Devon Dividend Yield Fund (Wholesale) vs Devon Sustainability Fund (Wholesale)

The most material structural difference between these two funds is their investment universe and associated fee structure. The Devon Sustainability Fund (Wholesale) explicitly targets Australasian equities with an ESG or sustainability screen implied by its name, while the Devon Dividend Yield Fund (Wholesale) is described more broadly as an equities fund with a yield-oriented mandate — a distinction that signals meaningfully different portfolio construction approaches and risk exposures despite both sitting within the same asset class.

On fees, the Dividend Yield Fund carries a lower management fee of 0.62% per annum and also charges a performance fee of 10%, whereas the Sustainability Fund charges a higher base management fee of 0.87% per annum and its IM does not specify any performance fee. Investors comparing total cost of ownership should weigh a lower base fee with a performance fee overlay against a higher flat fee with no disclosed performance fee component.

Distribution frequency also differs: the Dividend Yield Fund pays quarterly, consistent with its income-oriented mandate, while the Sustainability Fund distributes semi-annually. Both funds are PIE unit trusts, both are PIR-eligible, both offer daily redemptions subject to identical gate-provision language — "We have the ability, in certain circumstances to suspend or defer redemptions" — both require a $10,000 minimum investment, and both are managed by Devon Funds Management Limited under The New Zealand Guardian Trust Company Limited as supervisor.

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