If you selected to have any income or distributions paid to you, and not reinvested in the same fund, any monies will be credited to your InvestNow Transaction Account.
If you had selected to have any income or distributions reinvested in the specific fund, this will happen automatically.
Your buy and sell orders are carried out according to the time frames specified in the “When are my buys and sells completed?”
Public holidays will cause small delays and there can potentially be other delays due to additional tasks being carried out by the fund managers – we would not expect these delays to be any longer than a few business days.
Yes you can cancel a Buy or Sell order up until 12pm of the business day in which you placed the order. Where you have placed an order on a non-business day, you can cancel the order up until 12pm of the next business day.
No you can not amend an order. If the order is still in a pending status then you can cancel it. You can then create a new Buy or Sell order.
You will receive a notification in a number of ways:
InvestNow does not provide financial advice.
Prior to investing in any Fund you should read the disclosure material and research the managed fund to ensure that it meets your specific investment needs.
We believe it is good practice to get independent financial advice, and recommend that you get this. A list of Authorised Financial Advisers (AFAs) is available on the FMA’s website: www.fma.govt.nz
Websites such as sorted.org.nz are also a useful resource. Visit their “Investing & savings guide” for helpful information.
There is no minimum amount for deposits into your InvestNow Transaction Account.
Minimum investment amount for Managed Funds purchases is $50, when part of a Regular Investment Plan, or $250 for one-off investments
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.