The Foundation Series Growth Fund (the Fund) is a PIE-compliant New Zealand-domiciled fund within the Foundation Series Funds Scheme. FundRock NZ Limited is the issuer and manager of the Fund, and InvestNow Saving and Investment Service Limited (InvestNow) is the investment manager.
The Fund aims for high long-run returns by investing in a diversified portfolio weighted towards growth assets but with some exposure to income assets. The Fund incorporates certain responsible investment considerations and is exposed to investment strategies that seek to limit exposure to companies involved in specific business practices.
Investment Manager
InvestNow Saving and Investment Service Limited.
Investment Policy and Objectives
The Fund aims for high long-run returns by investing in a diversified portfolio weighted towards growth assets but with some income asset exposure.
The Fund’s objective is to perform broadly in line with the return of its investment benchmark before fees and tax over the long term. The Fund’s long-term returns are likely to be higher and less stable than those of the Foundation Series Balanced Fund.
Investment Strategy
The Fund invests in a diversified portfolio of income and growth assets through underlying funds selected by InvestNow. The target asset allocation is:
Cash and cash equivalents (2%)
New Zealand fixed interest (3%)
International fixed interest (15%)
Australasian equities (23%)
International equities (57%)
The Fund incorporates responsible investment considerations through underlying funds that apply investment strategies designed to limit exposure to companies involved in certain business practices.
Key investment beliefs include:
Diversification across asset classes, regions and securities can help manage investment risk.
Strategic asset allocation is a key driver of long-term investment outcomes.
Regular portfolio rebalancing helps maintain the intended level of risk exposure.
Costs are an important determinant of long-term investment returns.
Responsible investment considerations can enhance portfolio construction and risk management.
Benchmark
The investment benchmark is the weighted average return of the applicable asset class benchmark indices.
Minimum Investment Timeframe
6 years.
Further Information
Fund updates for previous quarters are available on the Disclose Register. Choose ‘Search for an offer’ and search for ‘Foundation Series Funds’ as the Offer name at https://disclose-register.companiesoffice.govt.nz.
