{ "schemaVersion": "1.1", "canonicalUrl": "https://managedfunds.nz/funds/octagon/balanced/", "fetchedAt": "2026-06-20T08:25:17.155Z", "fund": { "slug": "balanced", "name": "Octagon Balanced Fund", "managerSlug": "octagon", "category": "diversified", "riskProfile": "balanced", "isPie": true, "isEtf": null, "ticker": null, "isHedged": null, "isResponsibleInvestment": null, "isThematic": null, "isFifNotPie": null, "shortDescription": null, "availableVia": [ "direct" ], "dataStatus": "pending-ingestion" }, "manager": { "slug": "octagon", "name": "Octagon", "legalName": "Octagon Asset Management Limited", "parent": "Forsyth Barr", "website": "https://octagonasset.co.nz", "hq": "Auckland" }, "category": { "slug": "diversified", "name": "Diversified Funds", "shortName": "Diversified" }, "metrics": { "status": "ok", "matchScore": 2, "sortedFundName": "BALANCED FUND", "sortedManager": "FORSYTH BARR INVESTMENT MANAGEMENT LIMITED", "sortedUrl": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10647/OFR10802/FND21622/", "fetchedAt": "2026-05-22T02:45:21.558Z", "source_doc": "sorted/SCH10647/OFR10802/FND21622", "source_doc_date": "2026-05-22", "source_doc_url": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10647/OFR10802/FND21622/", "source_tier": "C", "riskIndicator": 4, "annualFundChargePct": 1.17, "peerAvgFeePct": 1.1, "fiveYearReturnPct": 3.18, "peerAvg5YearReturnPct": 3.77, "growthAssetsPct": 53.15, "incomeAssetsPct": 46.85, "fundSizeNzd": 37205702.6, "pdsUrl": "/disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf", "strategySummary": "“\n The Balanced Fund invests across multiple asset classes. Investors can expect moderate to high levels of movement up and down in value. It aims to achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark.\n ”", "topHoldings": [ { "asset": "Hunter Global Fixed interest Fund", "assetClass": "Bonds", "type": "International Fixed Interest", "country": "NZ", "weightPct": 18.14 }, { "asset": "Vanguard ESG US Stock ETF", "assetClass": "Shares", "type": "International Equities", "country": "US", "weightPct": 1.9 }, { "asset": "Fisher & Paykel Healthcare Corporation Limited", "assetClass": "Shares", "type": "Australasian Equities", "country": "NZ", "weightPct": 1.87 }, { "asset": "New Zealand Government 1.5% 15/05/2031", "assetClass": "Bonds", "type": "New Zealand Fixed Interest", "country": "NZ", "weightPct": 1.79 }, { "asset": "New Zealand Government 14/04/2033 3.5", "assetClass": "Bonds", "type": "New Zealand Fixed Interest", "country": "NZ", "weightPct": 1.38 }, { "asset": "Precinct Properties New Zealand Limited", "assetClass": "Property", "type": "Listed Property", "country": "NZ", "weightPct": 1.34 }, { "asset": "Goodman Property Trust", "assetClass": "Property", "type": "Listed Property", "country": "NZ", "weightPct": 1.32 }, { "asset": "Microsoft Corporation", "assetClass": "Shares", "type": "International Equities", "country": "US", "weightPct": 1.07 }, { "asset": "Kiwi Property Group Limited", "assetClass": "Property", "type": "Listed Property", "country": "NZ", "weightPct": 1.06 }, { "asset": "New Zealand Government 15/05/2032 2.00", "assetClass": "Bonds", "type": "New Zealand Fixed Interest", "country": "NZ", "weightPct": 1 } ], "fundStartDate": "11 December 2020", "minimumInvestmentNzd": null, "documents": [ { "label": "BALANCED FUND (FND21622) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.71 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/full-portfolio/FND21622/BALANCED-FUND-FND21622-Full-portfolio-holdings-31-March-2026.xlsx" }, { "label": "Octagon Investment Funds PDS 14 May 2026.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.59 MB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf" }, { "label": "Balanced Fund 20260331.pdf The quarterly update published by the provider PDF, 813.29 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/80391de6b4ef14da/Balanced-Fund-20260331.pdf" }, { "label": "Octagon OMI 14 May 2026.pdf Other Material Information about the Octagon Investment Funds PDF, 319.91 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/6b38a1bc2b57b784/Octagon-OMI---14-May-2026.pdf" }, { "label": "Octagon SIPO 14 May 2026.pdf This is the Statement of Investment Policy and Objectives for the Scheme PDF, 370.73 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/f74003e910c4a9c9/Octagon-SIPO---14-May-2026.pdf" }, { "label": "Octagon SIPO 14 May 2026.pdf Statement of investment policy and objectives PDF, 370.73 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/51eb8a914c46b218/Octagon-SIPO---14-May-2026.pdf" } ] }, "pdsExtract": { "fund_name": "Balanced Fund", "objective": "To achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark relating to the target investment mix.", "benchmark": "Composite benchmark relating to the target investment mix", "risk_indicator": 4, "is_pie": true, "is_hedged": null, "asset_allocation": { "growth_assets_pct": null, "income_assets_pct": null, "equities_pct": 52, "fixed_income_pct": 38, "cash_pct": 7, "property_pct": 3, "other_pct": 0 }, "fees": { "annual_fund_charge_pct": 1.15, "performance_fee_pct": null, "performance_fee_terms": null, "buy_spread_bps": null, "sell_spread_bps": null, "member_fee_nzd": null }, "minimum_investment_nzd": null, "minimum_subsequent_nzd": null, "distribution_frequency": "none", "source_paragraph": "To achieve long-term returns (before fees, taxes and other expenses) greater than a composite benchmark relating to the target investment mix. Investors can expect moderate to high levels of movement up and down in value. ANNUAL FUND CHARGES: 1.15%", "_match": { "score": 1, "extractFundName": "Balanced Fund", "ourFundName": "BALANCED FUND" }, "_provenance": { "scheme_id": "SCH10647", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf", "source_doc_date": "2026-05-13", "source_tier": "A", "pdf_hash": "0119e6e4f08c3cf09c8fa4db896041dee30257cc1175e7ebb0bc7f987faf7e4e", "extracted_at": "2026-05-27T23:15:34.230Z" } }, "sipoExtract": { "scheme_policies": { "investment_philosophy": "The Manager believes that there are opportunities in financial markets for active managers to exploit and that an actively managed portfolio of investments will over time provide better returns than a simple buy-and-hold strategy; accordingly, the Manager has appointed an active Investment Manager.", "responsible_investment_approach": "ESG considerations are taken into account via product involvement exclusion screening (weapons, tobacco, semi-automatic civilian weapons) using MSCI tools with a 5% revenue threshold; positive ESG risk assessment for directly held Australasian securities using Forsyth Barr CESG ratings and MSCI controversy data; and consideration of responsible investment frameworks before investing in unrelated underlying funds. Additional exclusions apply for the Trans-Tasman Equities Fund covering fossil fuel upstream activities, gambling (>10% revenue), and factory farming.", "derivatives_policy": "The funds may use derivatives where the Investment Manager considers doing so is consistent with the funds' risk profile and will contribute to the performance objectives of the funds. Derivatives may also be used by the manager of an underlying investment scheme.", "rebalancing_policy": "The single asset class funds are generally close to fully invested in the relevant asset class and do not have to undertake rebalancing. The multi-asset class funds may undertake rebalancing so that actual asset allocation matches desired asset allocation, at the discretion of the Investment Manager.", "currency_hedging_policy": "The Investment Manager actively manages foreign currency exposure for international and Australian equities and listed property, and generally hedges the foreign currency exposure associated with international fixed interest. The hedging strategy is established by the Board and implemented by the Investment Manager. Where funds invest into underlying schemes, foreign currency hedging may be undertaken by the manager of that underlying scheme.", "liquidity_policy": "The Investment Manager manages liquidity risk by continuously monitoring forecast and actual cash flows and maintaining sufficient cash holdings to meet potential payment obligations that may arise at short notice. The Investment Manager will take reasonable steps to ensure investments made directly are able to be partly or fully liquidated within ten business days." }, "scheme": { "scheme_name": "Octagon Investment Funds", "manager_name": "Forsyth Barr Investment Management Limited", "sipo_version_date": "2026-05-14", "sipo_review_cadence": "annually" }, "fund": { "fund_name": "Balanced Fund", "objective_verbatim": "The Fund's investment objective is to achieve long-term returns (before fees, taxes and other expenses) greater than its benchmark, by investing in selected New Zealand and international equities, listed property and New Zealand and international debt and debt-like securities, subject to the risks associated with investments in equity and debt markets.", "benchmark": "A composite benchmark made up of the single asset class benchmarks weighted by the target asset allocation for the asset class; the benchmark for international fixed interest is the Bloomberg Global Aggregate Total Return Index, 100% hedged to the New Zealand Dollar", "investment_horizon_years": null, "permitted_assets": [ "Any financial product that would be a permitted investment for any of the single asset class funds", "International fixed interest as detailed in the Schedule", "Cash and cash equivalents portion may be invested in the Enhanced Cash Fund or managed in accordance with that fund's permitted investments" ], "asset_allocation_ranges": [ { "asset_class": "Cash and cash equivalents", "target_pct": 7, "min_pct": 0, "max_pct": 50 }, { "asset_class": "New Zealand fixed interest", "target_pct": 19, "min_pct": 0, "max_pct": 50 }, { "asset_class": "International fixed interest", "target_pct": 19, "min_pct": 0, "max_pct": 50 }, { "asset_class": "Australasian equities", "target_pct": 17, "min_pct": 0, "max_pct": 50 }, { "asset_class": "International equities", "target_pct": 35, "min_pct": 20, "max_pct": 70 }, { "asset_class": "Listed property", "target_pct": 3, "min_pct": 0, "max_pct": 50 }, { "asset_class": "Unlisted property", "target_pct": null, "min_pct": null, "max_pct": null }, { "asset_class": "Commodities", "target_pct": null, "min_pct": null, "max_pct": null }, { "asset_class": "Other", "target_pct": null, "min_pct": 0, "max_pct": 10 } ], "exclusions": [], "tilts": [], "performance_objective": "Achieve long-term returns (before fees, taxes and other expenses) greater than the composite benchmark", "tracking_error_target": null, "source_paragraph": "The Fund's investment objective is to achieve long-term returns (before fees, taxes and other expenses) greater than its benchmark, by investing in selected New Zealand and international equities, listed property and New Zealand and international debt and debt-like securities, subject to the risks associated with investments in equity and debt markets." }, "_match": { "score": 1, "extractFundName": "Balanced Fund", "ourFundName": "BALANCED FUND" }, "_provenance": { "scheme_id": "SCH10647", "doc_type": "sipo", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/f74003e910c4a9c9/Octagon-SIPO---14-May-2026.pdf", "source_doc_date": "2026-05-12", "source_tier": "A", "pdf_hash": "f77838d1393905905a17d337a124769567081f2772147e6c40e55db3dcbf1ea0", "extracted_at": "2026-05-28T00:05:13.309Z" } }, "omiExtract": { "_provenance": { "scheme_id": "SCH10647", "doc_type": "omi", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/6b38a1bc2b57b784/Octagon-OMI---14-May-2026.pdf", "source_doc_date": "2026-05-12", "source_tier": "A", "pdf_hash": "a1746724bc56faa595c5bcda3a4eb1668c70845f41e6fa11518d768cb029dfcc", "extracted_at": "2026-05-28T00:02:44.002Z" }, "scheme": { "scheme_name": "Octagon Investment Funds", "manager_name": "Forsyth Barr Investment Management Limited", "omi_version_date": "14 May 2026" }, "related_party_transactions": [ { "counterparty": "Octagon Asset Management Limited", "relationship": "Related party of the Manager; ultimate holding company is Forsyth Barr Group Limited", "nature": "Day-to-day investment management for each of the funds under the Investment Management Agreement", "fee_or_rate": null }, { "counterparty": "Forsyth Barr Limited", "relationship": "Authorised body under Manager's licence; same ultimate parent (Forsyth Barr Group Limited)", "nature": "Daily administration of the Scheme delegated by Manager; also executes secondary market purchases and sales for the funds and receives brokerage", "fee_or_rate": "At or below normal commercial rates" }, { "counterparty": "Adminis NZ Limited", "relationship": "Appointed by Manager/Supervisor for unit pricing, investment accounting, registry and custody services", "nature": "Unit pricing, investment accounting, registry services and custody; paid out of Manager's management fee", "fee_or_rate": null }, { "counterparty": "Forsyth Barr Group Limited", "relationship": "Ultimate parent of Manager, Forsyth Barr Limited and Octagon Asset Management Limited", "nature": "Provides a funding line to the funds to cover client withdrawals/expenses where there is otherwise insufficient liquidity (e.g. timing mismatches between settlement of investments and redemption of units)", "fee_or_rate": null }, { "counterparty": "Te Ahumairangi Investment Management Limited", "relationship": "Associated entity — a director of Octagon Asset Management Limited is also a director of Te Ahumairangi Investment Management Limited", "nature": "Investment manager of Te Ahumairangi Global Equity Fund, which the Global Equities Fund invests in", "fee_or_rate": null }, { "counterparty": "Harbour Asset Management Limited", "relationship": "Third-party manager of an underlying fund invested in by Income, Balanced and Growth Funds", "nature": "Management of Hunter Global Fixed Interest Fund", "fee_or_rate": null } ], "conflicts_of_interest": [ "Octagon may make purchases and sales of financial products on behalf of funds other than the Scheme funds, which may result in Scheme funds purchasing from or selling to, or competing with, those other funds for the same investment opportunities.", "Secondary market purchases and sales of financial products for the funds are executed through Forsyth Barr Limited, which receives brokerage for those transactions, potentially encouraging Octagon employees to transact when they otherwise might not have.", "Forsyth Barr Limited trades on secondary markets for other clients and may also trade for its own account, meaning it may receive brokerage from both a Scheme fund and the counterparty client, or benefit from price movements when acting as counterparty.", "Forsyth Barr Limited is currently involved, and is likely in the future to be involved, in offers of financial products (including IPOs) as arranger, lead manager, or co-manager, and related companies may underwrite those offers; financial products offered may be acquired by a fund.", "The funds have voting rights in relation to securities they hold, and the firm may be a corporate adviser to issuers of those securities where fees depend on whether security holders approve certain transactions, potentially influencing voting decisions.", "The funds may invest in other funds managed by persons associated with the Manager, and Octagon employees could be encouraged by that association to invest in those funds when they otherwise might not have.", "Octagon employees making investment decisions for the funds may have a direct or indirect financial interest in financial products in which they transact for the funds, or have personal relationships or outside business interests relevant to the issuer of those products.", "Octagon's employees may be shareholders of Octagon, and many directors and senior managers within the Forsyth Barr Group are shareholders of Forsyth Barr Group Limited, meaning investment decisions could be influenced to financially advantage Octagon or other Forsyth Barr group entities to the detriment of investors." ], "fee_waivers": [ { "fund_name": null, "description": "We are able to waive or reduce our fees, either generally or for particular Unit Holders.", "expires": null } ], "performance_fee_mechanics": [], "material_risks_not_in_pds_summary": [ { "risk_name": "Market risk", "description": "Market risk is the risk of the value of a fund's investments being affected by developments in economies and financial markets (such as changes in market sentiment, inflation, interest rates, and employment), and regulatory and political conditions. This could result in reduced returns or capital being lost." }, { "risk_name": "Credit risk", "description": "Credit risk is the risk that a borrower defaults or is otherwise unable to meet its financial obligations, resulting in the level of returns being reduced or the full amount of the investment not being recovered. In order to mitigate credit risk the funds diversify their investments across a number of issuers, limit their exposure to any one issuer and, for a given issuer, generally have lower exposures where the issuer has a lower credit rating." }, { "risk_name": "Counterparty risk", "description": "Counterparty risk is the risk that a party to a contract defaults or is otherwise unable to fulfil its obligations. If this occurs the full amount invested may be lost or the Scheme may be otherwise negatively affected. The funds restrict over-the-counter derivative transactions to counterparties that have executed satisfactory documentation and are rated (Standard and Poor's) A or better." }, { "risk_name": "Derivative risk", "description": "Derivative risk is the risk that a derivative is used and losses occur or are exaggerated as a result of movements in the underlying variables. Derivatives also give rise to counterparty risk, and underlying managed investment schemes may also use derivative strategies." }, { "risk_name": "Benchmark risk", "description": "Benchmark risk is the risk that a fund does not match the performance of its benchmark." }, { "risk_name": "Underlying funds risk", "description": "If the funds invest in other managed investment schemes, they will be exposed to any adverse circumstances that impact on those schemes. The manager of underlying schemes may close a fund without notice or on limited notice, or may suspend withdrawals or switches, which may negatively affect Unit Holders' ability to withdraw from a fund or switch between funds." }, { "risk_name": "Establishing a new fund risk", "description": "When a new fund is established there may be a delay until the fund's intended investment strategy is fully implemented, which may occur until the fund reaches scale. Over this period the fund may not achieve the returns expected and may underperform its benchmark." }, { "risk_name": "Regulatory risk", "description": "Regulatory risk is the risk of future changes to laws or regulations (including tax, FMCA, or other legislation) that could affect the operation of the funds or their investments, or the investments made by Unit Holders. The FMCA is relatively new legislation involving areas of law that are open to new and differing legal interpretations, and the regulator's approach to overseeing and enforcing this legislation is likely to continue to develop over time." }, { "risk_name": "Administration risk", "description": "Administration risk is the risk of technological or other failure in an administrative process impacting on the funds or the markets in which the funds invest." }, { "risk_name": "PIE status loss risk", "description": "There is the risk of a fund losing its status as a multi-rate PIE, which may mean that the fund would revert to a tax status that is less favourable for investors." }, { "risk_name": "Insolvency risk", "description": "Insolvency risk arises where a fund becomes insolvent or is placed into receivership or similar, which could mean that a Unit Holder does not receive back the full amount of their interest in that fund." }, { "risk_name": "Service provider performance risk", "description": "There is the risk that those providing services in relation to the funds fail to perform their obligations." } ], "tax_disclosures": [ "Each of the funds is a type of PIE known as a multi-rate PIE; all taxable income (or loss) is allocated between Unit Holders based on their proportionate interest in the funds and tax is calculated at each Unit Holder's nominated or default Prescribed Investor Rate (PIR).", "Unit Holders who do not provide a PIR will be taxed at the default rate of 28%; Inland Revenue may direct the Manager to disregard a PIR provided and apply a different rate instead.", "PIR rates for NZ resident individuals (effective 1 April 2025) are 10.5%, 17.5%, or 28% depending on taxable income and taxable income plus PIE income/loss in the two income years before the relevant tax year.", "Non-residents are subject to a 28% PIR; companies, incorporated societies, PIEs, and registered charitable trusts have a 0% PIR; trusts and superannuation schemes may elect 0%, 17.5%, or 28%.", "If the correct PIR has been applied, tax paid on PIE income is a final tax and does not require the Unit Holder to file a tax return; if a lower rate than correct PIR is used, the shortfall must be paid at year-end.", "The funds' tax liability is ordinarily deducted by cancelling units at the end of each income year, on full or partial withdrawal/switch, or if the remaining balance is or could become insufficient to cover accrued tax liability.", "PIE income may affect Work and Income assistance, working for families tax credits, student loan repayment obligations, and child support payments.", "Gains or losses on most NZ resident company equities and Australian resident listed companies with franking accounts on an ASX approved index are not taxable or deductible; distributions from these holdings are taxable.", "Other foreign shares and foreign funds held by the funds are generally taxed under the fair dividend rate (FDR) method under the foreign investment fund (FIF) tax rules, deeming income at 5% per annum of average daily opening market value.", "Certain foreign shares and funds are taxed under the comparative value method (annual change in market value plus distributions and disposal gains) if they offer guaranteed/fixed rate returns, are non-participating redeemable shares, are 80%+ invested in NZD financial arrangements/fixed rate shares, or are determined by Inland Revenue to be debt in economic terms.", "Debt securities held directly by the funds are taxed under the financial arrangement rules using the IFRS taxpayer method.", "Foreign investments may also be subject to tax in foreign countries.", "Investing in a PIE can provide tax advantages relative to direct investment: capital gains on most NZ shares and most Australian listed shares are not taxable irrespective of trading level, and PIR rates are capped at 28%." ], "trustee_supervisor": "Trustees Executors Limited", "auditor": "Deloitte", "custodian": "Adminis NZ Limited", "source_paragraphs": [ "In addition to the related party transactions referred to elsewhere in this document, Forsyth Barr Group Limited provides a funding line to the funds to cover client withdrawals / expenses where there is otherwise insufficient liquidity, for example when there are timing mismatches between the settlement of investments and the redemption of units.", "The Scheme does not invest in any underlying funds that charge performance-based fees.", "In 2025 we changed our ESG screening provider from Sustainalytics to MSCI. As a result of this change the screening categories are slightly different." ], "_match": { "schemeId": "SCH10647", "ourFundName": "BALANCED FUND", "scope": "scheme-level" } }, "sources": { "fmaDisclose": "https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Octagon%20Balanced%20Fund", "sortedSmartInvestor": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10647/OFR10802/FND21622/", "productDisclosureStatement": "/disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf", "pdsExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf", "sipoExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/f74003e910c4a9c9/Octagon-SIPO---14-May-2026.pdf", "omiExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/6b38a1bc2b57b784/Octagon-OMI---14-May-2026.pdf" }, "licence": { "reuse": "Citation with link-back to canonicalUrl required. No paid redistribution.", "contact": "hello@managedfunds.nz" } }