Summer Balanced Selection fund performance summary as at 29 February 2020.
Unit price (as at 29 February 2020): $1.2985
Date the fund started: 19 September 2016
For information on fees, see our Fees page.
See the Summer Balanced Selection page for the Summary of investment objective and strategy.
|Annualised total since inception||1 Month||3 Months||1 Year||3 Years|
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%).
|Summer Balanced Selection||Allocated %|
|New Zealand cash||5.0%|
|New Zealand fixed interest||33.0%|
|International fixed interest||7.0%|
|Total income assets||45.0%|
|New Zealand equities||15.5%|
|Total growth assets||55.0%|
We have chosen the above tactical asset allocation for Summer Balanced Selection as at 1 November 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.
|Asset name||% of fund net assets|
|1||New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50%||4.13%|
|2||ANZ transactional bank account||3.05%|
|3||Bank of New Zealand Subordinated Note 17/12/2025 5.314%||2.06%|
|4||The a2 Milk Company Limited||1.89%|
|7||New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75%||1.33%|
|8||Spark New Zealand Limited||1.18%|
|9||Genesis Energy Limited 8.30% 23/06/2020||1.10%|
|10||Fisher & Paykel Healthcare Corporation Limited||1.08%|
The top 10 investments make up 18.76% of the fund.
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. As at 29 February 2020, these exposures represented 32.52% of the value of the fund. After allowing for foreign currency hedges in place, approximately 23.52% 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 2020).
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.