Booster Innovation Fund vs Hunter Diversified Private Credit Fund

The most material structural difference is asset class and return objective. Booster Innovation Fund targets private equity and aims to "deliver a significant total rate of return (net of fees but before tax) that outperforms the NZX 50 Index over rolling 15-year periods" — a long-horizon equity-benchmark mandate. Hunter Diversified Private Credit Fund targets private credit and seeks "4% per annum higher than the New Zealand Official Cash Rate over a rolling 3-year period" — a shorter-horizon, floating-rate income mandate. These differences in underlying risk, return driver, and measurement horizon are fundamental to how each fund behaves in a portfolio.

On fees, the structures diverge sharply. Booster charges no base management fee but applies a 20% performance fee above a 10% hurdle rate. Hunter charges a 0.83% management fee; its IM does not specify a performance fee or hurdle rate. Minimum investment also differs substantially: Booster's is NZD 500, while Hunter's is NZD 100,000. Both are PIE structures, though Booster's PIE status is verified from its PDS and Hunter's is inferred. Booster is not wholesale-only; Hunter's IM does not specify.

Liquidity terms are similar in spirit but differ in detail. Booster offers quarterly redemptions with explicit acknowledgement that the fund is "not readily redeemable." Hunter offers monthly redemptions but may suspend or defer them for up to six months. Hunter also pays quarterly distributions; Booster's IM does not disclose a distribution policy. Hunter's inception date (December 2016) gives it a longer track record than Booster's (November 2021). AUM is disclosed only for Booster (NZD 23.4 million); Hunter's IM does not specify.

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