10/6/2020 11:00:00 PM

Fund Reviews: Diversified

Written by Mike Taylor,  Executive Director, Founder & CEO;


A solid month for the Conservative Fund amidst shifting winds in market sentiment. I’m pretty happy with the performance up 0.34%. The Fund benefited from an underweight position in equities, as global stock markets retreated, and modest performance was added via our fixed interest exposure, as interest rates continued to decline in NZ.

The Fund now has built up a strong book of NZ fixed interest ranging from Z Energy 2021 bonds to Auckland Council 30 year and everything in between, with yields ranging from 0.95% to 2.95%.

German-listed HelloFresh, the meal-kit provider, was the best performing equity holding for the month while a sharp pullback in gold removed the shine from ASX-listed Newcrest and Ramelius. The fund is continuing to see strong inflows from investors, so I am keeping some powder dry (in the form of cash) for potential opportunities around the US election.

The September distribution for the Conservative Fund has been paid and should now be showing in your investor portal.

Past performance is not an indicator for future performance. This is not intended to be financial advice and does not take into account any particular person’s circumstances. Before relying on this information, please speak to an independent financial adviser. Pie Funds is the issuer of the Pie Funds Management Scheme. For access to the PDSs, please click here.

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Fund Reviews: Diversified
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