New Zealand Growth Fund

    Investments in your backyard

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    Unit price

    $13.0374

    as at 14/06/2024
    See fund overview

    Performance chart

     

    Fund performance figures are after deductions for charges but before tax. Please note that past performance is not necessarily indicative of future returns. Returns can be positive or negative, and returns over different time periods may vary. No returns are promised or guaranteed.

    Fund highlights

    May 2024

    The New Zealand Growth Fund was virtually unchanged at +0.01% in May versus the S&P/NZX 50 gross index which was down -0.8%.

    Electricity companies Contact Energy (+6%) and Meridian Energy (+13%) announced 20-year agreements to supply power to the Tiwai Point aluminium smelter. The smelter consumes around 12% of New Zealand’s electricity and many new electricity generation projects have been effectively on hold pending confirmation of the smelter's future (with no new generation immediately required if it had shut down). The certainty also means the companies will likely be able to commit to a higher level of dividends, supported by higher earnings from better pricing in the new agreement.

    Delegat (-31%) announced it concluded its 2024 harvest with grape tonnage down around 25% versus the prior year as cooler growing conditions reduced yields. This will mean the company needs to reduce its case sales volumes in the 2025 financial year and carefully manage inventories to navigate the outcome. While unfortunate, as a viticulture company Delegat has navigated similar shortfalls in the past, such as 2015 and gone on to grow volumes and profits over time. The large share price reaction reflects the likelihood of a meaningful step down in profit in 2025, before a recovery.

    Portfolio Team

      Our Managed Funds

      • Conservative Fund

        Aims to provide stable returns over the long term by investing mainly in income assets with a modest allocation to growth assets.

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      • Growth Fund

        Aims to grow your investment over the long term by investing mainly in growth assets.

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      • Income Fund

        Aims to provide stable returns over the long term by investing in New Zealand and international fixed interest assets.

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      • Property & Infrastructure Fund

        Focuses on growth of your investment over the long term by investing in New Zealand and international property and infrastructure assets.

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      • New Zealand Growth Fund

        Focuses on growth of your investment over the long term by investing in quality New Zealand companies which can consistently produce increasing earnings.

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      • Australian Growth Fund

        Focuses on growth of your investment over the long term by investing in quality Australian companies which can consistently produce increasing earnings.

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      • International Growth Fund

        Focuses on growth of your investment over the long term by investing in quality international companies which can consistently produce increasing earnings.

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