First Mortgage PIE Trust

About this fund

In their own words

YOUR INVESTMENT WILL COMPRISE UNITS IN THE FIRST MORTGAGE PIE TRUST. THE FIRST MORTGAGE PIE TRUST INVESTS IN A POOLED INVESTMENT VEHICLE CALLED THE FIRST MORTGAGE TRUST GROUP INVESTMENT FUND WHICH INVESTS IN A PORTFOLIO OF LOANS SECURED BY REGISTERED FIRST MORTGAGES OVER LAND AND BUILDINGS IN NEW ZEALAND AND BANK DEPOSITS. THE INVESTMENT OBJECTIVE IS TO PROVIDE INVESTORS WITH AN INCOME RETURN AT A LEVEL WHICH WILL NORMALLY BE BETTER THAN BANK DEPOSITS AND COMPETITIVE WITH COMPARABLE INVESTMENT PRODUCTS. WHILE THIS CANNOT BE ASSURED, THE MANAGER'S OBJECTIVE IS TO GIVE INVESTORS A PRE-TAX RETURN (AFTER FEES AND EXPENSES) PER QUARTER OF AT LEAST 100 BASIS POINTS HIGHER THAN THE WEIGHTED AVERAGE REGISTERED BANKS' SIX MONTH DEPOSIT RATES (AS PUBLISHED BY THE RESERVE BANK).

Key Personnel

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.

• Portfolio holdings v

Investment Exclusions

Does this fund exclude companies that cause deep concern to New Zealanders? The first column shows if the fund has a credible policy to exclude the issue. The second column shows if there are any current investments (source: Mindful Money research).

Note that the fund’s exclusions policy may not be consistent with its portfolio holdings because the fund might be still implementing its policy change or the fund’s exclusion policy and thresholds may be different from the definitions applied by Mindful Money.

This data is compiled by Mindful Money from the fund information and portfolios that each fund has filed with the Disclose register to 30th Sept. 2022 and Mindful Money analysis of funds within those portfolios. The list of companies of concern has been drawn from ratings agencies and public sources, including the Norwegian Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.

Note that many funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons. Similarly Mindful Money uses a broader scope for fossil fuels than the government’s rules for default KiwiSaver funds. The full definitions used in the Mindful Money analysis are here.

Past Returns

Past annual returns for this fund are after fees and taxes. Please note that higher past returns do not always mean higher future returns.

The market average is the average return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.

Top 10 Investments

Investment Mix

How the money in this fund is invested against the fund's targets.

This information has been sourced from the quarterly data that each fund has filed with Disclose register to 31st Dec. 2022.