Summer New Zealand Cash

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Summer New Zealand Cash fund performance summary as at 31 October 2017. 

Fund at a glance

Unit price (as at 31 October 2017): $1.0155

Date the fund started: 19 September 2016

For information on fees, see our Fees page.

Further information can be found in the product disclosure statement

Fund objective and strategy

See the New Zealand Cash page for the Summary of investment objective and strategy.

Fund returns

 Total since inception1 Month3 Months6 Months1 Year
Fund 1.11% 0.08% 0.41% 0.66% 1.04%

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%). 

Top 10 Investments

Asset name % of fund net assets
Westpac Cash Deposit 22.35%
New Zealand Local Government Funding Agency Ltd 15/03/2019 5.00% 21.92%
ANZ Cash Deposit 19.94%
ASB Bank Registered Certificate Deposit 18/12/17 14.69%
Kiwibank Subordinated Bonds 5.80% 15/12/2022 9.80%
Trustpower Limited 15/12/2017 7.10% 7.46%
 Z Energy Ltd 15/8/2018 7.25% 3.85%
Total value of top 10 assets 100.00%


Manager's comments

Summer New Zealand Cash delivered a return of 0.08% for October.

Our expectation of the Reserve Bank of New Zealand is to maintain accommodative monetary policy and we see limited prospect of an increase in the Official Cash Rate over the course of the next 12 months.

On this basis we forecast deposit rates to remain at current levels for some time yet.

The fund continues with its strategy of holding what we believe to be high quality debt securities, in order to boost fund returns, as a complement to its cash deposits held with domestic banks.


For more information on the Summer New Zealand Cash fund, read the latest quarterly fund update.

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.