Where a company has multiple ethical concerns, the total concerns percentage counts this investment once.
The average total concerns of all funds of the same risk profile is weighted by the funds' investment values.
The average total concerns of all managed aggressive funds is 12.02%.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
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.
The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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.
Has developed AI-based predictive policing systems. These are sold to Israeli security forces and used in surveillance of Palestinian in occupied Palestinian territories. The systems were originally designed for US immigration authorities and are used in the US to target immigrants and manage raids.
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.
A ride and food delivery service provider. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage, and providing the same benefits and rights as traditional taxi companies.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
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.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
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.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
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.
The Pie Chairman’s Fund seeks to provide investors with long term growth by accessing the higher potential growth of predominantly smaller companies. It does this by investing predominantly in other Pie Funds Products. The Fund may also invest in cash and directly in Smaller Companies.
| Value | $253M NZD |
| Period of data report | 30th Sept. 2025 |
| Fund started | 1st Sept. 2014 |
| Total annual fund fees | 1.85% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.78% |
| Other management and administration charges | 0.07% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (3 years, 6 months)
|
|
Michelle Lopez |
Currently: Head of Australasian Equities and Portfolio Manager (Co) (2 years, 8 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2025.
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 |
|---|---|---|
| 2025 | 4.07% | -0.48% |
| 2024 | 15.78% | 16.78% |
| 2023 | -4.85% | -5.93% |
| 2022 | 3.53% | 1.47% |
| 2021 | 35.55% | 52.92% |
| 2020 | -7.06% | -2.58% |
| 2019 | 10.17% | 4.24% |
| 2018 | 7.53% | 13.28% |
| 2017 | 9.49% | 9.77% |
| 2016 | 4.71% | 10.22% |
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 30th Sept. 2025.
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-
Jpm Call Account - AUD
Australia Cash and Equivalents A+
Generation Development Group Ltd
Australia Australasian Equities
Life360 Inc
United States Australasian Equities
Neuren Pharmaceuticals Ltd
Australia Australasian Equities
Ma Financial Group Ltd
Australia Australasian Equities
Boku Inc
United Kingdom International Equities
Tyro Payments Ltd
Australia Australasian Equities
Tuas Ltd
Australia Australasian Equities
Aussie Broadband Pty Ltd
Australia Australasian Equities
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 9.92% | 11.93% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 46.54% | 42.43% |
| International Equities | 43.55% | 45.63% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2025.
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. 2025 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.
Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.
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.
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.
The world’s largest social network (Facebook, Instagram, Messenger, WhatsApp). Company has faced claims and legal actions due to mental health harm (notably to young people), breaches of user privacy / data rights, and the spread of misinformation. Inadequate moderating in non-English speaking countries (e.g. Myanmar) allowed the platform to be used to incite ethnic violence. Removal of content moderation from strt of 2025 increases risk of social and political harm.
Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.
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.
Has developed AI-based predictive policing systems. These are sold to Israeli security forces and used in surveillance of Palestinian in occupied Palestinian territories. The systems were originally designed for US immigration authorities and are used in the US to target immigrants and manage raids.
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.
A ride and food delivery service provider. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage, and providing the same benefits and rights as traditional taxi companies.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
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.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
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.
Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.
Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.
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.
The Pie Chairman’s Fund seeks to provide investors with long term growth by accessing the higher potential growth of predominantly smaller companies. It does this by investing predominantly in other Pie Funds Products. The Fund may also invest in cash and directly in Smaller Companies.
| Value | $253M NZD |
| Period of data report | 30th Sept. 2025 |
| Fund started | 1st Sept. 2014 |
| Total annual fund fees | 1.85% |
| Total performance based fees | 0.0% |
| Manager's basic fee | 1.78% |
| Other management and administration charges | 0.07% |
| Total other charges | 0.0 |
| Total other charges currency | NZD |
|
Michael Taylor |
Currently: Executive Director and Chief Investment Officer (3 years, 6 months)
|
|
Michelle Lopez |
Currently: Head of Australasian Equities and Portfolio Manager (Co) (2 years, 8 months)
|
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2025.
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 |
|---|---|---|
| 2025 | 4.07% | -0.48% |
| 2024 | 15.78% | 16.78% |
| 2023 | -4.85% | -5.93% |
| 2022 | 3.53% | 1.47% |
| 2021 | 35.55% | 52.92% |
| 2020 | -7.06% | -2.58% |
| 2019 | 10.17% | 4.24% |
| 2018 | 7.53% | 13.28% |
| 2017 | 9.49% | 9.77% |
| 2016 | 4.71% | 10.22% |
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 30th Sept. 2025.
BNZ Call Account - NZD
New Zealand Cash and Equivalents AA-
Jpm Call Account - AUD
Australia Cash and Equivalents A+
Generation Development Group Ltd
Australia Australasian Equities
Life360 Inc
United States Australasian Equities
Neuren Pharmaceuticals Ltd
Australia Australasian Equities
Ma Financial Group Ltd
Australia Australasian Equities
Boku Inc
United Kingdom International Equities
Tyro Payments Ltd
Australia Australasian Equities
Tuas Ltd
Australia Australasian Equities
Aussie Broadband Pty Ltd
Australia Australasian Equities
| Type | Target | Actual |
|---|---|---|
| Cash and Cash Equivalents | 9.92% | 11.93% |
| New Zealand Fixed Interest | 0.0% | 0.0% |
| International Fixed Interest | 0.0% | 0.0% |
| Australasian Equities | 46.54% | 42.43% |
| International Equities | 43.55% | 45.63% |
| Listed Properties | 0.0% | 0.0% |
| Unlisted Properties | 0.0% | 0.0% |
| Other | 0.0% | 0.0% |
| Commodities | 0.0% | 0.0% |
How the money in this fund is invested by asset type.
This information has been sourced from the quarterly data that each fund has filed with Disclose register to 30th Sept. 2025.
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. 2025 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.
