The Russell Investments Global Fixed Interest Fund (the Fund) is a PIE-compliant New Zealand-domiciled fund with investments managed by Russell Investments. FundRock NZ Ltd is the issuer and manager of the Fund. The Fund is registered as an offer within a Managed Investment Scheme under the Financial Markets Conduct Act 2013 and is regulated by the FMA.
The objective of the Fund is to provide a total return, before costs and tax, higher than the Bloomberg Global Aggregate Index – New Zealand dollar Hedged over the long term. The fund targets a 20% carbon footprint reduction of the corporate debt portion of the fund relative to its market index.
Strategy: The underlying investment exposure is predominantly to debt securities issued by supranationals, international governments, quasi-government agencies and corporates as well as structured credit securities including mortgage-backed and asset backed securities. The underlying investment portfolio may also be exposed to low grade or unrated debt securities, emerging market securities and currency. Derivatives may be used to obtain or reduce exposure to securities and markets, to implement investment strategies and to manage risk. Corporate debt with more than 25% revenue from coal power generation or thermal coal production is prohibited. The Fund targets a position of being fully hedged back to New Zealand Dollars. Due to active currency management by the underlying managers, there will generally be some foreign currency exposure
