Fund Outline

Investment  Objective - The Fund invests in a well-researched portfolio of equities with the objective of generating an above market average dividend yield while providing some growth to maintain capital values in real terms.
  Strategy - The Fund invests in a select portfolio of New Zealand and Australian listed equity securities chosen for their attractive dividend yields, with some growth prospects to maintain the dividend yield and capital value in real terms. 
  Limits - 0 – 100% NZ shares, 0 – 100% AU shares, 0 – 10% Cash (for liquidity purposes)
Portfolio Manager Patrick Washer
Hedging The Fund will typically be fully hedged
Distributions Distributions will be paid quarterly, at the Manager’s discretion.
Structure Portfolio Investment Entity (PIE)
Suitability Suitable for New Zealand investors who want an actively managed, concentrated, exposure to the New Zealand and Australian stock markets. Given the nature of this investment, we recommend a minimum investment period of at least five years.
Fund Details  Date of Establishment: 12 December 2012
  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 - 0.7% p.a.
  Performance Fee - The performance fee is 10% of the net return of the Fund (reflected in the unit price) over the Fund’s hurdle rate of return for the relevant period.
  Switching Fee - Nil
  Other Fees - Please refer to the Product Disclosure Statement for details of other fees
Distributions Quarterly (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