Security - Milford Asset

Milford KiwiSaver Plan investor security

The Milford KiwiSaver Plan is a managed investment scheme.

What is a managed investment scheme?

Under a managed investment scheme, your money is pooled with that of other members of the relevant Fund. The interests of members are represented by units, which confer an equal interest in a Fund and are of equal value.
An investor buys or sells units at the daily unit price of the units. The unit price moves up and down daily reflecting the change in the value of the total underlying investments in the Unit Trust divided by the number of current units.

The underlying assets are not held in the name of the Manager and are held separately from its assets and liabilities, so that if for any reason the Manager fails, the assets of the Fund are protected.

The Manager must appoint an independent Supervisor and may engage with a number of other independent parties to ensure investors’ monies are appropriately handled.

The Manager – Milford Funds Limited
The Manager manages the assets of the managed investment scheme in accordance with the particular managed investment scheme’s stated investment criteria.

The Supervisor – Trustees Executors Limited
The Supervisor (who is licensed by the Financial Markets Authority) provides oversight of the Manager’s activities and monitors that all obligations to investors are being discharged correctly.
The Supervisor, or its nominated Custodian, will hold the legal title to the assets of the Fund for the benefit of the investors.
The Supervisor’s function is to monitor that the rights of investors are protected, and ensure compliance with the trust deed.

The Custodian – National Australia Bank
The Custodian is nominated by the Supervisor to provide safe keeping of the Fund’s assets. It is independent of the Manager.
The Custodian holds the assets of the fund in the Supervisor’s name.

The Administration Managers –Trustees Executors and MMC Limited
MMC Limited (independent of all other parties) calculates the daily unit prices, and provides all accounting services for the Funds.
The security services division of Trustee Executors provides registry services and maintains investor records.

 

We do not handle our clients’ money at any time. All money is held by an independent custodian controlled by an independent licensed Supervisor (Trustee Executors Limited) to ensure security. All payments and receipts of monies are made between the client and the Trustee. All assets are held by the Supervisor through its nominated custodian, National Australia Bank Limited.

Trustees Executors Limited has been granted a full licence by the Financial Markets Authority under the Securities Trustees and Financial Markets Supervisors Act 2011 to act as Supervisor. Trustees Executors Limited is also governed by the Trustee Act 1956. Further information on the Supervisor’s licence is publicly available on the Financial Markets Authority website www.fma.govt.nz

Both the Supervisor and the Custodian are independant of Milford.

Milford Asset Management Limited                
Tuesday, November 21, 2017
MTD PERFORMANCE FIGURES
PORTFOLIOFUND NAMEHIPORT CODEPREVIOUS MONTH END DATEPREVIOUS MONTH END UNIT PRICEDistribution DateDISTRIBUTIONS IN PERIOD (DOLLARS PER UNIT)PREVIOUS UNIT PRICE DATEPREVIOUS UNIT PRICECURRENT UNIT PRICE DATECURRENT UNIT PRICE% DAY MOVEMENT IN UNIT PRICE% MTD MOVEMENT IN UNIT PRICE
700100Milford Active Growth Wholesale FundWMLAGF31/10/172.15290.000020/11/172.159021/11/172.16480.27%0.55%
700101Milford Dynamic Wholesale FundWMLDNC31/10/171.82150.000020/11/171.847021/11/171.85110.22%1.63%
700102Milford NZ Equities Wholesale FundWMLNZE31/10/172.58310.000020/11/172.553621/11/172.55730.14%-1.00%
700103Milford Australian Equities WholesaleWMLAEQ31/10/171.32680.000020/11/171.336021/11/171.34040.33%1.03%
700104Milford Global Select Wholesale FundWMLGLB31/10/171.68940.000020/11/171.722721/11/171.73310.60%2.59%
700105Milford Income Wholesale FundWMLINC31/10/171.96410.000020/11/171.971121/11/171.97520.21%0.57%
700106Milford Trans-Tasman Bond Wholesale FundWMLTTB31/10/171.11040.000020/11/171.114121/11/171.11450.04%0.37%
700107Milford Global Bond Wholesale FundWMLGBF31/10/171.04110.000020/11/171.039721/11/171.04080.11%-0.03%
700200Milford Retail Active Growth FundMILAGG31/10/173.26160.000020/11/173.270521/11/173.27790.23%0.50%
700201Milford Retail Dynamic FundMILDNC31/10/171.67320.000020/11/171.695421/11/171.69910.22%1.55%
700202Milford Retail Balanced FundMILBAL31/10/172.07100.000017/11/172.074620/11/172.07530.03%0.21%
700203Milford Retail Trans-Tasman FundMILTTA31/10/172.49210.000020/11/172.475021/11/172.48240.30%-0.39%
700204Milford Retail Global FundMILGLB31/10/171.46600.000017/11/171.472220/11/171.47310.06%0.48%
700205Milford Retail Diversified Income FundMILINC31/10/171.660320/11/170.016020/11/171.649421/11/171.65250.19%0.49%
700206Milford Retail Conservative FundMILCON31/10/171.10200.000020/11/171.105121/11/171.10660.14%0.42%
700300Milford KiwiSaver Active GrowthMILKSA31/10/173.29030.000020/11/173.299121/11/173.30670.23%0.50%
700301Milford KiwiSaver BalancedMILKSB31/10/172.10940.000017/11/172.113220/11/172.11380.03%0.21%
700302Milford KiwiSaver ConservativeMILKSC31/10/171.63900.000020/11/171.643521/11/171.64570.13%0.41%
700400Milford AON KiwisaverAONKSA31/10/173.29620.000020/11/173.305021/11/173.31260.23%0.50%
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