Devon Equity Income Fund

Click here to download the Devon Equity Income Fund Fact Sheet


The Devon Equity Income Fund (“the Fund”) consists of a select group of up to 25 New Zealand and Australian listed companies. These stocks are chosen for their attractive dividend yields and growth prospects with the aim of maintaining the dividend yield and capital value in real terms.

Investment Objective



The Fund invests in a well-researched portfolio of shares that are consistent with the objective of a long-term investor looking to invest for the purpose of:

  • Dividend yield
  • Some growth to maintain the dividend yield and capital values in real terms

Investment Approach

We identify and invest in attractively priced companies that offer a sustainable and growing dividend yield.


Investment Limits

0 – 100% New Zealand shares

0 – 100% Australian shares

0 – 10% Cash (for liquidity purposes)

Distributions

Target distributions of 1.25% per quarter after tax


Structure

Portfolio Investment Entity (PIE)


Currency Hedging Policy

The Fund will typically be fully hedged


Suitability

Suitable for New Zealand investors who want an actively managed, concentrated, exposure to the New Zealand and Australian stock markets. Given the nature of this investment, we recommend a minimum investment period of at least five years.




The Lonsec Limited (“Lonsec”) ABN 56 061 751 102 rating (assigned July 2013) presented in this document is a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) and based solely on consideration of the investment merits of the financial product(s). It is not a “personalised service” (as defined in the Financial Advisers Act 2008 (NZ)) and does not constitute a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec may receive a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.


A prospectus for the Devon Equity Income Fund was registered with the Registrar of Financial Service Providers on 10 September 2013. A copy of the prospectus can be obtained (at no charge) by contacting Devon using the “Contact Us” tab. Alternatively the prospectus can be viewed online on the Companies Office website at www.business.govt.nz/companies under the file for Devon Funds Management Limited.