Smartshares Limited
Quaystreet Income Fund
Quaystreet KiwiSaver SchemeDefensive
What the provider says about this fund
The QuayStreet Income Fund will invest in a diversified portfolio with an emphasis on income producing assets such as New Zealand and International fixed interest investments and derivatives. The fund may include an allocation to growth assets. The investment objective is to provide a level of return above the fund’s benchmark over the long term. The fund aims to make quarterly distributions.
1-year return
3.84%
5-year return p.a.
2.90%
Total annual fee
0.87%
Fund size ($m)
0.8
Members
34
Inception date
30 September 2014
Risk indicator
The official Smart Investor risk indicator uses a scale from 1 to 7.
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Lower riskHigher risk
Investment mix
Growth assets
7.76%
Income assets
92.24%
| Asset class | Actual | Target | Average for Defensive funds |
|---|---|---|---|
| Australasian shares | 3.52% | 10.00% | 0.11% |
| Cash and equivalents | 4.94% | 10.00% | 48.53% |
| Commodities | 0.00% | 0.00% | 0.00% |
| International bonds | 25.93% | 35.00% | 22.70% |
| International shares | 0.00% | 0.00% | 0.12% |
| Listed property | 4.24% | 10.00% | 0.09% |
| New Zealand bonds | 61.37% | 35.00% | 28.46% |
| Unknown | 0.00% | 0.00% | 0.00% |
| Unlisted property | 0.00% | 0.00% | 0.05% |
Top 10 holdings
| Rank | Asset | Asset class | Asset type | Country | % of fund |
|---|---|---|---|---|---|
| 1 | NZ Govt Inflation Linked (Sep 2035) | Bonds | New Zealand Fixed Interest | NZ | 4.41% |
| 2 | ANZ New Zealand Subordinated Notes (Sep 2031) | Bonds | New Zealand Fixed Interest | NZ | 3.11% |
| 3 | Kiwibank AU (Oct 2027) | Bonds | New Zealand Fixed Interest | NZ | 2.91% |
| 4 | Chorus (Dec 2028) | Bonds | New Zealand Fixed Interest | NZ | 2.63% |
| 5 | NZ Govt Inflation Linked (Sep 2040) | Bonds | New Zealand Fixed Interest | NZ | 2.60% |
| 6 | Goodman Property Trust (Sep 2028) | Bonds | New Zealand Fixed Interest | NZ | 2.53% |
| 7 | Channel Infrastructure NZ (May 2027) | Bonds | New Zealand Fixed Interest | NZ | 2.47% |
| 8 | Metlifecare (Sep 2026) | Bonds | New Zealand Fixed Interest | NZ | 2.30% |
| 9 | NAB Subordinated Notes (Nov 2035) | Bonds | International Fixed Interest | AU | 2.29% |
| 10 | Cash ANZNZ (NZD) | Cash | Cash and Cash Equivalents | NZ | 2.27% |
Fees
0.87% total annual fee
| Fee type | Fee | Cost per year on a $30,000 balance | Average for Defensive funds |
|---|---|---|---|
| Management fees | 0.64% | $192 | 0.46% |
| Other fees | 0.13% | $39 | 0.06% |
| Membership fees | 0.10% | $30 | 0.05% |
| Total combined fees | 0.87% | $261 | 0.57% |
Yearly returns
| Year ending | Fund return | Average for Defensive funds |
|---|---|---|
| 31 March 2017 | 4.38% | 1.52% |
| 31 March 2018 | 2.98% | 2.07% |
| 31 March 2019 | 5.37% | 2.39% |
| 31 March 2020 | -0.04% | 1.67% |
| 31 March 2021 | 6.40% | 1.64% |
| 31 March 2022 | 0.26% | -1.81% |
| 31 March 2023 | 1.67% | -0.19% |
| 31 March 2024 | 4.39% | 3.49% |
| 31 March 2025 | 4.40% | 3.79% |
| 31 March 2026 | 3.84% | 2.09% |
Key personnel
| Name | Position | Time in role |
|---|---|---|
| Alister John Williams | Director - Smart | 10 years, 4 months |
| Craig Smith | Portfolio Manager, Fixed Interest - QuayStreet | 1 year, 11 months |
| Jon Raby | Director - Smart | 5 months |
| Roy Cross | Head of Australasian Equities - QuayStreet | 1 month |
| Stefan Stevanovic | Head of International Equities - QuayStreet | 3 years, 1 month |