# Octagon New Zealand Equities Fund

> Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings.

- **Manager:** Octagon (Octagon Asset Management Limited), parent Forsyth Barr
- **Asset class:** Australasian Equities
- **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%)
- **Confidence tier:** C (Sorted Smart Investor → FMA Disclose)
- **Last verified:** 2026-05-22

## Summary

The Octagon New Zealand Equities Fund is a australasian equities managed fund run by Octagon. NZ active manager (part of Forsyth Barr) running diversified and equity funds.

## Investment objective (from PDS)

> To achieve long-term returns (before fees, taxes and other expenses) greater than the S&P/NZX50 Gross with Imputation Index.

Source: Product Disclosure Statement dated 2026-05-13 (Tier A, lodged on FMA Disclose register). https://smartinvestor.sorted.org.nz/disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf

## Fund data

- **Annual fund charge:** 1.17% p.a. (from the latest Quarterly Fund Update)
- **5-year return (after charges, after tax at 28% PIR):** 1.25% p.a.
- **Risk indicator:** 4/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk)
- **Fund size (AUM):** NZ$161 million
- **Asset mix:** 98% growth assets · 2% income assets
- **Fund started:** 26 June 2008

## Top 10 holdings

1. Fisher & Paykel Healthcare Corporation Limited — 14.68%
2. Auckland International Airport Limited — 7.72%
3. Infratil Limited — 7.03%
4. Contact Energy Limited — 5.59%
5. Ebos Group Limited — 4.97%
6. Spark New Zealand Limited — 4.34%
7. Meridian Energy Limited — 4.32%
8. Mainfreight Limited — 4.00%
9. The a2 Milk Company Limited — 3.82%
10. Mercury NZ Limited — 2.74%

Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register.

## Additional terms (from PDS)

- **Distribution cadence:** No distributions (accumulating)

## Investment policy (from SIPO)

### Strategic asset allocation ranges

| Asset class | Target | Min | Max |
| --- | ---: | ---: | ---: |
| Cash and cash equivalents | 5% | 0% | 20% |
| Australasian equities | 85% | 80% | 100% |
| Listed property | 10% | 0% | 20% |

### 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.

Source: Statement of Investment Policy and Objectives dated 2026-05-12. https://smartinvestor.sorted.org.nz/disclose-document/f74003e910c4a9c9/Octagon-SIPO---14-May-2026.pdf

## Scheme disclosures (from OMI)

Scheme-level. The same disclosures apply to every fund in this scheme.

- **Trustee / Supervisor:** Trustees Executors Limited
- **Auditor:** Deloitte
- **Custodian:** Adminis NZ Limited
- **Conflicts of interest disclosed in OMI:** 8

### Conflicts of interest (verbatim from OMI)

- 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.

### Related-party transactions

- **Octagon Asset Management Limited** (Related party of the Manager; ultimate holding company is Forsyth Barr Group Limited) — Day-to-day investment management for each of the funds under the Investment Management Agreement
- **Forsyth Barr Limited** (Authorised body under Manager's licence; same ultimate parent (Forsyth Barr Group Limited)) — Daily administration of the Scheme delegated by Manager; also executes secondary market purchases and sales for the funds and receives brokerage · At or below normal commercial rates
- **Adminis NZ Limited** (Appointed by Manager/Supervisor for unit pricing, investment accounting, registry and custody services) — Unit pricing, investment accounting, registry services and custody; paid out of Manager's management fee
- **Forsyth Barr Group Limited** (Ultimate parent of Manager, Forsyth Barr Limited and Octagon Asset Management Limited) — 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)
- **Te Ahumairangi Investment Management Limited** (Associated entity — a director of Octagon Asset Management Limited is also a director of Te Ahumairangi Investment Management Limited) — Investment manager of Te Ahumairangi Global Equity Fund, which the Global Equities Fund invests in
- **Harbour Asset Management Limited** (Third-party manager of an underlying fund invested in by Income, Balanced and Growth Funds) — Management of Hunter Global Fixed Interest Fund

Source: Other Material Information document dated 2026-05-12. https://smartinvestor.sorted.org.nz/disclose-document/6b38a1bc2b57b784/Octagon-OMI---14-May-2026.pdf

## How to invest

Available via: Octagon directly. Read the current Product Disclosure Statement (PDS) before investing.

## Sources

- **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Octagon%20New%20Zealand%20Equities%20Fund
- **Product Disclosure Statement:** /disclose-document/ef6d884ee3d59248/Octagon-Investment-Funds-PDS---14-May-2026.pdf
- **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10647/OFR10802/FND806/
- **Manager website:** https://octagonasset.co.nz

## Citations (authoritative primary sources)

- FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ)
- Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities
- Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html
- Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/

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- **First published:** 2026-05-08
- **Last refreshed:** 2026-05-22
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ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.