Forsyth Barr Investment Management Limited
Summer New Zealand Cash
Summer KiwiSaver SchemeDefensive
What the provider says about this fund
The Summer New Zealand Cash fund invests in cash, cash equivalents and short-term New Zealand debt security assets. We aim to provide returns (before fees, taxes and other expenses) above the Official Cash Rate (OCR) over a rolling 12 month period.
1-year return
2.19%
5-year return p.a.
2.41%
Total annual fee
0.62%
Fund size ($m)
4.9
Members
200
Inception date
19 September 2016
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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7
Lower riskHigher risk
Investment mix
Growth assets
0.00%
Income assets
100.00%
| Asset class | Actual | Target | Average for Defensive funds |
|---|---|---|---|
| Australasian shares | 0.00% | 0.00% | 0.11% |
| Cash and equivalents | 59.23% | 65.00% | 48.53% |
| Commodities | 0.00% | 0.00% | 0.00% |
| International bonds | 0.00% | 0.00% | 22.70% |
| International shares | 0.00% | 0.00% | 0.12% |
| Listed property | 0.00% | 0.00% | 0.09% |
| New Zealand bonds | 40.77% | 35.00% | 28.46% |
| Unlisted property | 0.00% | 0.00% | 0.05% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | New Zealand Government 15/05/2028 0.25 | Bonds | New Zealand Fixed Interest | NZ | 5.06% |
| 2 | Bank of China Call Account | Cash | Cash and Cash Equivalents | NZ | 4.27% |
| 3 | Kiwibank FRN 13/06/2028 | Bonds | New Zealand Fixed Interest | NZ | 4.20% |
| 4 | Powerco CP 15/04/2026 | Cash | Cash and Cash Equivalents | NZ | 3.86% |
| 5 | Tax Management NZ Tributum Trust CP 28/04/2026 | Cash | Cash and Cash Equivalents | NZ | 3.86% |
| 6 | BNZ Transactional Account | Cash | Cash and Cash Equivalents | NZ | 3.56% |
| 7 | ANZ Transactional Account | Cash | Cash and Cash Equivalents | NZ | 3.51% |
| 8 | Rabobank FRN 05/04/2027 | Bonds | New Zealand Fixed Interest | NZ | 3.10% |
| 9 | Meridian Energy Limited CP 13/04/2026 | Cash | Cash and Cash Equivalents | NZ | 3.09% |
| 10 | Investore Property Limited 2.40% 31/08/2027 | Bonds | New Zealand Fixed Interest | NZ | 2.44% |
Fees
0.62% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.50% | $150 | 0.46% |
| Other fees | 0.00% | $0 | 0.06% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 0.62% | $186 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2018 | 1.14% | 2.07% |
| 31 March 2019 | 0.95% | 2.39% |
| 31 March 2020 | 0.78% | 1.67% |
| 31 March 2021 | 0.14% | 1.64% |
| 31 March 2022 | 0.10% | -1.81% |
| 31 March 2023 | 2.09% | -0.19% |
| 31 March 2024 | 3.94% | 3.49% |
| 31 March 2025 | 3.80% | 3.79% |
| 31 March 2026 | 2.19% | 2.09% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Christine Smith-Han | Equity and Strategy Analyst,Octagon Asset Management Limited | 4 years, 4 months |
| Craig Alexander | Head of Fixed Interest and ESG, Octagon Asset Management Limited | 4 years, 4 months |
| Jason Lindsay | Head of Equities, Octagon Asset Management Limited | 4 years, 4 months |
| Neil Paviour-Smith | Director of Forsyth Barr Investment Management Limited (current) | 18 years, 1 month |
| Paul Robertshawe | Chief Investment Officer Octagon Asset Management Limited | 4 years, 4 months |