FAQs / Help 2017-12-06T02:53:21+00:00

FAQs and  Help

How do I switch between accounts? 2017-10-17T00:57:34+00:00

If you have more than one InvestNow account we can link them so that you can access them all from a single e-mail address/login.

Please take a look at this page, to see how it works and what you need to do if you would like to use this functionality.

How are Elevation Capital funds buys and sells processed? 2017-09-22T03:01:28+00:00

Elevation Capital Value Fund is priced once a month, on the last business day of the month – the “Valuation Day”.

If you buy or sell units in the fund on a day, before the Valuation Day of the current month, your order will be processed within 10 days of the Valuation Day in the month following.

For Buy orders, your cash will be sent to the application account for this fund and will remain there until the Valuation Day of the same month.  This cash will not be available to you whilst it is in the application account.

How are Smartshares ETFs buy and sell orders processed? 2017-11-07T05:49:55+00:00

Smartshares are listed securities on the NZX. Orders are placed through our broker, Craigs Investment Partners.

All Smartshares orders are aggregated by the Custodian and placed each business day between 12pm and 1pm – any orders loaded after this time will be processed the following business day between 12pm and 1pm.

Buy and sell requests are not matched – each is placed independently.

Minimum investment amount is $50, when part of a Regular Investment Plan, or $250 for one-off investments.

Buy Orders

Unlike other funds we offer, where buy orders are placed for a dollar value, Smartshares orders are placed in units.  Also, unlike the other funds we offer, Smartshares are not available in partial units.  Because of these two characteristics, buy orders for Smartshares are processed as follows:

  • We need to allow for a scenario where the unit price increases between the time when you load your order and when it is traded by our broker.  In such a situation, you would over spend.
  • The Custodian will instruct the broker to spend the amount you have requested less circa 2 times the unit price of the specific Smartshare.
  • Here is a simple example:
    • You place a buy order for $600 worth of US 500 Fund, with the current unit buy price being $6.00.
    • The Custodian will place a buy order for $600-$12 ($600 less 2 x $6)

Any residual funds from your purchase will appear as available cash in your InvestNow Transaction Account.

Sell Orders

Sell orders are placed in units and funds are credited to your InvestNow account upon settlement.

What do I need to do if my account, or anyone associated with it, is also a tax resident of a country other than NZ? 2017-07-07T02:49:20+00:00

In September 2013, in response to growing concerns about offshore tax evasion, G20 leaders announced an initiative to implement a new global Standard for Automatic Exchange of Financial Account Information in Tax Matters (in short, Automatic Exchange of Information, or AEOI).

AEOI impose these obligations on jurisdictions and financial institutions (for AEOI purposes, known as reporting financial institutions):

  • Collection – Reporting financial institutions must conduct due diligence of their account holders (including the controlling persons of certain account holders) to identify reportable accounts, and collect defined information for those reportable accounts.
  • Reporting – Each reporting financial institution must report that information to their local tax administration.
  • Exchange – Each tax administration must exchange that information with their jurisdiction’s tax treaty partners.

 

In order to meet our obligations under AEOI, InvestNow is required to collect and report certain information about the tax residence of our customers. If your tax residence is outside New Zealand, we may be legally obliged to pass on this information, and financial information about your accounts, to tax authorities in that jurisdiction.

For individual, we need to know the tax residence and the Taxpayer Identification Number (TIN) for the account holder (for children, this is the tax residence of the child rather than the parent/guardian(s) controlling the account).

For joint accounts, we need to know the tax residence and the Taxpayer Identification Number (TIN) for both account holders.

For trusts, estates or companies, we need to know the tax residence and the Taxpayer Identification Number (TIN) for all ‘Controlling Persons’. For a trust, this includes:

  • the settlor(s)
  • the trustee(s)
  • the protector(s), if any
  • the beneficiary(ies)
  • any other natural person(s) exercising ultimate effective control over the trust (including through a chain of control or ownership)

For a company, this includes:

  • the director(s)
  • any shareholder(s) with an ownership interest of 25% or more in the company

Please contact us on 0800 499 466 or contact@investnow.co.nz should you have any questions.

At the end of the tax year, if I have a PIE tax obligation, how is it paid? 2017-08-23T22:43:17+00:00

If you have any outstanding tax liability payable at the end of the tax year, we will pay this to the IRD on your behalf.
Our process will be as follows:
1. We will debit your InvestNow Transaction account for the amount of PIE tax payable. However, if you do not have sufficient funds available in your Transaction account at the time, we shall:

  1. Proportionately sell units in the PIE funds you have in your portfolio
  2. If you do not have enough units available in your PIE funds to cover the obligation, we will proportionately sell units in any non-PIE Managed Funds you hold on InvestNow
  3. Should you still not have sufficient units, we will contact you directly to ask you to deposit sufficient monies in to your Transaction account

Prior to the PIE tax year end, we will send you an e-mail with a provisional calculation of your tax obligation. We shall use this opportunity to remind you of how we will meet your PIE tax obligation. If, at the time, it appears that you have insufficient funds in your Transaction account, we shall advise you of the amount you will need to deposit into it to meet any obligation.

Please note that we rely on you electing the correct PIR when you open an account – if your InvestNow PIR needs to be changed or is not correct, you can contact us to have it updated.

For Smartshares ETFs, PIE tax is always paid at 28% as they are listed PIEs. If you invest in Smartshares and have a tax rate lower than 28%, the excess tax paid by a fund may be able to be used to reduce the tax payable on other income that you derive at the end of each income year by including the distributions from the fund(s) in your tax return. Please refer to Smartshares’ Other Material Information – Tax document, available from the Disclose register, for further details.

Where a rebate exists we will credit this to your Transaction account as part of our year end tax processes.

What is the difference between an Investor and a Member? 2017-01-16T20:45:12+00:00

An Investor is the entity (Individual, Joint, Trust or NZ Company) that has an account with InvestNow.  A member is an individual, or individuals, that have access to the Investor account.  Members can perform one of a number of roles and can have a number of permissions.

Do clearance periods apply to my InvestNow account? 2017-02-07T22:55:47+00:00

For deposits to your InvestNow Transaction account you can expect the funds to be available, for investing in Managed Funds, the following business day if you complete the payment from your nominated account before 3pm the prior business day.

For transfers of money from your InvestNow Transaction account to your nominated bank account, cleared funds should be in your account the next business day

How will tax on my Managed Funds be paid? 2017-08-23T03:19:01+00:00

At the time you sell any units in a PIE managed fund or at PIE tax year end (31st March) your PIE tax liability will be paid by InvestNow on your behalf and returned to the IRD.

For Australian-domiciled managed funds which are not PIEs, InvestNow does not pay tax on your behalf and you need to report income from these funds on your tax return. Your Tax Summary Report will contain a summary of the taxable income from these funds including both the Fair Dividend Rate (FDR) and Comparative Value (CV) calculations.

Your Tax Summary Report will reflect the details of all tax liability payments.  We will produce a Tax Summary Report at PIE tax year end no later than 31st May, which can be downloaded from your My Documents page.

How are my funds protected? 2017-03-15T21:24:22+00:00

InvestNow client funds are held in an independent custodial account which is run and operated by Adminis, who have been appointed to provide custody services to InvestNow. This ensures that there is complete separation of client assets from InvestNow as a business. The custodial account is also structured to ensure that all assets, including the bank accounts, are ring-fenced from the custodian’s business. The custodian is audited annually by PWC and client accounts are subject to daily reconciliation. 

InvestNow is a registered Financial Services Provider. InvestNow is a wholly owned subsidiary of Implemented Investment Solutions (IIS). IIS is also audited annually by PWC, which also covers InvestNow as a subsidiary. Past annual reports of IIS are available on the Companies Office website. 

What measures are in place to keep my account and my data secure? 2016-12-18T23:44:57+00:00

There are a number of features to the security of your InvestNow account:

  1. As customers you are expected to follow best practice security measures e.g. not sharing passwords.
  2. We utilise two-factor-authentication for logging in to your account. This means we will send you a unique Passcode as part of the login process. You can select to receive the Passcode via e-mail or mobile phone. And it will expire after 5 minutes if you do not use it, at which time you will need to request a new Passcode.
  3. All sensitive information is encrypted.
  4. The InvestNow infrastructure uses layers of firewalls, routers and intrusion prevention devices according to industry best practice.
  5. We will routinely conduct security assessment to ensure that any vulnerabilities are identified and addressed. This assessment will be carried out by a 3rd party that specialises in information security.
How does InvestNow make money? 2017-02-12T23:46:20+00:00

Investnow’s parent, Implemented Investment Solutions (IIS), receives fees from the funds that it is a manager of (just like the other fund managers on InvestNow).  Also, fund managers pay InvestNow to have their funds on the platform, reflecting that they want investors to be able to readily and easily access their funds via InvestNow.  This does not result in any additional fees to you as the investor, as you simply pay the management fees associated with the funds that you select.

Will I receive a tax report? 2017-03-13T01:25:57+00:00

InvestNow produces a consolidated tax report showing:

  • Foreign Investment Fund (FIF) Income, with both Fair Dividend Rate (FDR) and CV calculations detailed.
  • PIE tax information (consolidated for all the PIEs you are holding) showing PIE tax assessed, tax credits used and PIE tax paid. For a zero PIR, this will include PIE taxable income and attributed tax credits.
  • Any other sources of taxable income, deductible expenses or tax withheld on income payments will also be included.

The InvestNow consolidated tax report is a tax summary in order to assist the investor or their accountant in the preparation of their tax return. Clients can generate and download this report at any time from InvestNow.

What is Two Factor Authentication? 2016-12-18T23:44:01+00:00

Two Factor Authentication adds an extra layer of security when identifying a user by utilising a combination of two different components. e.g. your Password and a Passcode (a unique code we send you, via e-mail or text, each time you login).

Users must pass Two Factor Authentication before they will be allowed to login to their account.

What is a Passcode? 2016-12-18T23:43:30+00:00

Each time you login, we shall send you a unique one-time-use code – this is known as the Passcode. You can nominate to have the Passcode sent to you as an e-mail or as a text message.

It is the additional layer of security we have applied to the login process.

To login to your InvestNow account you need the following three items:

  1. The e-mail address you used when you registered with InvestNow and opened an account
  2. The password you selected for logging in
  3. The Passcode
How long does the login verification/security code last for? 2017-01-09T03:13:47+00:00

You have five minutes to enter the security code, when logging in.  After that you will have to request a new code.  You can do this by either logging in again or click the link to request a new code.

What does the data on the Invest page represent? 2016-12-18T23:03:47+00:00

The Invest page contains the following information for each fund:

  • Name of the fund
  • Fees – the Total Fund charges (including GST) which is made up of:
    Total Management & Administration charges, including Manager’s basic fee and other management and administration charge
    The data is sourced from The Disclose Register.
  • 1 Year & 5 Year performance data. This data is net of fees and before tax.
  • Fund fact sheets, available for download
  • Fund Product Disclosure Statement (PDS), available for download
What do I do when the document(s) I have used to complete the AML verification, expire? 2016-12-18T23:02:12+00:00

We will be in touch with you prior to the expiry date of the document(s) you have used for the AML verification process, and will advise you to repeat the AML verification process with your new documents.

You will hear from us approximately one month prior to your original documents expiring, and will have one month, after the expiry date of the original documents, in which to complete the AML verification. If you do not complete this within the month, your account may be suspended until the task is completed successfully.

What are the different member types for InvestNow? 2017-01-09T03:12:55+00:00

There are four different member types for InvestNow:

  • Owner
  • Accountant
  • Auditor
  • Viewer

Each member type can have either Authoriser permissions (has full delegated authority and access to the account and all functionality) or view-only where they are unable to process any transactions.

What are the different types of Managed Funds? 2017-09-22T03:06:45+00:00

At the time of writing we offer funds from AMP Capital, ANZ Investments, Devon Funds Management, Elevation Capital, Fisher Funds, Harbour Asset Management, Hunter Investment Management, Mint Asset Management, Morphic Asset Management, Nikko Asset Management, Pathfinder Asset Management, Russell Investments, Salt Asset Management, Smartshares and Vanguard.

The range of fund managers and funds offered will change over time.

The list of funds we currently offer can be found here

Which Managed Funds pay distributions and how frequently do they pay them? 2017-09-22T03:05:58+00:00

You have the option of either having distributions paid as cash into your Transaction Account or reinvested to purchase additional units in the relevant fund.

This preference is applied universally i.e. it applies to all Funds in your InvestNow portfolio/account.

AMP Capital – NZ Fixed Interest Fund

The distributions will be calculated on or about 31 March and 30 September in each year. The distributions will be made as at the close of business on the last business day prior to the day the distribution is calculated.

AMP Capital – Cash Advantage Fund

Due to the nature of the fund, it is not intended that distributions will be paid. That is, all returns will be by way of increase or decrease in the unit price. However, AMP Capital reserve the right to pay distributions, and may vary the distribution policy from time to time.

Devon Funds Management

Devon TransTasman Fund intend to pay distributions semi-annually.

Elevation Capital Value Fund

Distributions may be paid annually.

Fisher Funds – Fisher Income Fund

The Income Fund makes distributions of net income currently on the 15th of each month (or the next business day if the 15th is not a business day). You can choose to receive those distributions in cash, to have them reinvested in more units in the fund. Your distribution will be in proportion to the number of units you hold in the fund, and the unit price of the fund will fall by the amount of the distribution each month. The other funds in the Fisher Funds Managed Funds range do not currently make distributions.

Harbour Asset Management

The NZ Core Fixed Interest Fund, NZ Corporate Bond Fund, Income Fund and Australasian Equity Income Fund intend to pay distributions quarterly for the distribution periods ending March, June, September and December. The other Harbour funds do not pay distributions.

Mint Asset Management

Currently Mint do not make distributions from either the Active Equity Trust or the Real Estate Investment Trust.

For the Diversified Income Fund, distributions are made quarterly following the last Business Day of March,
 June, September and December. Distributions are only made from the net income generated by the Fund and consequently the amount distributed can fluctuate.

Nikko Asset Management

The Concentrated Equity Fund Fund and Core Equity Fund may pay distributions six-monthly for the distribution periods ending March and September.

The Income Fund, NZ Corporate Bond Fund and NZ Cash Fund may pay distributions quarterly for the distribution periods ending March, June, September and December.

Morphic Asset Management

The Morphic Global Opportunities Fund expects to make distributions semi-annually, however the fund may make interim distributions at any time. The net income of the fund available for distribution to investors will be determined as at 30 June and 31 December each year. Distributions are generally expected to be paid within 20 Business Days after 30 June and 31 December

Russell Investments – AUT Funds

Any income, excluding unrealised gains, of the Fund is usually distributed quarterly.

Russell Investments

Russell Investments NZ Fixed Interest Fund, Global Fixed Interest Fund, NZ Shares Fund, Global Shares Fund and the Hedged Global Shares Fund intend to make six monthly distributions.

The distributions are expected to be made following the last valuation days in March and September.

Salt Asset Management – NZ Dividend Appreciation Fund and Enhanced Property Fund

Both intend to pay semi-annual distributions paid out of 72% of the net income (as determined by Salt) accrued for the preceding six month period. For this purpose, ‘net income’ generally means all dividend income received during the period, although we can change this at our discretion.

Distributions will be calculated within seven business days of the last day of each distribution on period (which end on 30 April and 31 October, respectively). Payments are intended to be made within five business days of the date on which the distribution is calculated.

Smartshares

All of the Smartshares ETFs we offer pay six-monthly distributions at June and December

Vanguard

Distributable income and net realised capital gains (if any) will be determined quarterly, as at 31 March, 30 June, 30 September and 31 December each year

 

Can I receive a Tax Refund on a redemption? 2016-12-18T22:33:20+00:00

Yes, you will receive this money once we have received it from the IRD. It will be paid to your InvestNow Transaction Account.

When are my buys and sells completed? 2017-12-04T20:09:20+00:00

The cut-off time for the receipt of buy or sell orders and cleared funds for all Funds is currently 12pm NZ time.

If buy or sell orders are accepted before the cut-off time for a Fund on a valuation day, units will normally be issued at the Issue Price determined at the end of that day. If buy or sell orders are accepted at or after the cut-off time on a valuation day, units will normally be issued at the end of the following valuation day.

Your buy and sell orders will usually be processed within the following timeframes (working days) for each of the Fund Managers (note that the first working day is the working day after you have placed your buy or sell order, with that order having been placed and authorised before 12pm):

  • AMP Capital
    • Cash Advantage Fund – same day
    • The following have a 1 day settlement timeframe for buys & sells:
      • NZ Cash Fund
      • NZ Fixed Interest Fund
      • NZ Property Fund
      • Responsible Investment Leaders NZ Shares Fund
    • The following have a 2 day settlement timeframe for buys & sells:
      • Core Global Shares Fund
      • Core Hedged Global Shares Fund
      • Emerging Markets Shares Fund
      • Global Listed Infrastructure Fund
      • Global Multi Asset Fund
      • Global Property Securities Fund
      • Global Shares Fund
      • Hedged Global Fixed Interest Fund
      • Income Generator Fund
      • Responsible Investment Leaders Balanced Fund
      • Responsible Investment Leaders Conservative Fund
      • Responsible Investment Leaders Global Shares Fund
      • Responsible Investment Leaders Growth Fund
  • Devon Funds Management – 2 Days
  • Elevation Capital – please see FAQ here for more details.
  • Fisher Funds – 3 Days
  • Harbour Asset Management (excluding T. Rowe Price) – 2 Days
  • Hunter Investments – 3 Days
  • Mint Asset Management – 3 Days
  • Morphic Asset Management – 5 Days
  • Pathfinder Asset Management – 3 Days
  • Russell Investments – 3 Days
  • Salt Asset Management – 3 Days
  • Smartshares – 2 days for buy orders and 3 days for sell orders
  • T. Rowe Price Global Growth Fund – 3 Days
  • Vanguard – 2 days for buy orders and 4 days for sell orders

Please note the Fund prices shown may differ from your buy or sell order unit price.

Public holidays will cause small delays and there can potentially be other delays due to additional tasks being carried out by the fund managers – we would not expect these delays to be any longer than a few business days.

Can I switch my investment from one fund into another? 2016-12-18T22:24:56+00:00

There is no functionality offered on InvestNow to facilitate this. If you want to switch from one fund to another, you have to sell the first one, wait until the sale proceeds are in your Transaction Account and then buy the second fund.

Do any minimums apply for when I want to sell any Managed Funds? 2016-12-18T22:24:27+00:00

Yes – if you chose a dollar value for the sale, the sale can be no lesser than the indicative unit price for one unit. If you chose to sell a number of units, it has to be for at least one unit in the fund.

What are cleared funds? 2016-12-18T22:22:59+00:00

Cleared funds are monies in your Transaction Account that have been desposited from your nominated account and are available for fund purchases.

Can I have more than one account on InvestNow? 2016-12-18T22:16:17+00:00

Yes you can.

You can have more than one account and you can be linked with more than one account – for example:

Mike wants to operate a Family Trust account plus a Joint account for him and his wife Julie. Mike can be linked to both accounts and can use the same e-mail address for both, although InvestNow will have to help with the set up when one e-mail address is linked to more than one account.

Where does the fund performance data come from? 2017-05-09T02:49:08+00:00

The data is sourced from The Disclose Register. This is a register for offers of financial products and managed investment schemes under the Financial Markets Conduct Act 2013.

This data is updated within the month following the corresponding updates on The Disclose Register (currently quaterly January, March, July & December).

The Disclose Register is provided by the New Zealand Companies Office and can be found at https://www.companiesoffice.govt.nz/disclose

Why do some funds have no performance data? 2016-12-18T22:14:42+00:00

“Where a fund has not been active for at least 1 year, there is no performance data available.

The data is sourced from The Disclose Register. This is a register for offers of financial products and managed investment schemes under the Financial Markets Conduct Act 2013.”

What fund performance data is available? 2016-12-18T22:13:56+00:00

On the Invest page we provide 1 Year & 5 Year performance data. This data is net of fees and before tax.

The data is sourced from The Disclose Register. This is a register for offers of financial products and managed investment schemes under the Financial Markets Conduct Act 2013.

This data is updated within the month following the corresponding updates on The Disclose Register (currently quaterly January, March, July & December).

The Disclose Register is provided by the New Zealand Companies Office and can be found at https://www.companiesoffice.govt.nz/disclose.

Can I perform an off-market transfer? 2017-08-16T05:16:59+00:00

Yes you can.

Please request the off-market transfer request here.  We will then prepare an off-market transfer form and email it to you (using the email address already linked to your InvestNow account) for you to sign and return to us. Please note that the original signed copy of the form will be required.

How do I change the e-mail address I use for InvestNow? 2016-12-18T22:11:06+00:00

That’s something we will have to do for you.

Please follow these simple steps:

  1. Go to the Home Page (www.InvestNow.co.nz) and select the link for Resources in the main navigation
  2. Click Resources and then click Forms
  3. Select and download the form titled “Change of Details”
  4. Complete the relevant sections
  5. Sign, scan and e-mail the completed form to contact@investnow.co.nz

We will confirm the request has been action by return e-mail.

How do I update the preferences in my Profile, if the fields are locked-down? 2017-01-09T03:04:27+00:00

For security reasons there are certain fields and preferences that, after having initially been created, we lock down. These can be changed however we will have to action that for you.

To do this, please follow these simple steps:

  1. Go to the Home Page (www.InvestNow.co.nz) and select the link for Resources in the main navigation
  2. Click Resources and then click Forms
  3. Select and download the form titled “Change of Details”
  4. Complete the relevant sections
  5. Sign, scan and e-mail the completed form to contact@investnow.co.nz

We will confirm the request has been action by return e-mail.

Can I use the same e-mail address on more than one InvestNow account? 2017-01-09T03:03:58+00:00

You can link one person to more than one account, but each account must be set up with an unique e-mail address.

That’s something we will have to do for you.

Please follow these simple steps:

  1. Go to the Home Page (www.InvestNow.co.nz) and select the link for Resources in the main navigation
  2. Click Resources and then click Forms
  3. Select and download the form titled “Change of Details”
  4. Complete the relevant sections
  5. Sign, scan and e-mail the completed form to contact@investnow.co.nz

We will confirm the request has been action by return e-mail.

How do I get in touch with InvestNow? 2016-12-18T21:57:41+00:00

You can call or e-mail us.
Our contact center is available on 0800 499 466 Mon-Fri 8:00am to 5:00pm, except national public holidays.
You can e-mail us on contact@investnow.co.nz. We shall respond to your e-mail within 24 hours, during normal working hours.

What happens if InvestNow decides to stop supporting an investment I hold through the service? 2016-12-18T23:42:08+00:00

It is important to note that the investments that can be held through the service are subject to change. If you hold an investment and the InvestNow decides to stop supporting it, we will notify you. We may then determine that the investment will need to be sold or transferred into your own name.

Are my investments with InvestNow guaranteed? 2016-12-10T18:30:28+00:00

Investments that are available through InvestNow are not guaranteed by InvestNow, any of the underlying investment managers, or any other person(s).

What do I do if I suspect that my InvestNow account has been compromised? 2017-01-09T03:13:25+00:00

Please contact us immediately on 0800 499 466 or e-mail us at contact@investnow.co.nz.

Our contact center is available on 0800 499 466 Mon-Fri 8:00am to 5:00pm, except national public holidays.

What security steps should I take to protect my computer? 2016-12-18T23:40:14+00:00

Online security best practices today are:

  • Use updated Anti-Virus Software
  • Activate a Pop-Up Window Blocker, which may also include adjusting the settings to allow pop-ups from trusted websites and sources
  • Regularly scan your computer for Spyware
  • Only download programs or click links from known and trusted sources.
What browsers does InvestNow work with? 2016-12-10T18:28:15+00:00

InvestNow is designed to work with the major internet browsers:

Could someone access my InvestNow account? 2016-12-18T23:39:03+00:00

Someone would need the following to login in to your InvestNow account:

  • your login name, which is your e-mail address
  • your password
  • access to your e-mail account as we always send you a verification Passcode each time you log in, as an additional level of security (you nominate if the Passcode to either as a text message to your mobile phone or as an e-mail)
On the Performance page, what are the periods of the data? 2016-12-18T22:59:33+00:00

The first column contains the Return data from the prior complete month. For example between 1 January and 31 January, the Month return data will be from December. On 1st February the return data will be from January.

The 12 Months data, starting with the prior complete month, is a rolling twelve months of Returns data.

The Overall Returns data is from the date that the first Managed Funds purchased were attributed to your account, right up to the end of the prior complete month.

Which Managed Fund is right for me? 2016-12-18T22:58:12+00:00

Prior to investing in any Fund you should read the disclosure material and research the Fund to ensure that it meets your specific investment needs.

It is good practice to get independent advice from an Authorised Financial Adviser (AFA) before making any investment. Note that the team at InvestNow Saving and Investment Service are unable to provide you with financial advice.

Websites such as sorted.org.nz are also a useful resource. Visit their “Investing & savings guide” for helpful information.

Where can I find the available balance of my InvestNow account? 2016-12-18T22:56:25+00:00

Your account balance is the value of your holdings. You can find these on the Holdings page once logged in to your account.

I have forgotten my Account details, where can I find this? 2016-12-18T22:56:06+00:00

All you need is your e-mail address. Visit www.investnow.co.nz and click “Login”. If you can not remember your password, click the “I forgot my password” link and we will send you instructions to rest your password.

I have changed my name, how do I change the name on my InvestNow account? 2016-12-18T22:55:41+00:00

To change your Investor account name follow these steps once logged in to your account:

  • Click on your profile icon
  • Select “Edit” for “Investor Details”
  • Change the name under the heading “Investor Name”

Click “Save” at the bottom of the page.

Then please send (scan and e-mail) us a copy of evidence of your change in name. We accept the following documents:

  • Marriage certificate
  • Deed poll
How often will I receive statements for my InvestNow account? 2016-12-18T22:54:46+00:00

InvestNow is an online experience so we will not send you any statements in the mail.

When we prepare statements for you, for example at the end of the tax period, we shall upload these into your “My Documents” page. Once there you can view any documents by clicking the download button.

If you wish to run any reports yourself, you action this from the My Documents page – just follow these steps:

  1. Click “My Document”
  2. Click “Add reports to my documents”
  3. Select the type of report, the period and the end date for the report
  4. Click “Create” and the report will be added to your “Portfolio reports” in the My documents page.
  5. Click the download link to read and/or print the report
What is the difference between and Investor and a Client? 2016-12-18T22:54:03+00:00

An Investor is the entity (Individual, Joint, Trust or NZ Company) that has an account with InvestNow. A client is an individual, or individuals, that have access to the Investor account. Clients can perform one of a number of roles (see Roles FAQ) and can have a number of permissions (see Client Permissions FAQ).

How do I change my contact details? 2016-12-18T22:53:30+00:00

To change your contact details follow these steps once logged in to your account.

Contact details for an Account:

  • Click on your profile icon
  • Select “Edit” for “Investor Details”
  • Change the contact details

Click “Save” at the bottom of the page

Contact details for a Client:

  • Click on your profile icon
  • Select “Edit” for “My Details”
  • Change the contact details

Click “Save” at the bottom of the page.

Can I change my RWT (Resident Withholding Tax) rate? 2016-12-18T22:52:56+00:00

For security reasons there are certain fields and preferences that, after having initially been created, we lock down. These can be changed howeever we will have to action that for you.

To do this, please follow these simple steps:

  1. Go to the Home Page (www.InvestNow.co.nz) and select the link for Resources in the main navigation
  2. Click Resources and then click Forms
  3. Select and download the form titled “Change of Details”
  4. Complete the relevant sections
  5. Sign, scan and e-mail the completed form to contact@investnow.co.nz

We will confirm the request has been action by return e-mail.

What if I don’t supply an IRD number or RWT rate? 2016-12-18T22:52:00+00:00

If we do not have an IRD number your account will be taxed at the maximum “non-declaration” rate of 33%.

What are the rates of Companies Tax? 2016-12-18T22:51:30+00:00

You can find out more on the IRD website.

The current company tax rates are:

  • 28% for income years 2012 and later
  • 30% for income years 2009 to 2011
  • 33% for income years 2008 and older
What are the rates of RWT? 2016-12-18T22:50:19+00:00

You can find out more on the IRD website.

The current rates of RWT are:

  • 0% (in this case a current RWT exemption certificate must be provided)
  • 10.5%
  • 17.5%
  • 30%
  • 33%
What is Resident Withholding Tax (RWT)? 2016-12-18T22:48:44+00:00

You can find out more on the IRD website.

Resident Withholding Tax (RWT) is a tax deducted from the gross amount of interest paid to you. It is deducted at the time when the interest is paid to your InvestNow cash account.

When you open an InvestNow account, you will be asked to select your RWT rate and IRD number.

If we do not have an IRD number your account will be taxed at the maximum “non-declaration” rate of 33%.

How do I see my InvestNow transactions? 2016-12-18T22:47:16+00:00

You can see the full list of your transactions on the “Activity” page once you have logged on to your InvestNow account. You can view or print the transactions.

Can I cancel a transfer of money into or out of my InvestNow cash account? 2016-12-18T22:46:50+00:00

If you want to cancel your Deposit or Withdrawal instruction, you can select the “Cancel” link beside your Depost or Withdrawal instruction on the Funding page.

You can cancel a Deposit or Withdrawal instruction up until 12pm of the business day in which you placed the order. Where you have placed an order on a non-business day, you can cancel the order up until 12pm of the next business day.

How do I change my nominated account? 2016-12-18T22:46:20+00:00

To change your nominated account follow these steps once logged in to your account:

  • Click on your profile icon
  • Select “Edit” for “Bank accounts”
  • Select “Edit” alongside the current bank account you wish to change (note – you can add an additional bank account by selecting the “+” button and following the steps).
  • Change the relevant details for the new bank account
  • Click “Save” at the bottom of the page.

Before you can make a withdrawal to this new nominated account we need to receive a copy of your bank statement or deposit slip. Please scan and e-mail a copy to contact@investnow.co.nz

Can I make cheque deposits into my InvestNow account? 2016-12-18T22:45:17+00:00

We only allow online deposits into your InvestNow Transaction Account.

How do I make regular deposits into my InvestNow cash account? 2017-09-26T04:36:30+00:00

You can establish a regular deposit to your InvestNow Transaction Account with an automatic payment from your nominated bank account.

If you have already made a deposit to your InvestNow Transaction Account, you use the same bank account and reference details when establishing your automatic payment.  The reference is unique to you and does not change.

If you have yet to make a deposit into your InvestNow account, login and go to the Funding page and follow the instructions for a deposit. Make sure you record the bank account and reference details as you will need these for the automatic payment you are going to establish.

Can I have more than one InvestNow account? 2016-12-18T22:43:56+00:00

You can operate multiple accounts, and multiple types of accounts, however the e-mail address, which is also you login name, is your unique identifier and is unique to each account.

How long before I can access my InvestNow account? 2016-12-10T18:12:02+00:00

You can access your InvestNow account at any stage after having started the “Join Now” process.  You are able to invest in managed funds once your account is active and you have money in your InvestNow Transaction Account.

How do I obtain a certified copy of an identification document? 2016-12-18T22:42:35+00:00

We are required by law to verify your identity as part of the account opening process and ongoing due diligence (Anti-Money Laundering and Countering Financing of Terrorism Act 2009).

Where we ask you to supply certified copies of your identification documentation, you can ask “Trusted Reference” persons from the following occupations to complete this verification.

  • Justice of the Peace
  • Lawyer
  • Registered medical doctor
  • Registered teacher
  • Registered chartered accountant
  • Kaumatua
  • Minister of religion
  • Member of parliament
  • Notary public
  • Employee of the police (who holds the office of constable)
  • NZ Honorary Consul

To certify the documents, the certifier is required to:

  • Confirm the identification documents are a true copy of the original
  • Sign the certified copy and include their name, occupation and date.
  • Full name and occupation of the Trusted Reference
When I sell managed funds, how do I get the money? 2016-12-18T22:40:48+00:00

When you sell managed funds the proceeds of the sale are deposited into your InvestNow Transaction Account. Once there, you can then withdraw those funds by transferring them to your nominated account.

How do I change my PIR? 2016-12-18T22:40:27+00:00

For security reasons there are certain fields and preferences that, after having initially been created, we lock down. These can be changed howeever we will have to action that for you.

To do this, please follow these simple steps:

  • Go to the Home Page (www.InvestNow.co.nz) and select the link for Resources in the main navigation
  • Click Resources and then click Forms
  • Select and download the form titled “Change of Details”
  • Complete the relevant sections
  • Sign, scan and e-mail the completed form to contact@investnow.co.nz
  • We will confirm the request has been action by return e-mail.
How do I determine my correct PIR? 2016-12-18T22:39:38+00:00

You can find out more on the IRD website.

Currently, for resident New Zealand individuals, your PIR can be determined as follows:

Taxable income of $14,000 or less:

If, in either of the previous two income years your taxable income was $14,000 or less, and when combined with your PIE income or loss was $48,000 or less in the income year, then your PIR is 10.5%

If, in either of the previous two income years your taxable income was $14,000 or less, and when combined with your PIE income or loss was $48,001 to $70,000 in the income year, and you don’t already qualify for 10.5% then your PIR is 17.5%

If, in either of the previous two income years your taxable income was $14,000 or less, and when combined with your PIE income or loss was $70,000 or more in both of the previous two income years, then your PIR is 28%

Taxable income of $14,001 to $48,000:

If in either of the previous two income years, your taxable income plus your PIE income or loss was:

  • $70,000 or less in the income year, your PIR is 17.5%, or
  • $70,001 or more in both of the previous two income years, your PIR is 28%

Taxable income was more than $48,000:

If your taxable income was more than $48,000 in both of the previous two income years, your PIR is 28%.

What is a Prescribed Investor Rate (PIR)? 2016-12-18T22:37:58+00:00

An investor’s PIR is the tax rate that will be applied to any income earned from a PIE fund. A PIR is similar to an individual’s Resident Withholding Tax rate, except that the top PIR is 28% whereas the top RWT rate is 33%. All investors are able to select their own PIR, and this is the rate at which their taxable income in a PIE will be taxed.

InvestNow is obliged to use the default PIR of 28% for individuals, unless one of the lower rates of 10.5% or 17.5% has been selected.

What is the Portfolio Investment Entity (PIE) regime? 2016-12-18T22:37:28+00:00

The Portfolio Investment Entity (PIE) regime is a regime for the taxation of PIE managed funds. The PIE’s income is attributed to its investors, based on their share of the PIE, and is taxed at each investor’s Prescribed Investor Rate (PIR). The PIE regime creates tax advantages for some investors, mainly because the maximum PIR is 28%. The PIE regime therefore provides tax benefits to investors who are on a 30% or 33% marginal tax rate and invest in a PIE.

What should I know about tax on my managed funds? 2016-12-18T22:34:02+00:00

We recommend that you consult your own tax adviser in relation to your managed funds

How is any income or distributions from funds paid to me? 2016-12-10T18:06:32+00:00

If you selected to have any income or distributions paid to you, and not reinvested in the same fund, any monies will be credited to your InvestNow Transaction Account.

If you had selected to have any income or distributions reinvested in the specific fund, this will happen automatically.

Are orders always processed? 2016-12-18T22:29:13+00:00

Your buy and sell orders are carried out according to the time frames specified in the “When are my buys and sells completed?”

Public holidays will cause small delays and there can potentially be other delays due to additional tasks being carried out by the fund managers – we would not expect these delays to be any longer than a few business days.

Can I cancel an order? 2016-12-18T22:28:38+00:00

Yes you can cancel a Buy or Sell order up until 12pm of the business day in which you placed the order. Where you have placed an order on a non-business day, you can cancel the order up until 12pm of the next business day.

Can I amend an order? 2016-12-18T22:28:13+00:00

No you can not amend an order. If the order is still in a pending status then you can cancel it. You can then create a new Buy or Sell order.

How do I know if my Invest or Sell order has been executed? 2017-01-09T03:07:20+00:00

You will receive a notification in a number of ways:

  1. The order will appear in the list of Completed orders on the Orders page
  2. The addition (invest) or reduction (sell) of units will appear in your Holdings.
What costs are charged by InvestNow? 2017-04-11T04:30:32+00:00

InvestNow does not charge any transaction or admin fees for your InvestNow account.

InvestNow receives a fee from  some of the fund managers for making their funds available on the InvestNow platform, reflecting that they want investors to be able to readily and easily access their funds via InvestNow.  This does not result in any additional fees to you as the investor, as you simply pay the management fees associated with the funds that you select.

InvestNow also receives the interest on any money held within the Transaction Account, which helps to pay costs associated with offering and operating InvestNow. Transaction Accounts are intended to be used to fund investments into managed funds, or to facilitate withdrawals to your bank account following a fund redemption, distribution or any other payment. We will proactively alert clients to invest or withdraw cash if they have a positive cash balance.

Do I need any specific investment knowledge? 2016-12-18T22:25:39+00:00

InvestNow does not provide financial advice.

Prior to investing in any Fund you should read the disclosure material and research the managed fund to ensure that it meets your specific investment needs.

We believe it is good practice to get independent financial advice, and recommend that you get this. A list of Authorised Financial Advisers (AFAs) is available on the FMA’s website: www.fma.govt.nz

Websites such as sorted.org.nz are also a useful resource. Visit their “Investing & savings guide” for helpful information.

Do I need to invest a minimum initial amount? 2017-10-03T04:09:08+00:00

There is no minimum amount for deposits into your InvestNow Transaction Account.

Minimum investment amount for Managed Funds purchases is $50, when part of a Regular Investment Plan, or $250 for one-off investments

How do I sell Managed Funds? 2016-12-18T22:23:35+00:00

Here are the steps to sell managed funds:

  • Go to the “Sell” page
  • Identify the fund(s) you wish to sell and click the green “Sell” button
  • You can choose to sell:
    1. a set dollar amount or
    2. a specific number of units for a managed fund you hold or
    3. all the units you hold in a managed fund
  • Enter the dollar amount or number of units
  • Click the “Sell” button

If you want to cancel your Sell order, you can select the “Cancel” link beside your Sell order on the Sell page. Or you can go to the Orders page and also click cancel alongside the Sell order in the Open orders list.

Note that you can cancel a Sell order up until 12pm of the current business day. Where you have placed an order on a non-business day, you can cancel the order up until 12pm of the next business day.

How do I buy managed funds? 2016-12-18T22:22:09+00:00

To buy managed funds you need to have cleared funds in your InvestNow Transaction Account – you deposit money in your InvestNow Transaction Account from your nominated bank account.

You use these funds to pay for the managed funds you purchase – please note that the minimum amount for any managed funds purchase is $250.
Here are the steps to buy managed funds:

  1. Go to the “Invest” page
  2. Identify the fund(s) you wish to buy , click the fund and then click the green “Invest now” button
  3. Enter the dollar amount you wish to invest (note – you need to have at least this amount of available cash in your Transaction Account)
  4. Click the Download link to read the Product Disclosure document
  5. Read the Disclosure document
  6. Click the check box to show that you have read, understood and accepted the latest Investment Statement or Procuct Disclosure document
  7. Enter the dollar amount or number of units
  8. Click the “Invest” button

If you want to cancel your Buy order, you can select the “Cancel” link beside your Buy order on the Buy page. Or you can go to the Orders page and also click cancel alongside the Buy order in the Open orders list.

Note that you can cancel a Buy order up until 12pm of the current business day. Where you have placed an order on a non-business day, you can cancel the order up until 12pm of the next business day.”

Can I create a direct debit from my Nominated Account to my InvestNow account from within InvestNow? 2016-12-18T22:20:58+00:00

Not currently – it’s on our list of enhancements for the service. We shall let you know once it has been developed.

In the meantime you have to transfer money into your InvestNow Transaction Account by online bill payment or direct credit from your Nominated bank account.

How much interest does my InvestNow cash account earn? 2017-05-03T00:16:44+00:00

Cash balances in InvestNow Transaction Accounts do not accrue interest. InvestNow receives the interest on any money held within the Transaction Account, which helps to pay costs associated with offering and operating InvestNow, including bank fees (for example, a $0.15 fee for each and every deposit by a customer, and a $30 Telegraphic Transfer fee for each purchase of units in managed funds based in Australia) which are not passed on to our customers.

The interest that InvestNow receives is the Official Cash Rate (OCR) rate less 0.25%. 

Here are some examples of the calculations for any interest that could be received by InvestNow:
  • A customer with an average daily cash balance of $2,000, assuming an OCR of 1.75%, the interest over a year would be approximately $30.21, before tax. 
  • A customer with an average daily cash balance of $5,000, assuming an OCR of 1.75%, the interest over a year would be approximately $75.52, before tax. 
  • A customer with an average daily cash balance of $10,000, assuming an OCR of 1.75%, the interest over a year would be approximately $151.04, before tax. 
Transaction Accounts are intended to be used to fund investments into managed funds, or to facilitate withdrawals to your bank account following a fund redemption, distribution or any other payment. We will proactively alert clients to invest or withdraw cash if they have a positive cash balance.
What is a nominated account? 2016-12-18T22:19:53+00:00

When you open your InvestNow account you are asked to provide the details of a nominated bank account (nominated account). You deposit money into your InvestNow Transaction account from your nominated bank account and when you withdraw money from InvestNow it is transferred to your nominated bank account.

We do not accept cheque deposits.

How do I pay for my Managed Funds? 2017-10-03T04:10:53+00:00

InvestNow provides each customer with a Transaction account. You transfer money from your nominated bank account, into your InvestNow Transaction account and then use this money, once cleared, to pay for managed funds.

Here are the steps to deposit money into your InvestNow Transaction Account:

  • Log on to your InvestNow account
  • Select the “Funding Page”
  • Click the “Deposit funds” link
  • Enter the amount you want to deposit.  Note that the minimum investment amount for Managed Funds purchases is $50, when part of a Regular Investment Plan, or $250 for one-off investments.
  • A pop up screen will be displayed which shows you the Bank Account number and reference to include when making the transfer from your Nominated Account

You can deposit money in to your InvestNow Transaction account via online bill payment or direct credit. Please use the following details when setting up the payment from your Nominated bank account:

  • Account Name:  InvestNow
  • Account Number:  02-1269-0042152-000
  • Reference:  Reference provided by InvestNow
What is the Transaction Account? 2017-01-09T03:05:37+00:00

Each InvestNow customer has a Transaction Account – it’s just like a bank account for money coming in and out of your InvestNow account.

Currently no interest is paid to you on your balance within the Transaction Account. We receive the interest on any money held within the Transaction Account.  This interest is used to pay Costs associated with offering and operating InvestNow

You transfer money, from your nominated bank account, into your InvestNow Transaction Account to purchase Managed Funds.  And when you sell Managed Funds, the sale proceeds are credited to your InvestNow Transaction Account – after which you can buy some more Managed Funds or transfer the money to your nominated bank account.

What are the fees and costs? 2017-01-09T03:05:03+00:00

InvestNow does not charge any transaction or admin fees.

The investment managers on InvestNow will have different management fees and in-fund costs.  You should read the relevant disclosure material for each specific fund to ascertain what the management fees, in-fund costs, buy and sell spreads (also commonly called entry and exit costs), and other costs and expenses are.

On the Invest page we display fees for each fund.  These fees are the Total Fund charges (including GST) which is made up of:

  • Total Management & Administration charges, including Manager’s basic fee and other management and administration charge

The data is sourced from The Disclose Register.

When does my InvestNow account become active? 2016-12-18T22:12:23+00:00

Once you have completed the online account opening process, including the identity and bank account verification, your account becomes Active.

You can now transfer money into your InvestNow Transaction Account and begin investing in managed funds.

Can I verify my identity offline? 2017-12-06T00:37:17+00:00

The identities of individuals can be verified either offline or online.  For offline verification you will need to supply the following documents as part of the account opening process:

  • A certified copy of your drivers’ license, passport, or birth certificate
  • Proof of address e.g. utility bill or a bank statement

The identities of Companies and Trusts require additional documents being supplied to InvestNow:

  • Companies
    • Certificate of Incorporation
  • Trusts
    • Trust Deed including any amendments
    • Proof of address
    • Bank deposit slip or bank statement
    • We may also request evidence of the source of wealth for the trust
How do I join InvestNow? 2016-12-18T22:03:32+00:00

InvestNow is an online-only service. You open your account at www.investnow.co.nz – follow the “Join Now” instructions.

InvestNow offers the following account types, to NZ residents only:

  • Individual
  • Joint
  • Trust
  • NZ Company

To complete the joining process you will need to have your identifty verified. You will need to have the required documents available when you create your account for the indentity verification.

Can I verify my identity online? 2017-12-06T00:39:35+00:00

The identities of individuals with current New Zealand passports or drivers’ licenses can be automatically verified online using the Cloudcheck service offered by Verifi Identity Services.

The following information is required:

  • Your full name, as it appears on your identity document
  • Your address
  • Your date of birth
  • Details of your identity document:
    • the passport number and expiry date or,
    • the drivers’ license number and version number

Please note that your passport or drivers’ license must be current i.e. not expired or cancelled. A passport which has been cancelled and reissued cannot be verified online, even if it has not yet expired.

The address search checks your address against records held by the Companies Office, Land Information New Zealand and the Centrix credit reporting database. If your address is not held in any of these databases, the automatic verification service will return a message saying that your address could not be verified. If this happens, you can upload your proof of address (a bank statement or utility bill less than three months old) or provide it by email or post.

If you do not have current New Zealand-issued ID, you will need to follow the offline verification process instead.

What are my responsibilities as a customer of InvestNow? 2016-12-18T22:02:11+00:00

You should read the Client Agreement carefully to ensure that you understand all of the terms and conditions of your agreement with us.

You should read the disclosure material for any fund before investing. We strongly recommend that you seek independent advice before making any investment.

What types of customers can join InvestNow? 2016-12-18T22:01:28+00:00

InvestNow offers the following account types, to NZ residents only:

  • Individual
  • Joint
  • Trust
  • NZ Company
What is so special about InvestNow? 2017-01-09T03:03:13+00:00

InvestNow provides a simple and efficient way to manage your managed funds investments.  InvestNow does not charge transaction or admin fees (note – investment managers fees and costs are reflected in their unit prices).  

InvestNow provides you with: 

  • Online account registration
  • Online access to managed funds 24/7
  • Access to a range of selected managed funds.
  • Easy online access to your investment information, with comprehensive reports and statements
  • You can contact us Mon-Fri 8:00am to 5:00pm (excludes national public holidays)
  • A near-paperless experience with all information held online
  • We handle the administration 
Who is providing the InvestNow service? 2016-12-18T21:59:30+00:00

InvestNow is brought to you by Implemented Investment Solutions (iisolutions.co.nz).

Implemented Investment Solutions Limited, based in Wellington, is a specialist investment management company focused on meeting the specific needs and requirements of New Zealand investors and clients. Our objective is to provide our clients with access to world-class investment solutions and opportunities, while ensuring that these are easy to use and understand.

For more information visit http://iisolutions.co.nz/about-us/

What products and services does InvestNow provide? 2017-01-09T03:02:31+00:00

InvestNow offers access to the managed funds of a select range of investment managers. The range of funds and managers offered will change over time as we review their suitability for InvestNow.

For a full list of the current range of managed funds please visit investnow.co.nz/who-we-are/our-fund-managers/

What is InvestNow? 2017-01-09T03:01:35+00:00

InvestNow is an online managed funds service. It allows you to buy and sell managed funds online 24/7 at www.InvestNow.co.nz

InvestNow offers access to the managed funds of a select range of investment managers. The range of funds and managers offered will change over time as we review their suitability for InvestNow.

InvestNow does not charge and transaction or admin fees.

How do I close my InvestNow account? 2017-01-18T22:10:27+00:00

Because there are no fees or costs associated with your InvestNow account, even if you have no money or managed funds in the account, there is no need to close your account.

However, should you wish to do so please contact us on 0800 499 466 or contact@investnow.co.nz