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

The most material structural difference is asset class and return profile. Devon Sustainability Fund (Wholesale) invests in Australasian listed equities, giving investors mark-to-market pricing and daily liquidity. Hunter Diversified Private Credit Fund allocates to private credit, an illiquid asset class, with a stated target of "4% per annum higher than the New Zealand Official Cash Rate over a rolling 3-year period"; Devon's IM does not publish an equivalent target return figure.

Liquidity terms reflect this distinction. Devon offers daily redemptions, subject to a general ability to "suspend or defer redemptions" in certain circumstances. Hunter operates on monthly redemptions with more explicitly detailed gate provisions: suspensions can last up to six months, and if fund liquidity is insufficient, investors may receive partial or zero redemptions in a given month.

Both funds share the same supervisor (The New Zealand Guardian Trust Company Limited), the same PIE and unit trust structure, and both are PIR-eligible. Management fees are close — Devon at 0.87% and Hunter at 0.83% — though fee comparison across different asset classes has limited meaning. The minimum investment differs materially: Devon requires NZ$10,000 versus Hunter's NZ$100,000. Distributions are semi-annual for Devon and quarterly for Hunter. Hunter discloses an inception date of December 2016; Devon's IM does not specify one in the extracted data. Hunter's IM names Harbour Asset Management Limited as manager despite the Hunter Capital provider branding, which investors should clarify directly.

Always verify all details against each fund's current source IM or PDS before making any investment decision.