NZ Core Fixed Interest Fund – Retail

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The investment objective of the Fund is to outperform benchmark by 100 basis points per annum over a rolling three year period. The Fund is benchmarked against a 50:50 weighted average of the S&P/ NZX NZ Government Bond Index and S&P/ NZX A-Grade Corporate Bond Index. The Fund is an actively managed investment grade bond fund that invests predominantly in New Zealand government and corporate fixed income securities.

Monthly Fund Fact Sheet

Investment Style

The Fund aims to generate returns from two activities. The majority of returns will come from investing in a diversified range of New Zealand government and corporate fixed income securities. This enables the Fund to capture the premium above cash that medium to longer-term securities typically offer. Additional returns are targeted from research-driven, active investment decisions. We will increase the duration or credit exposure of the Fund when these are offering attractive returns. Conversely, we will reduce or hedge positions when we believe there is insufficient compensation for these risks. At all times, we emphasize the use of low-cost, efficient hedging instruments, and ensuring the Fund has a strong liquidity position.

Investment process details

Investor Suitability

This 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 New Zealand government and investment grade 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 30 November 2017 *

Return (after deductions for charges and tax) **

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.43% 0.99% 3.41% 3.22% 3.58% 3.11%

Return (after deductions for charges but before tax)

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.60% 1.38% 4.77% 4.49% 5.00% 4.34%

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

1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
0.67% 1.29% 4.74% 4.45% 5.24% 4.46%

The Market Index for this Fund is: 50:50 weighted average of the S&P/ NZX Government Bond Index and 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 Core Fixed Interest: Credit Ratings November 2017

Unit Price (NZD)

4 December 20171.1118
30 November 20171.1120
27 November 20171.1101
20 November 20171.1087
13 November 20171.1055
6 November 20171.1080
31 October 20171.1054
30 October 20171.1037
24 October 20171.1030
16 October 20171.1009
9 October 20171.0985
2 October 20171.0970
29 September 20171.0973
25 September 20171.0972
18 September 20171.1049
11 September 20171.1100
4 September 20171.1083
31 August 20171.1052
28 August 20171.1055
21 August 20171.1060
14 August 20171.1058
7 August 20171.1020
31 July 20171.0995
24 July 20171.0987
17 July 20171.0975
10 July 20171.0937
3 July 20171.0929
30 June 20171.0943
26 June 20171.1000
19 June 20171.1070
12 June 20171.1072
6 June 20171.1077
31 May 20171.1063
29 May 20171.1052
22 May 20171.1029
15 May 20171.1010
8 May 20171.0957
1 May 20171.0958
28 April 20171.0952
24 April 20171.0940
18 April 20171.0944
10 April 20171.0930
31 March 20171.0893
27 March 20171.0892
20 March 20171.0963
13 March 20171.0919
6 March 20171.0921
28 February 20171.0930
27 February 20171.0933
20 February 20171.0905
13 February 20171.0911
7 February 20171.0863
31 January 20171.0836
30 January 20171.0837
24 January 20171.0865
16 January 20171.0880
9 January 20171.0847
4 January 20171.0813
30 December 20161.0801
28 December 20161.0747
19 December 20161.0846
12 December 20161.0889
5 December 20161.0916
30 November 20161.0928
28 November 20161.0939
21 November 20161.0932
14 November 20161.0909
7 November 20161.0991
31 October 20161.1032
25 October 20161.1066
17 October 20161.1077
10 October 20161.1071
3 October 20161.1114
30 September 20161.1120
26 September 20161.1099
19 September 20161.1107
12 September 20161.1141
5 September 20161.1178
31 August 20161.1185
29 August 20161.1183
22 August 20161.1178
15 August 20161.1198
8 August 20161.1175
29 July 20161.1153
25 July 20161.1128
18 July 20161.1081
11 July 20161.1076
4 July 20161.1074
30 June 20161.1057
27 June 20161.1064
20 June 20161.1085
13 June 20161.1084
7 June 20161.1080
31 May 20161.1054
30 May 20161.1055
23 May 20161.1023
16 May 20161.1060
9 May 20161.1059
29 April 20161.0995
26 April 20161.0980
18 April 20161.0988
11 April 20161.0990
31 March 20161.0962
29 March 20161.0930
21 March 20161.0997
14 March 20161.0978
7 March 20161.0901
29 February 20161.0904
31 January 20161.0817
31 December 20151.0655
30 November 20151.0760
31 October 20151.0769
30 September 20151.0728
31 August 20151.0812
31 July 20151.0763
30 June 20151.0649
31 May 20151.0647
30 April 20151.0636
31 March 20151.0604
27 February 20151.0644
30 January 20151.0634
31 December 20141.0495

Distribution (NZD) *

Cents Per Unit
21 September 20170.83
23 June 20170.76
23 March 20170.86
20 December 20160.75
22 September 20160.66
22 June 20160.72
22 March 20160.63
31 December 20150.81
24 September 20150.90
25 June 20150.98
25 March 20150.99
22 December 20141.10
25 September 20141.05
25 June 20141.10
25 March 20141.09
20 December 20131.06
25 September 20131.11
26 June 20130.45
27 March 20130.93
20 December 20120.85
25 September 20120.93

* 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.