CQuest Forestry Fund vs Hunter Diversified Private Credit Fund

The most material structural difference between these two funds is asset class and return profile. CQuest Forestry Fund targets illiquid, long-duration forestry assets under a Limited Partnership structure, pursuing a "9-12% p.a. IRR (target internal rate of return over the investment's lifetime)" — a fixed-horizon return expressed as an IRR, implying capital is committed for the fund's full life with no ongoing redemption mechanism disclosed. Hunter Diversified Private Credit Fund, structured as a Unit Trust and PIE-eligible, targets a floating return of "4% per annum higher than the New Zealand Official Cash Rate over a rolling 3-year period," meaning actual returns move with the OCR. Hunter's PIE status and PIR eligibility are material for investors with personal tax rates above 28%; CQuest is not a PIE.

Liquidity terms diverge significantly. Hunter offers monthly redemptions, though its PDS discloses meaningful gate provisions — suspensions of up to six months and the possibility of partial or zero redemptions in constrained liquidity environments. CQuest's IM does not specify any redemption mechanism, consistent with a closed-end partnership model. Hunter discloses a management fee of 0.83% p.a.; CQuest's IM does not specify a fee figure. Hunter's minimum investment is NZD 100,000 versus CQuest's NZD 50,000. Hunter has been operating since December 2016; CQuest is a 2025 inception fund with no track record yet available. Hunter discloses an independent supervisor (NZ Guardian Trust); CQuest's IM does not name an equivalent oversight entity.

Verify all details against the source IM or PDS before relying on this summary.