Diversified Income Fund

Since inception return


p.a. as at -

Returns since - after fees and before tax

1 year return


As at -

After fees and before tax

Risk Profile

Lower risk Higher risk

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lower returns
higher returns

Target Income / Growth Assets


Base Fund Fee


Plus performance fee

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This Fund is for investors seeking:

• Capital growth over at least 3 years

• Quarterly income from their investment

• A low to medium risk investment

• Diversified exposure to primarily fixed interest securities and equity income-generating securities

David Lewis, Portfolio Manager

David is Deputy Head of Investments and is the Portfolio Manager of the Milford Diversified Income Fund. He is also the Co-Manager of the Milford Trans-Tasman Bond & Global Bond Funds. David joined Milford in 2013 from Merrill Lynch where he worked in Sydney and London for eight years in a variety of areas including credit research, emerging market research, and principal investments in high yield/distressed credit. Prior to this, David spent four years as a fixed income analyst at BT Funds Management and Principal Global Investors, based in Sydney and London. David has a Bachelor of Commerce in Economics from the University of Canterbury, a Master of Commerce in Finance from the University of Sydney, and is a CFA Charterholder.

Jonathan Windust, Portfolio Manager

Jonathan is the Deputy Head of Investments, Portfolio Manager of the Milford Active Growth Funds (Unit Trust & KiwiSaver) and Co-Manager of the Milford Diversified Income Fund. Prior to joining Milford in 2008, Jonathan worked for Gartmore Investment Management in London where he was Portfolio Manager for the Royal Bank of Scotland Pension scheme which had assets in excess of NZ$25 billion. While at Gartmore, Jonathan was also responsible for investment strategy and investments into individual private equity funds and companies across Europe and Asia. Prior to Gartmore, Jonathan worked for BT Funds Management, Frank Russell and the New Zealand Dairy Board (now Fonterra). Jonathan is a CFA Charterholder.

  • How do distributions work?

    Some of our funds pay distributions at set intervals.  Distributions are  a way for some of the fund’s returns to be paid out to investors, in the form of cash payments.  The portfolio managers have set the distribution amounts at levels they feel are sustainable, given the current and expected future environment.  The amount paid to each investor is based on the number of cents per unit held.

    If you are investing into a fund that pays regular distributions but opt not to receive the cash, it will instead be reinvested and used to purchase additional units in that fund.

    Distributions from the funds are non-taxable events and are not treated as income for tax purposes.

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