Date: 10 June 2025
Upcoming Closure of the InvestNow Salt NZ Dividend Appreciation Fund
We would like to inform you that the InvestNow Salt NZ Dividend Appreciation Fund (Fund), will no longer be available within the InvestNow KiwiSaver Scheme, effective on or around Friday 27th June 2025.
This decision was made after careful consideration Salt Investment Funds Limited, the manager of the underlying Salt NZ Dividend Appreciation Fund that the Fund invests into, as it is no longer efficient to continue offering this as a fund option within the InvestNow KiwiSaver Scheme.
Please note that the underlying Salt NZ Dividend Appreciation Fund itself is not closing and will continue operating outside of the InvestNow KiwiSaver Scheme, including remaining available as an investment option on the InvestNow Managed Funds platform.
You have the following options available to you:
- You can choose to reallocate your holdings in the InvestNow Salt NZ Dividend Appreciation Fund to a new investment option(s) of your choice at any time before 12pm on Friday 27 June 2025. To update your InvestNow KiwiSaver Scheme portfolio, remove the InvestNow Salt NZ Dividend Appreciation Fund from both your current investment mix as well as your future contributions. You can find instructions on how to do this here. Please note you must select “Apply change to your current investment mix and future contributions” for step 3, and then select the appropriate percentages you want to invest into each fund going forward.
- You can choose to remain invested in the InvestNow Salt NZ Dividend Appreciation Fund until it closes and we will sell your holdings in the Fund on your behalf and reinvest the proceeds into the InvestNow Mint Australasian Equity Fund.
The InvestNow Mint Australasian Equity Fund has been selected as the default replacement investment option for members as it most closely matches the underlying asset mix of the closing InvestNow Salt NZ Dividend Appreciation Fund.
Please note, that while the InvestNow Mint Australasian Equity Fund also invests predominantly into NZ equities, it is also exposed to a small proportion of Australian equities. In addition, the InvestNow Mint Australasian Equity Fund also charges a higher annual management fee of 1.19% p.a. (including GST), versus 1.11% p.a. (including GST) for the InvestNow Salt NZ Dividend Appreciation Fund.
Further information on the InvestNow Mint Australasian Equity Fund, can be found in the fund’s PDS, available here.
Should you have any questions please do not hesitate to contact us on 0800 499 466 or at contact@investnow.co.nz
Mike HeathGeneral ManagerInvestNowMob: +64 27 285 9178
mikeheath@investnow.co.nz
InvestNow is a member of the Apex Group.
InvestNow does not provide personalised investment advice. We are one component of a person’s financial landscape and actively promote that our customers seek personalised advice from qualified advisers external to InvestNow. Click here to learn more about the tools and resources we offer to help you with your investment decisions.
The issuer and manager of the InvestNow KiwiSaver Scheme and Foundation Series Funds is FundRock NZ Limited. For the InvestNow KiwiSaver Scheme Product Disclosure Statements click here.