Devon Trans-Tasman Fund (Wholesale) vs Hunter Diversified Private Credit Fund

The most material structural difference is asset class and liquidity profile. Devon Trans-Tasman Fund invests in listed Australasian equities and offers daily redemptions, while Hunter Diversified Private Credit Fund invests in private credit — an inherently less liquid asset class — with only monthly redemptions. Hunter's gate provisions are notably more detailed, specifying that 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 states redemptions may be deferred or suspended but does not specify a maximum suspension period.

Both funds are PIE-eligible unit trusts sharing the same supervisor, The New Zealand Guardian Trust Company Limited. Management fees are close — Devon at 0.87% versus Hunter at 0.83% — but Devon adds a 10% performance fee; Hunter's IM does not disclose a performance fee. 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 state a comparable target return figure. Hunter's minimum investment is $100,000 against Devon's $10,000, and Hunter distributes quarterly versus Devon's semi-annual distributions. Hunter discloses an inception date of December 2016; Devon's IM does not specify one. Notably, Hunter is managed by Harbour Asset Management Limited despite being a Hunter Capital product, while Devon is managed by Devon Funds Management Limited; Hunter's FSP number is not on file.

Verify all details against the source IM or PDS before relying on this summary.