Summer Balanced Selection

Summer Balanced Selection^ fund performance summary as at 31 July 2019. 

Fund at a glance

Unit price (as at 31 July 2019): $1.2658

Date the fund started: 19 September 2016

For information on fees, see our Fees page.

For more information on the Summer Balanced Selection fund, read the latest quarterly fund update or the product disclosure statement

Fund objective and strategy

See the Summer Balanced Selection page for the Summary of investment objective and strategy.

Fund returns

 Annualised total since inception1 Month3 Months1 Year
Fund 7.91% 1.65% 3.07% 6.00%

Fund returns are calculated net of fund charges, trading expenses and accrued tax for a New Zealand resident individual paying tax at the highest Prescribed Investor Rate (28%). 

Tactical asset allocation

Summer Balanced Selection Allocated %
New Zealand cash 7.0%
New Zealand fixed interest 33.0%
International fixed interest 5.0%
Total income assets 45.0%
New Zealand equities 15.5%
Australian equities 9.5%
Listed property 8.0%
International equities 22.0%
Total growth assets 55.0%
Total 100.0%

We have chosen the above tactical asset allocation for Summer Balanced Selection as at 16 May 2019. This can move in line with market movements and we review the portfolio and adjust asset allocation accordingly. For the current tactical asset allocation and date of most recent review, please go to the Summer Balanced Selection page.

Top 10 investments

  Asset name % of fund net assets
1 ANZ transactional bank account 6.16%
2 New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75% 1.72%
3 Kiwi Property Group Limited 1.64%
4 The a2 Milk Company Limited 1.36%
5 Precinct Properties New Zealand Limited 1.34%
6 New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50% 1.29%
7 Port Of Tauranga Limited Commercial Paper 17/09/2019      1.27%
8 Meridian Energy Commercial Paper 29/10/2019 1.27%
9 Meridian Energy Limited 1.17%
10 Genesis Power Ltd 01/11/2019 5.205%  1.17%

The top 10 investments make up 18.39% of the fund.

Manager's comments

We actively manage the fund’s foreign currency exposures. As at 31 July 2019, the fund’s foreign currency exposures represented 29.85% of the value of the fund. After allowing for foreign currency hedges in place, approximately 25.30% of the value of the fund was unhedged and exposed to foreign currency risk.

The next Manager’s commentary will be included in the September Performance Summary (available October 2019).


 ^On the 8 April 2019 the Summer Investment Selection was renamed the Summer Balanced Selection. 


This is not a recommendation to buy or sell any financial product and does not take your personal circumstances into account. All opinions reflect our judgement on the date of communication and may change without notice. Past performance is not a reliable guide to future performance. We recommend you take financial advice before making investment decisions. We have prepared this web page in good faith based on information obtained from other sources, but we do not guarantee the accuracy of that information. We do not make any representation or warranty (express or implied) that this web page is accurate, complete, or current and to the maximum extent permitted by law disclaim any liability for loss which may be incurred by any person relying on this web page.