Forsyth Barr Investment Funds Forsyth Barr Funds Management Limited provides investors with access to eight Investment Funds: Forsyth Barr New Zealand Equities Fund containing a portfolio of New Zealand equities Forsyth Barr Australian Equities Fund containing a portfolio of Australian equities Forsyth Barr Trans-Tasman Equities Fund blending a portfolio of New Zealand and Australian equities Forsyth Barr Global Equities Fund blending a portfolio of international equities Forsyth Barr NZ Fixed Interest Fund containing a range of interest rate securities Forsyth Barr Local Authority Fund containing a range of Local Authority securities Forsyth Barr Premium Yield Fund blending a range of global interest rate securities Forsyth Barr Listed Property Fund blending a portfolio of select New Zealand and Australian listed property securities Forsyth Barr Socially Responsible Investment Fund containing a portfolio of equity securities consistent with socially responsible investment principles Forsyth Barr New Zealand Equities Fund Fund Objectives and Strategy To maximise the capital returns available from investing in New Zealand listed shares by targeting absolute returns. This is a high conviction, “benchmark unaware” Fund. Stock selection will be influenced by the research screens developed by the Forsyth Barr Research team with portfolio stock selections revolving around securities the Manager chooses to own rather than what is prescribed by any particular index. The portfolio will be actively traded as appropriate given the tax free status of trading under the PIE regime. The Fund will be fully invested with cash holdings limited to 10% of the Fund or that required for transactional purposes. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long–term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments New Zealand listed shares, unit trusts, investment trusts, equity hybrid securities and cash. The Fund may also invest in shares intended to be listed on the New Zealand Exchange (NZX) within 12 months of investment and may participate in underwriting and sub-underwriting agreements. Cash may be held in Registered Banks (rated A-1 or higher by S&P), or the Forsyth Barr Cash Management Trust. The Fund is permitted to use derivatives. Derivatives, however, cannot be used to lever the Fund in any manner, or create a contingent liability for the Fund. Management and Performance Fee In addition to the annual base management fee of 1.25%, the Manager is entitled to a Performance Fee equal to 10% of the Fund’s trust fund value plus GST where the Fund’s performance exceeds the benchmark hurdle rate, which is currently 10% per annum calculated on a daily (business day) compounded basis, over the previous financial year of the Fund (performance criteria). Any performance fee will be calculated daily and paid in arrears at the end of each financial year of the Fund. The performance fee is cumulative, and is accrued in the calculation of the trust fund value of the Fund, and paid from the assets of the Fund. If the Fund does not meet the performance criteria then a performance fee will not be payable to the Manager, and there will be no impact on the trust fund value. The formula for calculating the performance fee is set out in the Establishment Deed for the Fund. Performance fees are paid annually in arrears. Entry Fee 1% of each contribution. Exit Fee On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top  A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Australian Equities Fund Fund Objectives and Strategy To maximise the capital returns available from investing in Australian listed equities by targeting absolute returns. This is a high conviction, “benchmark unaware” Fund. Stock selection will be influenced by the research screens adopted by the Manager with portfolio stock selections revolving around securities the Manager chooses to own rather than what is prescribed by any particular index. The portfolio will be actively traded as appropriate given the tax free status of trading under the PIE regime. The Fund will be fully invested with cash holdings limited to 10% of the Fund or that required for transactional purposes. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long-term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments Australian listed shares, unit trusts, investment trusts, equity hybrid securities and cash. The Fund may also invest in shares intended to be listed on the Australian Securities Exchange (ASX) within 12 months of investment and may participate in underwriting and sub-underwriting agreements. Cash may be held in Registered Banks (rated A-1 or higher by S&P), the Forsyth Barr Cash Management Trust in New Zealand dollars or the Forsyth Barr Cash Management Fund in Australian dollars. The Fund is permitted to use derivatives. Derivatives, however, cannot be used to lever the Fund in any manner, nor create a contingent liability for the Fund. Management and Performance Fee In addition to the annual base management fee of 1.25% p.a. of the Fund’s assets, the Manager is entitled to a Performance Fee equal to 10% of the Fund’s trust fund value plus GST where the Fund’s performance exceeds the benchmark hurdle rate, which is currently 10% per annum calculated on a daily (business day) compounded basis, over the previous financial year of the Fund (performance criteria). Any performance fee will be calculated daily and paid in arrears at the end of each financial year of the Fund. The performance fee is cumulative, and is accrued in the calculation of the trust fund value of the Fund, and paid from the assets of the Fund. If the Fund does not meet the performance criteria then a performance fee will not be payable to the Manager, and there will be no impact on the trust fund value. The formula for calculating the performance fee is set out in the Establishment Deed for the Fund. Performance fees are paid annually in arrears. Entry Fee 1% of each contribution. Exit Fee On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Trans-Tasman Equities Fund Fund Objectives and Strategy To deliver investors the benefits of prudent investing into an actively managed portfolio of Trans-Tasman equities. The Manager’s strategy is to identify mispriced opportunities in underpriced or overpriced sectors from which superior returns can be generated, over the medium-term. Whilst the Manager will be mindful of the relevant benchmark compositions, the Fund will be “benchmark unrestricted” in terms of stock selection. At times the portfolio composition will reflect substantial departures from the theoretical benchmark composition. The Fund will also employ a currency hedging policy to hedge Australian assets back into New Zealand dollars. The Fund will be fully invested with cash holdings limited to 10% of the Fund or that required for transactional purposes. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long– term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments New Zealand and Australian listed shares, unit trusts, investment trusts or similar investment vehicles, warrants, rights, contributory shares, equity hybrid securities and cash. The Fund may also invest in shares intended to be listed on the New Zealand Exchange (NZX) or Australian Securities Exchange (ASX) within 12 months of investment and may participate in underwriting and sub-underwriting agreements up to 10% of the Fund value in total. Cash may be held in Registered Banks (rated A-1 or higher by S&P), or the Forsyth Barr Cash Management Trust in New Zealand dollars or the Forsyth Barr Cash Management Fund in Australian dollars. The Fund is permitted to use derivatives. Derivatives, however, cannot be used to lever the Fund in any manner, nor create a contingent liability for the Fund. Management Fee An annual management fee of 1.50% p.a. of the Fund’s assets is payable to the Manager. Entry Fee 1% of each contribution. Exit Fee On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Global Equities Fund Fund Objectives and Strategy To maximise the capital returns available from investing in internationally listed equities. The Fund will typically invest via a number of international equity managers. Performance will be driven by stock selection which in turn will be influenced by the proprietary research capabilities of each of the selected international equity managers. The managers selected will be expected to actively manage their portfolios although all managers will take a medium to long-term view in their investment outlook. The Fund will be partially hedged back into New Zealand dollars with a benchmark of 50% hedging. The Fund will be fully invested with cash holdings limited to 10% of the Fund or that required for transactional purposes. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long–term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments Selected international equity managers may invest in (or have their funds limited to investing in) international listed shares, unit trusts, investment trusts, equity hybrid securities, cash and shares intended to be listed on a recognised international stock exchange within 12 months of investment. Cash may be held in Registered Banks (rated A-1 or higher by S&P), or the Forsyth Barr Cash Management Trust. The Fund may use derivatives to establish an exposure to a market, or to increase or decrease the exposure created through physical investments. Derivatives, however, cannot be used to lever the Fund in any manner, nor create a contingent liability for the Fund. Management Fee An annual management fee of up to 1.50% p.a. of the Fund’s assets is payable to the Manager where the Manager is directly responsible for the investment of the Fund’s portfolio. An annual management fee of up 0.5% p.a. of the Fund’s assets is payable to the Manager where the Manager outsources the investment of the Fund’s portfolio to external international equity managers. Entry Fee 1% of each contribution. Exit Fee Nil. On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227).  Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr NZ Fixed Interest Fund Fund Objectives and Strategy To provide a gross return above the NZX Government Stock Index return, on a rolling 12 month basis. Duration, yield curve and credit strategies will be employed to achieve this objective. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long– term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments The Fund may invest in New Zealand Government Stock, New Zealand denominated securities of overseas Governments and international institutions, New Zealand Local Authority Stock, New Zealand State Owned Entities Securities, Investment Grade Corporate Securities, Floating Rate Notes, Fixed-rate Securities, Asset Backed Securities, New Zealand Registered Bank Short-Term Securities and cash. The Fund may invest in the Forsyth Barr Cash Management Trust. The Fund is permitted to use derivatives. Derivatives, however, cannot be used to lever the Fund in any manner, nor create a contingent liability for the Fund.  Management Fee An annual management fee of 0.75% p.a. of the Fund’s assets is payable to the Manager. Entry Fee 1% of each contribution. Exit Fee Nil. On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Local Authority Fund Fund Objectives and Strategy To provide a gross return of 0.50% above the NZX Local Authorities Index return, on a rolling 12 month basis. Duration, yield curve and credit strategies will be employed to achieve this objective. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long– term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments The Fund invests in New Zealand Government Stock or New Zealand Government Treasury Bills, New Zealand Local Authority Stock, Registered Bank Short Term Securities, promissory notes, securities whose direct credit risk is directly or indirectly that of a New Zealand Local Authority and cash. The Fund is permitted to use derivatives. Derivatives, however, cannot be used to lever the fund in any manner, nor create a contingent liability for the Fund. Borrowing by the Fund is not permitted. Management Fee An annual management fee of 0.75% p.a. of the Fund’s assets is payable to the Manager. Entry Fee 1% of each contribution. Exit Fee On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Transaction Fee The Manager may apply a Transaction Fee to any purchase or sale of units in the Fund to cover the consequential costs of the sale or purchase of the underlying assets in the Fund. The transaction fee is the average cost of buying or selling the underlying assets (as determined by the Manager) and applied pro rata, based on the number of units being bought or sold. The Manager may apply a higher transaction fee than the average costs of transactions where the nature of the specific sale or purchase in question means the actual costs of the transaction would not be met if the average transaction costs were charged. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Premium Yield Fund Fund Objectives and Strategy To provide a gross return 1.5% above the NZX 90 Day Bank Bill Return on a long-run compound average basis. The Fund will invest into a diversified portfolio of higher performing global fixed interest securities. The Fund shall have a disciplined investment approach as reflected in the Authorised Investments. Fund outperformance opportunities will arise from a combination of capturing attractive credit margins, providing global credit conditions are generally supportive, along with more defensive positioning in more risk adverse conditions. Total exposure limits to individual issuers will be prudently managed as per the investment guidelines. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long–term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Where possible, each underlying security will be priced in New Zealand dollars. However, where it is advantageous to price an asset in another currency, and swap the proceeds into New Zealand dollars, then this will occur. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments The Fund may invest in a diversified portfolio of global fixed interest securities, which may extend across AAA rated Sovereign Debt of major countries, Emerging Market Sovereign Debt, single name High-Yielding Corporate Debt, Collateralised Loan Obligations (CLOs), Credit Opportunity Funds (COFs) and Collateralised Debt Obligations (CDOs), where the underlying security or collateral are either senior secured loans of established companies or synthetically generated exposure to the same. Other assets may consist of New Zealand dollar cash deposits, registered bank certificates of deposit, bonds, commercial paper, New Zealand dollar floating rate notes (FRNs), loans, convertible securities, reset securities, hybrid debt/equity securities, structured credit FRNs, credit linked securities, index linked notes, preference shares, high yielding bonds/notes and other evolving structured credit instruments. The Fund may invest up to 30% of the Fund’s assets in sovereign debt of emerging markets, and up to 90% of the Fund’s assets in sovereign debt issued by any major economy. There will be no retail generated Asset Backed Securities (ABSs) in the portfolio, no pooled retail receivables such as mortgages, hire purchase, car loans, credit card or other retail consumer credit facility forms. Cash may be held in Registered Banks (rated A-1 or higher by S&P), the Forsyth Barr Cash Management Trust in New Zealand dollars or the Forsyth Barr Cash Management Fund in Australian dollars. Management Fee An annual management fee of 1.25% p.a. of the Fund’s assets is payable to the Manager.  Entry Fee 1% of each contribution. Exit Fee If capital funds are withdrawn during the first 24 months, an exit fee of 1% may be charged. This is at the Manager’s discretion. Thereafter, no exit fees will apply. On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request.  Take the Next Step – find out more or apply now  Back to top  A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227).  Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Listed Property Fund Fund Objectives and Strategy To provide long-term capital growth through investing in a diversified portfolio of listed New Zealand and Australian property securities. Stock selection will be influenced by the research screens adopted by the Manager with portfolio stock selections revolving around securities the Manager chooses to own rather than what is prescribed by any particular index. The portfolio will be actively traded as appropriate given the tax free status of trading under the PIE regime. The Fund will be fully invested with cash holdings limited to 10% of the Fund or that required for transactional purposes. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long–term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments Listed securities of companies, unit trusts, investment trusts, equity hybrids in the NZX Property or ASX300 Property Index, and cash. The Fund may also invest in property securities intended to be listed on the Australian or New Zealand Stock Exchange within 12 months of investment and may participate in underwriting and sub-underwriting agreements. Cash may be held in Registered Banks (rated A-1 or higher by S&P), or the Forsyth Barr Cash Management Trust. The Fund is permitted to use derivatives. Derivatives, however, cannot be used to lever the Fund in any manner, nor create a contingent liability for the Fund. Management Fee An annual management fee of 1.25% p.a. of the Fund’s assets is payable to the Manager. Entry Fee 1% of each contribution. Exit Fee Nil. On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Take the Next Step – find out more or apply now Back to top   A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge. Forsyth Barr Socially Responsible Investment Fund Fund Objectives and Strategy To maximise the capital returns available from investing in international and domestic equity securities of entities that operate in accordance with socially responsible principles and social values. The Fund provides investors with access to a multimanager approach to integrate socially responsible principles and long-term investment objectives. The Manager can elect to invest the Fund’s assets in its own capacity and will be responsible for selection of country or individual market exposures, and for investments into New Zealand and Australian equity securities. The Fund will typically invest with a number of international equity managers, each of whom will have an established track record of applying a socially responsible approach to screening and selecting stocks for investment portfolios. The Fund will be fully invested with cash holdings limited to 10% of the Fund or that required for transactional purposes. Minimum Recommended Investment Time-frame Investors should regard this as a medium to long–term investment of three to five years. Currency The Fund will be priced in New Zealand dollars. All applications and redemptions will be in New Zealand dollars. Unit Pricing Daily. Your Investment Advisor can provide you with details of the latest unit price for the Fund. Authorised Investments The Fund may be invested across a number of international equity managers selected by the Manager. The Fund may invest in listed shares, unit trusts, investment trusts, equity hybrid securities and cash. Cash may be held in Registered Banks (rated A-1 or higher by S&P), or the Forsyth Barr Cash Management Trust. The Fund may use derivatives to establish an exposure to a market, or to increase or decrease the exposure created through physical investments. There are no geographical or other sector constraints on where the Fund may invest. Management Fee An annual management fee of up to 1.50% p.a. of the Fund’s assets is payable to the Manager where the Manager is directly responsible for the investment of the Fund’s portfolio. An annual management fee of up to 0.5% p.a. of the Fund’s assets is payable to the Manager where the Manager outsources the investment of the Fund’s portfolio to external international equity managers. Entry Fee 1% of each contribution. Exit Fee Nil. On standing redemptions, an exit fee of 1% on the amount withdrawn will apply. The Manager has the discretion to waive this. Further detail relating to each of the Forsyth Barr Investment Funds is set out in the product summary for each Fund, which is available from the Manager on request. Investment Statement Take the Next Step – find out more or apply now Back to top  A copy of the Forsyth Barr Investment Funds Investment Statement and Prospectus is available by calling 0800 Forbar (0800 367 227). Disclosure statements for Forsyth Barr Limited and its Investment Advisors are available on request and free of charge.