6 15/05/2021
    New Zealand NZ Fixed Interest AA+
    1.62%
  • ASB Bank Account NZD
    New Zealand Cash and Equivalents A-1+
    1.56%
  • New Zealand Government 5.5 15/04/2023
    New Zealand NZ Fixed Interest AA+
    1.41%
  • New Zealand Government 2.75 15/04/2025
    New Zealand NZ Fixed Interest AA+
    1.21%
  • Fisher & Paykel Healthcare Corporation Ltd
    New Zealand Australasian Equities
    1.07%
  • New Zealand Government 3 20/04/2029
    New Zealand NZ Fixed Interest AA+
    1.06%

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 15.0% 19.77%
New Zealand Fixed Interest 22.0% 23.1%
International Fixed Interest 43.0% 36.97%
Australasian Equities 9.0% 16.21%
International Equities 11.0% 3.95%
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

  • Adam Boyd

    Currently: Investment Committee member (3 years, 7 months)
    Previously: Executive GM Private Banking, Wealth & Insurance, ASB Bank (current position) (3 years, 7 months)

  • Graeme Edwards (Not Named In Previous Fund Update)

    Currently: Investment Committee Chairman (0 years, 2 months)
    Previously: Investment Committee member (8 years, 0 months)

  • John Smith

    Currently: Investment Committee member (8 years, 7 months)
    Previously: Head of Asset Management; and Acting General Manager Private Banking, Wealth & Insurance Product, ASB Bank (current position) (7 years, 7 months)

  • Jonathan Beale

    Currently: Investment Committee member (5 years, 4 months)
    Previously: General Manager Wealth & Insurance Distribution, ASB Bank (current position) (0 years, 2 months)

  • Nigel Annett

    Currently: Investment Committee member (5 years, 9 months)
    Previously: Executive GM Corporate Banking, ASB Bank (current position) (1 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
    Is it excluded?
    Portfolio analysis
  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.18%
  • Animal Testing:
    0.49%
  • Fossil Fuels:
    1.33%
  • Gambling:
    0.14%
  • GMOs:
    0.08%
  • Human Rights & Environmental Violations:
    0.58%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.00%
  • Weapons:
    0.10%

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 0.38%
Woodside Petroleum Limited 0.11%
Origin Energy Ltd 0.05%
Santos Ltd 0.05%
Apa Group 0.05%
South32 Ltd 0.05%
Oil Search Limited 0.03%
Exxon Mobil Corporation 0.03%
Caltex Australia Ltd 0.02%
Chevron Corp 0.02%
Total Capital International Sa 2.875 19/11/2025 0.01%
Beach Energy Ltd 0.01%
Bp Plc 0.01%
Petroleos Mexicanos 6.875 04/08/2026 0.01%
Royal Dutch Shell Plc 'A' Ord 0.01%
Total Sa 0.01%
Cnooc Nexen Finance 2014 Ulc 4.25 30/04/2024 0.01%
Petroleos Mexicanos 6.5 13/03/2027 0.01%
Nextera Energy Inc 0.01%
Royal Dutch Shell Plc-B Shs 0.01%
Petroleos Mexicanos 6.75 21/09/2047 0.01%
BHP Billiton Finance Usa Ltd 5 30/09/2043 0.01%
Washington H. Soul Pattinson 0.01%
Bp Capital Markets Plc 3.814 10/02/2024 0.01%
Apache Corp 4.75 15/04/2043 0.01%
Exxon Mobil Corp 2.222 01/03/2021 0.01%
Energy Transfer Partners Lp 4.95 15/06/2028 0.01%
Shell International Finance Bv 4.375 11/05/2045 0.01%
Whitehaven Coal Ltd 0.01%
Viva Energy Group Ltd 0.01%
Conocophillips 6.5 01/02/2039 0.01%
Petroleos Mexicanos 3.75 21/02/2024 0.01%
Ecopetrol Sa 5.875 18/09/2023 0.01%
Enbridge Inc 0.01%
Energy Transfer Operating Lp 6.25 15/04/2049 0.01%
Dominion Energy Incorporated 0.01%
Mplx Lp 4.125 01/03/2027 0.01%
Chevron Corp 2.954 16/05/2026 0.01%
Ecopetrol Sa 5.875 28/05/2045 0.01%
Conocophillips 0.01%
Omv Ag 3.5 27/09/2027 0.01%
Kinder Morgan Energy Partners Lp 3.95 01/09/2022 0.01%
Concho Resources Inc 4.3 15/08/2028 0.01%
Mplx Lp 4.5 15/04/2038 0.01%
Chevron Corp 3.191 24/06/2023 0.01%
Engie 3 01/02/2023 0.01%
Bp Capital Markets Plc 1.637 26/06/2029 0.01%
Marathon Petroleum Corp 3.4 15/12/2020 0.01%
Shell International Finance Bv 4.125 11/05/2035 0.01%
Gazprom Oao Via Gaz Capital Sa 3.6 26/02/2021 0.01%
Occidental Petroleum Corp 3.4 15/04/2026 0.01%
Eog Resources Inc 3.9 01/04/2035 0.01%
Kinder Morgan Energy Partners Lp 5 15/08/2042 0.01%
Occidental Petroleum Corp 6.6 15/03/2046 0.01%
Petroleos Mexicanos 6.35 12/02/2048 0.01%
Sasol Financing Usa Llc 5.875 27/03/2024 0.01%
Statoil Asa 3.7 01/03/2024 0.01%
Enbridge Inc 5.5 01/12/2046 0.01%
Canadian Natural Resources Ltd 3.85 01/06/2027 0.01%
Energy Transfer Lp 5.2 01/02/2022 0.01%
Bp Capital Markets America Inc 3.224 14/04/2024 0.01%
Exxon Mobil Corp 3.176 15/03/2024 0.01%
Suncor Energy Inc 0.01%

Weapons

The Boeing Company 0.02%
United Technologies Corp 0.01%
Boeing Co/The 6.875 15/03/2039 0.01%
United Technologies Corp 4.625 16/11/2048 0.01%
Precision Castparts Corp 2.5 15/01/2023 0.01%
United Technologies Corp 4.125 16/11/2028 0.01%
Embraer Netherlands Finance Bv 5.05 15/06/2025 0.01%
Raytheon Company 0.01%
United Technologies Corp 3.1 01/06/2022 0.01%

Gambling

Aristocrat Leisure Ltd 0.07%
Tabcorp Holdings Ltd 0.03%
Crown Resorts Ltd 0.02%
The Star Entertainment Group Ltd 0.01%
South Africa Government International Bd 5.875 16/09/2025 0.01%

Alcohol

Treasury Wine Estates Ltd 0.05%
Lvmh Moet Hennessy Vuitton ( Se ) 0.01%
Anheuser-Busch Cos Llc / Anheuser-Busch 4.7 01/02/2036 0.01%
Anheuser-Busch Inbev Worldwide Inc 5.8 23/01/2059 0.01%
Diageo Plc 0.01%
Anheuser-Busch Cos Llc / Anheuser-Busch 4.9 01/02/2046 0.01%
Metcash Ltd 0.01%
Anheuser-Busch Inbev Worldwide Inc 4.75 23/01/2029 0.01%
Anheuser-Busch Inbev Sa/Nv 0.01%
Graincorp Ltd 0.01%
Anheuser-Busch Inbev Sa/Nv 1.5 17/03/2025 0.01%
Anheuser-Busch Inbev Sa/Nv 0.8 20/04/2023 0.01%
Anheuser-Busch Inbev Worldwide Inc 5.55 23/01/2049 0.01%
Anheuser-Busch Inbev Worldwide Inc 5.45 23/01/2039 0.01%

GMOs

Novartis Ag-Reg 0.02%
Dowdupont Inc 5.319 15/11/2038 0.01%
Novartis Capital Corp 3.0 20/11/2025 0.01%
Bayer Ag-Reg 0.01%
Basf Se 0.01%
Bayer Capital Corp Bv 2.125 15/12/2029 0.01%
Dowdupont Inc 0.01%

Human Rights & Environmental Violations

BHP Group Ltd 0.38%
Johnson & Johnson 0.03%
Nestle Sa-Reg 0.03%
Chevron Corp 0.02%
Royal Dutch Shell Plc 'A' Ord 0.01%
Royal Dutch Shell Plc-B Shs 0.01%
BHP Billiton Finance Usa Ltd 5 30/09/2043 0.01%
Duke Energy Corp 1.80 01/09/2021 0.01%
Shell International Finance Bv 4.375 11/05/2045 0.01%
Duke Energy Corp 0.01%
Johnson & Johnson 2.45 01/03/2026 0.01%
Vale Overseas Ltd 6.875 21/11/2036 0.01%
Duke Energy Corp 3.75 01/09/2046 0.01%
Shell International Finance Bv 4.125 11/05/2035 0.01%
Johnson & Johnson 0.65 20/05/2024 0.01%
Southern Copper Corp 7.5 27/07/2035 0.01%

Animal Testing

Johnson & Johnson 0.030%
Nestle Sa-Reg 0.030%
Procter & Gamble Co 0.030%
Chevron Corp 0.020%
Coca-Cola Co 0.020%
Pepsico Inc 0.020%
Royal Dutch Shell Plc 'A' Ord 0.010%
Royal Dutch Shell Plc-B Shs 0.010%
Lvmh Moet Hennessy Vuitton ( Se ) 0.010%
Glaxosmithkline Plc 0.010%
Dowdupont Inc 5.319 15/11/2038 0.010%
Unilever Nv 0.010%
Coca-Cola Co/The 3.2 01/11/2023 0.010%
Shell International Finance Bv 4.375 11/05/2045 0.010%
L'Oreal 0.010%
Unilever Plc 0.010%
Newell Brands Inc 4.20 01/04/2026 0.010%
Bayer Ag-Reg 0.010%
Basf Se 0.010%
Pepsico Inc 2.375 06/10/2026 0.010%
Johnson & Johnson 2.45 01/03/2026 0.010%
Groupe Danone 0.010%
Colgate-Palmolive Company 0.010%
Glaxosmithkline Capital Plc 5.25 10/04/2042 0.010%
Air Liquide Sa 0.010%
Pepsico Inc 3.45 06/10/2046 0.010%
Bayer Capital Corp Bv 2.125 15/12/2029 0.010%
Reckitt Benckiser 0.010%
Shell International Finance Bv 4.125 11/05/2035 0.010%
Coca-Cola Co/The 1.55 01/09/2021 0.010%
Unilever Capital Corp 2 28/07/2026 0.010%
Dowdupont Inc 0.010%
Johnson & Johnson 0.65 20/05/2024 0.010%
General Mills Inc 4.2 17/04/2028 0.010%
Coca-Cola Co/The 0.75 09/03/2023 0.010%
Ecolab Inc 0.010%
Kraft Heinz Foods Co 4.625 30/01/2029 0.010%
Kraft Heinz Foods Co 4.375 01/06/2046 0.010%
Procter & Gamble Co/The 2.7 02/02/2026 0.010%
Kimberly-Clark Corp 0.010%

Download the fund's disclosure statement and portfolio holdings.

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