Hunter Diversified Private Credit Fund vs PCG Diversified New Zealand Private Debt Fund

The most material structural difference between these two funds lies in their gate provisions and redemption frameworks. The Hunter Diversified Private Credit Fund offers monthly redemptions but reserves the right to suspend or defer them for up to six months if deemed in investors' collective best interests, with partial or zero redemptions possible in low-liquidity months. The PCG Diversified New Zealand Private Debt Fund operates redemptions at the manager's discretion with proceeds paid within ten business days of acceptance, but can suspend redemptions for up to 365 days — nearly double Hunter's maximum suspension window — triggered when redemption requests exceed 5% of units on issue over any three-month period, or under broader adverse market conditions. PCG's longer potential lock-up is a meaningful liquidity risk distinction.

Both funds share the same headline target return — OCR plus 4.0% per annum — though Hunter frames it "over a rolling 3-year period" while PCG specifies the return is "net of management fees and fund costs and before tax," a disclosure PCG makes explicit where Hunter's IM does not. Both are PIE unit trusts investing in private credit, open to wholesale investors only, and PIR-eligible. Hunter's management fee is 0.83% versus PCG's 0.75%. Hunter's minimum investment is NZD 100,000; PCG's is NZD 125,000. PCG discloses first-mortgage security type; Hunter's IM does not specify collateral type. Hunter distributes quarterly; PCG distributes monthly. Supervisors differ: NZ Guardian Trust (Hunter) versus Public Trust (PCG). Hunter launched December 2016; PCG in March 2022.

Verify all details against each fund's current source IM or PDS before relying on this summary for any investment decision.