The performance data is updated on a monthly basis.
Total returns are calculated:
using the sell (exit) price
net of management fees
gross of tax
as if distributions of income have been reinvested at the actual distribution reinvestment price
the actual returns received by an investor will depend on the timing, buy and exit price of individual transactions.
Figures showing a period of less than one year have not been adjusted to show an annual total return. Figures for periods of greater than one year are on a per annum compound basis.
Return of capital and the performance of your investment in the fund are not guaranteed. Past performance is not a reliable indicator of future performance.
Fund
Benchmark
4.7%
5.3%
-1.8%
-1.4%
2.8%
3.5%
16.6%
17.6%
15.5%
17.5%
13.3%
14.9%
10.1%
11.7%
9.4%
13.1%
-
-
5.7%
8.9%
As at 31 May 2025
The performance data is updated on a monthly basis.
Total returns are calculated:
using the sell (exit) price
net of management fees
gross of tax
as if distributions of income have been reinvested at the actual distribution reinvestment price
the actual returns received by an investor will depend on the timing, buy and exit price of individual transactions.
Figures showing a period of less than one year have not been adjusted to show an annual total return. Figures for periods of greater than one year are on a per annum compound basis.
Return of capital and the performance of your investment in the fund are not guaranteed. Past performance is not a reliable indicator of future performance.
Investment commentary
Check out our latest fund commentary for the year to 31 March 2025.
Explore the case studies below to learn more about some of the places we're invested in.
Steel Dynamics
Steel Dynamics is one of the largest and most diversified domestic steel producers and metals recyclers in the United States.
Steel Dynamics
Steel Dynamics is one of the largest and most diversified domestic steel producers and metals recyclers in the United States, with an estimated steelmaking and coating capacity of approximately 13 million tons, and facilities located throughout the United States and in Mexico. The company operates using a circular manufacturing model, producing lower-carbon-emission, quality steel using electric arc furnace (EAF) technology with recycled scrap steel as the primary input.
While steel is currently a resource-intensive material to make, Steel Dynamics disclose that their process yields a much lower emissions and water intensive product relative to other companies, and their emissions intensity is aligned with the steel industry’s pathway to limit warming to 1.5 degrees. We don't have a replacement for steel in all use cases, and there is a role and pathway in a Paris aligned world for steel. Steel Dynamics produces a significantly lower footprint steel products, meeting the ongoing need for critical materials in a lower emissions world.
Eli Lilly and Co. develops, manufactures and sells medicines for the treatment of diabetes, cancer and more.
Eli Lilly & Co
Eli Lilly and Company develops, manufactures and sells medicines for the treatment of diabetes, cancer, immunology, neuroscience and other therapies, including for the treatment of COVID-19.
The US-headquartered company has a more than 150-year history of advancing new discoveries to solve some of the world's most significant health challenges including redefining diabetes care, treating obesity and advancing the fight against Alzheimer's disease as well as providing solutions to some of the most debilitating immune system disorders.
Eli Lilly commissions animal testing in the development of their products, and although they use some other forms of testing, we are seeking to influence the company to do more to minimise the use and suffering of animals.
Welltower is a real estate investment trust that invests in specialised properties focused on healthcare.
Welltower
Welltower is a real estate investment trust that invests in specialised properties focused on healthcare including senior housing, post-care housing, Alzheimer's and dementia care and assisted living across the UK, US and Canada.
Demand for high quality and affordable health care to meet the needs of an aging global population is only increasing and requires vast investment and additional infrastructure. Providing proper care for populations with high needs, such as patients with memory loss, Alzheimer's disease or other types of dementia is essential to maintaining their quality of life.
Welltower’s investment into healthcare infrastructure and properties meet this growing need and help facilitate better treatment, lower healthcare costs and keeps patients out of hospital unnecessarily.
Our ethical investment approach favours companies and portfolios with stronger sustainability characteristics. The sustainability indicators presented below are for the investment by this option in listed shares at 30 June 2024 for which we have relevant sustainability data.
These listed shares are 99% of total investments of this fund, and the indicators are not applicable to the other investments of the fund.
72% less carbon intensive
The carbon intensity (tonnes of CO2 equivalent per dollar company revenue) for our listed share investments at 30 June 2024 is 72% lower than a mainstream share market benchmark(1,2)
2.4x revenue in sustainable solutions
These listed companies earn 2.4 times the revenue from sustainable solutions at 30 June 2024 than a mainstream share market benchmark(1,3)
1.7x clean energy solutions
These listed share investments at 30 June 2024 have 1.7 times the investment in renewables and energy solutions than a mainstream share market benchmark(1,3)
Sustainable Solutions Revenue Breakdown
Below is the estimated annual revenue earned by these listed companies that has been identified as contributing to sustainability goals such as the Sustainable Development Goals. The Sustainable Development Goals were set by the United Nations as a blueprint on how to achieve a better and more sustainable future. Find out more at sdgs.un.org/goals.
This is a general indication only and relates only to 99% of the investments of this option. The revenue is calculated per $1M invested in these listed shares and based on shareholdings at 30 June 2024.
This information is of a general nature and is not intended to provide you with financial advice or take into account your personal objectives, financial situation or needs. The sustainability characteristics of companies we invest in is not a measure of the impact of your investment. Your investment decisions should take into account the financial, risk, fee and other characteristics of potential investments.
This information is only shown for those listed shares where we have the necessary sustainability data. The comparisons are with available data for shares in a general share market benchmark selected as an appropriate investment benchmark ("Benchmark shares").
There is more information about the calculation method and benchmark here
