PG Income Opportunities Fund vs PG Strategic Growth Fund

The most material structural difference between these two funds is asset class and associated fee structure. The PG Income Opportunities Fund invests across equity and fixed income, targeting "NZ Official Cash Rate + 2.5%", while the PG Strategic Growth Fund focuses exclusively on international equities and discloses no equivalent target return figure in the extracted data. This distinction in mandate drives a meaningful cost divergence: the Income Opportunities Fund charges a management fee of 0.95% with no performance fee disclosed, whereas the Strategic Growth Fund carries a higher base management fee of 1.20% plus a 10% performance fee — meaning the Strategic Growth Fund's total cost to investors will vary depending on returns achieved above any applicable hurdle, though the IM extraction does not specify the hurdle rate or high-water mark terms.

Both funds share considerable structural commonality: both are PIE-eligible trusts, both are open to retail and wholesale investors, both are managed by PG Funds Limited and supervised by The New Zealand Guardian Trust Company Limited, and both set a $1,000 minimum investment. Redemption terms are identical — "at any time" — with the same gate provision of "$10 million maximum redemption per investor account over a rolling four weeks." Both distribute monthly.

One disclosure gap worth noting: the Income Opportunities Fund's target return is flagged as "not on file from SIPO," meaning it was inferred from the PDS rather than a SIPO document; the Strategic Growth Fund discloses no target return at all in the extracted data.

Verify all details against the source PDS and SIPO before relying on any of this information.