OneAnswer KiwiSaver Scheme Australasian Share Fund

Fund report as at 30 September 2018

 

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How has the fund performed?

What does the fund invest in?

What sort of fund is this?

How has the fund performed?

Performance as at 30 September 2018

3 months

1 year

3 years (pa)

5 years (pa)

Since launch

4.67%

18.54%

18.16%

14.44%

8.36%

Performance is after the annual fund charge, and before tax and membership fees (if applicable). For more information, see legal information and disclaimers.

What happened this quarter (3 months to 30 September 2018)

  • New Zealand shares were strong performers on the global stage this quarter. The NZX 50 Index was up 4.6%, helping push the market to an all-time high. Across the Tasman, the ASX 200 Index delivered a more lacklustre performance of 0.2%, as a somewhat ‘average’ reporting period weighed on investor sentiment.
  • The fund’s long-standing overweight in Ryman Healthcare had the biggest beneficial impact on performance. Its shares rose almost 17%, benefiting from the overall strength in healthcare stocks, a result of strong underlying demographic trends. This saw its shares hit a record high.
  • The fund’s nil weighting in Fonterra Shareholders’ Fund was also of benefit, as its shares fell to a three-year low. The milk co-operative group downgraded its financial forecasts for this year and announced some senior leadership changes. This included the appointment of a new Chairman and an interim CEO for when current incumbent Theo Spierings steps down.
  • Detracting from returns were the fund’s underweight positions in TradeMe Group and EBOS Group – two of the better-performing stocks over the quarter. Shares in EBOS, a medical products provider, jumped on news it had won a tender to supply a large chain of Australian chemist stores. Meanwhile, shares in Trade Me rose following a solid earnings result and news it was returning capital to shareholders.

Need more information?

  • Read our Market Review for more information on investment markets
  • Key read: why it’s wise not to try to time the market or chase returns

What does the fund invest in?

In the table below, the ‘target investment mix’ shows the mix of assets the fund generally intends to invest in.

Investment mix as at 30 September 2018

Asset class

Target
investment mix

Actual
investment mix

Cash and cash equivalents

0.0%

0.1%

Australasian Equities

100.0%

99.9%

 

What sort of fund is this?

Fund description

Invests mainly in New Zealand and Australian equities. Investments may include:

  • equities in companies that are listed or intend to list on the New Zealand or Australian stock exchanges, and
  • cash and cash equivalents

Target investment mix

The mix of assets that the fund generally intends to invest in.

See the fund's actual investment mix in the table above.

Fund objective

Aims to achieve a positive yearly return (after the fund charge and before tax) that over the long term outperforms the relevant market index.