What do I do when the document(s) I have used to complete the AML verification, expire?

We will be in touch with you prior to the expiry date of the document(s) you have used for the AML verification process, and will advise you to repeat the AML verification process with your new documents.

You will hear from us approximately one month prior to your original documents expiring, and will have one month, after the expiry date of the original documents, in which to complete the AML verification. If you do not complete this within the month, your account may be suspended until the task is completed […]

By Mike Heath|2019-06-14T13:39:03+12:00December 18th, 2016|Account Questions|Comments Off

What are the different member types for InvestNow?

There are four different member types for InvestNow:

Owner
Accountant
Auditor
Viewer

Each member type can have either Authoriser permissions (has full delegated authority and access to the account and all functionality) or view-only where they are unable to process any transactions.

By Mike Heath|2019-06-14T13:39:46+12:00December 18th, 2016|Account Questions|Comments Off

Which Managed Funds pay distributions and how frequently do they pay them?

Which managed funds pay distributions and how frequently do they pay them?

You have the option of either having distributions paid as cash into your Transaction Account or reinvested to purchase additional units in the relevant fund.

This preference is applied to all Funds in your InvestNow account.

Macquarie Asset Management

The Macquarie Income Generator Fund pays a fixed monthly distribution. The distribution rate is reviewed on or around 1 April and 1 October each year, and unit-holders are advised by email of any change.

The following funds pay a half-yearly distribution, calculated on […]

By Mike Heath|2022-05-09T12:02:55+12:00December 18th, 2016|Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

When are my buys and sells completed?

When are my buy and sells completed?

The cut-off time for the receipt of buy or sell orders and cleared funds for all Funds is currently 12pm NZ time (Monday to Friday, excluding national public holidays).

If buy or sell orders are accepted before the cut-off time for a Fund on a valuation day, units will normally be issued or redeemed price determined at the end of that day.

Please note that this does not apply to Russell Investments, Antipodes Partners, Elevation Capital or Pie Funds:

Russell Investments NZ PIE funds – for […]

By Mike Heath|2023-08-08T08:23:55+12:00December 18th, 2016|Account Questions, Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

Can I switch my investment from one fund into another?

There is no functionality offered on InvestNow to facilitate this. If you want to switch from one fund to another, you have to sell the first one, wait until the sale proceeds are in your Transaction Account and then buy the second fund.

By Mike Heath|2019-06-14T13:43:46+12:00December 18th, 2016|Investment Portfolio Management Questions|Comments Off

Do any minimums apply for when I want to sell any Managed Funds?

Yes – if you chose a dollar value for the sale, the sale can be no lesser than the indicative unit price for one unit. If you chose to sell a number of units, it has to be for at least one unit in the fund.

The minimum cash withdrawal amount from InvestNow is $1.

By Mike Heath|2019-06-14T13:44:33+12:00December 18th, 2016|Investment Portfolio Management Questions|Comments Off

What are cleared funds?

Cleared funds are monies in your Transaction Account that have been desposited from your nominated account and are available for fund purchases.

By Mike Heath|2019-06-14T13:45:16+12:00December 18th, 2016|Term Definitions|Comments Off

Can I have more than one account on InvestNow?

Yes you can.

You can have more than one account and you can be linked with more than one account – for example:

Mike wants to operate a Family Trust account plus a Joint account for him and his wife Julie. Mike can be linked to both accounts and can use the same e-mail address for both, although InvestNow will have to help with the set up when one e-mail address is linked to more than one account.

By Mike Heath|2019-06-14T13:45:59+12:00December 18th, 2016|Account Questions|Comments Off

Why do some funds have no performance data?

“Where a fund has not been active for at least 1 year, there is no performance data available.

The data is sourced from The Disclose Register. This is a register for offers of financial products and managed investment schemes under the Financial Markets Conduct Act 2013.”

By Mike Heath|2019-06-14T13:46:43+12:00December 18th, 2016|Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

What fund performance data is available?

On the Invest page we provide 1 Year & 5 Year performance data. This data is net of fees and before tax.

The data is sourced from The Disclose Register. This is a register for offers of financial products and managed investment schemes under the Financial Markets Conduct Act 2013.

This data is updated within the month following the corresponding updates on The Disclose Register (currently quaterly January, March, July & December).

The Disclose Register is provided by the New Zealand Companies Office and can be found at https://www.companiesoffice.govt.nz/disclose.

By Mike Heath|2019-06-14T13:47:29+12:00December 18th, 2016|Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off