The Foundation Series Hedged Total World 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 to provide long-term capital growth by investing in an underlying exchange-traded fund (ETF) that provides exposure to a broad range of international equities. The Fund invests across large, mid-sized and small companies in both developed and emerging markets worldwide while targeting a fully hedged foreign currency position relative to the New Zealand dollar.
Investment Manager
InvestNow Saving and Investment Service Limited.
Investment Policy and Objectives
The Fund provides investors with access to a low-cost, globally diversified portfolio of international equities through an underlying ETF selected by InvestNow. 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.
Investment Strategy
The Fund invests in an ETF that holds shares of large, mid-sized and small companies listed on stock markets around the world. The Fund seeks broad global equity market exposure and targets a fully hedged foreign currency position relative to the New Zealand dollar to reduce the impact of exchange rate movements on investment returns.
InvestNow's investment philosophy is based on the following principles:
Strategic asset allocation is an important driver of long-term investment returns and risk outcomes.
Diversification across regions, markets and securities can help reduce investment risk.
Broad market exposure can be achieved efficiently through low-cost investment vehicles.
Regular portfolio monitoring and rebalancing help maintain the desired investment exposure.
Fees are an important consideration as they directly impact investor returns.
Benchmark
FTSE Global All Cap 100% Hedged to NZD Net Tax (US RIC) Index
Minimum Investment Timeframe
7+ 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.
