Summer Balanced Selection
Summer Balanced Selection fund performance summary as at 30 November 2019.
Fund at a glance
Unit price (as at 30 November 2019): $1.3006
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
| Annualised total since inception | 1 Month | 3 Months | 1 Year | 3 Years | |
|---|---|---|---|---|---|
| Fund | 7.91% | 1.59% | 2.24% | 13.60% | 9.01% |
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 | 5.0% |
| New Zealand fixed interest | 33.0% |
| International fixed interest | 7.0% |
| Total income assets | 45.0% |
| New Zealand equities | 15.5% |
| Australian equities | 12.5% |
| Listed property | 5.0% |
| 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 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.
Top 10 investments
| Asset name | % of fund net assets | |
| 1 | ANZ transactional bank account | 6.71% |
| 2 | The a2 Milk Company Limited | 1.66% |
| 3 | Commonwealth Bank of Australia Limited | 1.51% |
| 4 | New Zealand Local Government Funding Agency Ltd 14/04/2033 3.50% | 1.49% |
| 5 | New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75% | 1.39% |
| 6 | CSL Limited | 1.36% |
| 7 | BHP Group Limited | 1.20% |
| 8 | Kiwi Property Group Limited | 1.19% |
| 9 | Meridian Energy Limited | 1.16% |
| 10 | New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50% | 1.06% |
The top 10 investments make up 18.73% 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 30 November 2019, these exposures represented 32.47% of the value of the fund. After allowing for foreign currency hedges in place, approximately 25.01% of the value of the fund was unhedged and exposed to foreign currency risk.
The next Manager’s commentary will be included in the December Performance Summary (available January 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.
