New Zealand Equities Fund
Overview
Invests mostly in New Zealand shares, and can invest in Australian listed shares, where the company has meaningful operations in New Zealand. Aims to achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/NZX50 Gross with Imputation Index. These investments typically have moderate to high levels of movement up and down in value.
Unit Price
4.5224 NZD
Month End Unit Price
4.5643 NZD
The unit prices shown do not take into account any adjustment for PIE tax.
Buy/sell spreads may apply when transacting. There are currently none.
Manager's Comment
How did your portfolio perform?
The New Zealand Equities Fund delivered a gross return of 2.63% during August, comfortably outperforming the Fund’s benchmark return of 1.67% by 0.96%.
For the 12 months to the end of August, the Fund delivered a gross return of 11.85%, significantly outperforming the Fund’s benchmark return of 8.40% by 3.45%.
Major Investments
| Company name | % of fund |
|---|---|
| Fisher & Paykel Healthcare Corporation Limited | 16.59% |
| Infratil Limited | 9.09% |
| Auckland International Airport Limited | 8.26% |
| Mainfreight Limited | 4.66% |
| Contact Energy Limited | 4.51% |
| Ebos Group Limited | 4.41% |
| Spark New Zealand Limited | 4.27% |
| Meridian Energy Limited | 3.84% |
| The a2 Milk Company Limited | 2.91% |
| Mercury NZ Limited | 2.70% |
| Major holdings as % of total portfolio | 61.24% |
Monthly Performance
Quarterly Performance
Performance over time
Return Comparison
| 1 Month | 3 Months | 1 Year | *3 Years | *Since commenced operation | |
|---|---|---|---|---|---|
| Net Fund Return | 1 Month 2.53% | 3 Months 6.49% | 1 Year 10.56% | *3 Years 6.69% | *Since commenced operation 9.97% |
| Gross Fund Return | 1 Month 2.63% | 3 Months 6.80% | 1 Year 11.85% | *3 Years 7.94% | *Since commenced operation 10.71% |
| S&P/NZX 50 Gross with Imputation Index | 1 Month 1.67% | 3 Months 5.25% | 1 Year 8.40% | *3 Years 7.23% | *Since commenced operation 8.63% |
*Annualised
Net Fund Returns are calculated before deduction of taxes but after deduction of fund charges and trading expenses and including imputation credits where available. Prior to October 2022 Net Fund Returns were calculated after deduction of fund charges, trading expenses and accrued tax for a New Zealand resident paying individual tax at the highest Prescribed Investor Rate (28%). Gross Fund Returns are calculated before deduction of taxes and fund charges but after deduction of trading expenses and including imputation credits where applicable. Market index returns do not have any deductions for fund charges, trading expenses or tax.
The S&P/NZX 50 Gross with Imputation Index (“Index”) is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Forsyth Barr Limited. Copyright © 2015 S&P Dow Jones Indices LLC, a subsidiary of McGraw Hill Financial Inc., and/or its affiliates. All rights reserved. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
Fund update
As at 30 June 2026
This document tells you how the New Zealand Equities Fund has performed and what fees were charged. The document will help you to compare the fund with other funds. (Please note that this fund was previously known as the Forsyth Barr New Zealand Equities Fund, and that Fund Updates may refer to the fund by that name.)
General Fund Information
Risk indicator
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Potentially higher returns
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Lower risk
Higher risk
The risk indicator is rated from 1 (low) to 7 (high). The rating reflects how much the value of the relevant fund’s assets goes up and down (volatility). A higher risk generally means higher potential returns over time, but more ups and downs along the way. The risk indicator is based on the returns data for the five years to 30 June 2026. See more information about the risks of investing in the Product Disclosure Statement.
Target investment mix
| Cash and cash equivalents | 5.00% |
| New Zealand fixed interest | 0.00% |
| International fixed interest | 0.00% |
| Australasian equities | 85.00% |
| International equities | 0.00% |
| Listed property | 10.00% |
Things to note
- Manager: Salt Investment Funds Limited
- Investment manager: Octagon Asset Management Limited
- Date the fund started: 26 June 2008
- Tax status: Portfolio Investment Fund (PIE)
- Minimum suggested investment time frame: At least five years
- Benchmark: S&P/ NZX50 Gross with Imputation Index
- Currency: New Zealand dollars
View the Product Disclosure Statement for detailed information about this Fund and Octagon Investment Funds Scheme.
Fees
- Annual fund charges are currently 1.15% p.a. of the value of your investment. We pay management and administration charges along with the Supervisor fee out of this. All fees and charges are quoted exclusive of GST.
Important resources
Other Material Information
Other Material Information PDF (742 KB)
Annual report and financial statement
PIE information
Guide To PIE
PIR Flow Diagram
Advantages Of PIE
Governing documents
Salt Investment Funds Limited is the issuer and Octagon Asset Management Limited the investment manager of the Octagon Investment Funds. The comments on this webpage do not take your personal circumstances into account. Before acting on any information on this webpage, we recommend you seek financial advice. Past performance is not a reliable guide to future performance. Salt Investment Funds Limited, Octagon Asset Management Limited and their affiliates do not make any representation or warranty (express or implied) that this webpage is accurate, complete, or current and to the maximum extent permitted by law disclaim any liability for loss which may be incurred by any person relying on this webpage. This webpage is not intended to be distributed or made available to any person in any jurisdiction where doing so would constitute a breach of any applicable laws or regulations.
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