New Zealand Equity Advanced Beta Fund

The investment objective of the Fund is to outperform the S&P/ NZX Portfolio Index including imputation credits (the “benchmark”) over the medium term through tilts to empirically proven success factors. The Fund provides broad market exposure to New Zealand equities by tracking the benchmark, with active tilts to quantitatively generated success factors that have empirically delivered outperformance versus a passive benchmark over time.

Monthly Fund Fact Sheet

Investment Style

The Fund tracks the benchmark with tilts based on success factors. The Fund provides broad market exposure to New Zealand equities with tracking error under 2% on an ex ante basis. The Fund seeks to provide a core 70% benchmark tracking exposure with a 30% weighting to an equally weighted exposure to growth, yield and valuation success factors. Success factor tilts have empirical and academic support and are relevant to the unique New Zealand equity market. In simulations our success factors have outperformed with strong statistical and economic significance. We have conducted comprehensive simulation, risk analysis, and back testing of the factors over a period of more than a decade. The Fund has the ability to implement stock lending. Stock lending involves the transfer of legal title and beneficial interest in securities to a third party borrower, in some cases against collateral security, and in other cases with other appropriate risk mitigation arrangements.

Investment process details

Performance to 31 May 2017 *

Return (after deductions for charges and tax) **

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.48% 3.38% 5.60% 11.25%

Return (after deductions for charges but before tax)

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.55% 3.89% 7.10% 12.95%

Market index return (reflects no deduction for charges and tax)

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.88% 4.92% 7.39% 14.17%

The Market Index for this Fund is: S&P/NZX Portfolio Index.

* Returns for periods less than a year are for the relevant period and not annualised; those of one or two years are annualised for the period shown. Past performance is not indicative of future results.

** Returns are after tax at the highest prescribed investor rate (PIR) of tax for an individual New Zealand resident. Your tax may be lower.

Absolute Sector Weights- May 2017

Unit Price (NZD)

19 June 20171.3611
12 June 20171.3341
6 June 20171.3439
31 May 20171.3343
29 May 20171.3315
22 May 20171.3339
15 May 20171.3380
8 May 20171.3325
1 May 20171.3282
28 April 20171.3279
24 April 20171.3055
18 April 20171.3078
10 April 20171.3086
31 March 20171.3006
27 March 20171.2785
20 March 20171.2753
13 March 20171.2940
6 March 20171.2919
28 February 20171.2899
27 February 20171.2771
20 February 20171.2768
13 February 20171.2799
7 February 20171.2660
31 January 20171.2649
30 January 20171.2721
24 January 20171.2681
16 January 20171.2732
9 January 20171.2615
4 January 20171.2526
30 December 20161.2411
28 December 20161.2313
19 December 20161.2233
12 December 20161.2437
5 December 20161.2398
30 November 20161.2482
28 November 20161.2466
21 November 20161.2371
14 November 20161.2107
7 November 20161.2358
31 October 20161.2485
25 October 20161.2565
17 October 20161.2685
10 October 20161.2770
3 October 20161.3161
30 September 20161.3128
26 September 20161.3035
19 September 20161.3058
12 September 20161.3066
5 September 20161.3342
31 August 20161.3220
29 August 20161.3181
22 August 20161.3338
15 August 20161.3181
8 August 20161.3085
29 July 20161.3021
25 July 20161.2997
18 July 20161.2676
11 July 20161.2535
4 July 20161.2370
30 June 20161.2321
27 June 20161.1965
20 June 20161.2292
13 June 20161.2441
7 June 20161.2571
31 May 20161.2624
30 May 20161.2561
23 May 20161.2406
16 May 20161.2440
9 May 20161.2381
29 April 20161.2350
26 April 20161.2345
18 April 20161.2390
11 April 20161.2176
31 March 20161.2199
29 March 20161.2082
21 March 20161.2068
14 March 20161.1921
7 March 20161.1614
29 February 20161.1289
31 January 20161.1312
31 December 20151.1621
30 November 20151.1199
31 October 20151.0972
30 September 20151.0295
31 August 20151.0297
31 July 20151.0801
30 June 20151.0543
31 May 20151.0740
30 April 20151.0609
31 March 20151.0708
27 February 20151.0748
30 January 20151.0453
31 December 20141.0131