New fund week
The past week has seen three managers launch new funds into the New Zealand market.
Saturday, August 5th 2023, 3:06PM
ANZ Investments has launched a High Growth Fund which is nearly totally exposed to growth assets.
Its SIPO shows the target allocation to cash is just 5% and zero for fixed interest.
On the growth side it is targeting 10.5% to listed property, 3.5% to listed infrastructure and equities will be 18% Australasian and 63% international.
ANZ Investments managing director Fiona Mackenzie says the fund has the potential to achieve higher returns over the long-term. And acknowledges there is "the potential for more volatility over the short to medium term.”
“We think it’s most suitable for people with a longer investment timeframe. If you have a higher risk appetite and a longer time to ride out the ups and downs, this may be a good fund choice for you.”
It will be available to investors in ANZ Investments’ KiwiSaver and Investment Funds.
In addition to the new fund choice, ANZ Investments is also reducing fees across some of its funds, by five basis points.
“It’s part of our ongoing commitment to ensure our fees provide good value for money for our customers,” Mackenzie says.
Since the launch of KiwiSaver, ANZ Investments has reduced annual fees across ANZ KiwiSaver and One Answer KiwiSaver Schemes by an average amount of 32% and 33%, with the most recent reductions to the Conservative and Conservative Balanced Fund fees in 2021. In 2021 all KiwiSaver membership fees were removed.
Meanwhile, Australian-based iPartners has launched its wholesale private debt PIE funds.
The two new funds are:
- iPartners Diversified Private Income PIE – targeting a yield of 8% - 10% p.a. from a diversified portfolio of private debt assets. The fund will pay monthly distributions and provide monthly liquidity, It will will invest in the iPartners Investment Fund (an Australian unit trust), which was launched in March 2020 and with a net return of 10.1% for the June 2023 year.
- iPartners Core Income PIE – targeting a yield of 6%-8% p.a. from a diversified portfolio of predominantly senior private debt assets. The fund will pay monthly distributions and provide monthly liquidity. This fund will invest in the iPartners Core Income Fund (an Australian unit trust) with a net return of 8.1% for the June 2023 year.
iPartners head of funds management, William Wong, said New Zealand wholesale investors can access simple diversified, higher yielding private market investments with these funds.
Thom Bentley, head of capital markets New Zealand said, “We believe these funds can be used in portfolios to give income-seeking wholesale investors a significant income boost without materially increasing risk.”
As Good Returns reported recently Betashares is launching PIE funds in New Zealand. Its funds are now available on a number of adviser investment platforms.
"The inclusion of Betashares’ PIE funds on the menus of the major New Zealand-based investment platforms means advisers are now able to access the strategies for their clients.
The funds are available to advisers using the Consilium Wrap, Adminis, Apex Group and NZX Wealth Technologies.
The inclusion of Betashares’ PIE fund range on key platforms came as investment consultant, MyFiduciary, said the Australasian fund manager “had met all 24 criteria of the Fi360 Global Fiduciary Standard of Excellence for Investment Managers”. MyFiduciary also noted “clear and established processes and operational rigour” by Betashares as well as “a differentiated client servicing value proposition to many other fund managers.”
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