{ "schemaVersion": "1.1", "canonicalUrl": "https://managedfunds.nz/funds/plato/global-alpha/", "fetchedAt": "2026-05-31T11:33:04.046Z", "fund": { "slug": "global-alpha", "name": "Plato Global Alpha PIE Fund", "managerSlug": "plato", "category": "international-equities", "riskProfile": "growth", "isPie": true, "isEtf": null, "ticker": null, "isHedged": null, "isResponsibleInvestment": null, "isThematic": null, "isFifNotPie": null, "shortDescription": null, "availableVia": [ "direct" ], "dataStatus": "pending-ingestion" }, "manager": { "slug": "plato", "name": "Plato", "legalName": "Plato Investment Management", "parent": null, "website": "https://plato.com.au", "hq": "Sydney" }, "category": { "slug": "international-equities", "name": "International Equities", "shortName": "International Equities" }, "metrics": { "status": "ok", "matchScore": 3, "sortedFundName": "PLATO GLOBAL ALPHA PIE FUND", "sortedManager": "FUNDROCK NZ LIMITED fundrock.com", "sortedUrl": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH15035/OFR15092/FND62005/", "fetchedAt": "2026-05-22T03:07:06.941Z", "source_doc": "sorted/SCH15035/OFR15092/FND62005", "source_doc_date": "2026-05-22", "source_doc_url": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH15035/OFR15092/FND62005/", "source_tier": "C", "riskIndicator": 5, "annualFundChargePct": null, "peerAvgFeePct": null, "fiveYearReturnPct": null, "peerAvg5YearReturnPct": null, "growthAssetsPct": 0, "incomeAssetsPct": 1, "fundSizeNzd": 0, "pdsUrl": "/disclose-document/de64be4581770cc6/Plato-Investment-Funds---PDS---8-May-2026.pdf", "strategySummary": "“\n The Fund aims to provide investors with long and short exposure to an actively managed, diversified portfolio of listed international equities.\nThe Fund aims to outperform its benchmark, the MSCI World Net Total Return Index in New Zealand dollars, net of fees and before taxes, over rolling 5 year periods. The Fund is not hedged back to the New Zealand dollar\n ”", "topHoldings": [], "fundStartDate": null, "minimumInvestmentNzd": 15000, "documents": [ { "label": "Plato Investment Funds PDS 8 May 2026.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 337.21 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/de64be4581770cc6/Plato-Investment-Funds---PDS---8-May-2026.pdf" }, { "label": "Plato Investment Funds OMI 8 May 2026.pdf Other Material Information document PDF, 326.22 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/9f0daa023ec3ccd1/Plato-Investment-Funds---OMI---8-May-2026.pdf" }, { "label": "Plato Investment Funds SIPO 8 May 2026.pdf Statement of investment policy and objectives PDF, 350.20 KB", "href": "https://smartinvestor.sorted.org.nz/disclose-document/3ad1361a5d4be367/Plato-Investment-Funds---SIPO---8-May-2026.pdf" } ] }, "pdsExtract": { "fund_name": "Plato Global Alpha PIE Fund", "objective": "The Fund aims to provide investors with long and short exposure to an actively managed, diversified portfolio of listed international equities. The Fund aims to outperform its benchmark, the MSCI World Net Total Return Index in New Zealand dollars, net of fees and before taxes, over rolling 5 year periods. The Fund is not hedged back to the New Zealand dollar.", "benchmark": "MSCI World Net Total Return Index in New Zealand dollars", "risk_indicator": 5, "is_pie": true, "is_hedged": false, "asset_allocation": { "growth_assets_pct": null, "income_assets_pct": null, "equities_pct": 95, "fixed_income_pct": null, "cash_pct": 5, "property_pct": null, "other_pct": null }, "fees": { "annual_fund_charge_pct": 2.4, "performance_fee_pct": 1.55, "performance_fee_terms": "15% of outperformance of the benchmark, being the MSCI World Net Total Return Index in New Zealand dollars. No high-water mark applies. Calculated each Business Day and paid semi-annually (as at 30 June and 31 December each year). No maximum limit.", "buy_spread_bps": 30, "sell_spread_bps": 30, "member_fee_nzd": null }, "minimum_investment_nzd": 15000, "minimum_subsequent_nzd": 5000, "distribution_frequency": "none", "source_paragraph": "The Fund aims to provide investors with long and short exposure to an actively managed, diversified portfolio of listed international equities. The Fund aims to outperform its benchmark, the MSCI World Net Total Return Index in New Zealand dollars, net of fees and before taxes, over rolling 5 year periods. The Fund will not make any distributions but may elect to do so in the future.", "_match": { "score": 1, "extractFundName": "Plato Global Alpha PIE Fund", "ourFundName": "PLATO GLOBAL ALPHA PIE FUND" }, "_provenance": { "scheme_id": "SCH15035", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/de64be4581770cc6/Plato-Investment-Funds---PDS---8-May-2026.pdf", "source_doc_date": "2026-05-08", "source_tier": "A", "pdf_hash": "a2899345eea931087e3e994de403fb34e1a2868e03674399fb1d3283cd33ce13", "extracted_at": "2026-05-27T23:18:38.048Z" } }, "sipoExtract": { "scheme_policies": { "investment_philosophy": "Plato's investment philosophy is that markets are less than perfectly efficient, and a disciplined, systematic process can take advantage of these inefficiencies to deliver better risk-adjusted returns than the market. Plato also believes that high-quality companies, selling at a discount to intrinsic value with a catalyst and positive sentiment, tend to outperform the market.", "responsible_investment_approach": "Plato takes into account ESG considerations through its proprietary 'Red Flags' model covering toxic emissions, labour supply-chain standards, corporate governance, remuneration, forensic accounting, financial distress, and social and environmental impacts. The Underlying Fund is committed not to hold long positions in companies classified in the Tobacco sector (GICS) or companies deriving more than 5% of revenues from Thermal Coal Mining (based on ISS data).", "derivatives_policy": "The Underlying Fund may utilise borrowing and short selling techniques to obtain leverage; currency hedging instruments are a permitted investment at the Fund level.", "rebalancing_policy": "The Fund's benchmark asset allocation ranges are monitored on a daily basis; if exposures move outside those ranges, rebalancing is undertaken as soon as reasonably practicable and is normally expected to be completed within 5 working days after the Manager becomes aware, using available cash flows and/or buying/selling portfolio assets.", "currency_hedging_policy": "The Fund is not hedged back to the New Zealand dollar.", "liquidity_policy": "The Fund invests predominantly in liquid investments and hence has daily applications and redemptions; if the Fund experiences liquidity problems or major markets are closed, the Manager may defer or suspend redemptions for a period of time." }, "scheme": { "scheme_name": "Plato Investment Funds", "manager_name": "FundRock NZ Limited", "sipo_version_date": "2026-05-08", "sipo_review_cadence": "annually" }, "fund": { "fund_name": "Plato Global Alpha PIE Fund", "objective_verbatim": "The Fund aims to outperform its Benchmark, the MSCI World Net Total Return Index in New Zealand dollars, net of fees and before taxes, over rolling 5-year periods. The Fund is not hedged back to the New Zealand dollar.", "benchmark": "MSCI World Net Total Return Index in New Zealand dollars", "investment_horizon_years": 5, "permitted_assets": [ "International equities", "Cash and cash equivalents", "Managed investment schemes", "Currency hedging instruments" ], "asset_allocation_ranges": [ { "asset_class": "International equities", "target_pct": 95, "min_pct": 90, "max_pct": 100 }, { "asset_class": "Cash and cash equivalents", "target_pct": 5, "min_pct": 0, "max_pct": 10 } ], "exclusions": [ "Companies classified in the Tobacco sector (as defined by GICS)", "Companies that derive more than 5% of revenues from Thermal Coal Mining (based on ISS data)" ], "tilts": [ "High-quality companies selling at a discount to intrinsic value with a catalyst and positive sentiment (long bias)", "Low-quality companies selling at a premium to intrinsic value with negative catalyst/sentiment (short bias via Red Flags system)" ], "performance_objective": "Outperform the MSCI World Net Total Return Index in New Zealand dollars, net of fees and before taxes, over rolling 5-year periods.", "tracking_error_target": null, "source_paragraph": "The Fund aims to outperform its Benchmark, the MSCI World Net Total Return Index in New Zealand dollars, net of fees and before taxes, over rolling 5-year periods. The Fund invests substantially all of its assets in the Underlying Fund, getting long and short exposure to an actively managed, diversified portfolio of listed international equities." }, "_match": { "score": 1, "extractFundName": "Plato Global Alpha PIE Fund", "ourFundName": "PLATO GLOBAL ALPHA PIE FUND" }, "_provenance": { "scheme_id": "SCH15035", "doc_type": "sipo", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/3ad1361a5d4be367/Plato-Investment-Funds---SIPO---8-May-2026.pdf", "source_doc_date": "2026-05-07", "source_tier": "A", "pdf_hash": "4a325eb968dabd5c6e22f9208e79911750f3e2be50f9fbe05721a9a17c6eada7", "extracted_at": "2026-05-28T00:22:46.275Z" } }, "omiExtract": { "_provenance": { "scheme_id": "SCH15035", "doc_type": "omi", "source_doc_url": "https://smartinvestor.sorted.org.nz/disclose-document/9f0daa023ec3ccd1/Plato-Investment-Funds---OMI---8-May-2026.pdf", "source_doc_date": "2026-05-08", "source_tier": "A", "pdf_hash": "3221339b32ba5eec84ec6923a62f15ba0e4650420e6f6dad4f4f4a5066c6804d", "extracted_at": "2026-05-28T00:10:43.413Z" }, "scheme": { "scheme_name": "Plato Investment Funds", "manager_name": "FundRock NZ Limited", "omi_version_date": "2026-05-08" }, "related_party_transactions": [ { "counterparty": "Plato Investment Management Limited", "relationship": "Investment Manager; also acts as investment manager of the Underlying Fund into which the Fund invests", "nature": "Plato manages the Fund's assets and also manages the Underlying Fund (Plato Global Alpha Fund), meaning it acts for both the Fund as a single investor and for all investors in the Underlying Fund", "fee_or_rate": null }, { "counterparty": "Apex Investment Administration (NZ) Limited (Apex NZ)", "relationship": "Common ultimate parent — both FundRock NZ Limited and Apex NZ are ultimately owned by Apex Group Limited", "nature": "Administration Manager providing unit pricing, fund accounting and investor registry services", "fee_or_rate": null } ], "conflicts_of_interest": [ "Plato, as investment manager for the Fund (representing a single investor in the Underlying Fund), may have a potential conflict when also acting as investment manager for the Underlying Fund (representing all investors in the Underlying Fund).", "FundRock and Apex NZ share common ultimate ownership through 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 Plato and their families, and staff of FundRock and their families, may from time to time invest in the Fund." ], "fee_waivers": [ { "fund_name": null, "description": "We may waive or decrease the Annual Fund Charges without notice.", "expires": null }, { "fund_name": null, "description": "We may decrease or waive the management fee for the Fund at any time without notice.", "expires": null }, { "fund_name": null, "description": "We may, in our absolute discretion, rebate the buy and sell spread and/or Annual Fund Charges (which includes management fees) by agreement, with an investor, or a group of investors.", "expires": null } ], "performance_fee_mechanics": [ { "fund_name": "Plato Global Alpha PIE Fund", "hurdle_verbatim": "MSCI World Net Total Return Index in New Zealand dollars", "high_water_mark": true, "high_water_mark_reset_terms": "Any previous negative performance fee accruals generated when the Fund underperformed the benchmark must be recovered before a performance fee is payable; there is no stated reset — the negative accrual is carried forward perpetually until recovered, subject to proportional reduction on net withdrawals.", "crystallisation_cadence": "Semi-annually, ending 30 June and 31 December", "cap_pct": null, "performance_fee_terms_full": "The performance-based fee is equal to 15% of the Fund's outperformance (net of management fees) relative to its benchmark return, multiplied by the net asset value of the Fund. The performance-based fee is calculated and accrued each Business Day. The Benchmark used for calculating the performance-based fee is the MSCI World Net Total Return Index in New Zealand dollars. If the benchmark ceases to be published, we will nominate an equivalent replacement index. The performance-based fee is calculated each Business Day and may be positive or negative. If the performance fee is positive, the amount is incorporated in the Fund's unit price. If the performance-based fee is negative, the negative amount will be carried forward. The performance-based fee amount payable by the Fund is equal to the total daily performance-based fee accrual for each semi-annual period, ending 30 June and 31 December. The Investment Manager will only be paid the performance-based fee if the Fund's total daily performance-based fee accrual is positive at the end of each period. That is, any previous negative performance fee accruals generated when the Fund underperformed the benchmark have been recovered. Where the performance fee accrual is negative, and the number of units decreases (for example, due to net withdrawals), the negative accrual is reduced in proportion to the decrease in units. For example, if 5% of units are withdrawn, the negative performance fee accrual is reduced by 5%. An implication of this mechanism is that net redemptions for units could cause negative performance fee accruals to be recovered earlier than if no adjustment to the negative performance fee accrual were made, provided that the Fund subsequently outperforms the benchmark. No equivalent adjustment applies when the number of units increases." } ], "material_risks_not_in_pds_summary": [ { "risk_name": "Fund of fund risk", "description": "The Fund invests in the Underlying Fund and is subject to certain risks associated with an investment in the Underlying Fund, including but not limited to exposure to the investment strategy, performance of and fees and costs (if any) associated with the Underlying Fund." }, { "risk_name": "Short selling risk", "description": "The Underlying Fund will take short positions in securities that Plato expects to fall in value, through derivatives or through borrowing securities and selling them. The key difference between a long position and a short position is that a short position involves the unlimited risk of an increase in the market price of the securities underlying the short position. Such an increase could lead to a substantial loss." }, { "risk_name": "Administration risk", "description": "This is the risk that instructions in relation to your investments in the Fund have not been accurately relayed or processed or that fraudulent instructions are acted upon. FundRock, the Investment Manager, and the Administration Manager will follow reasonable electronic instructions in good faith. Whilst we cannot always detect fraudulent instructions, we will apply best endeavours to mitigate this risk." }, { "risk_name": "Operational risk", "description": "This refers to a range of risks associated with the operation of the Fund and includes human error, systems breakdown, external threats and other factors beyond the Manager's control." }, { "risk_name": "Cybersecurity risk", "description": "The Fund's Manager, Investment Manager, Supervisor and service providers' use of internet, technology and information systems may expose the Fund to potential risks linked to cyber security breaches of those technological or information systems. Cyber security breaches, amongst other things, could allow an unauthorised party to gain access to proprietary information, customer data, or Fund assets, or cause us, Plato, the Supervisor or any other service provider to suffer data corruption or the loss of operational functionality." }, { "risk_name": "Regulatory risk", "description": "Regulatory risk arises from regulatory or taxation changes introduced by a government or a regulator, which may affect the value of securities in which the Fund invests. In many foreign countries there is less government supervision and regulation of stock exchanges, brokers, and listed companies than in New Zealand, which may result in greater potential for fraud or market manipulation. There is also the possibility of sanctions being imposed against issuers in various sectors of certain foreign countries, each of which may limit the ability of the Fund to invest in or sell securities of foreign issuers." } ], "tax_disclosures": [ "The Fund has elected to be a PIE; it allocates taxable income to investors and pays tax on allocated income on behalf of investors at varying prescribed investor rates (PIR).", "Investments in global shares via the Underlying Fund are generally taxed under the Fair Dividend Rate (FDR) method whereby 5% of the opening market value of the global shares is taxable income to the Fund each year.", "Investors will not pay tax on distributions (if any) paid from the Fund.", "If an investor does not provide their PIR to FundRock they will automatically be taxed at the maximum default rate of 28%.", "The Fund has elected to be a foreign investment variable-rate PIE; eligible foreign residents who complete a notified foreign investor (NFI) form are taxed at 0% on non-NZ sourced income, 1.44% on NZ interest income, 15% or 30% on unimputed NZ dividends (DTA or no DTA), and 28% on other NZ sourced income.", "The Underlying Fund may have foreign withholding tax deducted from income it receives; however, such withholding tax cannot be utilised against any PIE tax liability related to investments in the Fund under New Zealand tax law.", "Taxable income is attributed annually to 31 March, or at any time an investor withdraws all or part of their investment from the Fund.", "If there is a tax loss or excess imputation credits, these will generally be available to investors with a PIR other than 0% in the form of a rebate, re-invested by purchasing units or included in redemption proceeds.", "New Zealand tax resident trusts may elect a PIR of 0%, 10.5% (limited circumstances), 17.5%, or 28%; unless 28% is applied, PIE income and credits must be included in the trust's income tax return.", "The Commissioner of Inland Revenue can require FundRock to disregard a PIR notified by an investor if the Commissioner considers the rate to be incorrect." ], "trustee_supervisor": "Public Trust", "auditor": "PricewaterhouseCoopers", "custodian": "Public Trust", "source_paragraphs": [ "The performance-based fee is equal to 15% of the Fund's outperformance (net of management fees) relative to its benchmark return, multiplied by the net asset value of the Fund. The Investment Manager will only be paid the performance-based fee if the Fund's total daily performance-based fee accrual is positive at the end of each period.", "Both we, and the Scheme's registry and administration manager, Apex NZ, are ultimately owned by Apex Group Limited. This common ownership may influence us to agree commercial terms with Apex NZ that are more favourable to Apex NZ than would otherwise be the case.", "The Underlying Fund will take short positions in securities that Plato expects to fall in value, through derivatives or through borrowing securities and selling them. A short position involves the unlimited risk of an increase in the market price of the securities underlying the short position." ], "_match": { "schemeId": "SCH15035", "ourFundName": "PLATO GLOBAL ALPHA PIE FUND", "scope": "scheme-level" } }, "sources": { "fmaDisclose": "https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Plato%20Global%20Alpha%20PIE%20Fund", "sortedSmartInvestor": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH15035/OFR15092/FND62005/", "productDisclosureStatement": "/disclose-document/de64be4581770cc6/Plato-Investment-Funds---PDS---8-May-2026.pdf", "pdsExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/de64be4581770cc6/Plato-Investment-Funds---PDS---8-May-2026.pdf", "sipoExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/3ad1361a5d4be367/Plato-Investment-Funds---SIPO---8-May-2026.pdf", "omiExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/9f0daa023ec3ccd1/Plato-Investment-Funds---OMI---8-May-2026.pdf" }, "licence": { "reuse": "Citation with link-back to canonicalUrl required. No paid redistribution.", "contact": "hello@managedfunds.nz" } }