What do each of the column headings mean for the fund manager table?
Sector:
Sector refers to the type of asset the managed fund invests into, such as a diversified fund, cash fund, listed property fund, etc.
PDS Fee:
The PDS fee is the annual management fee estimate as stated in the Product Disclosure Statement (PDS) for this fund.
QFU Fee:
The Quarterly Fund Update (QFU) Fee is the latest actual fee charged by the fund in its most recent financial year, as stated in the fund’s most recent Quarterly Fund Update.
Buy/Sell Spread:
When you buy or sell units in a fund, you may be charged a buy or sell spread, which is a fee. The buy spread (fee) is added to the unit price of the fund when you buy units, and the sell spread (fee) is deducted from the unit price when you sell units. These fees represent costs incurred by the Fund Manager to process your buy or sell order.
1 Month, 3 Month, 6 Months, 12 Months, 1 Year, 3 Years, 5 Years, 10 Years:
These are performance periods for the performance figures that are stated. Periods above 1 year represent annualised performance.
Risk Indicator:
The risk indicator is the risk rating of a fund, which is rated from 1 (low) to 7 (high). The risk indicator ranges from defensive (being less volatile and more conservative) to aggressive at the upper end (being more volatile and less conservative).
Target Growth/Income Assets:
The portion of growth assets (such as shares, property, etc) that the fund targets relative to income assets (such as cash and bonds).
Management Style:
Management style outlines whether the fund is actively or passively managed. Active management involves identifying mispriced securities with the goal of generating returns above the market index, while passive management broadly aims to track rather than outperform the chosen market index.
Fund Type:
Managed Funds on InvestNow are classified as either Multi-Rate Portfolio Investment Entities (PIE), Listed Portfolio Investment Entities (Listed PIE) or Australian Unit Trusts (AUT).
Each of these constitute different managed fund structures which among other things will impact the tax treatment of the fund. PIEs are taxed at the investor’s Prescribed Investor Rate of either 0%, 10.5%, 17.5% or 28%, while Listed PIEs are taxed at a flat 28% rate. AUTs are overseas based investments and fall under the Foreign Investment Fund (FIF) tax regime, which taxes investment income at the investor’s marginal income tax rate of either 10.5%, 17.5%, 30%, 33% or 39%.
Net Assets:
Represents the Fund’s total Funds Under Management (FUM) in millions.
Inception Date:
This is the date of when the fund was first created.
Distribution Frequency:
This is the frequency that any distributions will be paid out. This could be monthly, quarterly, annually, etc.
Buy Timeframe:
Indicative number of business days for your buy order to be processed.
Sell Timeframe:
Indicative number of business days for your sell order to be processed.
Smart Investor:
Smart Investor is a tool from Sorted, used to find and compare managed funds and other regulated investment offers in New Zealand.
External website:
This is the link to the fund managers website where you can learn more about them and their funds.
PDS:
PDS stands for Product Disclosure Statement. The PDS contains relevant information about the fund.