Carbon Fund reports strong five-year returns despite volatile quarter

The Carbon Fund's latest quarterly update, as of September 30, 2025, shows a total fund value of NZ$78,870,468 with 785 investors since its inception on November 8, 2018. Despite a -9.79% annual return for the past year, the fund has maintained an average annual return of 5.98% over the last five years after deductions for charges and tax.

The fund's asset allocation predominantly consists of commodities (carbon credits) at 99.81%, with the remaining 0.19% in cash and cash equivalents. The target investment mix is 98% in commodities and 2% in cash. Top investments include Carbon Credits - NZ Emissions Trading Scheme (57.29%), Carbon Fund (37.69%), and Carbon Credits - AU Emissions Trading Scheme (4.84%).

Investors are charged 1.00% in total fund charges, comprising a 1.00% basic management fee and 0.00% performance-based fees. As of October 29, 2025, there were 24,579,708 units on issue with a Net Tangible Asset (NTA) of 1.6149. Salt Funds Management Limited, managing about NZ$2 billion in funds, oversees the Carbon Fund, which aims to provide exposure to carbon credit price movements.