Forsyth Barr Investment Management Limited
Summer New Zealand Fixed Interest
Summer KiwiSaver SchemeDefensive
What the provider says about this fund
The Summer New Zealand Fixed Interest fund invests in New Zealand fixed interest assets. We aim to achieve long-term returns (before fees, taxes and other expenses) greater than the Bloomberg NZBond Composite 0+ Yr Index.
1-year return
2.58%
5-year return p.a.
1.24%
Total annual fee
0.87%
Fund size ($m)
6.9
Members
296
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 | 2.04% | 5.00% | 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 | 97.96% | 95.00% | 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 1.5% 15/05/2031 | Bonds | New Zealand Fixed Interest | NZ | 9.24% |
| 2 | New Zealand Government 14/04/2033 3.5 | Bonds | New Zealand Fixed Interest | NZ | 7.13% |
| 3 | New Zealand Government 15/05/2032 2.00 | Bonds | New Zealand Fixed Interest | NZ | 5.14% |
| 4 | NZ Government 4.25% 15/05/2034 Green Bond | Bonds | New Zealand Fixed Interest | NZ | 4.94% |
| 5 | New Zealand Government 4.5% 15/05/2035 | Bonds | New Zealand Fixed Interest | NZ | 4.92% |
| 6 | New Zealand Government 4.25% 15/05/2036 | Bonds | New Zealand Fixed Interest | NZ | 4.56% |
| 7 | New Zealand Government 4.50% 15/05/2030 | Bonds | New Zealand Fixed Interest | NZ | 4.19% |
| 8 | New Zealand Government 3% 20/04/2029 | Bonds | New Zealand Fixed Interest | NZ | 4.11% |
| 9 | ANZ Bank New Zealand Limited 17/09/2031 2.99 | Bonds | New Zealand Fixed Interest | NZ | 3.63% |
| 10 | New Zealand Government 15/05/2028 0.25 | Bonds | New Zealand Fixed Interest | NZ | 3.54% |
Fees
0.87% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.75% | $225 | 0.46% |
| Other fees | 0.00% | $0 | 0.06% |
| Membership fees | 0.12% | $36 | 0.05% |
| Total combined fees | 0.87% | $261 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2018 | 3.20% | 2.07% |
| 31 March 2019 | 3.57% | 2.39% |
| 31 March 2020 | 1.55% | 1.67% |
| 31 March 2021 | 2.48% | 1.64% |
| 31 March 2022 | -3.93% | -1.81% |
| 31 March 2023 | -0.27% | -0.19% |
| 31 March 2024 | 3.78% | 3.49% |
| 31 March 2025 | 4.27% | 3.79% |
| 31 March 2026 | 2.58% | 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 |