Castle Point 5 Oceans Fund
Managed by Castle Point Castle Point 5 Oceans Fund is a diversified managed fund operated by Castle Point; PIE-structured; FMA risk indicator 3/7. Headline terms: annual fund charge 1.29% · minimum investment NZ$10,000 · distributions monthly. Compared with 66 other same-category funds on this site, the 1.29% annual fund charge sits above the same-category median of 0.99%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.18%
vs peer avg 1.10%
Risk indicator
3/7
1 = lower risk · 7 = higher risk
5-year return p.a.
3.85%
peer avg 3.77%
Fund size
NZ$78.9m
53% growth · 47% income
The Fund is designed to generate returns, with the objective of outperforming the NZ Official Cash Rate by +3% over the medium term (after fees but before tax), with some risk mitigation tools to smoothen the ride.
Benchmark track record
Compare Diversified consistency →How Castle Point 5 Oceans Fund performed against its own market-index benchmark each year, after fees and tax — from the FMA fund-update dataset. Historical track record, not current-year performance; past performance is not a guide to the future.
Beat its benchmark in 2 of 5 years
annual returns to 30/06/2022Since inception: 5.3% p.a. after fees & tax vs benchmark 5.53%.
How Castle Point 5 Oceans Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- NZ Official Cash Rate + 3%
- Top 3 holdings
- Te Ahumairangi Global Equity Fund (28.1%) · T. Rowe Price DYN GLB Bond FD AU (17.4%) · Daintree Core Income Trust NZD (17.4%)
Key facts
Fund start date
25 October 2016
Min. investment
NZ$10,000
Subsequent: NZ$1,000
Distributions
Monthly
Buy / sell spread
30 bps (0.30%) / 30 bps (0.30%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Performance fee
From the Product Disclosure Statement.
Performance fee paid (last published): 0.21%
A performance-based fee is payable if, in respect of each half-year period ending 31 March and 30 September, the investment performance of the Ranger Fund exceeds the NZ Official Cash Rate + 5% (hurdle rate of return), subject to the high water mark. Amount: 15% of the Ranger Fund's return above the hurdle rate of return, plus applicable GST. A perpetual high-water mark applies; the high water mark cannot be reset by us and is the same for all clients.
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Cash and cash equivalents | 10% | 0% | 70% |
| New Zealand fixed interest | 5% | 0% | 70% |
| International fixed interest | 30% | 0% | 70% |
| Australasian equities | 19.5% | 0% | 50% |
| International equities | 29% | 0% | 70% |
| Listed property | — | 0% | 50% |
| Unlisted property | — | 0% | 50% |
| Other | 6.5% | 0% | 100% |
| Overall growth assets | — | 30% | 70% |
| Overall income assets | — | 30% | 70% |
Responsible-investment approach
ESG measures are incorporated into the research process via three approaches: positive screening (actively seeking investments with long-term positive ESG attributes), negative screening/blacklisting (excluding sectors, industries, companies and practices with materially negative ESG attributes), and research and engagement to understand historical or current issues and actions being taken. Castle Point is a founding signatory to the Stewardship Code Aotearoa New Zealand and a signatory to the UNPRI.
Exclusions
- Sectors, industries, companies and practices with materially negative ESG attributes (as maintained on the blacklist by the Investment Committee)
Derivatives policy
Derivatives can only be used in accordance with the investment strategy of each fund for risk management, hedging (including currency), and implementing investment opportunities. A counterparty assessment and approval process is maintained and a list of approved counterparties is kept by the compliance team.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- Castle Point runs two active funds (Ranger Fund and 5 Oceans Fund) and charges a performance fee of 15% (plus GST) of returns above the NZ Official Cash Rate plus 5% per half-year period.
- Castle Point applies a perpetual high-water mark to both funds, meaning performance fees are only charged on returns above the highest previously crystallised unit price.
- Castle Point states the high-water mark cannot be reset by the manager and is the same for all investors in each fund, regardless of when they invested.
Generated 2026-05-29 from Castle Point Funds PDS (dated 2026-03-31). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
How this fund compares to peers
Mechanical comparison vs the 67 other diversified funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
1.18%
Category median: 0.99%
Mid-pack — cheaper than 29% of peers
5y return p.a. (after fees)
+3.85%
Category median: +3.27%
Above peer median (63th percentile)
Fund size
NZ$78.9m
Category median: NZ$57.5m
57th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$576
Compounded charge over 5 years (excl. returns)
$91 more than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| TA Te Ahumairangi Global Equity Fund | 28.15% |
| TR T. Rowe Price DYN GLB Bond FD AU | 17.40% |
| DC Daintree Core Income Trust NZD | 17.35% |
| SG Schroder Global Value Fund Unhedged | 14.74% |
| KC Kohinoor Core Class B | 5.22% |
| BN BNZ NZD current account | 2.44% |
 Fisher & Paykel Healthcare Ltd | 1.57% |
 Infratil Ltd | 1.13% |
 Contact Energy Ltd | 0.96% |
 Auckland International Airport Ltd | 0.95% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- CASTLE POINT 5 OCEANS FUND (FND1223) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 2.91 KB
- 2026 04 PDS Ranger.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.48 MB
- 5 Oceans Fund update 31 March 2026.pdf The quarterly update published by the provider PDF, 1.85 MB
- 2026 04 PDS 5 Oceans.pdf Additional product disclosure statement from the provider PDF, 1.43 MB
- 2026 04 PDS Trans Tasman.pdf Additional product disclosure statement from the provider PDF, 1.31 MB
- SIPO 2026 03.pdf Statement of investment policy and objectives PDF, 1.33 MB
About this category
Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
About Castle Point
Wellington-based active manager with concentrated trans-Tasman and global multi-asset funds.
See all funds from Castle Point →Common questions
Questions people ask about Castle Point 5 Oceans Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
What are typical fees for a fund of funds?
Castle Point 5 Oceans Fund charges an annual fund charge of 1.18% p.a., which is 0.12 percentage points above the peer-cohort average of 1.06% p.a. for diversified funds. For a full breakdown of how fees are calculated and what they cover, see the fund's latest Product Disclosure Statement on the Castle Point website or FMA Disclose register.
Which funds have the lowest fees?
You can compare annual fund charges across funds in our coverage using the fee filter at managedfunds.nz/compare. Castle Point 5 Oceans Fund's annual fund charge is 1.18% p.a.; peer-cohort data is available on FMA Disclose for context.
What is a reasonable ETF management fee?
Fund fees vary by asset class, fund structure, and strategy. For Castle Point 5 Oceans Fund specifically, the annual fund charge of 1.18% p.a. covers the cost of managing a diversified portfolio. You can compare this against other funds in the same category using our comparison tool.
Head-to-head
Compare Castle Point 5 Oceans Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Diversified funds
FMA risk band
Same risk band (3/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 3 funds →AI & integrations
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Castle Point 5 Oceans Fund?
Castle Point 5 Oceans Fund is managed by Castle Point. Wellington-based active manager with concentrated trans-Tasman and global multi-asset funds.
What asset class is the Castle Point 5 Oceans Fund?
It is a diversified managed fund. The fund has a balanced risk profile. Multi-asset funds that hold a mix of shares, bonds, cash and sometimes property in a single portfolio. The mix determines the risk profile — aggressive funds hold more shares, conservative funds hold more bonds and cash.
What are the fees for the Castle Point 5 Oceans Fund?
The annual fund charge for the Castle Point 5 Oceans Fund is 1.18% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Castle Point 5 Oceans Fund?
The risk indicator is 3/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Castle Point 5 Oceans Fund a PIE fund?
Yes. The Castle Point 5 Oceans Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Castle Point 5 Oceans Fund?
Fund size (assets under management) is NZ$79 million as at the latest Quarterly Fund Update. Asset mix is approximately 53% growth assets and 47% income assets.
What does the Castle Point 5 Oceans Fund invest in?
The latest published top holdings are: Te Ahumairangi Global Equity Fund (28.15%), T. Rowe Price DYN GLB Bond FD AU (17.40%), Daintree Core Income Trust NZD (17.35%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Castle Point 5 Oceans Fund?
The Castle Point 5 Oceans Fund is available via Castle Point directly. Always read the current Product Disclosure Statement before investing.
What are typical fees for a fund of funds?
Castle Point 5 Oceans Fund charges an annual fund charge of 1.18% p.a., which is 0.12 percentage points above the peer-cohort average of 1.06% p.a. for diversified funds. For a full breakdown of how fees are calculated and what they cover, see the fund's latest Product Disclosure Statement on the Castle Point website or FMA Disclose register.
Which funds have the lowest fees?
You can compare annual fund charges across funds in our coverage using the fee filter at managedfunds.nz/compare. Castle Point 5 Oceans Fund's annual fund charge is 1.18% p.a.; peer-cohort data is available on FMA Disclose for context.
What is a reasonable ETF management fee?
Fund fees vary by asset class, fund structure, and strategy. For Castle Point 5 Oceans Fund specifically, the annual fund charge of 1.18% p.a. covers the cost of managing a diversified portfolio. You can compare this against other funds in the same category using our comparison tool.