Daintree Core Income PIE
Managed by Daintree Daintree Core Income PIE is a international fi managed fund operated by Daintree; PIE-structured; FMA risk indicator 3/7. Headline terms: annual fund charge 0.72% · minimum investment NZ$10,000 · distributions monthly. Compared with 30 other same-category funds on this site, the 0.72% annual fund charge sits in line with the same-category median of 0.69%.
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
0.73%
vs peer avg 0.65%
Risk indicator
3/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 1.17%
Fund size
NZ$336.9m
0% growth · 100% income
The aim of the Fund is to provide an absolute return (greater than cash) over time and a steady stream of income and capital stability over the medium term.
How Daintree Core Income PIE differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- Bloomberg AusBond Composite 0-5 Yr in NZD
- Top 3 holdings
- Daintree Core Income Trust NZD (99.2%) · NZD Cash at Bank (0.8%)
Key facts
Fund start date
14 August 2024
Min. investment
NZ$10,000
Subsequent: NZ$1,000
Distributions
Monthly
Buy / sell spread
0 bps (0.00%) / 5 bps (0.05%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Cash and Cash Equivalents | 15% | 0% | 100% |
| International Fixed Interest (including Australia) | 85% | 0% | 100% |
Responsible-investment approach
Daintree uses non-financial ESG factors to screen potential securities via negative screening (exclusions) and a numerical Daintree Score (positive screen) weighting governance at 60% and environment/social at 20% each. Exclusions are coded into trade management software and monitored daily; securities failing engagement over approximately 3-6 months are divested. Where Daintree invests in assets it does not control (e.g. ETFs), inadvertent excluded exposures are capped at 2% of the Underlying Fund.
Exclusions
- The manufacture of cluster munitions
- The manufacture or testing of nuclear explosive devices
- The manufacture of anti-personnel mines
- The manufacture of tobacco products
- The processing of whale meat
- The manufacture of recreational cannabis
- The manufacture of alcohol
- Gaming or gambling related activities
- The production of pornographic material
- The exploration and production of any fossil fuels (coal, oil, gas, oil sands)
- Coal-fired power generation
- The exploration and production of uranium
Derivatives policy
Derivatives may be used for investment and risk management purposes but cannot be used to gear the portfolio; all long derivative positions must be backed by cash or cash equivalents, short derivative positions must be fully backed by authorised investments, and counterparties for interest rate swaps and OTC options must be rated at least BBB- by a recognised rating agency.
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.
- Clarity acknowledges its parent company ISG provides administration and operations services to the Funds and receives a portion of the total fund charge, creating a potential conflict between Clarity's interest in using ISG and investors' interests in minimising costs.
- Clarity discloses that directors, employees and associated persons may invest personally in the Funds, which could create a conflict between their individual interests and those of other investors.
- Clarity acknowledges a multi-layer related-party structure: Daintree Capital Management acts as investment manager of the underlying funds, while Perennial Investment Management (a related party of Daintree) serves as responsible entity managing and administering those same underlying funds.
- Clarity notes that where it delegates manager functions to third parties, those parties may not perform them identically to Clarity, and Clarity retains responsibility for monitoring their performance.
Generated 2026-05-28 from Daintree Funds Scheme OMI (dated 2026-04-01). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
The New Zealand Guardian Trust Company Limited
Auditor
PwC Auckland
Custodian
The New Zealand Guardian Trust Company Limited
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- Directors, employees and other associated persons of Clarity may choose to invest in the Funds, creating a potential conflict of interest between their personal interests and those of other investors.
- The only related party currently involved in this offer is Clarity's parent, ISG, who provides investment administration and investment operation services for the Funds and receives a portion of the total fund charge, which may create a conflict between the Manager's interest in engaging its parent and investors' interests in minimising costs.
- Where Clarity delegates some or all of its functions as Manager to other parties, there is a potential conflict in that those parties may not perform those functions in the same manner as Clarity would directly, and Clarity must monitor their performance.
How this fund compares to peers
Mechanical comparison vs the 31 other international fi 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
0.73%
Category median: 0.70%
Mid-pack — cheaper than 47% of peers
Fund size
NZ$336.9m
Category median: NZ$141.0m
Top 24% by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$360
Compounded charge over 5 years (excl. returns)
$15 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 2 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| DC Daintree Core Income Trust NZD | 99.17% |
| $ NZD Cash at Bank | 0.83% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- DAINTREE CORE INCOME PIE (FND49744) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.43 KB
- Daintree PDS 2 April 26 FINAL.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 456.58 KB
- Daintree Core Income PIE 31 March 2026.pdf The quarterly update published by the provider PDF, 245.17 KB
- Daintree OMI 2 April 26 FINAL.pdf Supplementary information to the PDS. PDF, 323.72 KB
- Daintree Capital ESG Policy.pdf This is the ESG Policy of the underlying manager of the Daintree Funds. PDF, 440.83 KB
- Daintree SIPO 2 April 26 FINAL.pdf Statement of investment policy and objectives PDF, 130.63 KB
About this category
Funds investing in fixed-income securities issued outside New Zealand, typically with currency hedging back to NZD.
About Daintree
Australian absolute-return credit specialist with Core Income and High Income PIE funds for NZ investors.
See all funds from Daintree →Head-to-head
Compare Daintree Core Income PIE with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International FI 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 →Explore this with AI
Open a fresh AI chat pre-loaded with this page — ask it to summarise, explain, or compare, and it can read ManagedFundsNZ's underlying data directly.
AI & integrations
Use this fund inside the tools you already use
Every fund on ManagedFundsNZ ships in three formats so AI assistants and data tools can consume it without scraping: a canonical HTML page, a plain Markdown twin, and a structured JSON twin. Citation back to the canonical URL is required; full reuse policy at /llms-policy.txt.
- Canonical (HTML)managedfunds.nz/funds/daintree/core-income/This page. Browsable.
- Markdown twinmanagedfunds.nz/funds/daintree/core-income/markdown.mdPlain text. AI-crawler-ready.
- Structured (JSON)managedfunds.nz/funds/daintree/core-income/data.jsonMachine-parseable.
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 Daintree Core Income PIE?
Daintree Core Income PIE is managed by Daintree. Australian absolute-return credit specialist with Core Income and High Income PIE funds for NZ investors.
What asset class is the Daintree Core Income PIE?
It is a international fi managed fund. The fund has a conservative risk profile. Funds investing in fixed-income securities issued outside New Zealand, typically with currency hedging back to NZD.
What are the fees for the Daintree Core Income PIE?
The annual fund charge for the Daintree Core Income PIE is 0.73% 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 Daintree Core Income PIE?
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 Daintree Core Income PIE a PIE fund?
Yes. The Daintree Core Income PIE 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 Daintree Core Income PIE?
Fund size (assets under management) is NZ$337 million as at the latest Quarterly Fund Update. Asset mix is approximately 0% growth assets and 100% income assets.
What does the Daintree Core Income PIE invest in?
The latest published top holdings are: Daintree Core Income Trust NZD (99.17%), NZD Cash at Bank (0.83%). 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 Daintree Core Income PIE?
The Daintree Core Income PIE is available via Daintree directly. Always read the current Product Disclosure Statement before investing.