RUSSELL INVESTMENTS

New Zealand Fixed Interest Fund

Total Net Assets

$131.2M

as of 31/1/2024

Fund Inception Date

14/02/2013

Performance
AS OF 31/01/2024
Latest Month Last 3 months Year to Date 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception

Source data: Bloomberg. Please see disclaimer for further details and full benchmark history. Net of fee performance assume highest possible Total Annual Fund Charge (see PDS). Past performance is no indication of future performance.

Historical distributions

EX-DATE INCOME DIVIDEND  RE-INVEST NAV
29/09/23 0.01 1.0873
31/03/23 0.01 1.1224
30/09/22 0.01 1.1020
31/03/22 0.01 1.1562
30/09/21 0.01 1.2295
31/03/21 0.01 1.2525
30/09/20 0.01 1.3224
31/03/20 0.01 1.2676
30/09/19 0.01 1.2818
29/03/19 0.01 1.2430
28/09/18 0.01 1.2060
29/03/18 0.01 1.1898
29/09/17 0.01 1.1732
31/03/17 0.01 1.1576
Portfolio

Top 10 Issuers

As of 31/12/2023

Country Weight INDEX 
New Zealand Government Bond 36.79% 63.92%
New Zealand Local Government Funding Agency Bond 5.39% 6.86%
Housing New Zealand Ltd 4.59% 2.59%
New Zealand Government Inflation Linked Bond 3.77% 0.00%
Bank of New Zealand 3.56% 0.00%
Westpac New Zealand Ltd 3.16% 0.00%
Auckland Council 2.51% 0.44%
Kiwibank Ltd 2.34% 0.00%
International Bank for Reconstruction & Development 2.06% 1.09%
Asian Development Bank 1.94% 0.44%

Strategic manager allocations

As at 28/06/2019

Description Allocation Manager Style
Harbour Asset Management Short-term local rates 50.00%
Western Asset Management Medium-term thematic strategy 50.00%
Key Facts

Portfolio Manager

Clive Smith

Fund Inception Date

14/02/2013

Benchmark

Bloomberg NZ Bond Composite 0+ Index (TR)

Dealing Frequency

Daily

BUY SPREAD

0.10%

As of 31 Mar 2022

SELL SPREAD

0.15%

As of 31 Mar 2022

EX-DATE

31/3/2023

Dividend distribution

0.01

FEES – MANAGER EXCL. GST

0.40%

FEES – IN-FUND COSTS*

0.09%

FEES – ESTIMATED TOTAL ANNUAL FUND CHARGES**

0.49%

Statistics
As of 31/12/2023

3-YEAR BETA

1.00

5-YEAR BETA

1.00

3-YEAR VOLATILITY

5.21%

5-YEAR VOLATILITY

4.69%

3-YEAR TRACKING ERROR

0.37%

5-YEAR TRACKING ERROR

0.75%

EFFECTIVE DURATION

4.42

YIELD TO WORST

4.58%

AVERAGE LIFE

5.10

AVERAGE CREDIT RATING

AA

 
Literature

 

Implemented Investment Solutions Limited is the issuer of the funds on this page and Russell Investment Group Limited (RIGL) is the investment manager. Other useful information about these funds is available on the relevant fund’s offer register entry at www.companiesoffice.govt.nz/disclose.

The information on this page has been prepared for the purpose of providing general information, without taking into account your objectives, financial situation or needs and should not be relied upon in making an investment decision. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation or needs. Please consult your financial adviser. This information has been compiled from sources considered to be reliable, but is not guaranteed. Net Returns above assume highest management fee. Any potential investor should consider the relevant Product Disclosure Statement in deciding whether to acquire, or continue to hold units in a fund.

RIGL is part of Russell Investments. Russell Investments' ownership is composed of a majority stake held by funds managed by TA Associates, with a significant minority stake held by funds managed by Reverence Capital Partners. Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.

Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom, and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith.

Benchmark changes: As at 28 Jun 2019 the index changed to the Bloomberg NZ Bond composite index. From December 2014 through to June 2019 the benchmark was 75:25 weighted average of the S&P/NZX NZ Government Stock Index and S&P/NZX A-Grade Corporate Index. Prior to December 2014 the benchmark was the S&P/NZX NZ Government Stock Index.

Performance figures assume reinvestment of income. The benchmark return shown does not include any fees and is not intended to be an indicator of the return to an investor. Performance data is provided for informational purposes only and is not intended to imply a recommendation about a product or form the basis for making an investment decision.