Article written by InvestNow – 4th October 2021

For those investors in one or more of the Hunter Investment Management range of funds, for your managed funds and/or KiwiSaver portfolio, below are two important updates with regards to the ownership and management of these funds.

Hunter Global Fixed Interest Fund

Here is the announcement from Harbour Asset Management:

“…As of 30 September, Harbour will become the manager and issuer of the Hunter Global Fixed Interest Fund.

Many clients have benefitted from our partnership with T. Rowe Price in global equities, and we have been keen for some time to provide a sustainable, tax efficient global bond PIE Fund to clients. We know Harbour’s strengths lie in Australasian equities & fixed income, and multi-asset solutions. Our approach for global asset classes is to partner with experts so our clients can gain exposure to the best global managers.

The Hunter Global Fixed Interest Fund is a New Zealand based PIE Fund, with investments managed by PIMCO. Portfolio management is undertaken by PIMCO’s global bond team led by Andrew Balls in London, with Sachin Gupta in Newport Beach, California. Responsible investing is a core element of this fund…”

On Thursday 30th September 2021, the fund manager for this fund was changed from Hunter Investment Management to Harbour Asset Management. A new PDS for this fund is also now available – see here.

Hunter Balanced Fund and the Hunter Growth Fund

We are really pleased to announce that, on the 30th September 2021, these funds were rebranded and are now called the Foundation Series Investment Funds. The Hunter Balanced Fund is now the Foundation Series Balanced Fund and Hunter Growth Fund is now the Foundation Series Growth Fund.

InvestNow has taken over making the day to day fund investment decisions from Hunter Investment Management Limited for these two funds. This includes selecting the underlying specialist investment managers that the Foundation Series Balanced and Growth Funds use, as well as setting the investment objectives and benchmarks of the funds. Note that none of these features have changed, so it is business as usual. The funds remain invested in exactly the same way and you don’t need to do anything at all in regards to this.

A new PDS for these funds is now available – see here.

If you have any questions with regards to either of these announcements please do not hesitate to contact us.