Summer Growth Selection

Summer Growth Selection fund performance summary as at 31 May 2019. 

Fund at a glance

Unit price (as at 31 May 2019): $0.9981

Date the fund started: 8 April 2019

For information on fees, see our Fees page.

For more information on the Summer Growth Selection fund, read the product disclosure statement

Fund objective and strategy

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

Fund returns

 Annualised total since inception1 Month3 Months1 Year
Fund n/a -1.85% n/a n/a

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 Growth Selection Allocated %
New Zealand cash 5.0%
New Zealand fixed interest 13.0%
International fixed interest 2.00%
Total income assets 20.0%
New Zealand equities 23.0%
Australian equities 15.0%
Listed property 5.0%
International equities 37.0%
Total growth assets 80.0%
Total 100.0%

We have chosen the above tactical asset allocation for Summer Growth 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 Growth Selection page.

Top 10 investments

  Asset name % of fund net assets
1 ANZ Cash Deposit 14.51%
2 JP Morgan Chase & Co. USD Cash Deposit 2.17%
3 The a2 Milk Company Limited 1.73%
4 Meridian Energy Limited 1.68%
5 BHP Group Limited 1.44%
6 Siemens AG-Reg 1.43%
7 Mainfreight Limited 1.33%
8 Spark New Zealand Limited 1.32%
9 Z Energy Limited 1.30%
10 Westpac Banking Corporation  1.29%

The top 10 investments make up 28.20% of the fund.

Manager's comments 

We actively manage the fund’s foreign currency exposures. As at 31 May 2019, the fund’s foreign currency exposures represented 46.54% of the value of the fund. After allowing for foreign currency hedges in place, approximately 35.56% of the value of the fund was unhedged and exposed to foreign currency risk.

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

 

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.