Norfolk Mortgage Trust Fund vs PG Property and Infrastructure Fund

The most material structural difference between these two funds is the depth of disclosed information available for comparison. Norfolk Mortgage Trust Fund's PDS provides verified data across all key investment parameters, while PG Property and Infrastructure Fund's extracted facts are uniformly marked "not_on_file from PDS," meaning no target return, fee, LVR cap, redemption terms, or liquidity provisions have been disclosed in the structured data available here.

On what can be compared: both funds share a trust structure, PIE status, and PIR eligibility, and both are supervised by established New Zealand entities — Norfolk by Public Trust, PG by The New Zealand Guardian Trust Company Limited. Both are Auckland-based managers.

Where they diverge on disclosed terms: Norfolk sets a minimum investment of NZD 5,000 versus PG's NZD 1,000. Norfolk's target return is "to exceed the Six-month term deposit rate (published by the RBNZ) by 1.4% per annum (after the deduction of fees and expenses)"; PG's IM does not specify a target return. Norfolk discloses a 2.5% management fee, a first-mortgage security type, a maximum LVR of 75%, monthly distributions, a 183-day redemption notice period, and structured gate provisions triggering at 5% and 20% of units. PG's IM does not specify any of these terms. Norfolk has an inception date of 2006; PG's is not on file. Norfolk is not restricted to wholesale investors; PG's eligibility criteria are not disclosed.

Readers should verify all details directly against each fund's current IM, PDS, or SIPO before relying on any of this information.