Important message: For the top 25% of income-producing Trusts in New Zealand, that account for almost all tax levied for the sector, the recent increase in Trustee Tax to 39% will result, on average, in a $22,000 higher tax bill per year – a figure which rises to $88,000 for the top 5% of income-producing Trusts.

InvestNow Trust Accounts

Are you prepared to pay up to 40% more Trustee Tax?

From 1 April 2024, Trusts that earn more than $10,000 in income, will pay 39% p.a. (previously 33% p.a.) in Trustee Tax… But investing in portfolio investment entity (PIE) managed funds will allow the income a trust receives from it’s investment to be taxed at a maximum of just 28% p.a.

An InvestNow Trust Account gives trusts the ability to invest in the full range of PIE managed funds available on our platform. Read more about the trustee tax change and how PIE funds could lead to significant tax savings in our recent article “PIE time: how trusts can side-step a 40% higher tax bill as new high rates kick in.”

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Trust investments via PIE Managed Funds vs Direct Investments

There are a range of significant differences between these investment mechanisms, most of which apply to individuals as well as Trusts.
The table below outlines some of these key differences…

PIE Managed Funds

Direct Investments
Types of assets Trusts can be invested in Shares, Bonds, Property, Cash, Term Deposits Shares, Bonds, Property, Cash, Term Deposits
Maximum Applicable Tax Rate on investment gains 28% p.a. 39% p.a.
Investment Management Professional Fund Manager: Dedicated to research, selection and monitoring of investments on your Trust’s behalf Self-Managed:
Trust is self-reliant on time and expertise required for making and managing investments
Primary Costs of Investing Fund Fees:
Such as Management Fees and Buy/Sell Spreads/Fees		 Brokerage and Commission:
Costs associated with paying intermediaries to invest
Diversification Each investment provides exposure to a
Diversified Pool of Assets		 Each investment provides exposure to a
Single Asset Only
Liquidity Daily Liquidity
InvestNow’s PIE Managed Funds offer the ability to invest into or redeem out of a fund each business day. Cash is typically realised within 2 -3 business days.		 Asset-Dependent
Some direct investments have no daily liquidity without additional charges (e.g. term deposits and property), while others are more liquid (e.g. listed shares and on-call accounts)

Your managed fund investment options

150+ Diversified & Single Sector funds to choose from

Click here to view and filter the full range of funds by various fund characteristics, including fee, performance, and product disclosure information.

A diversified fund is an investment fund that is broadly invested across multiple market sectors, assets, and/or geographic regions. It holds a breadth of securities, often in multiple asset classes

Fund Name

Fee* p.a.
AMP Balanced Fund 0.82%
AMP Growth Managed Fund 0.82%
ANZ Investments OneAnswer Balanced Growth Fund 1.02%
Castle Point 5 Oceans Fund 1.31%
Fisher Funds Conservative Fund 1.34%
Fisher Funds Growth Fund 1.47%
Foundation Series Balanced Fund 0.37%
Foundation Series Growth Fund 0.37%
Generate Focused Growth Managed Fund 1.41%
Harbour Active Growth Fund 0.98%
Harbour Income Fund 0.65%
Harbour Sustainable Impact Fund 1.24%
Mercer Ethical Leaders Balanced Fund 1.35%
Mercer Ethical Leaders Conservative Fund 1.58%
Mercer Ethical Leaders Growth Fund 1.67%
Mercer Income Generator Fund 0.92%
Mercer Macquarie Real Return Opportunities Fund 1.35%
Milford Active Growth Fund 1.20%
Milford Aggressive Fund 1.15%
Milford Balanced Fund 1.06%
Milford Conservative Fund 0.95%
Milford Diversified Income Fund 0.85%
Mint Diversified Growth Fund 1.18%
Mint Diversified Income Fund 0.94%
Octagon Balanced Fund 1.17%
Pathfinder Ethical Growth Fund 1.50%
QuayStreet Income Fund 0.77%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

An equity fund is a fund that invests principally in stocks. It can be actively or passively (index fund) managed. The fund managers on InvestNow offer both Australasian and International equity funds.

Fund Name

Fee* p.a.
ANZ Investments OneAnswer Australian Share Fund 1.11%
ANZ Investments OneAnswer Equity Selection Fund 1.14%
ANZ Investments OneAnswer New Zealand Share Fund 1.10%
Castle Point Trans-Tasman Fund 1.07%
Devon Alpha Fund 1.82%
Devon Australian Fund 1.76%
Devon Dividend Yield Fund 1.19%
Devon Sustainability Fund 1.30%
Devon Trans-Tasman Fund 1.81%
Fisher Funds Australian Growth Fund 1.45%
Fisher Funds New Zealand Growth Fund 1.51%
Fisher Funds Trans Tasman Equity Trust 1.64%
Harbour Australasian Equity Focus Fund 1.45%
Harbour Australasian Equity Fund 1.10%
Harbour Australasian Equity Income Fund 1.08%
Harbour Long Short Fund 1.03%
Harbour NZ Index Shares Fund 0.21%
Harbour Sustainable NZ Shares Fund 0.26%
Mercer Ethical Leaders NZ Shares Fund 0.96%
Mercer Macquarie Australian Shares Fund 0.48%
Mercer NZ Shares Fund 0.79%
Mercer NZ Shares Passive Fund 0.34%
Milford Australian Absolute Growth Fund 1.25%
Milford Trans-Tasman Equity Fund 1.05%
Mint Australasian Equity Fund 1.19%
Mint New Zealand SRI Equity Fund 0.95%
Nikko AM Concentrated Equity Fund 1.15%
Nikko AM Core Equity Fund 0.95%
Octagon Australasian Equities Fund 1.17%
Octagon New Zealand Equities Fund 1.17%
Pathfinder Ethical Trans-Tasman Fund 1.15%
Pie Australasian Dividend Growth Fund 1.88%
QuayStreet NZ Equity Fund 1.28%
Russell Investments NZ Shares Fund 0.79%
Salt Long Short Fund 2.22%
Salt NZ Dividend Appreciation Fund 1.14%
Smartshares Australian Dividend ETF (ASD) 0.54%
Smartshares Australian Financials ETF (ASF) 0.54%
Smartshares Australian Mid Cap ETF (MZY) 0.75%
Smartshares Australian Resources ETF (ASR) 0.54%
Smartshares Australian Top 20 ETF (OZY) 0.60%
Smartshares NZ Dividend ETF (DIV) 0.54%
Smartshares NZ Mid Cap ETF (MDZ) 0.60%
Smartshares NZ Top 10 ETF (TNZ) 0.60%
Smartshares NZ Top 50 ETF (FNZ) 0.50%
Smartshares S&P/ASX 200 ETF (AUS) 0.30%
Smartshares S&P/NZX 50 ETF (NZG) 0.20%
TAHITO Te Tai o Rehua Fund 1.27%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

A Cash Fund aims to provide stable returns over the short term. The fund invests in income assets of a short-term nature such as bank deposits, floating rate notes and money market securities.

Fund Name

Fee* p.a.
Fisher Funds CashPlus Fund 0.80%
Mercer Macquarie NZ Cash Fund 0.25%
Milford Cash Fund 0.20%
Smartshares NZ Cash ETF (NZC)  0.20%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

An equity fund is a fund that invests principally in stocks. It can be actively or passively (index fund) managed. The fund managers on InvestNow offer both Australasian and International equity funds.

Fund Name

Fee* p.a.
Antipodes Global Fund – Long (PIE) 1.25%
ANZ Investments OneAnswer International Share Fund 1.10%
Elevation Capital Global Shares Fund 1.84%
Ellerston Global Mid Small Cap Fund 2.11%
Fisher Funds Global Fund 1.64%
Fisher Funds International Growth Fund 1.44%
Fisher Funds Property & Infrastructure Fund 1.59%
Foundation Series Total World Fund* 0.07%*
Foundation Series Hedged Total World Fund* 0.07%*
Foundation Series US 500 Fund* 0.03%*
Foundation Series Hedged US 500 Fund* 0.03%*
Harbour T. Rowe Price Global Equity Fund 1.20%
Harbour T. Rowe Price Global Equity Fund (Hedged) 1.23%
India Avenue Equity Fund — H Class 1.50%
Lighthouse Global Equity Fund 1.05%
Mercer All Country Global Shares Index Fund 0.41%
Mercer Core Global Shares Fund 1.41%
Mercer Core Hedged Global Shares Fund 1.58%
Mercer Emerging Markets Shares Fund 1.92%
Mercer Ethical Leaders Global Shares Fund 1.67%
Mercer Global Shares Fund 1.32%
Milford Global Equity Fund 1.35%
Nikko AM Global Shares Fund 1.20%
Nikko AM Global Shares Hedged Fund 1.20%
Pathfinder Global Responsibility Fund 1.07%
Pathfinder Global Water Fund 1.50%
Pie Global Growth Fund 2 1.52%
Pie Growth UK & Europe Fund 1.89%
Russell Investments Global Listed Infrastructure Fund 1.05%
Russell Investments Global Shares Fund 0.89%
Russell Investments Hedged Global Shares Fund 0.92%
Russell Investments Hedged Sustainable Global Shares Fund 0.34%
Russell Investments Sustainable Global Shares Fund 0.32%
Smartshares Asia Pacific ETF (APA) 0.55%
Smartshares Automation and Robotics ETF (BOT) 0.75%
Smartshares Emerging Markets Equities ESG ETF (EMG) 0.59%
Smartshares Emerging Markets ETF (EMF) 0.59%
Smartshares Europe Equities ESG ETF (EUG) 0.55%
Smartshares Europe ETF (EUF) 0.55%
Smartshares Global Equities ESG ETF (ESG) 0.54%
Smartshares Healthcare Innovation ETF (LIV) 0.75%
Smartshares Japan Equities ESG ETF (JPN) 0.55%
Smartshares Total World ETF (TWF) 0.40%
Smartshares US 500 ETF (USF) 0.34%
Smartshares US Equities ESG ETF (USA) 0.34%
Smartshares US Large Growth ETF (USG) 0.51%
Smartshares US Large Value ETF (USV) 0.51%
Smartshares US Mid Cap ETF (USM) 0.51%
Smartshares US Small Cap ETF (USS) 0.51%
Te Ahumairangi Global Equity Fund 0.62%
Vanguard International Shares Select Exclusions Index Fund 0.20%
Vanguard International Shares Select Exclusions Index Fund (Hedged) – NZD Class 0.26%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply. The Foundation Series US 500 Fund, Foundation Series Hedged US 500 Fund, Foundation Series Total World Fund and Foundation Series Hedged Total World Fund are subject to a transaction fee charge of 0.50% for all Buy Orders (entry fee) and 0.50% for all Sell Orders (exit fee).

A fixed interest fund is an investment for a fixed period of time, in which you lend the institution funds, and they agree to pay back that sum at the end of the term and interest at regular intervals. The fund managers on InvestNow offer both New Zealand and International fixed interest funds.

Fund Name

Fee* p.a.
Brandywine Global Opportunistic Fixed Income Fund 0.76%
Fisher Funds BondPlus Fund 1.21%
Fisher Funds Income Fund 0.93%
Hunter Global Fixed Interest Fund 0.53%
Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund 0.47%
Mercer Macquarie Global Income Opportunities Fund 0.99%
Milford Global Corporate Bond Fund 0.85%
Russell Investments Global Fixed Interest Fund 0.59%
Smartshares Global Aggregate Bond ETF (AGG) 0.30%
Smartshares Global Bond ETF (GBF) 0.54%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

A listed property fund invests in listed financial products issued by entities whose principal business involves the owning or managing of property, property-like assets or real assets.

Fund Name

Fee* p.a.
ANZ Investments OneAnswer Property Securities Fund 1.10%
Dexus Asian REIT Fund 0.98%
Dexus Global REIT Fund 0.98%
Harbour Real Estate Investment Fund 0.74%
Mercer Australian Property Index Fund 0.65%
Mercer Macquarie Global Listed Real Estate Fund 1.36%
Mint Australasian Property Fund 0.98%
Pathfinder Global Property Fund 1.15%
Salt Enhanced Property Fund 1.09%
Smartshares Australian Property ETF (ASP) 0.54%
Smartshares NZ Property ETF (NPF) 0.54%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

A fixed interest fund is an investment for a fixed period of time, in which you lend the institution funds, and they agree to pay back that sum at the end of the term and interest at regular intervals. The fund managers on InvestNow offer both New Zealand and International fixed interest funds.

Fund Name

Fee* p.a.
Fisher Funds New Zealand Fixed Income Trust 0.96%
Harbour NZ Core Fixed Interest Fund 0.65%
Harbour NZ Corporate Bond Fund 0.47%
Mercer Macquarie NZ Fixed Interest Fund 0.57%
Mercer Macquarie NZ Short Duration Fund 0.61%
Milford Trans-Tasman Bond Fund 0.65%
Nikko AM Income Fund 0.80%
Nikko AM NZ Corporate Bond Fund 0.70%
Russell Investments NZ Fixed Interest Fund 0.49%
Smartshares NZ Bond ETF (NZB) 0.54%
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* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

Fund Name

Fee* p.a.
Mercer Macquarie Global Listed Infrastructure Fund 1.33%
Squirrel Monthly Income Fund 2.00%
Vault International Bitcoin Fund 0.95%

* Fees are the manager’s estimates of the total annual fund charge as outlined in the Product Disclosure Statement (PDS). Note that this figure includes GST and any performance-based fees where applicable. Transaction-based charges may also apply when you buy or sell a fund, which could include buy/sell spreads, entry/exit fees, or swing pricing adjustments. Please see the PDS for full details on the charges that can apply.

Meet the fund managers

Learn more about the fund managers that manage your investments

Click here to see the range of fund managers we work with. From there you’ll be able to access information about each individual fund manager, including their investment approach, investment options, and their relevant editorial content.

Explore your trust investment options with InvestNow…

  • Diversified funds

  • Single-sector funds

  • Exchange Traded Funds (ETFs)

  • PIE funds

See the range of fund options

Register your interest

If you’d like more information about InvestNow Trust accounts, please complete the form below and we will be in touch.

Why choose an InvestNow Trust Account?

Full reporting control

Through your InvestNow Trust Account you’ll have the ability to generate all of the reports you need for your trust, whenever you need them. All members can have access to view the portfolio and produce investor reports.

Account access

Multiple people can be linked, as members, to an InvestNow Trust Account. Each member has specific rights – authoriser or view only.  Rules can be set up to determine how many members are required to approve transactions.

Custody and safekeeping

Your investments are held in a bare trust managed by independent custodian Adminis. This ensures 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 separated from the custodian’s business.

Frequently Asked Questions:

The identity and documentation requirements for a trust account are more detailed compared to other types of account. The following requirements are specific to trust accounts:

  • A copy of the trust deed (this does not need to be certified)
  • ID for all trustees and anyone else who has control over the trust e.g. protectors, directors of a trustee company
  • The date of birth for any named beneficiaries
  • Proof of address in the trust’s name, e.g. a bank statement or a rates bill
  • A brief explanation of the source of wealth for the trust, including a broad estimate of the trust’s overall wealth
  • Some form of supporting documentation for the source of wealth for the trust, for example a letter from an accountant or solicitor, financial statements, sale and purchase agreement, business accounts etc

Source of wealth information for trusts

We are required to ask for information relating to the “source of wealth” for trusts.  Typically, for a trust this might include things like financial accounts for a business the trust owns, evidence of sale of a property or a business, payslips, or information relating to an inheritance.

Requesting this level of information reflects our obligations under the AML-CFT Act 2009 and the guidelines set by the Financial Markets Authority (FMA). We will ask for this information when an account is opened, and may need to ask for more information on an ongoing basis.

Should we ask you for such information in the future, the regulations and guidelines state that our obligation is to develop an understanding of the size and nature of the wealth of a family trust and, importantly, how it was acquired. We aren’t expected to verify the entire financial history of a family trust, or identify every asset it holds.  However, the law requires us to be satisfied that the nature and size of a customer’s wealth matches what we know about them.

If you ever have questions about this or any other matter please don’t hesitate to contact us on 08700 499 466 or at contact@investnow.co.nz (Mon-Fri 8:00am to 5:00pm, excluding national public holidays). 

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 and client accounts are subject to daily reconciliation. 

InvestNow is a registered Financial Services Provider and is a member of the Apex Group.

InvestNow is member of the Apex Group.

Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 94 offices worldwide and 12,000+ employees in 38 countries, Apex Group delivers an expansive range of services to asset managers, financial institutions, private clients and family offices. Apex Group’s purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the Environment and Climate Change, Women’s Empowerment and Economic Independence, Education and Social Mobility.

InvestNow does not charge any transaction or admin fees to set up or operate an InvestNow Trust Account.

The investments that your Trust chooses to invest in have costs associated with them. This can include management fees, performance fees, buy/sell spreads and transaction fees, among others.

Please refer to the relevant disclosure material and the InvestNow website to ascertain what costs may be associated with the investments you select..

On InvestNow’s Managed Funds page we outline the costs for each fund.  This includes an indication of the annual 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 primarily sourced from The Disclose Register.