Pie funds

[Toulouse - Luzern]

[QUOTE=Schrodinger;690315]Why pick Pie over Superlife? Return for a mix of ETF's look similar between both.

2 day withdrawal liquidity v 1 month? I have assessed this recently.

I am not convinced they can outperform the market in a meaningful way over 10 years to justify risk v reward.


I too have been considering this fund...

Agreed, the various points by posters about outperfomance, and fees and withdrawal issues and timing are factors to consider ...

The investment statement has the broadest investment options.

I understand the view that diversification of energy at PF into many areas may impact results.

Pie track record in the new areas is unknown and a learning curve is possible.

That said fluid situations may mean greater opportunities and the world markets are cuurently impacted by change and uncertainty:

As examples
NZ new govt
AU High Court - MPs etc being forced to resign
Japan Election
Germany Election
Spain Catalan
Other elections in Eurozone
UK & Euro - Brexit
US Unpredictable

I will attempt to post later my Excel analysis (E&OE and DYOR caveats) of some Pie Funds recent performance.
Source PF newsletter and Morningstar current data.

[Toulouse - Luzern]

Attachment 9261Attachment 9261

Observations
1 High amounts of cash for equity funds
2 Some funds underperformance over many months


Interested in comments

[Joshuatree]

How many funds are there?
Ive got the below and know the best returns were in the first years not sure what return has been in last 1 and 2 years.

Pie Australasian Emerging fund up 206% since May13 = 47% av year
Pie australasian divi fund up 76% since july 2013=17.55 av year
Pie Global smaller cos up 47% since sep 2013=12% av year

[Fred114]

Agree with many of the recent sentiments in this post, attempting to find their focus as fund managers. Attracted at the beginning to risk of small caps, but performance has lagged in recent years, for risk and comparable fee. Confirm that they are open to discuss. I dislike their exuberant marketing, but downed the chocs as a tempter for their latest open fund that arrived by courier last month. Will probably decline the offer to enter the new fund.....

Figures I have from sharesight.....

	1 mth	6 mth	1 yr	2 yr
Growth fund	1%	3.87%	-15%	1.39%
Dividend	1.8%	7.23	2.48	17
Small companies	3.89	7.73	18.3	11.26
Emerging	7.71	11.7	3.27	18.4
Growth 2	3.03	15.39	7.11	19.24

Comments welcome.......

[Toulouse - Luzern]

Thanks JT and Fred114 for your comments.

From mid September to the present I note that all the PF funds I analysed have increased steadily to reach all time highs.

This may be due in part to the election process and falling NZ $.
If so thank you Winston, Miss Adern and Grant.
(PF hedging policy is unknown to me)

In my previous post I showed September one month % gains.

Looking at the results for October month to date - from 30 September 2017 valuations to 26 October 2017 (25 October for Global) gives these % increases.

(E&OE)

AU Dividend 1.83%
Global 3.74%
AU Growth 2 2.28%
UK Euro 3.95%

In a few days PF will update these with the official results.

[bull....]

Name	Date	6 Month	1 Year	3 Year	5 Year	10 Year
Milford NZ Equities Wholesale Fund	30-09-17	13.59	13.74	18.69	20.61
Harbour Australasian Equity	30-09-17	13.32	15.93	15.59	17.76
Asteron Superplan 2000 Trans Tasman Fund	30-09-17	12.91	11.53	16.68	17.31	7.46
Harbour Australasian Equity Focus Fund	30-09-17	12.7	21.12	15.3
Asteron Superplan Trans Tasman Fund	30-09-17	12.56	10.79	15.93	16.57	6.74
Castle Point Ranger Fund	30-09-17	11.94	14.45	10.46
Pie Growth 2 Fund	30-09-17	11.63	5.39
Forte Equity Trust	30-09-17	11.23	31.03	11.94
OneAnswer KiwiSaver-Australasian Share	30-09-17	9.38	6.33	12.61	15.78	7.39
Mint Australia NZ Active Equity	30-09-17	9.01	9.7	14.66	18.07	10.32
Nikko AM Concentrated Equity	30-09-17	8.92	14.18	17.65	16.87	9.61
BT PS Australasian Diversified Share	30-09-17	8.86	7.78	13.25	16.52
Pie Australasian Emerging Companies	30-09-17	7.96	1.65	16
Pie Australasian Dividend	30-09-17	7.9	1.33	10.42	16.28
Milford Trans-Tasman	30-09-17	7.39	13.87	12.28	14.03
Booster KiwiSaver Socially Rsp Inv Gr	30-09-17	5.5	11.05	9.65	9.52
AMP ARS-NZ & Australian (Value)	30-09-17	5.09	0.38	10.21	14.68
OneAnswer SAC Equity Selection	30-09-17	4.6	1.03	7.69	12.21	5.51
AMP Prem PSS OnePath NZ Shares	30-09-17	4.59	0.99	7.8	12.67	6.45
AMP Prem PUT OnePath NZ Shares	30-09-17	4.44	0.72	7.68	12.65	6.32

This snapshot from https://www.morningstar.com.au/Tools/NewFundScreener ranked in 6mth performance for australasia equity funds based from nz.
quite a difference in some funds from 6mths to 1yr

[Fred114]

The chart shows that exceptional returns from the exposure to risk that Pie Funds adheres to is under question......

[Sideshow Bob]

Digression - One thing that does highlight is how average AMP is. While not the same funds, I was in their KiwiSaver for too long. While gave them the benefit of the doubt for a while, was pretty woeful in the end.

[stoploss]

PIE Funds have finally branched out into Kiwisaver under the Juno brand , official start date 1 August.
http://investmentnews.co.nz/

Anyone interested can go here for further info upon launch .

https://www.junokiwisaver.co.nz/

DISC: Invested in their funds , no other interest.

[bull....]

PIE Funds have finally branched out into Kiwisaver under the Juno brand , official start date 1 August.
http://investmentnews.co.nz/

Anyone interested can go here for further info upon launch .

https://www.junokiwisaver.co.nz/

DISC: Invested in their funds , no other interest.

branching out into everything these days.

fees are very much weighted to high fees for less money , low fees for lots of money at a quick glance also will the kiwisaver funds be concentrated funds? and similar to there other funds which spread the same stock over a few funds? small cap kiwisaver?

https://www.goodreturns.co.nz/articl...er-market.html