Devon Australian Fund (Wholesale) vs Devon Trans-Tasman Fund (Wholesale)

The most material structural difference between these two funds is that the Devon Trans-Tasman Fund (Wholesale) discloses a performance fee of 10%, while the Devon Australian Fund (Wholesale)'s IM does not specify any performance fee. Both funds carry an identical base management fee of 0.87%, but investors in the Trans-Tasman Fund may face additional cost drag in periods of outperformance — a factor that can meaningfully affect net returns over time.

The two funds also differ in geographic scope despite sharing the same broad asset class label of Australasian equities. The Australian Fund's name and framing suggest a focus on Australian securities, whereas the Trans-Tasman Fund's mandate implies a blend of both Australian and New Zealand equities; however, neither IM excerpt provides explicit portfolio weighting ranges, so investors should consult the full documents for precise geographic allocation rules.

Where the funds are identical: both are PIE unit trusts managed by Devon Funds Management Limited and supervised by The New Zealand Guardian Trust Company Limited, both are PIR-eligible, both carry a NZ$10,000 minimum investment, both offer daily redemptions subject to gate provisions (worded slightly differently — "suspend or defer" versus "defer or suspend" — but materially equivalent), and both distribute semi-annually.

No target return strings were extracted for either fund, and neither IM excerpt discloses an LVR cap or leverage policy.

Always verify these details against the current source IM or PDS before making any investment decision.