Smartshares NZ Top 50 ETF Analysis

Overview

The NZ Top 50 Fund is a unit trust, as defined in the Unit Trusts Act 1960. The beneficial interest in the Fund is divided into units with each unit representing an equal interest in the assets of the Fund, but not conferring any interest in any specific asset of the Fund.

The objective of the Fund is to invest in a portfolio of NZX-listed entities to provide a return that closely matches the return on the S&P/NZX 50 Portfolio Index. The index comprises the same constituents as the S&P/NZX 50 Index, but with a 5% cap on the float-adjusted market capitalisation. The capped methodology is designed to provide exposure to a diversified portfolio that is more aligned with what a retail investor may hold.

FNZ has been granted Listing with a 'Non-Standard' ("NS") designation. This designation was granted due to provisions in FNZ's Trust Deed which allow the fund manager to take steps to ensure statutory limits on the size of an investor's holdings. For further information, please see a copy of the waiver under Documents on FNZ's homepage on nzx.com.

Performance

No performance was provided by the company.