PG Global Alternatives Fund vs PG Strategic Growth Fund

The most material structural difference between these two funds is their underlying asset class and associated return profile. PG Global Alternatives Fund targets private equity exposures and carries a stated target return of "NZ Official Cash Rate + 3%," whereas PG Strategic Growth Fund targets international equities and discloses no equivalent target return figure in the extracted data — a meaningful disclosure gap for investors assessing expected outcomes.

Management fees also diverge: the Alternatives Fund charges 1.4% versus the Strategic Growth Fund's 1.2%, though both funds share an identical performance fee of 10% and the same $1,000 minimum investment. Both are PIE-structured trusts, both are PIR-eligible, both are open to retail and wholesale investors, and both are managed by PG Funds Limited with The New Zealand Guardian Trust Company Limited acting as supervisor — a notable degree of structural alignment across two distinct strategies.

On liquidity, both funds permit redemptions "at any time" and apply the same gate provision of "$10 million maximum redemption gate per investor account over a rolling four weeks." One difference in the extracted data is that the Strategic Growth Fund discloses a monthly distribution frequency, while the Alternatives Fund's IM does not specify a distribution schedule. It should also be noted that several Strategic Growth Fund data points are inferred rather than directly verified from the PDS, which introduces a degree of additional uncertainty in that fund's disclosures.

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