The Trans-Tasman Fund invests in a high conviction portfolio of 25-35 well researched shares which are primarily New Zealand and Australian listed companies.
The Fund is actively managed, which means the holdings may differ considerably from its composite 50:50 NZX50 and ASX200 index. While the Fund tends to be fully invested, when there are few compelling investment opportunities, the Fund may hold up to 50% cash or cash equivalent securities.
|Investment||Objective - The Fund aims to generate capital growth over the long term by actively managing your New Zealand and Australian equity investments.|
|Strategy - The Fund invests in a select portfolio of approximately 25-35 well researched companies which are primarily New Zealand and Australian listed companies. The Trans-Tasman Fund is actively managed, which means the holdings and returns may differ considerably from its benchmark. While the Trans-Tasman Fund tends to be fully invested in shares, when there are few compelling investment opportunities the Fund may hold some cash or cash equivalent securities.|
|Limits - 0–100% NZ shares, 0–100% AU shares, 0– 50% Cash|
|Portfolio Manager||Tama Willis - Tama has over 17 years industry experience.|
|Hedging||While only the active Australian exposure above benchmark is typically hedged, the Manager can increase hedging levels.|
|Structure||Portfolio Investment Entity (PIE) registered|
|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: September 1998|
|Date of Transition to the FMCA Regime: 14 October 2016|
|Manager: Devon Funds Management Limited|
|Superviser: Trustee Executors Limited|
|Minimum Amount for:||Initial Investment - $2,000|
|Additional Investment - $1,000 or $100 per quarter with a regular savings plan|
|Withdrawal - $2,000|
|Entry, Exit & Switch Fees - Nil|
|Management Fee - 1.0% p.a.|
|Payable when the rolling 12-month net return (after fees and expenses, but before performance fees) exceeds a hurdle rate of 9.85%. The performance fee is 10% of the performance over the hurdle rate and is subject to a high water mark.|
|Other Fees - Please refer to the investment statement for details of other fees|
|Applications & Withdrawals||Daily, by 2.30pm (NZ time) to receive that COB price.|
|Unit pricing||Available here|
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The FundSource rating information is an extract only and is published under license from FundSource Limited (“FundSource”). The FundSource rating was provided as at 10 March 2017. For more information and explanation of the ratings used please see: www.fundsource.co.nz/research
Any representation or statement expressed is made in good faith on the basis that FundSource is not able to be liable in respect of such representation or statement. FundSource does not guarantee the accuracy of third-party information used to prepare reports. This information is intended for general information purposes and should not be relied upon as a substitute for detailed advice from a professional financial adviser. Copyright © FundSource Limited.
The Lonsec Limited (“Lonsec”) ABN 56 061 751 102 rating (assigned July 2013) presented in this document is a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) and based solely on consideration of the investment merits of the financial product(s). It is not a “personalised service” (as defined in the Financial Advisers Act 2008 (NZ)) and does not constitute a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec may receive a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.
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.