What can the Harbour Balanced Growth 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 | 3.5% | 0% | 25% |
| NZ Fixed Interest | 8.5% | 0% | 30% |
| International Fixed Interest | 18% | 0% | 40% |
| Total Income Assets | 30% | 10% | 50% |
| Australasian equities | 23.5% | 0% | 45% |
| International equities | 46.5% | 25% | 65% |
| Unlisted Property | 0% | 0% | 10% |
| Listed Property | 0% | 0% | 15% |
| Total Growth Assets | 70% | 50% | 90% |
| Other | 0% | 0% | 30% |
Mandate flexibility (sum of max − min across all ranges): 315%. Wide range — high manager discretion typical of active management.
Responsible-investment approach
Harbour integrates ESG factors directly into portfolio analysis using its proprietary Corporate Behaviour Survey, augmented by external ESG specialists and broker research. For most directly managed Funds, companies that do not meet a baseline standard of responsible behaviour are excluded. Active ownership through company engagement and proxy voting is also undertaken. Fund-specific exclusions (e.g. large carbon emitters, gambling, firearms, human/animal rights violations) apply to certain Funds as outlined in Harbour's ESG Policy.
Derivatives policy
The use of derivatives is governed by the Harbour Derivative Risk Statement (DRS), which covers permitted uses, controls and compliance processes. Derivatives are not to be considered in isolation but as part of the overall investment strategy; leveraged instruments must not result in effective exposure exceeding the maximum permitted asset allocation range, and all derivative positions must be measured on a delta-adjusted basis.