Summer Investment Selection

Summer Investment Selection fund performance summary as at 28 February 2019. 

Fund at a glance

Unit price (as at 28 February 2019): $1.1773

Date the fund started: 19 September 2016

For information on fees, see our Fees page.

For more information on the Summer Investment Selection fund, read the latest quarterly fund update or the product disclosure statement

Fund objective and strategy

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

Fund returns

 Annualised total since inception1 Month3 Months1 Year
Fund 6.30% 2.50% 3.44% 4.21%

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 Investment Selection Allocated %
New Zealand cash 5%
New Zealand fixed interest 33%
International fixed interest 0%
New Zealand equities 13.5%
Australian equities 11.5%
Listed property 10%
International equities 27%
Total 100%

We have chosen the above tactical asset allocation for Summer Investment Selection as at 5 February 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 Investment Selection page.

Top 10 investments

  Asset name % of fund net assets
1 ANZ Cash Deposit 4.59%
2 New Zealand Local Government Funding Agency Ltd 15/04/2025 2.75% 2.19%
3 Kiwi Property Group Limited 1.97%
4 New Zealand Local Government Funding Agency Ltd 15/04/2027 4.50% 1.58%
5 Goodman Property Trust 1.45%
6 Precinct Properties New Zealand Limited 1.43%
7 Bank of New Zealand Subordinated Note 17/12/2025 5.314% 1.28%
8 Housing New Zealand 3.36% 12/06/2025 1.28%
9 Visa Inc.- Class A Shares 1.20%
10 BHP Group Limited 1.18%

The top 10 investments make up 18.15% of the fund.

Manager's comments

We actively manage the fund’s foreign currency exposures. As at 28 February 2019, the fund’s foreign currency exposures represented 38.30% of the value of the fund. After allowing for foreign currency hedges in place, approximately 34.46% of the value of the fund was unhedged and exposed to foreign currency risk.

The next Manager’s commentary will be included in the March Performance Summary (available April 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.