There are some aspects of this fund which may require extra consideration before deciding to invest.

Single asset class

Single-class funds, also called "single-sector", hold only one kind of investment (e.g. just shares or just bonds).

See the mix for this investment

Mix

This is the actual mix of growth assets (shares, property) and income assets (bonds, cash) that this fund held on 30 September 2024. The average mix for defensive managed funds is in grey.

Mix

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).

Fees

Returns

Returns (in green) show how much this fund has grown in value in five years up to 30 September 2024 – after fees and taxes. Compare with the average defensive managed fund (in grey).

Returns

Key facts

Here is what the provider says about this managed fund

The underlying investment exposure is predominantly to debt securities issued by supranationals, international governments, quasi-government agencies and corporates as well as structured credit securities including mortgage-backed and asset backed securities. The underlying investment portfolio may also be exposed to low grade or unrated debt securities, emerging market securities and currency. Derivatives may be used to obtain or reduce exposure to securities and markets, to implement investment strategies and to manage risk. Corporate debt with more than 25% revenue from coal power generation or thermal coal production is prohibited. The Fund targets a position of being fully hedged back to New Zealand Dollars. Due to active currency management by the underlying managers, there will generally be some foreign currency exposure.

Provider website

fundrock.com

Minimum investment

$5,000

Fund start date

21 December 2011

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 30 September 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 Shares assets
ACTUAL TARGET AVERAGE
Total 0.00% 0.13%
International shares 0.00% 0% 0.08%
Australasian shares 0.00% 0% 0.05%

About shares

Buying shares gives you part ownership in a company and can bring returns from your share of the profits (dividends) or from selling the shares for more than you paid. Shares are growth assets and are also known as equities or stock. Here's more on the basics of shares.

Breakdown on Property assets
ACTUAL TARGET AVERAGE
Total 0.00% 0.11%
Listed property 0.00% 0% 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 3.89% 0.17%
Commodities 0.00% 0% 0.00%
Other 3.89% 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 86.80% 71.96%
New Zealand bonds 1.66% 0% 36.39%
International bonds 85.14% 100.00 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 9.32% 27.64%
Cash and equivalents 9.32% 0% 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 22.76% of this fund.

Asset Asset class Type Country % of Fund
INTL BK RECON & DEVELOP Bonds International fixed interest US 1.07%
US TREASURY N/B Bonds International fixed interest US 1.20%
FNCL 6 10/24 Bonds International fixed interest US 1.27%
FNCL 5.5 10/24 Bonds International fixed interest US 1.34%
MEX BONOS DESARR FIX RT Bonds International fixed interest MX 1.61%
TREASURY BILL Bonds International fixed interest US 1.78%
TREASURY BILL Bonds International fixed interest US 1.79%
US DOLLAR Cash Cash and equivalents US 1.92%
TSY INFL IX N/B Bonds International fixed interest US 3.38%
NEW ZEALAND DOLLAR CASH Cash Cash and equivalents NZ 7.40%

Full list of investments this fund holds

csv, 28 KB

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

Management

This 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.

0.53%
AVG: 0.55%
$53.00
AVG: $55.27

Other

This is a summary of other potential costs not covered in the categories displayed.

0.06%
AVG: 0.09%
$6.00
AVG: $8.52

Performance-based

These 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

Membership

You 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 fees

These 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.

0.59%
AVG: 0.69%
$59.00
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.

pdf, 261 KB

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.

pdf, 261 KB

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.

pdf, 468 KB

Additional disclosure documents

These are more documents from the provider that can contain interesting information.

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xlsx, 238 KB
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xlsx, 253 KB
pdf, 366 KB
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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.

pdf, 412 KB

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
GERARD FITZPATRICK Senior Portfolio Manager, Head of Fixed Income, Russell Investments 5 years, 7 months

Additional details

Manager details

Name

FUNDROCK NZ LIMITED

Type

NZ Limited Company

Website

NZBN

Supervisor

Name

PUBLIC TRUST

Fund details

Asset liquidity ratio

100.00%

Total value of fund

$533,253,150.00

Debt ratio

2.04%

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

FND448: RUSSELL INVESTMENTS GLOBAL FIXED INTEREST FUND

Offer

OFR10646: RUSSELL INVESTMENT FUNDS

Scheme

SCH10586: RUSSELL INVESTMENT FUNDS

Next steps

Want to know more about this investment or how it compares to others? Have a look at its peers.

This is a

defensive managed fund

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. fundrock.com