World Equity Portfolio

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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. FANZ operates a multi-manager, multi-style investment approach across a variety of asset classes and sectors.

 

Investment Description and Portfolio Objective

An active Investment Fund investing primarily in international shares. The fund acts as a core holding in an overall investment portfolio. Its objective is to achieve high capital growth over the medium to long-term.

 

Performance Objective

To earn a gross return in excess of the official cash rate plus 4% measured over a rolling three year period.

 

Benchmark Asset Allocation

 

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Benchmark Asset Allocation
 95% International Equities5% Fixed Interest and Cash
Pie Data 95 5

 

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.

 

Currency Hedging Policy

Approximately 50% of the International Equity exposure will be hedged and 50% unhedged to the New Zealand dollar, with a rebalancing of hedging arrangements generally occurring each quarter.

 

Taxation Policy

Currently taxed as a Portfolio Investment Entity.

 

Other Details

Annual management fee 1.25% p.a. of the gross asset value, plus GST. Trustee fee of 0.06% p.a. of gross asset value plus GST; No entry or exit fees.

 

Current Managers

Cash and Fixed Interest: SBS

International Equities: BlackRock Investment Management, Vanguard and Dimensional


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.