- Minimum investment
$1,000
- Fund start date
30 September 2014
Mix
This is the actual mix of growth assets (shares, property) and income assets (bonds, cash) that this fund held on 31 March 2024. The average mix for defensive managed funds is in grey.
Fees
Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. Compare with the average fees for defensive managed funds (in grey).
Returns
Returns (in green) show how much this fund has grown in value in five years up to 31 March 2024 – after fees and taxes. Compare with the average defensive managed fund (in grey).
Key facts
Here is what the provider says about this managed 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. ”
When can you get your money out?
For this managed fund (i.e. not a KiwiSaver fund), see the section of the PDS on withdrawing funds and how this works. Also, look for information about how long it takes to actually get paid after requesting a withdrawal, whether regular withdrawals are possible, and how often.
Mix
This is a snapshot of the proportion of growth assets (shares, property, other) or income assets (cash, bonds) that this fund held on 31 March 2024.
You can also see the average for Defensive funds, which typically hold from 0% to 10% of growth assets.
This fund's asset mix
- Growth assets
- Income assets
- ASSET TYPE
- THIS FUND
- AVERAGE OF ALL DEFENSIVE MANAGED FUNDS
Breakdown on Property assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 3.99% | — | 0.11% |
| Listed property | 3.99% | 10 | 0.04% |
| Unlisted property | 0.00% | 0% | 0.07% |
About property
Property refers to commercial real estate (not the family home) owned through property trusts or companies that own or develop real estate as their business. Properties are growth assets and can be listed on an exchange or be unlisted.
Breakdown on Other assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 0.00% | — | 0.17% |
| Commodities | 0.00% | 0% | 0.00% |
| Other | 0.00% | 0% | 0.17% |
| Unknown | 0.00% | 0% | 0.00% |
What "other" means
This category can include alternative investments such as derivatives, often through a hedge fund. These "other" investments are typically considered growth assets, or high-risk investments.
Breakdown on Bonds assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 89.09% | — | 71.96% |
| New Zealand bonds | 53.60% | 35 | 36.39% |
| International bonds | 35.49% | 35 | 35.56% |
About bonds
A bond is a bit like a term deposit at a bank, but it's effectively a loan you make to a company or government which they promise to pay back in full on a specific date. Until then, you receive regular interest at a fixed or agreed rate. Bonds are income assets and can also be called "fixed interest" or "debt securities". Since they can typically be traded on a secondary market, their value can go up and down. Here's more on the basics of bonds.
Breakdown on Cash assets
| ACTUAL | TARGET | AVERAGE | |
|---|---|---|---|
| Total | 4.18% | — | 27.64% |
| Cash and equivalents | 4.18% | 10 | 27.64% |
About cash
Cash is a kind of investment that generally pays you interest. (An exception to this are shariah-compliant funds, which can hold cash but are prohibted from earning interest.) Cash typically includes term deposits, floating-rate notes and money market accounts. Cash, which is often a loan to a bank, is considered an income asset. Here's more on investing in term deposits.
Top 10 investments
These assets make up 36.11% of this fund.
| Asset | Asset class | Type | Country | % of Fund |
|---|---|---|---|---|
| AUSTRALIAN GAS NETWORKS INFLATION LINKED (AUG 2025) | Bonds | International fixed interest | AU | 4.46% |
| KIWIBANK AU (OCT 2027) | Bonds | New Zealand fixed interest | NZ | 4.29% |
| APT PIPELINES (MARCH 2025) | Bonds | International fixed interest | AU | 4.24% |
| CHORUS (DEC 2028) | Bonds | New Zealand fixed interest | NZ | 4.24% |
| GOODMAN PROPERTY TRUST (SEP 2028) | Bonds | New Zealand fixed interest | NZ | 3.71% |
| ASB SUBORDINATED NOTES (JUNE 2032) | Bonds | New Zealand fixed interest | NZ | 3.30% |
| LEND LEASE (MAY 2026) | Bonds | International fixed interest | AU | 3.28% |
| NZ GOVT INFLATION LINKED (SEP 2035) | Bonds | New Zealand fixed interest | NZ | 2.89% |
| KIWIBANK (OCT 2027) | Bonds | New Zealand fixed interest | NZ | 2.89% |
| ANZ GROUP SUBORDINATED NOTES (AUG 2032) | Bonds | International fixed interest | AU | 2.81% |
Full list of investments this fund holds
INCOME (FND321) Full portfolio holdings 31 Mar 2024.csv
A complete list of the fund's holdings
Fees
Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. You can compare these with fees for the average defensive managed fund (in grey).
Fees breakdown
Here's a breakdown of the different charges in this fund (in purple), compared to the average defensive managed fund (in grey).
| Fee Type | % Over a Year | Amount Paid on a 10K Balance |
|---|---|---|
ManagementThis fee is charged to you by the fund manager on the fund or an underlying fund, and is based on a percentage of your balance. |
0.65%
AVG: 0.55%
|
$65.00
AVG: $55.27
|
OtherThis is a summary of other potential costs not covered in the categories displayed. |
0.11%
AVG: 0.09%
|
$11.00
AVG: $8.52
|
Performance-basedThese fees are based on the performance of the fund or underlying fund. When the fund performs well, these will be higher. |
None
AVG: 0.03%
|
$0.00
AVG: $2.78
|
MembershipYou pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance. |
0.00%
AVG: 0.03%
|
$0.00
AVG: $2.92
|
Total combined feesThese are a total of management and administration charges and performance-based fees over a year. They do not necessarily include fees for activities like transferring or withdrawing. |
0.76%
AVG: 0.69%
|
$76.00
AVG: $69.49
|
Returns
For the past five years, this fund returned this average each year to investors (in green). This was after fees and taxes (28% PIR) were taken out. To compare, you can see the average return over the same time for all defensive managed funds (in grey).
Yearly returns
These annual returns (in green) were for the 12 months up to 31 March 2024. You can compare them to the average defensive managed fund (in grey).
Risks
Specific risks for this fund
Chasing higher returns while investing always increases risks. Several kinds of risks, actually. It is important to evaluate whether the returns are worth it, whether you can cope, and whether this investment will in fact help you achieve your goals. Also, since the way an investment is structured can make it riskier, it's important to understand how it works.
You'll find the specific risks in the Risk section of the PDS, and here's more about understanding risk.
Product Disclosure Statement - QuayStreet Funds (19 April 2024).pdf
How this investment works, including about the provider, risks, costs and potential returns
Risk indicator
This is a gauge of how volatile this investment has been – how much it has gone up and down in value. It has been calculated based on the fund's five-year performance (or an appropriate market index if it has not been around that long).
The left side of this range of numbers indicates a Lower risk
The right side of this range of numbers indicates a Higher risk
- 1
- 2
- 3
- 4
- 5
- 6
- 7
The left side of this range of numbers indicates
Potentially
lower returns
The right side of this range numbers indicates
Potentially
higher
returns
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
Product Disclosure Statement - QuayStreet Funds (19 April 2024).pdf
How this investment works, including about the provider, risks, costs and potential returns
Fund update (most recent)
This update from the provider lets you see much of the same information shown here in Smart Investor: how this fund is performing, what it costs and the investments it currently holds.
Income.pdf
The quarterly update published by the provider
Complete asset portfolio
Browse through the complete list of investments held by this fund.
INCOME (FND321) Full portfolio holdings 31 Mar 2024.csv
A complete list of the fund's holdings
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
QuayStreet Funds_Other Material Information_15 August_FINAL.pdf
QuayStreet-Funds-Other-Material-Information_10 May-2019.pdf
QuayStreet Funds - OMI - 23 December 2019.pdf
QuayStreet Funds - OMI - 1 April 2020 .pdf
QuayStreet Funds - OMI 1 July 2020 .pdf
QuayStreet Funds OMI - 30 September 2020.pdf
QuayStreet Funds OMI - 15 March 2021.pdf
QuayStreet Funds OMI - 30 June 2021 final.pdf
QuayStreet Funds OMI - 6 September 2021.pdf
QuayStreet Funds Other Material Information 29 September 2021.pdf
QuayStreet Funds OMI - 13 December 2021.pdf
QuayStreet Funds Other Material Information 26 July 2022.pdf
QuayStreet Funds OMI - 28 October 2022.pdf
QSAM SRI Policy September 2022 final.pdf
QSAM Responsible Investment Policy September 2022 final.pdf
QuayStreet Funds OMI 23 November 2022.pdf
QuayStreet Funds - Other Material Information 23 February 2023.pdf
QuayStreet - Socially Responsible Investment Policy.pdf
QuayStreet - Responsible Investment Policy.pdf
Product Disclosure Statement - Smartshares CIP Funds (19 April 2024).pdf
Other Material Information - Smartshares CIP Funds (19 April 2024).pdf
Other Material Information - QuayStreet Funds (19 April 2024).pdf
Statement of investment policy and objectives (SIPO)
A SIPO tells you where the fund managers are coming from. It sets out the governance and management framework, philosophy, strategies and objectives for this investment.
QuayStreet Funds & Smartshares CIP Funds - Statement of Investment Policy and Objectives (19 April 2024).pdf
Strategies and objectives for this investment
Key personnel
These are the directors and employees who have the most influence on investment decisions for this fund.
| Name | Current position | Time in role |
|---|---|---|
| ALISTER JOHN WILLIAMS | Director | 8 years, 4 months |
| STUART KENNETH REGINALD MILLAR | Chief Investment Officer - Smartshares | 4 years, 10 months |
| STEFAN STEVANOVIC | Head of International Equities | 1 year, 1 month |
| XAVIER WATERSTONE | Head of Australasian Equities | 1 year, 1 month |
| ROSS HUNT | Head of Fixed Income Interest and Cash | 1 year, 2 months |
Additional details
Manager details
Name
CIP INVESTMENT MANAGEMENT LIMITED
Type
NZ Limited Company
NZBN
9429033184531
FSP Number
Supervisor
Name
THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED
Fund details
Asset liquidity ratio
1.00%
Total value of fund
$201,931,768.00
Debt ratio
0.06%
Continuous issue
Yes
Default KiwiSaver
No
Lifecycle option
No
Multi-fund option
No
Schedule 1 exemption
No
FMA exemption
No
Number of members
0
Reference numbers
Fund
FND321: INCOME
Offer
OFR10416: QUAYSTREET FUNDS
Scheme
SCH10414: QUAYSTREET FUNDS
Next steps
Want to know more about this investment or how it compares to others? Have a look at its peers.
Product disclosure statement
Take a deeper dive into the PDS, which has essential details about this offer and the company providing it. Here's more on how to read a PDS.
Fund update (most recent)
These are provided to members of the fund (usually once each quarter) to update them on its performance.
Getting investment advice
Good advice is gold. Everyone can benefit from expert advice, provided the adviser has your interests at heart. Here's how to find one and key questions to ask.
Interested in investing in this offer? Visit the provider's website.