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Devon

Dividend

Yield Fund

Fund Update

The Devon Dividend Yield Fund (“the Fund”) consists of a select group of approximately 25-35 New Zealand and Australian listed companies. These stocks are chosen for their attractive dividend yields and growth prospects with the aim of maintaining the dividend yield and capital value in real terms.

Invest in this Fund

Devon Dividend Yield Fund

Fund Outline

 
Investment  Objectives - The Fund invests in a well-researched portfolio of shares that are consistent with the objective of a long-term investor looking to invest for the purpose of:
  • Dividend yield
  • Some growth to maintain the dividend yield and capital values in real terms
  Strategy - The Fund invests in a select portfolio of approximately 25-35 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. The Dividend Yield Fund is actively managed, which means the holdings and investment returns may differ considerably from its benchmark.
  Limits - 0 – 100% NZ shares, 0 – 100% AU shares, 0 – 10% Cash (for liquidity purposes)
Portfolio Manager Mark Brown 
Hedging The Fund will typically be fully hedged
Distributions Target distributions of 1.25% per quarter after tax
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 the first 10% of gross portfolio performance above the hurdle rate of return of the 50:50 composite of the S&P/NZX50 (Gross) index and the S&P/ASX200 (Accumulation) index fully hedged. 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 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