Devon Australian Fund | Devon Funds Management

Fund Outline

Investment	Objectives - The Fund aims to generate capital growth over the long term by actively managing your Australian equity investments.
	Strategy - The Fund invests in a select portfolio of approximately 25-35 companies which are primarily Australian listed companies. The Australian market offers exposure to a number of sectors that are not available in New Zealand. The Australian Fund is actively managed, which means the holdings and investment returns may differ considerably from its benchmark. While the Fund tends to be fully invested in shares, it may hold some cash or cash equivalent securities.
	Limits - 80 – 100% AU shares, 0 – 20% Cash
Portfolio Manager	Tama Willis - Tama has over 17 years industry experience.
Hedging	The Fund has the ability to hedge its foreign currency exposure in a range from 0-100%. The Fund is typically unhedged in accordance with our hedging policy.
Structure	Portfolio Investment Entity (PIE) registered
Suitability	We recommend a minimum investment period of at least 5 years.
Fund Details	Date of Establishment: 20 August 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
Fees	Entry & Exit Fees - Nil
	Management Fee - 1.0% p.a.
	Performance Fee - The performance fee is the first 10% of gross portfolio performance above the hurdle rate of return of 10%. The high water mark can be reset every 3 years at the Manager's discretion and will be adjusted to take into account any distributions made.
	Switching Fee - Nil
	Other Fees - Please refer to the Product Disclosure Statement for details of other fees
Distributions	6 Monthly (at Manager's discretion)
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