 |
 |
 |
Fund Outline
| Investment Objective | This Fund aims to generate capital growth over the long term by actively managing your New Zealand and Australian equity investments. The Fund also aims to deliver 5% return above the MSCI ESG benchmark over a rolling three-year period. |
| Strategy | The Fund will look to invest in those companies that score highly on overall environmental, social and corporate governance performance. The Fund also employs an ethical screen that will exclude companies where more than 10% of business revenue is derived from the manufacture of alcohol, gambling, pornography and the exploration, extraction, refining, processing of fossil fuels1. The Fund will also employ an ethical screen that will exclude companies where any business revenue is derived from the manufacture or sale of armaments2, production and manufacture of tobacco and tobacco-based products or nicotine alternatives3, and any company involved in whaling activities or on human rights watchlists as stated by MSCI. The Fund invests in a select portfolio of well researched New Zealand and Australian listed companies. |
| Limits |
0-100% New Zealand shares (Australasian equities) 0-100% Australian shares (Australasian equities) 0-10% cash or cash equivalent securities. |
| Exclusions | Available here |
| Benchmark | 50:50 composite of the S&P/NZX50 Portfolio Index and the S&P/ASX200G index hedged to NZD. |
| Portfolio Manager | Ben Jenkin |
| Hedging | Permitted range 0-100% |
| Structure | Portfolio Investment Entity (PIE) registered |
| Suitability | We recommend a minimum investment period of at least 5 years. |
| Fund Details | Date of Establishment: 1 July 2020 |
| Date of Transition to the FMCA Regime: 14 October 2016 | |
| Manager: Devon Funds Management Limited | |
| Portfolio Manager: Ben Jenkin | |
| 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 - 1.00% 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 half yearly, at the Manager's discretion |
| Applications & Withdrawals | Daily, by 2.30pm (NZ time) to receive that COB price. |
| Unit pricing | Available here |
| Previous Funds Updates | Available here |
1 For companies involved in the exploration, extraction, refining, or processing of fossil fuels, this applies to companies where more than 10% of business revenue is derived from coal or oil, including unconventional oil and unconventional gas. The Fund will also exclude:
- companies where more than 50% of business revenue is derived from the production of dedicated equipment or services for the fossil fuel sector.
- companies where more than 10% of business revenue is derived from the production of electricity if the company has a generation mix dominated by coal.
2 For companies involved in the manufacture and sale of armaments, the Fund will exclude:
- companies involved in the development and production of biological and chemical weapons, depleted uranium ammunition/armour, anti-personnel mines or cluster munitions/sub-munitions and their key components.
- companies (including their subsidiaries and investments) involved in the development, production and maintenance of nuclear weapons.
3 Tobacco-based products or nicotine alternatives includes:
- Electronic nicotine delivery systems (ENDS) as defined by the US Food and Drug Administration (e.g. ‘vaping’ devices, e-cigarettes) alternatively described as nicotine vaping products (NVP)
- Dissolvable and non-combustible tobacco products (e.g. nicotine pouches, snuff)
- Shisha and water pipes
Download our Proxy Voting Report here
Download the Devon Sustainability Fund Holdings here
_0.png){kind=small}
