Harbour launches index funds after value strategy disappoints
Index tracking, lower fees, and an ESG bent to match client demand. Harbour Asset Management is rejigging a New Zealand equities fund to launch low-cost index tracking funds after being ‘disappointed’ in the performance of its value factor strategy over the last three years. From April this year, Harbour will make some big changes to its NZ Equity Advanced Beta Fund: fees will drop to 0.2% per annum (the total fee is currently 0.48%) and it will become a New Zealand index tracking fund renamed the Harbour NZ Index Shares Fund. Harbour will also launch an environmental, social and govern...
Source: nbr.co.nz