{ "schemaVersion": "1.1", "canonicalUrl": "https://managedfunds.nz/funds/harbour/sustainable-nz-shares/", "fetchedAt": "2026-06-20T08:25:17.169Z", "fund": { "slug": "sustainable-nz-shares", "name": "Harbour Sustainable NZ Shares Fund", "managerSlug": "harbour", "category": "australasian-equities", "riskProfile": null, "isPie": true, "isEtf": null, "ticker": null, "isHedged": null, "isResponsibleInvestment": true, "isThematic": null, "isFifNotPie": null, "shortDescription": null, "availableVia": [ "direct" ], "dataStatus": "pending-ingestion" }, "manager": { "slug": "harbour", "name": "Harbour", "legalName": "Harbour Asset Management Limited", "parent": null, "website": "https://www.harbourasset.co.nz", "hq": "Wellington" }, "category": { "slug": "australasian-equities", "name": "Australasian Equities", "shortName": "Australasian Equities" }, "metrics": { "status": "ok", "matchScore": 3.25, "sortedFundName": "HARBOUR SUSTAINABLE NZ SHARES FUND", "sortedManager": "HARBOUR ASSET MANAGEMENT LIMITED harbourasset.co.nz", "sortedUrl": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10815/OFR10909/FND22696/", "fetchedAt": "2026-05-22T02:48:27.769Z", "source_doc": "sorted/SCH10815/OFR10909/FND22696", "source_doc_date": "2026-05-22", "source_doc_url": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10815/OFR10909/FND22696/", "source_tier": "C", "riskIndicator": 5, "annualFundChargePct": 0.27, "peerAvgFeePct": 0.91, "fiveYearReturnPct": 0.15, "peerAvg5YearReturnPct": 4.91, "growthAssetsPct": 98.31, "incomeAssetsPct": 1.69, "fundSizeNzd": 380160130, "pdsUrl": "/disclose-document/dc64feb8064f7640/Harbour-Investment-Funds-PDS---Diversified-Funds.pdf", "strategySummary": "“\n This Fund is designed to track the S&P/NZX 50 Portfolio Index, with exclusions to companies including but not limited to, large carbon emitters, gambling, firearms, and companies with human and animal rights violations. For full details of the exclusions for this Fund please see the Environmental, Social and Governance Policy (ESG Policy) on our website at Responsible Investing - Harbour Asset Management. There are positive and negative tilts applied to the remaining companies based on Harbour's proprietary Corporate Behaviour Score.\n ”", "topHoldings": [ { "asset": "Infratil", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 6.21 }, { "asset": "Contact Energy", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 6.09 }, { "asset": "Meridian Energy", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 6.01 }, { "asset": "A2 Milk Company", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 5.91 }, { "asset": "Fisher & Paykel Healthcare", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 5.81 }, { "asset": "Mercury NZ", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 5.69 }, { "asset": "Auckland International Airport", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 5.57 }, { "asset": "Mainfreight", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 5.22 }, { "asset": "EBOS Group", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 5.21 }, { "asset": "Spark New Zealand", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 4.73 } ], "fundStartDate": "1 April 2021", "minimumInvestmentNzd": null, "documents": [ { "label": "HARBOUR SUSTAINABLE NZ SHARES FUND (FND22696) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 1.41 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/full-portfolio/FND22696/HARBOUR-SUSTAINABLE-NZ-SHARES-FUND-FND22696-Full-portfolio-holdings-31-March-2026.xlsx" }, { "label": "Harbour Investment Funds PDS Diversified Funds.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 963.93 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/dc64feb8064f7640/Harbour-Investment-Funds-PDS---Diversified-Funds.pdf" }, { "label": "Fund Update Harbour Sustainable Shares NZ Fund Mar 2026.pdf The quarterly update published by the provider PDF, 220.17 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/8507a062ff17bd65/Fund-Update---Harbour-Sustainable-Shares-NZ-Fund-Mar-2026.pdf" }, { "label": "T.Rowe Price Global Equity Growth Fund (RUT)2016.pdf T. Rowe Price Global Equity Fund financial statements 30 June 2016 PDF, 5.55 MB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/mdo1b508883bdae27d3fe4730394d415f17/T.Rowe-Price-Global-Equity-Growth-Fund%28RUT%292016.pdf" }, { "label": "Harbour NZ Fixed Interest Funds (RUT)2016.pdf Retail Harbour Fixed Interest Funds Financial statements 30 June 2016 PDF, 6.77 MB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/mdo72c9c8db131782f395f46f8bb1189356/Harbour-NZ-Fixed-Interest-Funds%28RUT%292016.pdf" }, { "label": "Harbour Australasian Equity Funds (RUT)2016.pdf Retail Harbour Equity Funds Financial Statements 30 June 2016 PDF, 7.11 MB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/mdoc550f8f5e59f449bc3180929a5a391e8/Harbour-Australasian-Equity-Funds%28RUT%292016.pdf" }, { "label": "Harbour Investment Funds PDS Australasian Equities and Fixed Interest Funds.pdf Additional product disclosure statement from the provider PDF, 1.26 MB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/65471b912cd709f5/Harbour-Investment-Funds-PDS---Australasian-Equities-and-Fixed-Interest-Funds.pdf" }, { "label": "Harbour Investment Fund PDS Global Funds 18 May 2026.pdf Additional product disclosure statement from the provider PDF, 1,015.88 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/80eef93fbf719377/Harbour-Investment-Fund-PDS-Global-Funds-18-May-2026.pdf" }, { "label": "Harbour ESG Policy 18 May 2026.pdf Harbour - Environmental, Social and Governance Policy - 18 May 2026 PDF, 403.73 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/55a0116ee035c688/Harbour-ESG-Policy-18-May-2026.pdf" }, { "label": "Harbour Investment Funds Other Material Information 18 May 2026.pdf Other Material Document PDF, 433.01 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/48391312f2cb947f/Harbour-Investment-Funds-Other-Material-Information-18-May-2026.pdf" }, { "label": "Harbour Investment Funds Statement of Investment Policy and Objectives 18 May 2026.pdf Statement of investment policy and objectives PDF, 793.94 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/db2bcbf28c271d04/Harbour-Investment-Funds-Statement-of-Investment-Policy-and-Objectives-18-May-2026.pdf" } ] }, "pdsExtract": null, "sipoExtract": null, "omiExtract": { "_provenance": { "scheme_id": "SCH10815", "doc_type": "omi", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/48391312f2cb947f/Harbour-Investment-Funds-Other-Material-Information-18-May-2026.pdf", "source_doc_date": "2026-05-14", "source_tier": "A", "pdf_hash": "dbcd2c81631e7145333c2cdf0f78e7b63a3701877efa532d1c9710287f24cbf2", "extracted_at": "2026-05-28T00:02:48.968Z" }, "scheme": { "scheme_name": "Harbour Investment Funds", "manager_name": "Harbour Asset Management Limited", "omi_version_date": "18 May 2026" }, "related_party_transactions": [ { "counterparty": "FirstCape Group Limited", "relationship": "Ultimate holding company (100% owner of Harbour Asset Management Limited)", "nature": "Staffing services and banking facilities and services provided to the Funds; all conducted on arms' length commercial terms", "fee_or_rate": null }, { "counterparty": "Apex Investment Administration (NZ) Limited", "relationship": "Outsourced fund administration manager appointed by Harbour", "nature": "Account administration, custody, unit pricing, registry, reconciliation, performance reporting, and tax payment services for Harbour Investment Funds and Harbour Wholesale Funds", "fee_or_rate": null }, { "counterparty": "Harbour Wholesale Funds", "relationship": "Related underlying funds managed by Harbour Asset Management Limited", "nature": "Retail funds invest directly into wholesale funds; management fee charged by Harbour Wholesale Fund is fully rebated back to each retail Fund to ensure investors are only charged once", "fee_or_rate": "Harbour Australasian Equity Income Fund – 0.09%; Harbour Australasian Equity Fund – 0.04%; Harbour Australasian Equity Focus Fund – 0.08%; Harbour NZ Core Fixed Interest Fund – 0.00%" } ], "conflicts_of_interest": [ "Directors and employees of FirstCape Group companies may invest in Harbour funds from time to time, and decisions made by directors or employees may be influenced by their investment in Harbour funds.", "Actual or perceived conflicts of interest for directors and employees of FirstCape Group companies can arise from any competing interests, and employees are required to disclose and register potential or actual conflicts of interest to FirstCape so that these can be effectively managed.", "Directors are required to disclose conflicts of interest at the beginning of each meeting, and these are recorded in the meeting minutes.", "Harbour may use related parties to provide services to the Funds, including staffing services and banking facilities and services, all conducted on arms' length commercial terms." ], "fee_waivers": [], "performance_fee_mechanics": [ { "fund_name": "Harbour Australasian Equity Focus Fund", "hurdle_verbatim": "50% of the S&P/NZX 50 Net Index (does not include imputation credits) and 50% of the S&P/ASX 200 Index (which is 50% hedged into NZ dollars), plus an additional hurdle of 1% pa", "high_water_mark": true, "high_water_mark_reset_terms": "Perpetual HWM; will only ever be reset to a higher unit price if a performance fee is payable, in which case the new HWM will be the Wholesale Fund's unit price on the day the performance fee is calculated as being payable. The HWM was reset on 1 January 2016, 1 January 2018, 1 January 2021 and again on 1 January 2022.", "crystallisation_cadence": "Annually, paid in arrears at the end of each calendar year (31 December)", "cap_pct": 0.9, "performance_fee_terms_full": "A performance fee will only be paid in the Wholesale Fund if outperformance is achieved and the High Water Mark (HWM) unit price is exceeded. Outperformance is achieved if the Wholesale Fund's unit price return (with any performance fee accrual added back) is greater than the return of the Wholesale Fund's performance fee benchmark, plus an additional hurdle of 1% pa (calculated and accrued within the daily unit price). The performance fee comprises 10% of the outperformance (plus GST, if any). The performance fee is capped at 10% of the outperformance. That is, the maximum performance fee that we can be paid is 0.90% ((10% outperformance cap less 1% benchmark hurdle) x 10% performance fee = 0.90%). The HWM unit price is exceeded if the Wholesale Fund's unit price, on 31 December of any year, is greater than the Wholesale Fund's current HWM unit price. The performance fee is accrued and adjusted on a daily basis and paid in arrears, at the end of each calendar year. At the date of this document, we have estimated the performance fee for the next 12 months to be 0.12% (plus GST, if any)." }, { "fund_name": "Harbour Long Short Fund", "hurdle_verbatim": "S&P/NZX Bank Bills 90-Day Index (the Hurdle Rate) plus 2%", "high_water_mark": true, "high_water_mark_reset_terms": "Perpetual HWM; only ever reset when a performance fee is paid. The performance fee calculation resets upon payment, starting with the unit price as at 31 December as the new HWM for the future period.", "crystallisation_cadence": "Annually, paid following 31 December", "cap_pct": null, "performance_fee_terms_full": "We may be entitled to a performance fee within the Harbour Long Short Fund, which would be paid annually, following 31 December, subject to outperforming the S&P/NZX Bank Bills 90-Day Index (the Hurdle Rate) plus 2% and the HWM. The performance fee is 15% of the Fund's return above the Hurdle Rate (plus GST, if any). The performance fee is payable to Harbour only if there is a positive difference between the net asset value of the Fund at the end of the year (31 December), adjusted by adding back any accrual for performance fees during the relevant period. The HWM, which is the base unit price used to measure performance, is a perpetual HWM and is only ever reset when a performance fee is paid. The performance fee calculation resets upon payment, starting with the unit price as at 31 December as the new HWM for the future period. At the time of writing this document, we have estimated the performance fee for the next 12 months to be 0.23%." } ], "material_risks_not_in_pds_summary": [ { "risk_name": "Concentration risk", "description": "For the Australasian Equity Focus Fund, this Fund has a concentrated portfolio, meaning we will have large positions in companies that our investment team rate highly. This Fund is not as diversified as our other Funds on a number of holdings basis. This introduces a higher level of risk to the Fund." }, { "risk_name": "Securities lending – Borrower credit risk and settlement risk", "description": "There is a risk that a borrower of securities fails to deliver equivalent securities on termination of a loan. A delay in, or failure in respect of, redelivery of securities may cause the Fund to incur a loss of revenue and/or securities as a result. In any stock lending arrangement, the borrower of stock would be required to provide collateral of a high quality and liquidity to purchase replacement securities, should the borrower fail to deliver securities on the termination of the loan." }, { "risk_name": "Securities lending – Legal risk", "description": "There is a risk that the contract relating to the lending will not be legally enforceable or documented correctly, resulting in an inability to enforce an obligation to retransfer securities. In order to limit a Fund's exposure, Harbour has agreed with the Supervisor that at the time and immediately after lending any securities in a Fund no more than 20% of the value of a Fund or 20% of the aggregate value of any class of security within a Fund may be lent." }, { "risk_name": "Securities lending – ESG risk", "description": "Securities lending is a permitted activity for the Harbour Sustainable NZ Shares Fund and the Harbour Real Estate Investment Fund. There is a risk that in lending, the borrower is not subject to the same ESG considerations that would be applied by either of the Funds in accordance with the SIPO. Where we deem the long-term value of exercising our voting rights to outweigh the revenue from security lending, we may recall securities on loan, though there is a risk that this may not always be possible." }, { "risk_name": "Short-selling risk", "description": "Specific to the Harbour Long Short Fund, in theory, the upper limit on a share price is unlimited, hence the potential loss from short-selling, and the consequent effect on Fund returns is also unlimited. In certain circumstances, the lender of shares who we have borrowed from to facilitate settlement may request return of their shares which would require the Fund to buy back the shares in market at a time not of our choosing which may result in potential losses." }, { "risk_name": "Stock lending risk", "description": "Specific to the Harbour Long Short Fund, to facilitate the settlement of the shares the Fund has short sold, we are required to borrow shares from a counterparty who often requires the Fund to post collateral in the form of cash or securities. The lender has the right to sell or lend the collateral to other parties. The Fund is exposed to the creditworthiness of the lender in returning the collateral back if an adverse event occurred and may negatively affect returns if we were unable to obtain that collateral." }, { "risk_name": "ESG and Exclusions Risk", "description": "Exclusions consistent with Harbour's ESG strategy may give rise to performance deviations against each Fund's applicable benchmark. Harbour uses external screening providers to monitor excluded activity by underlying portfolio investments; the information obtained by external providers may not always be complete. ESG exclusions do not apply to derivatives/collective investment vehicles (e.g. ETFs, futures, options) which may be held by some Funds, nor to Funds managed by external managers, though those managers are assessed during appointment and monitored on a best-efforts basis." }, { "risk_name": "Tax Risk", "description": "The risk that the Fund loses its PIE status altogether. This could affect the returns to all investors as Fund income would be taxed at the corporate tax rate of 28% at the Fund level, rather than at investors' PIRs. There may also be further withholding tax on distributions made by the Fund." }, { "risk_name": "Liquidity risk – illiquid asset classes", "description": "Some Funds may invest into assets that exhibit poor liquidity such as sub-investment grade bonds and loans, unlisted equity, unlisted property, private credit, or unrated bonds of investment grade quality. There may be times when we may not easily change exposure levels if the Fund size changes and in extreme circumstances may constrain the ability of investors to exit their full holdings of units." }, { "risk_name": "Distribution risk", "description": "The Harbour NZ Core Fixed Interest Fund, Harbour NZ Corporate Bond Fund, Harbour Australasian Equity Income Fund, Harbour Income Fund, Harbour Balanced Growth Fund, Harbour NZ Index Shares Fund, Harbour Sustainable NZ Shares Fund and Harbour Real Estate Investment Fund intend to pay distributions. A change in market conditions or distribution policy could result in a change in the actual distribution amount. No amount is promised or guaranteed." }, { "risk_name": "Limited performance track record", "description": "Some of the Funds that Harbour offers under this Scheme have a limited performance track record as the Funds have been in existence for less than 5 years." } ], "tax_disclosures": [ "The Funds are multi-rate PIEs as defined in the Income Tax Act 2007; if the Funds fail to keep multi-rate PIE status, the tax treatment will differ and the result may be adverse to a unit holder.", "The Funds have not elected to be foreign investment PIEs.", "All taxable income, losses and tax credits related to a Fund's investments must be attributed to unit holders in proportion to their daily unit holdings, with tax payable at the investor's prescribed investor rate (PIR).", "If no valid IRD number and/or PIR is provided, attributed income will be taxed at the default rate of 28%.", "Taxable income is attributed annually to 31 March or at any time a withdrawal is made from a Fund; tax is paid to Inland Revenue by Apex Investment Administration (NZ) Limited.", "For individuals who have provided the correct PIR and IRD number, the tax paid on income attributed by the Fund will be a final tax and the income need not be included in a tax return.", "Inland Revenue can instruct Harbour to apply a different PIR; if the rate applied is lower than the correct PIR, the investor must pay any tax shortfall; if higher, any over-withheld tax will reduce income tax liability or be refunded.", "Capital gains on shares in NZ resident companies and certain Australian resident listed companies are excluded from taxable income for PIEs; dividends on such shares are taxable.", "Most foreign company shares are taxed under the fair dividend rate (FDR) method: deemed income equals 5% of opening daily market value; dividends, distributions or disposal gains from those shares are not separately taxed in NZ under FDR.", "Any losses in respect of overseas shares to which FDR applies will not give rise to a deduction for income tax purposes.", "Foreign shares offering guaranteed or fixed rate returns are taxed under the comparative value method (actual gain or loss for the year); losses are deductible.", "Interest earned, foreign exchange gains from non-NZD denominated debt instruments, and income derived from hedging contracts are taxable; the Funds are entitled to a deduction for expenses and foreign exchange/hedging contract losses from non-NZD denominated debt investments.", "Tax may be imposed in overseas jurisdictions in relation to overseas investments, although this may give rise to a tax credit in New Zealand.", "If a retail investor invests through a PIP or custodial service, taxable income attributed to the PIP or custodial service generally has tax deducted at 0% and the PIP or custodial service is responsible for attributing tax to investors.", "Distributions and withdrawals from the Funds are not separately taxable, even where the amount received exceeds the original cost of the units; however, a withdrawal potentially triggers an attribution of taxable income for the current year.", "Harbour and the Supervisor have broad powers to refuse investment or compulsorily withdraw all or part of a unit holding where continued investment may prejudice a Fund's multi-rate PIE eligibility." ], "trustee_supervisor": "The New Zealand Guardian Trust Company Limited (Guardian Trust)", "auditor": "PricewaterhouseCoopers", "custodian": "Apex Investment Administration (NZ) Limited", "source_paragraphs": [ "A performance fee will only be paid in the Wholesale Fund if outperformance is achieved and the High Water Mark (HWM) unit price is exceeded. The performance fee comprises 10% of the outperformance (plus GST, if any). The performance fee is capped at 10% of the outperformance. That is, the maximum performance fee that we can be paid is 0.90%.", "The HWM, which is the base unit price used to measure performance, is a perpetual HWM and is only ever reset when a performance fee is paid. The performance fee calculation resets upon payment, starting with the unit price as at 31 December as the new HWM for the future period.", "The management fee charged by a Harbour Wholesale Fund is fully rebated back to each Fund to ensure that you are only charged once for the management fee or net management fee (as the case may be)." ], "_match": { "schemeId": "SCH10815", "ourFundName": "HARBOUR SUSTAINABLE NZ SHARES FUND", "scope": "scheme-level" } }, "sources": { "fmaDisclose": "https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Harbour%20Sustainable%20NZ%20Shares%20Fund", "sortedSmartInvestor": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10815/OFR10909/FND22696/", "productDisclosureStatement": "/disclose-document/dc64feb8064f7640/Harbour-Investment-Funds-PDS---Diversified-Funds.pdf", "pdsExtractSource": null, "sipoExtractSource": null, "omiExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/48391312f2cb947f/Harbour-Investment-Funds-Other-Material-Information-18-May-2026.pdf" }, "licence": { "reuse": "Citation with link-back to canonicalUrl required. No paid redistribution.", "contact": "hello@managedfunds.nz" } }