Summer New Zealand Cash fund performance update as at 28 February 2017.
Unit price (as at 28 February 2017): $1.0046
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.
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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 0.07% for the month.
The Official Cash Rate (OCR) is currently 1.75%.
We do not see a change to the OCR this year and on this basis we expect deposit rates to remain relatively stable for the remainder of 2017.
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 will 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.