Funds
Clarity Global Shares 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
-
Meta Platforms Inc-Class A 2.01%
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.
-
China Petroleum & Chemical-H 1.07%
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.
-
Wells Fargo & Co 0.96%
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.
-
Glencore PLC 0.75%
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.
-
Rio Tinto PLC 0.66%
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. -
Nestle SA-Reg 0.40%
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.
-
Meta Platforms Inc-Class A 2.01%
Environmental Harm
-
Archer-Daniels-Midland Co 1.15%
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.
-
Bayer AG-Reg 0.99%
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.
-
P G & E Corp 0.78%
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.
-
Glencore PLC 0.75%
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.
-
Chemours Co/The 0.42%
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.
-
Nutrien Ltd 0.29%
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.
-
Archer-Daniels-Midland Co 1.15%
Animal Cruelty
-
Eni Spa 1.44%
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.
-
Kimberly-Clark Corp 1.22%
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.
-
China Petroleum & Chemical-H 1.07%
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.
-
Bayer AG-Reg 0.99%
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.
-
Colgate-Palmolive Co 0.61%
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.
-
Burberry Group PLC 0.48%
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).
-
LVMH Moet Hennessy Louis Vui 0.43%
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).
-
Chemours Co/The 0.42%
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.
-
Nutrien Ltd 0.29%
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.
-
Eni Spa 1.44%
Fossil Fuels
-
Eni Spa 1.44%
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.
-
China Petroleum & Chemical-H 1.07%
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 1.04%
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.
-
Suncor Energy Inc 0.93%
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 0.86%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
P G & E Corp 0.78%
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.
-
Glencore PLC 0.75%
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.
-
Rio Tinto PLC 0.66%
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. -
E.On Se 0.51%
Fossil Fuel Power Generation
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
-
Iberdrola SA 0.49%
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.
-
Phillips 66 0.43%
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.
-
Petrobras - Petroleo Bras 0.41%
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.
PETROBRAS - PETROLEO BRAS 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%.
-
Petroleo Brasileiro-Spon Adr 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.
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%.
-
Eni Spa 1.44%
This data is compiled by Mindful Money from the fund information and portfolios
that each 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
The Fund will provide actively managed exposure to international equities, and aims to generate a better return than the benchmark over the medium to long term. We use a global investment manager for this Fund, being MFS. MFS use a mix of fundamental and quantitative analysis to select companies.
| Value | $169M NZD |
| Period of data report | 31st Dec. 2023 |
| Fund started | 3rd April 2017 |
| Total annual fund fees | 1.06% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 0.66% |
| Other management and administration charges | 0.4% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
Key Personnel
|
Alan Lee |
Currently: Director, Clarity Funds Management Limited (18 years, 6 months) |
|
Andrew Kelleher |
Currently: Director, Clarity Funds Management Limited (15 years, 8 months) |
|
Josh Wilson |
Currently: Chief Investment Officer, Clarity Funds Management Limited (4 years, 9 months) |
|
Louis Loader |
Currently: Investment Analyst, Clarity Funds Management Limited (0 years, 3 months) |
This information has been sourced from the quarterly data that each 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 | -5.17% | 2.04% |
| 2022 | 3.53% | 8.22% |
| 2021 | 35.55% | 36.39% |
| 2020 | -7.06% | -5.73% |
| 2019 | 10.17% | 3.01% |
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 fund has filed with Disclose register to 31st Dec. 2023.
Top 10 Investments
-
Microsoft Corporation
United States International Equities4.45% -
Alphabet Inc Class A
United States International Equities3.54% -
Apple Inc
United States International Equities3.01% -
Amazon.Com Inc
United States International Equities2.38% -
Meta Platforms Inc
United States International Equities2.09% -
Nvidia Corp
United States International Equities1.98% -
Applied Materials Inc
United States International Equities1.69% -
Booking Holdings Inc
United States International Equities1.52% -
Adobe Systems Inc
United States International Equities1.36% -
Eni Spa
Italy International Equities1.35%
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 2.0% | 3.37% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 0.0% | 0.93% |
| International Equities | 98.0% | 95.7% |
| Listed Properties | 0.0% | 0.0% |
| 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 fund has filed with Disclose register to 31st Dec. 2023.