Funds
Christian KiwiSaver Growth 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
-
Rio Tinto Ltd 0.89%
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.
-
Thermo Fisher Scientific Inc 0.72%
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.
-
Caterpillar Inc 0.54%
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. -
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.
-
Johnson & Johnson 0.37%
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.
JOHNSON & JOHNSON Public Safety
Johnson & Johnson is the world's largest and most diverse healthcare firm. The company has been involved in repeated incidents related to the quality and safety of several of its products across all three of the company’s business segments — drugs, devices, and consumer products. Several products have been associated with allegations of severe or even fatal adverse impacts on patients.
-
Wells Fargo & Co 0.22%
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 0.07%
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.
-
Credit Suisse AG 0.03%
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 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 Ltd 0.89%
Environmental Harm
-
Basf Se 0.14%
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.
-
Bayer AG-Reg 0.10%
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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Basf Se 0.14%
Animal Cruelty
-
Procter & Gamble Co/The 0.41%
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 0.35%
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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Unilever PLC 0.17%
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.
-
Basf Se 0.14%
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.
-
3M Co 0.12%
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.
3M CO Animal Testing Environmental Damage
3M Co is a diversified technology company that has been fined in recent years for environmental non-compliance, regarding the pollution of rivers, waterways and groundwater with toxic chemicals, broadly referred to as per- and polyfluoroalkyl substances (PFAS). 3M Co also states it uses laboratory animals in the research and development of some products and is therefore considered to be involved in animal testing.
-
Bayer AG-Reg 0.10%
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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Albemarle Corp 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.
-
Procter & Gamble Co/The 0.41%
Fossil Fuels
-
Contact Energy Ltd 0.70%
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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Iberdrola SA 0.45%
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.
-
Enbridge Inc 0.42%
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.
-
Xcel Energy Inc 0.36%
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.
-
Cms Energy Corp 0.32%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Totalenergies Se 0.27%
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.
TOTALENERGIES SE Fossil Fuel Production
TotalEnergies, headquartered in France, is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company engages in oil and gas exploration, production, refining, storage and transportation, as well as in the production of petrochemicals and specialty chemicals. Between 2021 and 2023, the company spent an average of USD $990 million per year on exploration activities alone. After generating 970 million barrels of oil in 2023, the company plans to expand their operations an additional 7,970 million barrels in the short term (1-7 years).
Expansion countries include Uganda, Australia, Papua New Guinea, Azerbaijan, Iraq, Qatar, UAE, Oman, Egypt, Libya, Kenya, Mozambique, Angola, Congo, Cameroon, Nigeria, Brazil, Argentina, USA, Norway, Denmark, Russia. 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 57.1%. -
Dte Energy Company 0.26%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Hess Corp 0.24%
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.
-
National Grid PLC-Sp Adr 0.22%
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.
-
Occidental Petroleum Corp 0.03%
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 Co 0.03%
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.
-
Halliburton Co 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.
-
Southern Power Co. 0.01%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Valero Energy Corp 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 0.70%
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 31st March 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
The Growth Fund invests mainly in growth assets such as equities and alternative assets. It has a small exposure to fixed interest, mortgages and cash. It is designed to have a medium to high risk profile and to appeal to members with a long term investment horizon.
| Value | $29.2M NZD |
| Period of data report | 30th June 2023 |
| Members | 914 |
| Fund started | 20th July 2007 |
| Total annual fund fees | 1.5% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.5% |
| Other management and administration charges | 0.0% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Brendan O'Donovan |
Currently: Chair of Investment Committee (3 years, 10 months) |
|
Simon Brodie |
Currently: Chief Investment Officer / Investment Consultant (11 years, 11 months) |
|
Manher Sukha |
Currently: Investment Manager (8 years, 10 months) |
This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 30th June 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 | -3.87% | -0.57% |
| 2022 | 2.25% | 7.34% |
| 2021 | 28.16% | 20.68% |
| 2020 | -3.43% | -0.93% |
| 2019 | 6.75% | 9.3% |
| 2018 | 7.80% | 4.61% |
| 2017 | 9.24% | 10.2% |
| 2016 | 3.62% | 4.05% |
| 2015 | 13.73% | 11.01% |
| 2014 | 8.43% | 7.15% |
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 30th June 2023.
Top 10 Investments
-
Pimco Global Bond ESG Fund
Ireland Int Fixed Interest6.74% -
Hawkes Bay Forest
New Zealand Other3.9% -
Crown Global Opportunities Vi PLC Fund
Ireland Other3.89% -
Apple Computer
United States Int Fixed Interest2.81% -
Crown Global Opportunities Vii PLC
Ireland Other2.68% -
Legg Mason Brandywine Gofi
Ireland Int Fixed Interest2.06% -
Microsoft
United States International Equities1.82% -
Pimco Gis Global Bond Fund
Ireland Int Fixed Interest1.78%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 5.0% | 7.87% |
| New Zealand Fixed Interest | 10.0% | 7.81% |
| International Fixed Interest | 10.0% | 10.59% |
| Australasian Equities | 25.0% | 21.69% |
| International Equities | 40.0% | 38.15% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 10.0% | 13.89% |
| 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 30th June 2023.