What can the Castle Point 5 Oceans Fund actually invest in?
The fund's Statement of Investment Policy and Objectives (SIPO) defines the asset classes it can hold and the allowable target / min / max weights for each.
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% |
Mandate flexibility (sum of max − min across all ranges): 610%. Wide range — high manager discretion typical of active management.
Explicit exclusions (1)
- Sectors, industries, companies and practices with materially negative ESG attributes (as maintained on the blacklist by the Investment Committee)
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.