What can the Castle Point Trans-Tasman 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 | 2% | 0% | 10% |
| Australasian equities | 98% | 90% | 100% |
| New Zealand equities | — | 65% | 100% |
| Australian equities | — | 0% | 25% |
| Individual listed equity | — | 0% | — |
Mandate flexibility (sum of max − min across all ranges): 80%. Narrow range — index-tracking style with limited drift.
Explicit exclusions (5)
- Sectors, industries, companies and practices with materially negative ESG attributes (as maintained on the blacklist by the Investment Committee)
- Unlisted equities
- Fixed interest
- Derivatives (tail risk/other)
- International (non-Australasian) equities
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.