Castle Point fund washes up on KiwiSaver platform
The 5 Oceans Fund has been added to the Smartshares-owned SuperLife platform which mainly has exchange traded funds.
Smartshares chief executive Hugh Stevens admits an active fund like 5 Oceans doesn't fit the firm's philosophy, but it is about giving customers choice.
"It's not necessarily our house philosophy," he says. However, the business does use this fund and funds from T. Rowe Price and Schroders for its pension schemes used by governments in Nauru and Tonga.
The $65 million 5 Oceans Fund is a diversified fund that invests in New Zealand and global securities. It also invests in strategies that have the specific purpose of reducing the impact of market crashes.
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