Why is my investment return different from the fund’s return?

Article written by Jason Choy, InvestNow Senior Portfolio Manager – October 2026

If you’ve ever compared your investment return with the return reported by a fund, you may have noticed they don’t always match.

Sometimes your return will be lower. Sometimes it might be higher.

Your first thought may be something’s gone wrong. Maybe the difference is due to fees, or maybe you’re reading the numbers incorrectly.

But there is another explanation: the return earned by a fund and the return earned by […]

Who is Morrison?

Article written by Paul Newfield, Partner and CEO at Morrison

From New Zealand origins to a global infrastructure leader

Many New Zealand investors know Infratil, the infrastructure investment company listed on the NZX and ASX. Fewer know our story behind it, the story of Morrison, which began in Wellington in 1988 and now spans seven offices across Europe, North America and the Asia-Pacific region.

Today, Morrison offers […]

Active by conviction, with passive “haystacks” if required

Article written by Anthony Edmonds, Director, Business Development and Clients at Aurellan Asset Management

At Aurellan Asset Management Limited our predominant focus is on active management. The two Aurellan Global Shares Funds that are available on InvestNow provide investors with exposure to three specialist active managers who we selected with input from our global investment consultancy and research partner, Wilshire.

However, for our large wholesale clients that […]

The Rise of the Millionaire DIY Investor

Article written by Jason Choy, InvestNow Senior Portfolio Manager – September 2026

Many New Zealanders who accumulate wealth have traditionally followed a set path: build up some assets, find a wealth manager or investment broker, and have them oversee a portfolio that grows and sets you up for life.

But in 2026, that model is changing.

Looking at our InvestNow customer and portfolio demographics, we’re increasingly seeing investors with large portfolios choosing to take control of their investments themselves.

And it’s not just digital native investors […]

Exchange Traded Funds (ETFs) and index investing explained

Article written by Thom Bentley, Head of Business Development at Smart

Exchange Traded Funds, or ETFs, have changed the way everyday investors can access investment markets.

With one investment, an ETF can give you access to hundreds of companies around the world, a particular market such as New Zealand or the US, bonds, gold, or even assets such as Bitcoin. Many ETFs do this by tracking an index. Others work […]

What actually is active investing?

Article written by Jason Choy, InvestNow Senior Portfolio Manager – August 2026

As an investor, one of the big decisions you’ll make is whether your money is managed actively or passively.

Maybe that decision is one you’re making yourself. Maybe it’s being made on your behalf through a fund you’ve invested in without giving much thought to the underlying approach.

Either way, it’s important to understand the difference between the two.

Over the past decade, passive investing has exploded in popularity. Low costs, simplicity and strong performance have […]

Home bias: Are Kiwi investors overexposed to the New Zealand economy?

Article written by Jason Choy, InvestNow Senior Portfolio Manager – July 2026

For many Kiwis, buying a home is the biggest financial decision you’ll ever make. It’s also likely to be one of the largest financial exposures you’ll have to the New Zealand economy.

Think about it.

Your income is tied to the New Zealand economy. Your house is tied to the New Zealand property market. Your KiwiSaver contributions come from a New Zealand employer.

None of that is inherently a bad […]

SpaceX and Mega IPOs: Navigating the Active Decisions behind Passive Investing

Article written by Jason Choy, InvestNow Senior Portfolio Manager – June 2026

2026 is shaping up to be the year of the mega IPO.

SpaceX has now entered public markets, with its first day of trading valuing the company at over $2 trillion USD. Both OpenAI and Anthropic have also confidentially filed paperwork for their own listings this year, which based off their latest private capital raises, would see each flirt with $1 trillion USD valuations.

Taken together, it represents one […]