Income Fund – Retail

The Fund has been designed to generate a favourable level of income. The performance objective is to exceed the Official Cash Rate (OCR) plus 2% pa over rolling three year periods.

Monthly Fund Fact Sheet

Investment Style

The Fund has been designed to generate a favourable level of income. The core of the Fund is comprised of a diversified portfolio of investment grade corporate bonds designed to provide yield, stability and a premium above cash. The Fund also invests in listed Australasian dividend yielding equities to help enhance and diversify yield while providing the opportunity for growth. At times the Fund may also hold cash and short duration fixed interest securities as a defensive measure.

Investment process details

Investor Suitability

As the Fund blends Australasian equities with NZ and non-NZD fixed interest securities, the Fund may display some volatility and negative returns may be incurred. This Fund may be suitable for investors with a medium term investment horizon seeking income with the potential for capital growth. In making investment decisions it is important that retail investors seek and obtain any investment advice they require from their usual investment advisor.

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

Performance to 28 February 2017 *

Return (after deductions for charges and tax) **

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.87% 1.38% 4.31%

Return (after deductions for charges but before tax)

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
1.05% 1.55% 5.11%

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

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
1.27% 1.80% 7.57%

The Market Index for this Fund is: 70% S&P/NZX A Grade Corporate Bond Index; 18% S&P/ASX 200 Index (90% hedged); and 12% 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.

Asset Allocation as at 31 February 2017

Unit Price (NZD)

20 March 20170.9929
13 March 20170.9916
6 March 20170.9901
28 February 20170.9888
27 February 20170.9876
20 February 20170.9875
13 February 20170.9874
7 February 20170.9811
31 January 20170.9787
30 January 20170.9800
24 January 20170.9804
16 January 20170.9827
9 January 20170.9824
4 January 20170.9786
30 December 20160.9765
28 December 20160.9729
19 December 20160.9827
12 December 20160.9862
5 December 20160.9840
30 November 20160.9866
28 November 20160.9863
21 November 20160.9827
14 November 20160.9783
7 November 20160.9876
31 October 20160.9910
25 October 20160.9961
17 October 20160.9968
10 October 20160.9986
3 October 20161.0072
30 September 20161.0068
26 September 20161.0051
19 September 20161.0131
12 September 20161.0128
5 September 20161.0214
31 August 20161.0212
29 August 20161.0220
22 August 20161.0225
15 August 20161.0209
8 August 20161.0186
29 July 20161.0174
25 July 20161.0165
18 July 20161.0108
11 July 20161.0082
4 July 20161.0049
30 June 20161.0017
27 June 20160.9982
20 June 20161.0120
13 June 20161.0144
7 June 20161.0171
31 May 20161.0145
30 May 20161.0149
23 May 20161.0097
16 May 20161.0124
9 May 20161.0119
29 April 20161.0045
26 April 20161.0034
18 April 20161.0041
11 April 20161.0000
31 March 20161.0003
29 March 20160.9944
21 March 20161.0085
14 March 20161.0058
7 March 20160.9972
29 February 20160.9914
31 January 20160.9901
31 December 20150.9872
30 November 20151.0002
31 October 20151.0001

Distribution (NZD) *

Cents Per Unit
23 March 20171.25
20 December 20161.25
22 September 20161.25
22 June 20161.25
22 March 20161.25
31 December 20151.25

* 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.