Summer New Zealand Cash fund performance update as at 31 January 2017.
Unit price (as at 31 January 2017): $1.0036
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.
|Total since inception||1 Month||3 Months|
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%).
See the New Zealand Cash page for the Summary of investment objective and strategy.
Summer New Zealand Cash delivered a return of 0.08% for the month.
The Official Cash Rate (OCR) is currently 1.75%. The market is anticipating a 0.25%* hike to the OCR sometime around November.
On this basis we expect deposit rates to remain relatively stable for the majority of the year.
Our strategy to boost fund returns is to gain exposure to shorter-term securities issued by what we regard to be high quality domestic entities, such as the New Zealand Local Government Funding Agency; these securities will complement the fund’s investments in bank deposits.
*Overnight Index Swap pricing as provided by Westpac Banking Corporation 30 January 2017
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.