# Pella Global Generations PIE Fund > Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings. - **Manager:** Pella (Pella Funds Management) - **Asset class:** International Equities - **Risk profile:** growth - **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 Pella Global Generations PIE Fund is a international equities managed fund run by Pella. Australian global-equity manager with a Global Generations PIE fund for NZ investors. ## Investment objective (from PDS) > The Fund's investment objective is to obtain returns greater than the MSCI All Country World Index Net Total Return (in NZ dollars) ("Benchmark") and with lower volatility than the Benchmark, over the medium to long term by investing in long-only equities, subject to the Investment Manager's ethical investment processes. Source: Product Disclosure Statement dated 2025-03-26 (Tier A, lodged on FMA Disclose register). https://smartinvestor.sorted.org.nz/disclose-document/mdo8e19cf03714d608badf7e8375a0732bd/Pella-Investment-Funds-PDS-26-March-2025.pdf ## Fund data - **Annual fund charge:** 0.85% p.a. (from the latest Quarterly Fund Update) - **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk) - **Fund size (AUM):** NZ$64 million - **Asset mix:** 98% growth assets · 2% income assets - **Fund started:** 4 April 2025 - **Minimum initial investment:** NZ$25,000 ## Top 10 holdings 1. Cash at Bank (BNZ) — 8.17% 2. Deutsche Boerse AG — 3.84% 3. LivaNova PLC — 3.62% 4. Nutrien Ltd — 3.51% 5. 3i Group PLC — 3.36% 6. AIA Group Ltd — 3.18% 7. Marsh & McLennan Companies Inc — 3.14% 8. Arthur J Gallagagh & Co — 3.12% 9. Newmont Mining Corp — 3.09% 10. Contemporary Amperex Technology Co Ltd — 3.09% Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register. ## Additional terms (from PDS) - **Minimum subsequent investment:** NZ$5,000 - **Distribution cadence:** No distributions (accumulating) - **Buy / sell spread:** 25 bps / 25 bps (transaction cost on subscription / redemption) ## Investment policy (from SIPO) ### Strategic asset allocation ranges | Asset class | Target | Min | Max | | --- | ---: | ---: | ---: | | Global equities | 95% | 80% | 100% | | Cash and cash equivalents | 5% | 0% | 20% | ### Responsible-investment approach The Fund incorporates ESG Integration, Negative/Exclusion Screening (13 activity-based exclusions), Norms-Based Screening (aligned to UN Global Compact), Stewardship (targeting 100% shareholder vote participation), and a Sustainability-Themed strategy requiring portfolio carbon intensity to be at least 30% lower than the Benchmark. MSCI ESG ratings and scores are used throughout. ### Derivatives policy The Fund may invest in direct securities and currencies including derivatives. No further limits or specific permitted uses are detailed beyond this statement. ### Exclusions - Alcoholic beverages manufacturing (0% revenue threshold) - Animal cruelty – cosmetic testing, crowd entertainment, intensive animal husbandry (0% revenue threshold) - Correctional facilities (0% revenue threshold) - Deforestation (0% revenue threshold) - Fossil fuel generation – thermal coal (>5% revenue threshold, unless transitioning and fully exiting within three years) - Fossil fuel generation – gas (>15% revenue threshold) - Fossil fuel mining/exploration including oil, thermal coal, and natural gas (0% revenue threshold) - Gambling (0% revenue threshold) - GMO seeds manufacturing (0% revenue threshold) - Pornography (0% revenue threshold) - Tobacco and nicotine alternative products (0% revenue threshold, including companies with >10% ownership in such companies) - Uranium mining (0% revenue threshold) - Weapons – all types including controversial and non-controversial, guns, bombs, and munitions (0% revenue threshold) - Companies severely breaching UN Global Compact principles (forced labour/slavery, child labour, child pornography, genocide, ethnocide) without appropriate remediation Source: Statement of Investment Policy and Objectives dated 2025-03-26. https://smartinvestor.sorted.org.nz/disclose-document/mdo021a7bf9da9474f132b76b4bafb9f3de/Pella-Investment-Funds-SIPO-26-March-2025.pdf ## Scheme disclosures (from OMI) Scheme-level. The same disclosures apply to every fund in this scheme. - **Trustee / Supervisor:** Public Trust - **Auditor:** PricewaterhouseCoopers - **Custodian:** BNP Paribas Fund Services Australasia Pty Limited - **Conflicts of interest disclosed in OMI:** 2 ### Conflicts of interest (verbatim from OMI) - FundRock and Apex Investment Administration (NZ) Limited are both ultimately owned by Apex Group Limited, which may influence FundRock to agree commercial terms with Apex NZ that are more favourable to Apex NZ than would otherwise be the case, benefiting Apex NZ at the expense of investors. - Parties related to the Fund, including staff of the Investment Manager and their families, and staff of FundRock and their families, may from time to time invest in the Fund. ### Related-party transactions - **Apex Investment Administration (NZ) Limited** (Both FundRock NZ Limited and Apex Investment Administration (NZ) Limited are ultimately owned by Apex Group Limited) — Registry, fund accounting and unit pricing services provided to the Fund Source: Other Material Information document dated 2025-03-26. https://smartinvestor.sorted.org.nz/disclose-document/mdoffd302d605df5c5665a9ef0fe9f45f3c/Pella-Investment-Funds-OMI-26-March-2025.pdf ## How to invest Available via: Pella 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=Pella%20Global%20Generations%20PIE%20Fund - **Product Disclosure Statement:** /disclose-document/mdo8e19cf03714d608badf7e8375a0732bd/Pella-Investment-Funds-PDS-26-March-2025.pdf - **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH13913/OFR13914/FND56058/ - **Manager website:** https://www.pellafundsmanagement.com ## 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/ ## This file - **Canonical HTML:** https://managedfunds.nz/funds/pella/global-generations/ - **Markdown (this file):** https://managedfunds.nz/funds/pella/global-generations/markdown.md - **Structured data (JSON):** https://managedfunds.nz/funds/pella/global-generations/data.json - **First published:** 2026-05-08 - **Last refreshed:** 2026-05-22 - **Reuse licence:** citation with link back to the canonical HTML is granted. No paid redistribution. Full terms: https://managedfunds.nz/llms-policy.txt --- 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.