Devon Global Impact Bond Fund (Wholesale) vs Devon Global Sustainability Fund (Wholesale)

The most material structural difference between these two funds is asset class: the Devon Global Impact Bond Fund invests in global fixed interest, while the Devon Global Sustainability Fund invests in global equities. This distinction drives meaningfully different risk-return profiles and explains the significant divergence in management fees — 0.34% per annum for the bond fund versus 0.95% for the equity fund, a gap of 61 basis points that compounds materially over time.

Both funds share the same target-return framing — seeking "long-term total returns in excess of the index" — though the bond fund pursues this "by investing in a diverse portfolio of global bonds" and the equity fund "by investing in a selective portfolio of global equities." The word "selective" versus "diverse" may signal differing concentration approaches, though neither IM elaborates further on portfolio construction limits in the extracted facts.

Structurally, the two funds are closely matched: both are PIE unit trusts managed by Devon Funds Management Limited, supervised by The New Zealand Guardian Trust Company Limited, with daily redemptions, a $10,000 minimum investment, and identical gate language — "We have the ability, in certain circumstances to suspend or defer redemptions." One difference in disclosed terms: the bond fund specifies quarterly distributions, while the equity fund's distribution frequency is not captured in the extracted facts.

Both funds are PIR-eligible, making tax treatment comparable at the investor level, subject to individual circumstances.

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