Performance

Wholesale Unit Trusts (including imputation credits and before all fees, tax & expenses)

Returns* vs Benchmark 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Australasian Equity Fund – Wholesale   (30 November 2017) 0.72% 8.46% 28.83% 21.42% 19.08% 19.73%
Benchmark - S&P NZX 50 Index 0.56% 5.25% 20.22% 17.28% 16.14% 16.58%
Australasian Equity Income Fund – Wholesale   (30 November 2017) 1.68% 3.57% 14.54% 10.06% 11.64% 15.15%
Australasian Equity Focus Fund – Wholesale   (30 November 2017) 2.05% 12.03% 34.82% 21.31% 19.96%
NZ Core Fixed Interest Fund – Wholesale   (30 November 2017) 0.63% 1.52% 5.39% 5.22% 5.76% 5.13%
Benchmark - 50:50 S&P/NZX NZ Government Bond: S&P/NZX A-Grade Corporate Index 0.67% 1.29% 4.74% 4.45% 5.24% 4.46%
NZ Short Duration Fund   (30 November 2017) 0.24% 0.71% 3.00% 3.11% 3.49% 3.69%
Benchmark - 90 day Bank Bill Index 0.17% 0.49% 2.03% 2.31% 2.69% 2.80%

* Investment returns for the Wholesale Unit Trusts are gross, before all fees, tax and expenses, and include imputation credits. Returns for periods of less than a year are absolute returns for the relevant period; those of one year or two years are annualized for the period shown. Past performance is not indicative of future results.

Retail Unit Trusts (Harbour Retail returns have been calculated in accordance with the Financial Markets Conduct Act 2013 (FMC Act))**

Australasian Equity Fund – Retail

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 0.58% 7.88% 26.35% 19.05% 16.66% 17.04%
Return (after deductions for charges but before tax) 0.63% 8.16% 27.38% 20.04% 17.72% 18.26%
Market index return (reflects no deduction for charges and tax) 0.56% 5.25% 20.22% 17.28% 16.14% 16.58%

The Market Index for this Fund is: S&P/NZX50 Index.

Income Fund

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 0.61% 1.50% 6.02% 4.48%
Return (after deductions for charges but before tax) 0.78% 1.84% 7.09% 5.50%
Market index return (reflects no deduction for charges and tax) 0.69% 2.66% 9.12% 7.49%

The Market Index for this Fund is: 68% S&P/NZX A- Grade Corporate Bond Total Return Index; 16% S&P/ASX 200 Industrials Index (100% hedged to NZ Dollars); and 16% S&P/NZX Portfolio Index (as of 19th June 2017)

Australasian Equity Income Fund – Retail

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 1.47% 2.91% 11.99% 7.71% 9.10% 12.07%
Return (after deductions for charges but before tax) 1.58% 3.27% 13.27% 8.83% 10.38% 13.85%
Market index return (reflects no deduction for charges and tax) 2.09% 7.50% 21.35% 16.43% 15.07% 15.61%

The Market Index for this Fund is: 60% S&P/ASX Industrials Index (equally weighted and 90% hedged to NZD) and 40% S&P/NZX Portfolio Index.

Australasian Equity Focus Fund – Retail

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 1.78% 11.11% 31.86% 18.77% 17.30%
Return (after deductions for charges but before tax) 1.84% 11.06% 32.34% 19.21% 17.82%
Market index return (reflects no deduction for charges and tax) 0.81% 5.50% 19.37% 15.10% 12.86%

The Market Index for this Fund is: 50% S&P/NZX 50 and a 50% S&P/ASX 200 Index (which is 50% hedged into NZ dollars).

New Zealand Equity Advanced Beta Fund

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 0.92% 4.86% 17.61% 14.38%
Return (after deductions for charges but before tax) 1.04% 5.44% 19.21% 16.01%
Market index return (reflects no deduction for charges and tax) 0.77% 5.87% 22.23% 17.79%

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

NZ Core Fixed Interest Fund – Retail

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 0.43% 0.99% 3.41% 3.22% 3.58% 3.11%
Return (after deductions for charges but before tax) 0.60% 1.38% 4.77% 4.49% 5.00% 4.34%
Market index return (reflects no deduction for charges and tax) 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.

NZ Corporate Bond Fund

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 0.31% 0.77% 3.17% 2.90% 3.37% 3.22%
Return (after deductions for charges but before tax) 0.43% 1.07% 4.43% 4.05% 4.71% 4.50%
Market index return (reflects no deduction for charges and tax) 0.52% 1.21% 5.06% 4.59% 5.42% 5.00%

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

T. Rowe Price Global Equity Growth Fund – Retail

30 November 2017 1 Mth 3 Mth 1 Yr 2 Yr 3 Yr 5 Yr
Return (after deductions for charges and tax) *** 1.71% 11.54% 36.60% 12.31%
Return (after deductions for charges but before tax) 1.80% 11.83% 38.07% 13.49%
Market index return (reflects no deduction for charges and tax) 1.76% 10.69% 28.74% 11.04%

The Market Index for this Fund is: MSCI All Country World Index (unhedged).

** 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.

Important note about performance:

Investment performance can be measured in gross terms, that is before fees and taxes, or after fees or after both fees and taxes. Typically wholesale investors look at returns gross of fees and taxes as it is more appropriate to compare returns relative to benchmarks. In addition fees and taxes may vary from client to client. Retail returns have been calculated in accordance with the FMC Act.