Devon Australian Fund (Wholesale) vs Hunter Diversified Private Credit Fund

The most material structural difference is asset class and return profile. Devon Australian Fund invests in Australasian equities, offering market-linked returns with no stated target, while Hunter Diversified Private Credit Fund targets illiquid private credit assets with an explicit return objective of "4% per annum higher than the New Zealand Official Cash Rate over a rolling 3-year period." This difference drives divergent liquidity terms: Devon offers daily redemptions, whereas Hunter operates on a monthly cycle and discloses more granular gate language — suspensions can last "up to six months" and partial or zero redemptions are possible if liquidity is insufficient. Devon's gate disclosure is broader and less specific on duration.

Both funds share the same supervisor (The New Zealand Guardian Trust Company Limited), PIE status, and unit trust structure. Management fees are close — Devon at 0.87% and Hunter at 0.83% — though Devon's IM does not disclose a performance fee position while Hunter's fee structure warrants direct verification. Distribution frequency differs: Devon pays semi-annually versus Hunter's quarterly. The minimum investment gap is significant: Devon requires NZ$10,000 against Hunter's NZ$100,000. Hunter discloses an inception date of December 2016; Devon's IM does not specify one. Hunter's manager of record is Harbour Asset Management Limited, while the provider is listed as Hunter Capital — investors should clarify the precise management relationship from source documents. Devon's IM does not specify an LVR or leverage cap; Hunter's IM does not either.

Always verify all details against the current source IM or PDS before relying on this summary.