{
  "schemaVersion": "1.1",
  "canonicalUrl": "https://managedfunds.nz/funds/castle-point/5-oceans/",
  "fetchedAt": "2026-06-20T08:25:17.138Z",
  "fund": {
    "slug": "5-oceans",
    "name": "Castle Point 5 Oceans Fund",
    "managerSlug": "castle-point",
    "category": "diversified",
    "riskProfile": "balanced",
    "isPie": true,
    "isEtf": null,
    "ticker": null,
    "isHedged": null,
    "isResponsibleInvestment": null,
    "isThematic": null,
    "isFifNotPie": null,
    "shortDescription": null,
    "availableVia": [
      "direct"
    ],
    "dataStatus": "pending-ingestion"
  },
  "manager": {
    "slug": "castle-point",
    "name": "Castle Point",
    "legalName": null,
    "parent": null,
    "website": "https://castlepoint.co.nz",
    "hq": "Wellington"
  },
  "category": {
    "slug": "diversified",
    "name": "Diversified Funds",
    "shortName": "Diversified"
  },
  "metrics": {
    "status": "ok",
    "matchScore": 3,
    "sortedFundName": "CASTLE POINT 5 OCEANS FUND",
    "sortedManager": "PG FUNDS LIMITED castlepointfunds.com",
    "sortedUrl": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10745/OFR10746/FND1223/",
    "fetchedAt": "2026-05-22T02:43:19.299Z",
    "source_doc": "sorted/SCH10745/OFR10746/FND1223",
    "source_doc_date": "2026-05-22",
    "source_doc_url": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10745/OFR10746/FND1223/",
    "source_tier": "C",
    "riskIndicator": 3,
    "annualFundChargePct": 1.18,
    "peerAvgFeePct": 1.1,
    "fiveYearReturnPct": 3.85,
    "peerAvg5YearReturnPct": 3.77,
    "growthAssetsPct": 53.15,
    "incomeAssetsPct": 46.85,
    "fundSizeNzd": 78855809.2,
    "pdsUrl": "/disclose-document/7785322a9542268e/2026-04-PDS---Ranger.pdf",
    "strategySummary": "“\n                            The Fund is a globally diversified fund that provides a moderate exposure to growth assets. \nThe Fund invests in a mix of directly owned assets, other Castle Point funds and selected third-party funds. \n\nThe Fund is designed to generate returns, with the objective of outperforming the NZ Official Cash Rate +3% over the medium term (after fees but before tax), with some risk mitigation tools to smoothen the ride.\n                            ”",
    "topHoldings": [
      {
        "asset": "Te Ahumairangi Global Equity Fund",
        "assetClass": "Shares",
        "type": "International Equities",
        "country": "NZ",
        "weightPct": 28.15
      },
      {
        "asset": "T. Rowe Price DYN GLB Bond FD AU",
        "assetClass": "Bonds",
        "type": "International Fixed Interest",
        "country": "AU",
        "weightPct": 17.4
      },
      {
        "asset": "Daintree Core Income Trust NZD",
        "assetClass": "Bonds",
        "type": "International Fixed Interest",
        "country": "AU",
        "weightPct": 17.35
      },
      {
        "asset": "Schroder Global Value Fund Unhedged",
        "assetClass": "Shares",
        "type": "International Equities",
        "country": "AU",
        "weightPct": 14.74
      },
      {
        "asset": "Kohinoor Core Class B",
        "assetClass": "Other",
        "type": "Other",
        "country": "IE",
        "weightPct": 5.22
      },
      {
        "asset": "BNZ NZD current account",
        "assetClass": "Cash",
        "type": "Cash and Cash Equivalents",
        "country": "NZ",
        "weightPct": 2.44
      },
      {
        "asset": "Fisher & Paykel Healthcare Ltd",
        "assetClass": "Shares",
        "type": "Australasian Equities",
        "country": "NZ",
        "weightPct": 1.57
      },
      {
        "asset": "Infratil Ltd",
        "assetClass": "Shares",
        "type": "Australasian Equities",
        "country": "NZ",
        "weightPct": 1.13
      },
      {
        "asset": "Contact Energy Ltd",
        "assetClass": "Shares",
        "type": "Australasian Equities",
        "country": "NZ",
        "weightPct": 0.96
      },
      {
        "asset": "Auckland International Airport Ltd",
        "assetClass": "Shares",
        "type": "Australasian Equities",
        "country": "NZ",
        "weightPct": 0.95
      }
    ],
    "fundStartDate": "25 October 2016",
    "minimumInvestmentNzd": 10000,
    "documents": [
      {
        "label": "CASTLE POINT 5 OCEANS FUND (FND1223) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 2.91 KB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/full-portfolio/FND1223/CASTLE-POINT-5-OCEANS-FUND-FND1223-Full-portfolio-holdings-31-March-2026.xlsx"
      },
      {
        "label": "2026 04 PDS Ranger.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.48 MB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/7785322a9542268e/2026-04-PDS---Ranger.pdf"
      },
      {
        "label": "5 Oceans Fund update 31 March 2026.pdf The quarterly update published by the provider PDF, 1.85 MB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/7e40b0291357a43f/5-Oceans-Fund-update-31-March-2026.pdf"
      },
      {
        "label": "2026 04 PDS 5 Oceans.pdf Additional product disclosure statement from the provider PDF, 1.43 MB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/1227847b83f0bc4e/2026-04-PDS---5-Oceans.pdf"
      },
      {
        "label": "2026 04 PDS Trans Tasman.pdf Additional product disclosure statement from the provider PDF, 1.31 MB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/ff7589b06dd9881f/2026-04-PDS---Trans-Tasman.pdf"
      },
      {
        "label": "SIPO 2026 03.pdf Statement of investment policy and objectives PDF, 1.33 MB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/3c69ad15c9c3b276/SIPO---2026-03.pdf"
      }
    ]
  },
  "pdsExtract": {
    "fund_name": "Castle Point 5 Oceans Fund",
    "objective": "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": "NZ Official Cash Rate + 3%",
    "risk_indicator": 3,
    "is_pie": true,
    "is_hedged": true,
    "asset_allocation": {
      "growth_assets_pct": null,
      "income_assets_pct": null,
      "equities_pct": null,
      "fixed_income_pct": null,
      "cash_pct": null,
      "property_pct": null,
      "other_pct": null
    },
    "fees": {
      "annual_fund_charge_pct": 1.29,
      "performance_fee_pct": 0.21,
      "performance_fee_terms": "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.",
      "buy_spread_bps": 30,
      "sell_spread_bps": 30,
      "member_fee_nzd": null
    },
    "minimum_investment_nzd": 10000,
    "minimum_subsequent_nzd": 1000,
    "distribution_frequency": "monthly",
    "source_paragraph": "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. The Fund pays a fixed monthly distribution to investors.",
    "_match": {
      "score": 1,
      "extractFundName": "Castle Point 5 Oceans Fund",
      "ourFundName": "CASTLE POINT 5 OCEANS FUND"
    },
    "_provenance": {
      "scheme_id": "SCH10745",
      "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/1227847b83f0bc4e/2026-04-PDS---5-Oceans.pdf",
      "source_doc_date": "2026-03-31",
      "source_tier": "A",
      "pdf_hash": "b358f1512393a045b3e44613b61e584175cda1ce7df3c105347ca0de29ef6ce2",
      "extracted_at": "2026-05-27T23:34:30.316Z"
    }
  },
  "sipoExtract": {
    "scheme_policies": {
      "investment_philosophy": "Superior returns can be generated by investing with a long-term perspective and a focus on avoiding permanent loss of capital. The philosophy seeks to exploit market inefficiencies arising because investors focus on recent past performance, underestimate capital flow effects (Value opportunity), and underestimate the duration of excess returns for growth companies (Quality opportunity).",
      "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.",
      "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.",
      "rebalancing_policy": "Asset allocation of each fund is monitored daily to account for market movements and any inflows and outflows. Rebalancing occurs if allocations have deviated sufficiently from desired levels to justify trading costs; if limits set out in Section 4 are breached, the fund must be rebalanced to within permitted limits within 5 business days unless written Supervisor approval is obtained.",
      "currency_hedging_policy": "While funds have discretion to leave foreign currency exposures unhedged, the default position is to use forward foreign exchange contracts and/or hedging in underlying funds to hedge foreign currency exposure. Target hedging levels are indicative only and not binding ranges.",
      "liquidity_policy": "Fund liquidity is constantly monitored by Portfolio Managers and traders to ensure sufficient liquidity to meet redemptions and expenses. The Investment Committee monitors liquidity risk metrics and stress testing using an Identify, Measure, Monitor and Manage framework. Each fund is permitted to borrow up to 15% of fund value for settlement mismatches, withdrawal/sale mismatches, or expense/fee shortfalls; explicit leverage is not permitted."
    },
    "scheme": {
      "scheme_name": "Castle Point Funds Scheme",
      "manager_name": "PG Funds Limited",
      "sipo_version_date": "2026-03-27",
      "sipo_review_cadence": "annually"
    },
    "fund": {
      "fund_name": "Castle Point 5 Oceans Fund",
      "objective_verbatim": "The Fund is designed to generate returns, with the objective of outperforming the NZ Official Cash Rate +3% over the medium term (after fees but before tax), with some risk mitigation tools to smoothen the ride.",
      "benchmark": "Composite: S&P/NZX Bank Bills 90-Day Index (10%), Bloomberg NZBond Credit 0-5Yr Index (5%), Bloomberg AusBond Bank Bill Index Hedged NZD (30%), S&P/NZX 50 Index inc Imputation Credits (9.75%), S&P/ASX All Ordinaries Index 100% hedged to NZD (9.75%), MSCI World 75% Hedged to NZD (29%), S&P/NZX Bank Bills 90-Day Index for Other (6.5%)",
      "investment_horizon_years": 3,
      "permitted_assets": [
        "Cash and cash equivalents (call accounts, term deposits up to 12 months, commercial paper, government department deposits)",
        "New Zealand fixed interest (government bonds, corporate bonds, unlisted debt max 10% of NAV)",
        "International fixed interest (government bonds, corporate bonds, unlisted debt max 10% of NAV)",
        "Australasian equities (listed equities, options, warrants, futures)",
        "International equities (listed equities, options, warrants, futures)",
        "Other (tail risk assets including options and hedge funds, carbon credits)",
        "Forward foreign exchange contracts",
        "Managed Investment Schemes (whose assets are permitted investments)"
      ],
      "asset_allocation_ranges": [
        {
          "asset_class": "Cash and cash equivalents",
          "target_pct": 10,
          "min_pct": 0,
          "max_pct": 70
        },
        {
          "asset_class": "New Zealand fixed interest",
          "target_pct": 5,
          "min_pct": 0,
          "max_pct": 70
        },
        {
          "asset_class": "International fixed interest",
          "target_pct": 30,
          "min_pct": 0,
          "max_pct": 70
        },
        {
          "asset_class": "Australasian equities",
          "target_pct": 19.5,
          "min_pct": 0,
          "max_pct": 50
        },
        {
          "asset_class": "International equities",
          "target_pct": 29,
          "min_pct": 0,
          "max_pct": 70
        },
        {
          "asset_class": "Listed property",
          "target_pct": null,
          "min_pct": 0,
          "max_pct": 50
        },
        {
          "asset_class": "Unlisted property",
          "target_pct": null,
          "min_pct": 0,
          "max_pct": 50
        },
        {
          "asset_class": "Other",
          "target_pct": 6.5,
          "min_pct": 0,
          "max_pct": 100
        },
        {
          "asset_class": "Overall growth assets",
          "target_pct": null,
          "min_pct": 30,
          "max_pct": 70
        },
        {
          "asset_class": "Overall income assets",
          "target_pct": null,
          "min_pct": 30,
          "max_pct": 70
        }
      ],
      "exclusions": [
        "Sectors, industries, companies and practices with materially negative ESG attributes (as maintained on the blacklist by the Investment Committee)"
      ],
      "tilts": [
        "Investments with long-term positive ESG attributes (positive screening)",
        "Diversification across growth and defensive assets and across countries",
        "Flexible strategies to avoid overpriced assets",
        "Insurance strategies that pay off in market downturns"
      ],
      "performance_objective": "Outperform the NZ Official Cash Rate +3% over the medium term (after fees but before tax)",
      "tracking_error_target": null,
      "source_paragraph": "The 5 Oceans Fund is our lowest risk fund. It is a globally diversified fund that provides a moderate exposure to growth assets. The Fund is designed to generate returns, with the objective of outperforming the NZ Official Cash Rate +3% over the medium term (after fees but before tax), with some risk mitigation tools to smoothen the ride."
    },
    "_match": {
      "score": 1,
      "extractFundName": "Castle Point 5 Oceans Fund",
      "ourFundName": "CASTLE POINT 5 OCEANS FUND"
    },
    "_provenance": {
      "scheme_id": "SCH10745",
      "doc_type": "sipo",
      "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/3c69ad15c9c3b276/SIPO---2026-03.pdf",
      "source_doc_date": "2026-03-25",
      "source_tier": "A",
      "pdf_hash": "8954abd0a59567f2b0386fc754a1ad54ac48f7cd0167a92eb2118dac2f89a250",
      "extracted_at": "2026-05-27T23:57:29.629Z"
    }
  },
  "omiExtract": null,
  "sources": {
    "fmaDisclose": "https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Castle%20Point%205%20Oceans%20Fund",
    "sortedSmartInvestor": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10745/OFR10746/FND1223/",
    "productDisclosureStatement": "/disclose-document/7785322a9542268e/2026-04-PDS---Ranger.pdf",
    "pdsExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/1227847b83f0bc4e/2026-04-PDS---5-Oceans.pdf",
    "sipoExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/3c69ad15c9c3b276/SIPO---2026-03.pdf",
    "omiExtractSource": null
  },
  "licence": {
    "reuse": "Citation with link-back to canonicalUrl required. No paid redistribution.",
    "contact": "hello@managedfunds.nz"
  }
}