Summer Balanced Selection

Summer Balanced Selection fund performance summary as at 31 January 2021. 

Fund at a glance

Unit price (as at 31 January 2021): $1.3918

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 and the product disclosure statement

Fund objective and strategy

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

Fund returns

PIR Total since inception (annualised) 1 Month 3 Month 1 Year 3 Years^
28% 7.21% -0.47% 4.08% 4.50% 6.32%
17.50% 7.59% -0.46% 4.13% 4.83% 6.73%
10.50% 7.84% -0.46% 4.17% 5.05% 7.00%

^ Annualised 

Fund returns are calculated net of fund charges, trading expenses and accrued tax for a New Zealand resident individual paying tax at the Prescribed Investor Rate identified above. 

Tactical asset allocation

Summer Balanced Selection Allocated %
New Zealand cash 5.00%
New Zealand fixed interest 28.00%
International fixed interest 7.00%
Total income assets 40.00%
New Zealand equities 12.50%
Australian equities 15.50%
Listed property 5.00%
International equities 27.00%
Total growth assets 60.00%
Total 100.00%

We have chosen the above tactical asset allocation for Summer Balanced Selection as at 17 December 2020. 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 5.92%
2 New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50% 1.82%
3, Inc. 1.68%
4 Housing New Zealand 3.36% 12/06/2025 1.67%
5 Fisher & Paykel Healthcare Corporation Limited 1.46%
6 Bank of New Zealand Subordinated Note 17/12/2025 5.314% 1.42%
7 Visa Inc.- Class A Shares 1.40%
8 CSL Limited 1.28%
9 New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50% 1.26%
10 Alibaba Group Holding-Sp Adr 1.21%

The top 10 investments make up 19.12% of the fund.

Manager's Commentary

Foreign currency exposures associated with international fixed interest are hedged to the New Zealand dollar. We actively manage the fund’s currency exposures associated with international and Australian equities and are actively monitoring foreign currency exposures in relation to listed property vehicles. As at 31 January 2021, these exposures represented 42.57% of the value of the fund. After allowing for foreign currency hedges in place, approximately 29.94% of the value of the fund was unhedged and exposed to foreign currency risk.

The next Manager’s commentary will be included in the March Performance Summary (available April 2021).


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.