Artesian Green & Sustainable Bond Fund (Wholesale) vs Norfolk Mortgage Trust Fund

The most material structural difference is asset class and underlying risk profile: Artesian Green & Sustainable Bond Fund holds publicly traded green and sustainable fixed-interest securities, while Norfolk Mortgage Trust Fund deploys capital into private credit secured by first mortgages, with a disclosed maximum LVR of 75% — a security mechanism Artesian's IM does not specify because it is not mortgage-backed.

Fee structures diverge sharply. Artesian charges a management fee of 0.34% with no performance fee; Norfolk charges 2.5% with no performance fee disclosed. Target returns reflect these different risk-return propositions: Artesian aims "to outperform the benchmark net of fees through active management," whereas Norfolk targets "to exceed the Six-month term deposit rate (published by the RBNZ) by 1.4% per annum (after the deduction of fees and expenses)."

Liquidity terms are also meaningfully different. Artesian offers daily redemptions, subject to a general suspension power. Norfolk operates on an at-exit basis with 183 days' notice and a tiered gate: redemptions exceeding 5% of units in three months may be suspended; requests exceeding 20% require an investor meeting.

Both funds are PIEs and PIR-eligible. Distributions differ — quarterly for Artesian, monthly for Norfolk. Artesian's minimum investment is NZD 10,000; Norfolk's is NZD 5,000. Artesian launched in March 2026; Norfolk has operated since 2006. Both are Auckland-based. Norfolk explicitly notes it is not wholesale-only; Artesian's IM does not address this point.

Verify all details against each fund's current IM or PDS before relying on this summary.