The Harbour Active Growth Fund has been issued a “4 IP” rating by Research IP, with a score of 3.61/5.
The Fund is designed to provide investors with exposure to a wide range of domestic and global assets. The Fund invests approximately two thirds in growth assets such as shares, property and infrastructure and approximately one third into more defensive assets, predominantly investment grade bonds.
What is the Fund’s competitive advantage?
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https://platform.research-ip.com/funds/68581393
Research IP says
“The Harbour Active Growth Fund (“the Fund”) is a new strategy designed to provide investors with exposure to a wide range of domestic and global assets. The Fund invests approximately two thirds in growth assets such as shares, property and infrastructure and approximately one third into more defensive assets, predominantly investment grade bonds. The Manager will use active management to enhance returns and manage downside risks. The Fund is actively managed, harnessing the expertise of Harbour’s two award-winning investment teams, Equities and Fixed Income. It draws on Harbour’s research and resources, brought together by portfolio manager Chris Di Leva. The Manager utilises an active management style, aiming to deliver returns through a mix of beta and alpha, while there are a number of other alpha sources targeted including asset allocation, FX, security selection, duration, as well as looking to add value in credit sectors.“
“Research IP believes the asset allocation has the potential to be dynamic and change quickly. In saying that, Research IP observes the Fund has methodically and incrementally implemented asset allocation changes to date. The Fund has the flexibility to hold material positions ranging from 0% – 60% in equities, 0%-50% in fixed interest and 2.5%-30% in cash. The Fund’s asset allocation decisions can have a material impact on performance, as well as security selection. It is important to note that the asset mix and hence the risk profile of the fund can change over time.“
“Research IP observes that the manager’s basic fee (0.77% ex GST) is lower than the average fee of sector peer relevant funds. Estimated other expenses of 0.19% (ex GST) are also reasonable when compared to peers and should fall with FUM growth.“
Research IP, 11 May 2020
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