QuayStreet Income

QuayStreet Income runs just $4.8 million in assets, making it one of the smallest conservative funds on the market. Its fee of 0.75 percent sits at the higher end for the category, though the fund has delivered 7th place over one year and climbed to 2nd over five years.

The portfolio is overwhelmingly domestic, with 61 percent in New Zealand bonds and another 26 percent in international fixed interest. Growth assets barely register at 8 percent. The bond book is actively managed and granular: the top holdings include inflation-linked government bonds maturing in 2035 and 2040, subordinated bank notes from ANZ and NAB, and corporate debt from Kiwibank, Chorus, Goodman Property Trust and Channel Infrastructure. Metlifecare and listed property exposure round out a portfolio built around income and capital preservation.

The fund's small scale means it can move nimbly within New Zealand credit markets, but also raises questions about liquidity and institutional support. Its long-term record places it near the top of conservative funds, though recent performance has been middling. This is a concentrated, bond-heavy strategy with minimal equity exposure and a domestic tilt.

General information only, not financial advice. Past performance is not a reliable indicator of future results.