NZ Corporate Bond Fund

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The investment objective of the Fund is to outperform the S&P/NZX A-Grade Corporate Bond Index after fees on a rolling 12 month basis. The Fund is designed to provide access to favourable income yields through a diversified portfolio of primarily investment grade fixed income securities, denominated in New Zealand Dollars.

Monthly Fund Fact Sheet

Investment Style

The Fund aims to capture the credit and liquidity premium attached to corporate bonds, bank securities and local authority stock. This comes in the form of higher yields than are normally available from bank deposits or Government Stock. The Fund holds a buffer of Highly Liquid securities to accommodate client-driven cash flows and payment of distributions. This helps to minimise transaction costs and enables most corporate bonds to be held to maturity. The primary sources of risk management are diversification, credit research and constraints on exposures such as subordinate-ranking securities.

Investment process details

Investor Suitability

The fund may be suitable for investors with a medium to long-term investment horizon, seeking a low level of capital volatility and an income level commensurate with the yield on corporate bonds. The Manager aims to deliver a low or low to medium risk profile.

In making investment decisions it is important that retail investors seek and obtain any investment advice they require from their usual investment advisor.

Independent Research House Review

Morningstar - Bronze

View Report

Performance to 31 May 2017 *

Return (after deductions for charges and tax) **

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.55% 1.32% 2.34% 3.21% 3.64% 3.36%

Return (after deductions for charges but before tax)

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.77% 1.83% 3.26% 4.48% 5.09% 4.69%

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

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.95% 2.16% 3.91% 5.12% 5.85% 5.16%

The Market Index for this Fund is: S&P/NZX A Grade Corporate Bond 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.

NZ Corporate Bond: Credit Ratings May 2017

Unit Price (NZD)

19 June 20171.0690
12 June 20171.0684
6 June 20171.0680
31 May 20171.0667
29 May 20171.0656
22 May 20171.0643
15 May 20171.0636
8 May 20171.0585
1 May 20171.0590
28 April 20171.0586
24 April 20171.0574
18 April 20171.0586
10 April 20171.0570
31 March 20171.0532
27 March 20171.0532
20 March 20171.0600
13 March 20171.0561
6 March 20171.0561
28 February 20171.0567
27 February 20171.0570
20 February 20171.0546
13 February 20171.0543
7 February 20171.0514
31 January 20171.0490
30 January 20171.0493
24 January 20171.0503
16 January 20171.0510
9 January 20171.0486
4 January 20171.0462
30 December 20161.0459
28 December 20161.0420
19 December 20161.0525
12 December 20161.0566
5 December 20161.0584
30 November 20161.0590
28 November 20161.0597
21 November 20161.0587
14 November 20161.0564
7 November 20161.0620
31 October 20161.0652
25 October 20161.0670
17 October 20161.0681
10 October 20161.0672
3 October 20161.0704
30 September 20161.0710
26 September 20161.0697
19 September 20161.0741
12 September 20161.0750
5 September 20161.0767
31 August 20161.0771
29 August 20161.0768
22 August 20161.0761
15 August 20161.0767
8 August 20161.0740
29 July 20161.0731
25 July 20161.0716
18 July 20161.0677
11 July 20161.0670
4 July 20161.0661
30 June 20161.0640
27 June 20161.0655
20 June 20161.0697
13 June 20161.0694
7 June 20161.0697
31 May 20161.0666
30 May 20161.0666
23 May 20161.0644
16 May 20161.0675
9 May 20161.0675
29 April 20161.0630
26 April 20161.0622
18 April 20161.0622
11 April 20161.0624
31 March 20161.0599
29 March 20161.0569
21 March 20161.0672
14 March 20161.0653
7 March 20161.0613
29 February 20161.0627
31 January 20161.0546
31 December 20151.0433
30 November 20151.0555
31 October 20151.0547
30 September 20151.0535
31 August 20151.0597
31 July 20151.0545
30 June 20151.0434
31 May 20151.0467
30 April 20151.0423
31 March 20151.0395
27 February 20151.0454
30 January 20151.0443
31 December 20141.0317

Distribution (NZD) *

Cents Per Unit
23 June 20170.84
23 March 20170.92
20 December 20160.85
22 September 20160.78
22 June 20160.82
22 March 20160.93
22 December 20150.93
24 September 20150.96
25 June 20151.06
25 March 20151.08
22 December 20141.15
25 September 20141.20
25 June 20141.19
25 March 20141.17
20 December 20131.12
25 September 20131.15
26 June 20131.05
27 March 20131.19
20 December 20121.11
25 September 20121.19

* Distribution Information refers to the income paid out from the respective Fund to the underlying investor. This is expressed as Cents Per Unit (CPU). Investors have the option of getting the quarterly distribution reinvested back into additional units or having the distribution credited to the investors nominated bank account.