Summer New Zealand Cash fund performance update as at 30 April 2017.
Unit price (as at 30 April 2017): $1.0063
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.
See the New Zealand Cash page for the Summary of investment objective and strategy.
|Total since inception||1 Month||3 Months||6 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%).
|Asset name||% of fund net assets|
|1||New Zealand Government Treasury Bill 07/06/2017||27.59%|
|2||NZ Local Government Funding Agency Ltd 15/12/2017 6.00%||19.42%|
|3||ANZ Cash Deposit||19.35%|
|4||Westpac Cash Deposit||17.87%|
|5||BNZ RCD 18/05/2017||15.78%|
|Total value of top 10 assets||100.00%|
Summer New Zealand Cash delivered a return of .07% for the month.
The Official Cash Rate (OCR) is currently 1.75%.
We expect the Reserve Bank of New Zealand (RBNZ) to maintain accommodative monetary policy and we see limited prospect of an increase in our Official Cash Rate (OCR) over the course of this year. We do caution that with annual inflation now at 2.2% (the highest since 2011) we see an increasing chance that the RBNZ will prematurely hike the OCR sooner that widely anticipated; we note that this is not our core view.
Our strategy to boost fund returns is to invest in shorter-term securities issued by what we regard to be high quality domestic entities, such as the New Zealand Local Government Funding Agency and New Zealand registered banks; these securities complement the portfolio’s on-call investments.
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.