Outline
| Investment | Objective - The Fund aims to generate capital growth over the long term by actively investing in a concentrated portfolio of New Zealand and Australian equities and holding cash when appropriate investment opportunities cannot be identified. |
| Strategy - The Fund invests in a concentrated portfolio of approximately 10-15 select companies listed on the New Zealand and Australian share markets. The Alpha Fund does not follow an equity index and is actively managed, which means that we make our own investment decisions rather than have the Alpha Fund passively follow an index. | |
| Limits - 0–100% NZ shares, 0–100% AU shares, 0– 100% Cash | |
| Portfolio Manager | Slade Robertson |
| Hedging | Typically we fully hedge the Australian exposure, unless the NZ dollar is materially undervalued. |
| Structure | Portfolio Investment Entity (PIE) registered |
| Suitability | We recommend a minimum investment period of at least 5 years. |
| Fund Details | Date of Establishment: 13 May 2010 |
| Date of Transition to the FMCA Regime: 14 October 2016 | |
| Manager: Devon Funds Management Limited | |
| Supervisor: The New Zealand Guardian Trust Company Limited | |
| Auditor: PricewaterhouseCoopers | |
| Minimum Amount for: | Initial Investment - $10,000 |
| Additional Investment - $1,000 or $100 per quarter with a regular savings plan | |
| Withdrawal - $2,000 | |
| Entry, Exit & Switch Fees - Nil | |
| Management Fee - 1.0% p.a. | |
| Performance Fee - The performance fee is the first 1% of gross return above the hurdle rate of return up to 13% per annum, then 15% of the gross return thereafter. There is a cap on the performance fee of 3%. | |
| Other Fees - Please refer to the investment statement for details of other fees | |
| Trailing Commission | Nil |
| Buy/Sell Spread | Nil |
| Applications & Withdrawals | Daily, by 2.30pm (NZ time) to receive that COB price. |
| Unit pricing | Available here |
| Previous Funds Updates | Available here |
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