Here are the steps to sell managed funds:
If you want to cancel your Sell order, you can select the “Cancel” link beside your Sell order on the Sell page. […]
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 (see FAQ for more details).
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. For Term Deposits the minimum amount you must invest differs for each bank. Please visit our TDs page for more information.
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.
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).
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. The nominated bank account must be under your control.
We do not accept cheque or cash deposits.
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:
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 […]
InvestNow does not charge any account or administration fees (we do receive a distribution fee on Term Deposits, see FAQ here, and interest held in Transaction Accounts, see FAQ here).
Any funds you choose to invest in have fund charges associated with them that are levied by the fund manager. The fund charges for funds on InvestNow are the same as you would experience investing directly with any of our fund managers. A small number of funds also have transaction fees* that InvestNow levies, which are applied […]
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.
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:
The identities of Companies and Trusts require additional documents being supplied to InvestNow: