The Devon Australian Fund invests in a diversified portfolio of 25-35 well researched shares which are primarily Australian listed companies. The Australian market offers exposure to a number of sectors that are not available in New Zealand. The Fund is actively managed, which means the holdings may differ considerably from its ASX200 index. While the Fund tends to be fully invested, when there are few compelling investment opportunities, the Fund may hold up to 20% cash or cash equivalent securities.

FUND UPDATE CLICK HERE TO INVEST IN THE DEVON AUSTRALIAN FUND

 


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 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: 20 August 2010
  Date of Transition to the FMCA Regime: 14 October 2016
  Manager: Devon Funds Management Limited
  Superviser: Trustee Executors Limited
  Auditor: PricewaterhouseCoopers
Minimum Amount for: Initial Investment - $2,000
 
  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

Download FundSource Report below:

The FundSource rating information is an extract only and is published under license from FundSource Limited (“FundSource”).  The FundSource rating was provided as at 10 March 2017.  For more information and explanation of the ratings used please see: www.fundsource.co.nz/research

Any representation or statement expressed is made in good faith on the basis that FundSource is not able to be liable in respect of such representation or statement.  FundSource does not guarantee the accuracy of third-party information used to prepare reports.  This information is intended for general information purposes and should not be relied upon as a substitute for detailed advice from a professional financial adviser.  Copyright © FundSource Limited.  

 

Awards announced by FundSource, the investment strategy and research company. This award should not be read as a recommendation by FundSource.  For further advice on the relevance of this award to your personal situation consult your authorised financial adviser, or visit www.fundsource.co.nz

The Fund is governed by the Trust Deed dated 30 September 2016 and Fund is established within a registered managed investment scheme under the Financial Markets Conduct Act 2013 (FMC Act). You can download a copy of the Product Disclosure Statement and Fund Update below for more detailed information about the Devon Investment Funds. You can review a copy of the Trust Deed, Product Disclosure Statement and other important Scheme documents at any time by contacting us or electronically on our website or on the Scheme's register on www.business.govt.nz/disclose.