TOWER Cash Fund Fund Profile Sheet

Description of the Fund

The Fund invests into a low risk portfolio of high quality New Zealand cash securities, including debt securities issued by or guaranteed by a local authority or the New Zealand government. Interest is accrued daily within the Fund.

The fund may gain its investment exposure by investing into other managed funds, including other funds managed by a company in the Fisher Funds Group.

As at 27 June 2013 the Fund gains its investment exposure via directly held investments.

The Fund is a multi-rate Portfolio Investment Entity (PIE). For information on PIEs, please refer to the Investment Statement, or please click here.

Objective of the Fund

To provide investors with a competitive return from a portfolio of high quality cash securities and preserve their capital through prudent investment management.

The benchmark of the Fund is the ANZ 90 Day Bank Bill Gross Index.

Who is the Fund suitable for?

Investors who seek a low-risk cash PIE with competitive returns and withdrawal flexibility. 

Investment Statement

Before you make a decision to invest, please read the TOWER Investment Series Investment Statement and then complete the application form found at the back of the Investment Statement.

Note: all fees in the Investment Information table below are stated as a percentage of funds under management except for the Entry fee which is a percentage of your initial investment and any subsequent investments and the Trustee Fee which is a percentage of the Fundís gross asset value.

Fund particulars

Launched:April 2008
Fund type:Group Investment Funds (Category A)

Investment Information

Entry Fee (excluding GST):Nil
Exit Fee (excluding GST):Nil
Management Fee (p.a. excluding GST):0.60% (inclusive of the Trustee Fee)
Custody Fee (p.a. excluding GST):0.02%
Trustee Fee (p.a. excluding GST):0.05%
Minimum Investment:$5,000
Minimum Additional Investment:$1,000
Minimum Regular Investment (per month):$250
Minimum Withdrawal:$500
Minimum Account Balance:$5,000

Portfolio breakdown as at 31 December 2013+

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+The portfolio breakdown above is updated monthly and may change slightly during the month.

Fund performance as at 31 December 2013*

3 months:0.56%
1 year:2.43%
3 years (p.a.):2.48%
5 years (p.a.):2.62%
7 years (p.a.):n/a
Since inception (p.a.):3.13%

Data used is calculated before tax and entry fees which may vary between investors but after management fees. Performance figures have been annualised for periods greater than 1 year. Distributions, if any, are assumed to be reinvested. Returns are in NZ dollars. Investors are reminded that past performance is not necessarily indicative of future returns.

Value of $10,000 invested since April 2008 as at 31 December 2013

Data used is calculated before tax and entry fees (which may vary between investors) but after management fees. Distributions, if any, are assumed to be reinvested. Returns are in NZ dollars. Please note that the chart's vertical axis does not begin at $0. Investors are reminded that past performance is not necessarily indicative of future returns.

Disclaimer

This information may not be reproduced or distributed to any other person.  It is not a securities recommendation, nor does it contain financial advice nor is it intended to provide advice to investors. In preparing this information, no individual investor's personal circumstances have been taken into account. This document should not be relied upon as the basis for an investment decision. Investors considering investing in the Fund must obtain a copy of the current Investment Statement and are advised to consult their financial adviser (their financial adviserís disclosure statement is available on request and free of charge). Neither TOWER Managed Funds Limited, the Trustee, nor any other person or company guarantees or promises the repayment of, or returns on, investments in the Fund.


For more information please talk to your financial adviser, email us at investments@tower.co.nz or call us on 0800 379 372.

© 2013 TOWER Managed Funds Limited and its related companies. All rights reserved.