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 |
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