PMG, InvestNow Fund Manager

InvestNow is an online investment platform that offers Kiwis access to a large range of KiwiSaver, Managed Fund & Term Deposit investment options through a convenient online portal. InvestNow has over 150 managed funds from more than 20 fund managers.

Previously, InvestNow partnered with PMG to offer InvestNow customers the opportunity to take part in the capital raises for the PMG Generation Fund and the Pacific Property Fund Limited – both unlisted commercial property funds. These funds were offered for a limited time on InvestNow, and are no longer accepting new applications. See below information on these funds that are from time to time, offered by PMG on InvestNow.

PMG investment options:

Below is more information about the Managed Fund investment options from PMG that were previously offered through the InvestNow platform. To see a full range of Managed Fund investment options on InvestNow, including fee information and links to relevant disclosure material, please click here. To invest in InvestNow’s range of investment options, create an online account or log in.

Please note, the Pacific Property Fund Limited is its own legal entity, the manager of the fund is PMG Property Funds Management Limited.

Fund goal
To provide Shareholders with a stable, sustainable monthly income stream combined with the potential for capital growth in the value of shares.

Fund strategy
To invest in commercial property investments over time, diversified by region, sector, and tenant. The Fund targets investments underpinned by national or international tenants operating at scale, and ensures all property investments are actively managed.

Fund goal
To provide ease of access to commercial property investment for more New Zealanders, so they can enjoy the benefits of regular and reliable income with the potential for capital growth over time.

Fund strategy
To invest and grow a portfolio of strategically selected direct and indirectly held commercial property assets across New Zealand, which provide building, tenant, geographic and sector diversification.

Frequently Asked Questions

You can download and view the Pacific Property Fund Limited PDS here.

You can download and view the PMG Generation Fund PDS here.

New Zealand listed and unlisted property funds are governed by the applicable laws including the Financial Markets Conduct Act 2013 (FMCA) and regulated by the Financial Markets Authority (FMA).

Listed property funds (or sometimes known as Listed Property Vehicles) are quoted on stock exchanges such as the NZX, allowing investors to purchase shares/units in that fund through a broker or investment platform. Shares/units in listed property funds can be traded when the market is open. Market sentiment and demand for a fund can influence share/unit prices and, therefore, these property funds may be seen as more volatile because the shares/units trade at a premium (or discount) in relation to the value of the underlying property assets.

Unlisted property funds issue shares or units and are not quoted on a listed exchange (such as the NZX). To sell shares or units in an unlisted property fund, the Managers typically offer a matching service, facilitating the matching of buyers with sellers or, where it is permitted, private transfers may be arranged by buyers and sellers between themselves. The value of the shares or units is updated regularly with a prescribed valuation methodology as set out in the Fund’s establishment deeds. The value of shares or units in unlisted property funds tend to be less volatile than listed property funds because investors are not acquiring or selling the units on a value set by the market demand (as it would be for a listed property fund) and the associated daily market influences on value. The property portfolio within an unlisted property fund is typically valued annually by an independent registered valuer (or more frequently as required), so the unit price generally reflects the actual value of the underlying property assets.

PMG’s retail managed investment schemes and licensed scheme managers (of which PMG is one) are overseen by the Financial Markets Authority (FMA), and additionally, PMG is licensed under the Financial Markets Conduct Act 2013 (FMCA 2013). This means, by law, managers of these schemes need to provide a high level of transparency on their investment offers and are closely monitored, which provides more regulatory protection for investors.

The Fund is a property investment company primarily investing in a portfolio of commercial property in New Zealand. The Fund is not a “Managed Investment Scheme” for the purposes of the Financial Markets Conduct Act 2013 and does not require a manager licensed by the Financial Markets Authority (FMA) or an independent supervisor licensed by the FMA to govern its investment activities. Investor rights are set out in the constitution of the Fund, which has been set up in accordance with the Companies Act 1993.

Any returns (also known as cash distributions) are paid into your InvestNow Transaction Account monthly.

As these are not continuous issuance funds, after 25 March 2022 for the PMG Generation Fund and after 26 August 2022 for the Pacific Property Fund Limited, customers will not be able to purchase any more units via InvestNow, nor add these funds to a Regular Investment Plan. In the future, if PMG decides to make these funds available for purchase on InvestNow again, we will look to notify InvestNow customers accordingly.

The PMG Generation Fund and the Pacific Property Fund Limited are both a multi-rate Portfolio Investment Entity (PIE). Returns are taxed at your Prescribed Investor Rate (PIR) (of up to 28%), and tax is paid directly to the IRD.

If you have any questions relating to the taxation of your investment, we recommend you seek professional advice from a qualified accountant and/or tax specialist.

Yes, you can. You create a sell order from your holding when logged into your InvestNow account. PMG action sale requests once a month at the start of each month for the PMG Generation Fund, and once a quarter for the Pacific Property Fund Limited. They will attempt to match a buyer with a seller to fulfil the request. However, if they are unable to match a buyer and seller immediately there would be a delay in fulfilling your sale order and ultimately a buyer may never be found for your units/shares.

All distributions to InvestNow customers from the PMG Generation Fund can be in cash or reinvested.

All distributions to InvestNow customers from the Pacific Property Fund Limited will be in cash only. Even if InvestNow customers have selected the reinvestment option, distributions will still only be made in cash to your InvestNow account.

PMG has a gross cash return calculator for each of these funds on their website. To see what you could earn for the PMG Generation Fund, please click HERE. To see what you could earn for the Pacific Property Fund Limited, please click HERE.

PMG Property Funds Management Limited (PMG). PMG is licensed under the Financial Markets Conduct Act 2013 to manage Managed Investment Schemes (excluding managed funds) which own New Zealand real property and/or invests in New Zealand property funds, listed New Zealand and Australian companies that invest primarily in real property and Australian listed property trusts.

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