Corporate Bond Portfolio

 

Fund Manager

Funds Administration New Zealand Limited (FANZ)

 

Fund Manager Profile

FANZ is an independent fund manager, and is the Manager of the Lifestages Investment Funds. FANZ is a subsidiary of the Southland Building Society (SBS), New Zealand’s largest building society. SBS has been in operation since 1869 and is a registered bank.

 

Investment Description

A Investment Fund investing principally in a diversified portfolio of New Zealand and International investment grade income securities. The Portfolio aims to provide a higher return by investing in a controlled option strategy on bonds, including a portion held in cash. The Portfolio’s permitted investment ranges are:

 

 
Fund exposure
Maximum exposure per issue
Cash (Southland Building Society)
5 – 30%
30%
Debt issues rated BBB+ or higher
0 – 95%
15%
Debt issues rated BBB or lower
0 – 40%
10%
Unrated Debt issues
0 – 10%
2.5%
Capital Guaranteed Debt issues (minimum Guarantor Rating of A)
0 – 45%
15%
Option Strategy
0 – 30%
30%


Ratings are the long-term credit rating scale of Standard & Poors. An equivalent short-term rating or an equivalent rating from a recognised rating agency is permitted.

 

Benchmark Asset Allocation

 

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Benchmark Asset Allocation
 95% NZ Fixed Interest & Overseas Fixed Interest5% Cash
Pie Data 95 5

 

Portfolio Objectives

The Lifestages Corporate Bond Portfolio aims to earn a gross return in excess of the 90 Day Bank Bill over a three year rolling period

 

Distributions

It is the Manager’s current policy not to pay distributions but instead have any income reflected in the unit price. This policy may change from time to time.

 

Taxation Policy

Currently taxed as a Portfolio Investment Entity.



Other Details

Annual management fee 0.85% plus GST of 0.01275% p.a. of gross asset value. Trustee fee of up to 0.10% plus GST of 0.01125% p.a. of gross asset value; No entry fees; No exit fees; Minimum investment $500; Minimum regular contributions $100 per month.

 

Current Managers

Cash: SBS
New Zealand Fixed Interest: Harbour Asset Management

 

 

Disclaimer
This information is intended as introductory information and should be read in conjunction with the Product Disclosure Statement for the Lifestages Investment Funds which can be obtained by contacting the manager on 0800 502 442. This information is of general nature only and has not been prepared with regard to the needs of any investor. Investors should be aware that future performance may not reflect results and the performance of the fund, repayment of any capital or any particular rate of return are not guaranteed. Details are current as at the date of preparation (1 October 2012) and are subject to change.