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

The most material structural difference is asset class and liquidity profile. Devon Diversified Income Fund invests across a multi-asset income universe and offers daily redemptions, while Hunter Diversified Private Credit Fund is concentrated in private credit — an inherently less liquid asset class — and restricts redemptions to monthly. Hunter's gate provisions are also more explicit: its IM states suspensions "can last up to six months" and that the fund "may provide a partial (or zero) redemption" if liquidity is insufficient; Devon's IM acknowledges the ability to suspend or defer but does not specify a maximum suspension period or partial-redemption mechanic.

The minimum investment requirement differs substantially: Devon sets an entry point of NZD 10,000 versus Hunter's NZD 100,000. Management fees also diverge — Devon charges 0.52% versus Hunter's 0.83% — though the higher fee on Hunter reflects private-credit sourcing and due-diligence costs typical of that asset class. Hunter publishes a verbatim target return of "4% per annum higher than the New Zealand Official Cash Rate over a rolling 3-year period"; Devon's IM does not disclose a comparable target return figure. Both funds are PIE-eligible unit trusts sharing the same supervisor, The New Zealand Guardian Trust Company Limited, and both distribute quarterly. Hunter's inception date is recorded as December 2016; Devon's IM does not specify an inception date. Hunter's manager of record is Harbour Asset Management Limited, while Hunter Capital is the provider entity — readers should clarify that relationship in the source documents.

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