You would have heard from us last week, with regards to Rabobank New Zealand’s decision to close and wind up the Cash Advantage Fund (CAF).

Your options

  1. Option A – instruct us to redeem all your units in the CAF
  2. Option B – instruct us to facilitate a switch to the AMP Capital NZ Cash Fund (NZ Cash Fund)

If you do not select an Option by March 7th, we will redeem all your units and credit the proceeds to your InvestNow Transaction Account.

Key dates?

  • February 20th – we wrote to all CAF unit holders
  • February 23rd – the Fund was closed to applications from new and existing unit holders.
  • March 7th – the final date that unit holders will have to instruct us to transition their holdings into the NZ Cash Fund.
  • March 13th – transition to the Cash Fund and redemption of CAF units will take place

The NZ Cash Fund

The NZ Cash Fund uses both interest rate and credit strategies with the aim of providing investors with a return above the Bloomberg NZ Bond Bank Bill Index on a rolling 12 month basis.

Please note that this is not a recommendation to invest in the NZ Cash Fund. You should seek professional advice before making any investment decisions. A Product Disclosure Statement (PDS) is available here. If you are thinking about transitioning to the NZ Cash Fund please read the PDS carefully as the NZ Cash Fund has different features to CAF.

There will be no cost to unit holders to transition to the NZ Cash Fund but the NZ Cash Fund does have annual fund charges and expenses.

Those unit holders who decide to redeem their units in CAF instead of transferring to the NZ Cash Fund will not incur any costs.

Further information

If you have any questions about this matter please contact us on 0800 499 466 or contact@investnow.co.nz

By |2019-06-25T16:36:25+12:00February 26th, 2018|News|0 Comments