The Diversified Income Fund is a unit trust managed by Devon that aims to generate better-than-bank rates. The Fund holds an investment portfolio of Cash, Fixed Interest Securities, Listed Equities and High Yield Credit.
FUND UPDATE CLICK HERE TO INVEST IN THE DEVON DIVERSIFIED INCOME FUND
Fund Outline
| Investment | Objective - The Fund aims to provide investors with a high level of income relative to short term bank interest rates. The Fund also invests in a limited pool of growth assets with the aim of maintaining the value of capital after inflation. |
| Strategy - The Fund invests in a carefully selected portfolio of government and corporate bonds, cash, listed property, infrastructure and utility companies, high yielding equities, credit securities and other yielding financial assets. Devon utilises its expertise in Australasian equities either directly or through our managed investment scheme. We employ the specialist services of the JBWere Fixed Interest team to advise on fixed interest security selection and aid in portfolio construction. Devon has control over this investment process. | |
| Limits - 0-100% Fixed Interest Securities, 0-100% Cash, 0-40% Listed Equities, 0-10% High Yield Credit | |
| Portfolio Manager | Slade Robertson - With over 20 years experience in both New Zealand and Australian investment industries, Slade's excellent track record is proof of his determination to pursue the best investment opportunities for his clients. |
| Hedging | Fully hedged against currency movement. |
| Structure | Portfolio Investment Entity (PIE) registered |
| Suitability | We recommend a minimum investment period of at least 1 year. |
| Fund Details | Date of Establishment: 1 January 2016 |
| Date of Transition to the FMCA Regime: 14 October 2016 | |
| Manager: Devon Funds Management Limited | |
| Portfolio Manager: Slade Robertson | |
| 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 & Switch Fees - Nil |
| Management Fee - 0.65% p.a. plus GST | |
| Performance Fee - Nil | |
| Trustee, custody and administration fees - Capped at 0.25% p.a. plus GST | |
| Other Fund expenses - Abnormal or one-off costs, brokerage, all taxes that may be incurred by the Fund | |
| Distribution | Distributions will be paid quarterly and can be re-invested. |
| 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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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.