# Bentham Global Income PIE Fund

> Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings.

- **Manager:** Bentham (Bentham Asset Management)
- **Asset class:** International Fixed Interest
- **Risk profile:** conservative
- **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%)
- **Confidence tier:** C (Sorted Smart Investor → FMA Disclose)
- **Last verified:** 2026-05-22

## Summary

The Bentham Global Income PIE Fund is a international fi managed fund run by Bentham. Australian global credit specialist offering global income and global opportunities PIE funds to NZ investors.

## Fund data

- **Annual fund charge:** 0.83% p.a. (from the latest Quarterly Fund Update)
- **Risk indicator:** 3/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk)
- **Fund size (AUM):** NZ$180 million
- **Asset mix:** 0% growth assets · 100% income assets
- **Fund started:** 11 April 2023
- **Minimum initial investment:** NZ$50,000

## Top 10 holdings

1. Cash — 10.70%
2. Derivatives (FX/IR Hedges, Credit Derivatives) — 7.60%
3. Province of British Columb 5.20% 14/05/2036 GOVT S — 1.48%
4. New South Wales Treasury C 3.50% 20/11/2037 GOVT G — 1.33%
5. PUMA FINANCE PTY LTD 0.8% 18/01/2057 MBS — 1.21%
6. Export-Import Bank of Kore 4.80% 05/03/2031 AGEN S — 1.06%
7. Nederlandse Waterschapsban 4.80% 05/08/2031 AGEN S — 1.04%
8. Queensland Treasury Corp 3.37% 18/03/2036 GOVT GG — 1.01%
9. New South Wales Treasury C 2.50% 22/11/2032 GOVT G — 0.93%
10. South Australian Governmen 24/11/2031 FRN SEN UNSE — 0.93%

Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register.

## How to invest

Available via: InvestNow, Bentham directly. Read the current Product Disclosure Statement (PDS) before investing.

## Sources

- **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Bentham%20Global%20Income%20PIE%20Fund
- **Product Disclosure Statement:** /disclose-document/40b53b4fe53574b6/20260401-Bentham-Investment-Funds-PDS.pdf
- **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH13506/OFR13510/FND43027/
- **Manager website:** https://www.benthamam.com.au

## Citations (authoritative primary sources)

- FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ)
- Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities
- Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html
- Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/

## This file

- **Canonical HTML:** https://managedfunds.nz/funds/bentham/global-income/
- **Markdown (this file):** https://managedfunds.nz/funds/bentham/global-income/markdown.md
- **Structured data (JSON):** https://managedfunds.nz/funds/bentham/global-income/data.json
- **First published:** 2026-05-08
- **Last refreshed:** 2026-05-22
- **Reuse licence:** citation with link back to the canonical HTML is granted. No paid redistribution. Full terms: https://managedfunds.nz/llms-policy.txt

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ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.