Product Disclosure Statement Updates

Updates for the Foundation Series Funds and InvestNow KiwiSaver Scheme Product Disclosure Statements (PDS) are summarised below.

Please note, this page is only to inform you of recent changes. To access all the InvestNow KiwiSaver Scheme PDS documents please click here or the Foundation Series Funds PDS documents click here.

INKS Australasian Shares Funds PDS

  1. Date change to 3 July 2025.
  2. Updated the InvestNow Harbour Australasian Equity Focus Fund’s:
    • Risk indicator from 6 to 5
  3. Removed the InvestNow Salt NZ Dividend Appreciation Fund to reflect fund closure
    • Updated ‘Example of how fees apply’ from InvestNow Salt NZ Dividend Appreciation Fund to InvestNow Mint Australasian Equity Fund.
  4. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  5. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  6. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  7. Minor wording adjustments.

INKS Cash and NZ Fixed Interest Funds PDS

  1. Date change to 3 July 2025.
  2. Updated InvestNow Macquarie NZ Fixed Interest Fund’s:
    • Buy/Sell Spread from 0.10%/0.10% to 0.07%/0.07%
    • Example of how fees apply to reflect updated buy spread for the InvestNow Macquarie NZ Fixed Interest Fund.
  3. Updated InvestNow Russell Investments NZ Fixed Interest Fund’s:
    • Estimated Annual Fund Charges from 0.49% to 0.50%
    • Buy/Sell Spread from 0.10%/0.15% to 0.08%/0.08%
  4. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  5. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  6. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  7. Minor wording adjustments.

INKS Diversified Funds #1 PDS

  1. Date change to 3 July 2025.
  2. Updated InvestNow Milford Balanced Fund’s:
    • Estimated Annual Fund Charges from 1.06% to 1.07% including a change in the Performance Fee estimate from 0.01% to 0.02%
    • Example of how fees apply to reflect updated swing pricing adjustment for the InvestNow Milford Balanced Fund.
  3. Updated InvestNow Milford Active Growth Fund’s:
    • Estimated Annual Fund Charges from 1.20% to 1.25% including a change in the Performance Fee estimate from 0.15% to 0.20%
    • Risk indicator from 5 to 4
  4. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  5. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  6. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  7. Minor wording adjustments.

INKS Diversified Funds #2 PDS

  1. Date change to 3 July 2025.
  2. Updated InvestNow Castle Point 5 Oceans Fund’s:
    • Risk indicator from 4 to 3
    • Minimum suggested investment timeframe from 4 years to 3 years
  3. Updated Fund name from InvestNow Mercer Ethical Leaders Balanced Fund to the InvestNow Mercer Sustainable Balanced Fund
  4. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  5. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  6. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  7. Minor wording adjustments.

 INKS Diversified Funds #3 PDS

  1. Date change to 3 July 2025.
  2. Moved InvestNow Salt Sustainable Growth Fund from this PDS to INKS Diversified Funds #4 PDS
  3. Moved InvestNow Fisher Funds Conservative Funds to this PDS from INKS Diversified Funds #4 PDS
  4. Updated InvestNow Generate Focused Growth Fund’s:
    • Estimated Annual Fund Charges from 1.41% to 1.36%
  5. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  6. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  7. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  8. Minor wording adjustments.

INKS Diversified Funds #4 PDS

  1. Date change to 3 July 2025.
  2. Moved InvestNow Fisher Funds Conservative Funds from this PDS to INKS Diversified Funds #3 PDS
  3. Moved InvestNow Salt Sustainable Growth Fund to this PDS from INKS Diversified Funds #4 PDS
  4. Updated InvestNow Salt Sustainable Growth Fund’s
    • Fund name from InvestNow Salt Sustainable Growth Fund to the InvestNow Salt Capital Growth Fund
    • Estimated Annual Fund Charges from 1.11% to 1.14%
  5. Updated InvestNow Smartshares Growth Fund’s:
    • Fund name from InvestNow Smartshares Growth Fund to the InvestNow Smart Growth Fund
    • Risk indicator from 5 to 4
  6. Updated InvestNow Fisher Funds Growth Fund’s:
    • Risk indicator from 5 to 4
  7. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  8. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  9. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  10. Minor wording adjustments.

 INKS Global Fixed Interest Funds PDS

  1. Date change to 3 July 2025.
  2. Updated Fund name from InvestNow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund to the InvestNow Mercer Responsible Hedged Global Fixed Interest Index Fund
  3. Updated InvestNow Russell Investments Global Fixed Interest Fund’s:
    • Estimated Annual Fund Charges from 0.59% to 0.58%
    • Buy/Sell Spread from 0.15%/0.15% to 0.20%/0.20%
  4. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  5. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  6. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  7. Minor wording adjustments.

INKS Property Funds PDS

  1. Date change to 3 July 2025.
  2. Updated InvestNow Salt Enhanced Property Fund’s:
    • Estimated Annual Fund Charges from 1.05% to 1.08%
  3. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  4. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  5. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  6. Minor wording adjustments.

INKS Global Shares Funds #1 PDS

  1. Date change to 3 July 2025.
  2. Updated InvestNow Russell Investments Global Shares Fund’s
    • Estimated Annual Fund Charges from 0.89% to 0.86%
    • Buy/Sell Spread from 0.18%/0.13% to 0.12%/0.10%
  3. Updated InvestNow Russell Investments Hedged Global Shares Fund’s
    • Estimated Annual Fund Charges from 0.92% to 0.88%
    • Buy/Sell Spread from 0.20%/0.15% to 0.14%/0.12%
  4. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  5. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  6. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  7. Minor wording adjustments.

INKS Global Shares Funds #2 PDS

  1. Date change to 3 July 2025.
  2. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  3. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  4. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  5. Minor wording adjustments.

INKS Te Ahumairangi Global Equity Fund PDS

  1. Date change to 3 July 2025.
  2. Updated InvestNow Te Ahumairangi Global Equity Fund’s:
    • Risk indicator from 5 to 4
  3. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  4. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  5. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  6. Minor wording adjustments.

INKS FS Diversified Funds PDS

  1. Date change to 3 July 2025.
  2. Added new fund to the Scheme:
    • InvestNow Foundation Series High Growth Fund
  3. Updated InvestNow Foundation Series Balanced Fund’s
    • Buy/Sell Spread from 0.08%/0.10% to 0.07%/0.08%
    • Example of how fees apply to reflect updated buy spread for the InvestNow Foundation Series Balanced Fund.
  4. Updated InvestNow Foundation Series Growth Fund’s
    • Buy/Sell Spread from 0.10%/0.11% to 0.08%/0.08%
    • Minimum suggested investment timeframe from 5 to 6 years
  5. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  6. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025) for InvestNow Foundation Series Balanced Fund and InvestNow Foundation Series Growth Fund.
  7. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  8. Minor wording adjustments.

INKS FS Core Equity Funds #1 PDS

  1. Date change to 3 July 2025.
  2. Renamed PDS from FS Core Equity Funds to FS Core Equity Funds #1
  3. Updated InvestNow Foundation Series Total World Fund’s
    • Estimated Annual Fund Charges from 0.07% to 0.06%
  4. Updated InvestNow Foundation Series Hedged Total World Fund’s
    • Estimated Annual Fund Charges from 0.07% to 0.06%
    • Risk indicator from 6 to 5
  5. Updated fee example from InvestNow Foundation Series US 500 Fund to InvestNow Foundation Series Total World Fund
  6. Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  7. Update of risk indicator calculation period to end of most recently published quarterly fund update (31 March 2025)
  8. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  9. Minor wording adjustments.

INKS FS Core Equity Funds #2 PDS

  1. New PDS to add the following new funds to the Scheme:
    • InvestNow Foundation Series US Dividend Equity Fund
    • InvestNow Foundation Series Global ESG Fund
    • InvestNow Foundation Series Nasdaq-100 Fund
  2. Compared to current PDS template, the following updates were made to this new PDS:
    • Updated ‘Making Investments’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
      • Upcoming changes to default employee and employer contribution rates
      • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
      • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
      • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
    • Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.

INKS SIPO

  1. Date change to 3 July 2025.
  2. Updated the following fund/underlying fund names:
    • InvestNow Mercer Ethical Leaders Balanced Fund to the InvestNow Mercer Sustainable Balanced Fund
    • InvestNow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund to the InvestNow Mercer Responsible Hedged Global Fixed Interest Index Fund
    • InvestNow Salt Sustainable Growth Fund to the InvestNow Salt Capital Growth Fund
    • InvestNow Smartshares Growth Fund to the InvestNow Smart Growth Fund
  3. Removed the following funds and associated Schedules:
    • InvestNow Salt NZ Dividend Appreciation Fund
  4. Added the following funds and associated Schedules:
    • InvestNow Foundation Series High Growth Fund
    • InvestNow Foundation Series US Dividend Equity Fund
    • InvestNow Foundation Series Global ESG Fund
    • InvestNow Foundation Series Nasdaq-100 Fund
  5. Updated the underlying international fixed interest’s benchmark index from S&P/ASX Corporate Bond 0+ Total Return Index (100% NZD-hedged) to the Bloomberg AusBond Credit 0+ Yr Index (100% NZD-hedged) for the following funds:
    • InvestNow Milford Conservative Fund
    • InvestNow Milford Balanced Fund
    • InvestNow Milford Active Growth Fund
  6. Updated the InvestNow Castle Point Trans-Tasman Fund’s benchmark range for Australasian equities to also include ranges of 65% – 100% for NZ equities and 0% – 25% for Australian equities
  7. Removed the Listed Property benchmark asset class for the InvestNow Clarity Global Shares Fund
  8. Updated the InvestNow Generate Focused Growth Fund’s:
    • Benchmark asset allocations, ranges and asset class benchmark indexes as follows:
      • Fixed Interest: Change from 80% to 65% S&P/NZX Investment Grade Corporate Bond Index and 20% to 35% S&P/ASX Corporate Bond Index 0+ NZD Hedged Index
      • Combine Australasian equities and property into one with a Target Asset Allocation of 30%, Range of 10% – 50% and Benchmark of 70% S&P/NZX50 Index, 20% S&P/ASX100 Industrials Total Return Index 100% hedged into NZD and 10% S&P/ASX200 A-REIT Total Return Index 100% hedged into NZD
      • Currency management policy wording
  1. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  2. Minor wording adjustments.

INKS OMI

  1. Date change to 3 July 2025.
  2. Updated ‘Contributions’ section to reflect new KiwiSaver changes announced in Budget 2025, including:
    • Upcoming changes to default employee and employer contribution rates
    • Upcoming option for members to apply for a temporary rate reduction to continue contributing at 3% rate
    • New Government Contribution eligibility criteria to include 16 year olds and exclude members who have over $180,000 taxable income p.a.
    • New Government Contribution rate at 25 cents for each dollar, capped at $260.72
  3. Updated ESCT rate thresholds
  4. Updated the following fund/underlying fund names:
    • InvestNow Mercer Ethical Leaders Balanced Fund to the InvestNow Mercer Sustainable Balanced Fund
    • InvestNow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund to the InvestNow Mercer Responsible Hedged Global Fixed Interest Index Fund
    • InvestNow Salt Sustainable Growth Fund to the InvestNow Salt Capital Growth Fund
    • InvestNow Smartshares Growth Fund to the InvestNow Smart Growth Fund
  5. Removed the following funds:
    • InvestNow Salt NZ Dividend Appreciation Fund
  6. Added the following funds/underlying funds and references to ‘Material Contracts’ section
    • InvestNow Foundation Series High Growth Fund
    • InvestNow Foundation Series US Dividend Equity Fund
    • InvestNow Foundation Series Global ESG Fund
    • InvestNow Foundation Series Nasdaq-100 Fund
  7. Updated the ‘Market Indices’ section to include reference to Nasdaq indices as well as standard Nasdaq disclaimer
  8. Updated Registrar from Link Market Services to MUFG Pension & Market Services (NZ) Limited to reflect company name change.
  9. Minor wording adjustments.

Foundation Series Funds Diversified Funds PDS

  1. Date change to 26 May 2025.
  2. Clarify disclosure around the Scheme’s responsible investment approach, in particular the negative screens that the Foundation Series High Growth Fund is exposed to, which aim to limit exposure to certain business practice.
  3. Update risk indicator calculations to 31 March 2025.

Foundation Series Funds Core Equity Funds #2 PDS

  1. Date change to 26 May 2025.
  2. Launch the new Foundation Series Nasdaq-100 Fund.
  3. Clarify disclosure around the Scheme’s responsible investment approach, in particular the negative screens that the Foundation Series Global ESG Fund is exposed to, which aim to limit exposure to certain business practice.
  4. Update risk indicator calculations to 31 March 2025.

Foundation Series OMI

  1. Date change to 26 May 2025.
  2. Reference the new Foundation Series Nasdaq-100 Fund.
  3. Update the material contracts section to account for the new contracts associated with the new Foundation Series Nasdaq-100 Fund.
  4. Updated ‘More Information about Market Indices’ section to account for a new market index providers for the Foundation Series Funds in Nasdaq, alongside the standard Nasdaq disclaimer.

Foundation Series SIPO

  1. Date change to 26 May 2025.
  2. Include new ‘Fund Investment Objectives and Strategies’ sections for the new Foundation Series Nasdaq-100 Fund.
  3. Updated disclosure around the Scheme’s responsible investment approach, in particular the International Equities’ Coal, Oil and Gas exclusions criteria, following an update to the exclusion criteria from the underlying solutions.

Foundation Series Funds Diversified Funds PDS

  1. Date change to 21 February 2025.
  2. Add the Foundation Series High Growth Fund.
  3. Add disclosure around the Scheme’s responsible investment approach, including details on the High Growth Fund’s ESG considerations.
  4. Amend disclosure around Liquidity Risk to outline more detail around how this risk is managed, including noting liquidity management tools available.
  5. Update the Foundation Series Growth Fund’s minimum investment timeframe from 5 years to 6 years
  6. Update risk indicator calculations to 31 December 2024

Foundation Series Funds Core Equity Funds #1 PDS

  1.  Date change to 21 February 2025.
  2. Renamed the PDS from Core Equity Funds to Core Equity Funds #1 to account for the new Core Equity Funds #2 PDS.
  3. Updated annual management fee for the Foundation Series Total World Fund and Foundation Series Hedged Total World Fund from 0.07% to 0.06%.
  4. Amend disclosure around Liquidity Risk to outline more detail around how this risk is managed, including noting liquidity management tools available.
  5. Update risk indicator calculations to 31 December 2024.
  6. Minor wording adjustments.

Foundation Series Funds Core Equity Funds #2 PDS

  1. Date change to 21 February 2025.
  2. Launch the new Foundation Series US Dividend Equity Fund and Foundation Series Global ESG Fund.
  3. Note that compared to the standard disclosure outlined in the current Foundation Series PDS’s, the new PDS incorporates:
    • Disclosure around the Scheme’s responsible investment approach including details on the Global ESG Fund’s ESG considerations.
    • Amend disclosure around Liquidity Risk to outline more detail around how this risk is managed, including noting liquidity management tools available.
    • Update the ‘What are the returns?’ section to account for the new US Dividend Equity Fund’s quarterly distributions.

Foundation Series OMI

  1. Date change to 21 February 2025.
  2. Reference the 3x new Foundation Series Funds (High Growth Fund, US Dividend Equity Fund and Global ESG Fund).
  3. Update the material contracts section to account for the new contracts associated with the 3x new Funds.
  4. Update the Distributions section to account for the new US Dividend Equity Fund’s quarterly distributions.
  5. Added a ‘Liquidity Management Tools’ section to provide additional detail on the liquidity management tools available within the Scheme, as referenced in the new ‘Liquidity Risk’ disclosure within the 3x new PDS’s.
  6. Add an additional risk in relation to ESG risk.
  7. Updated ‘More Information about Market Indices’ section to account for a new market index providers for the Foundation Series Funds in FTSE.
  8. Minor wording adjustments.

Foundation Series SIPO

  1. Date change to 21 February 2025.
  2. Include new ‘Fund Investment Objectives and Strategies’ sections for the 3x new Foundation Series Funds (High Growth Fund, US Dividend Equity Fund and Global ESG Fund).
  3. Add disclosure around the Scheme’s responsible investment approach, including specific details on the High Growth and Global ESG Funds’ ESG considerations.
  4. Update the disclosure for the ‘Liquidity’ section, to highlight how liquidity risk is managed and the ability to use liquidity management tools, as referenced in the new ‘Liquidity Risk’ disclosure within the 3x new PDS’s.
  5. Added reference to InvestNow’s Responsible Investment Statement within the ‘Investment Policies’ section.
  6. Minor wording adjustments.

InvestNow Antipodes Global Value Fund

  1. Update to fund name from InvestNow Antipodes Global Fund – Long to InvestNow Antipodes Global Value Fund to reflect a change in underlying fund name from Antipodes Global Fund – Long (PIE) to Antipodes Global Value Fund (PIE)
  2. Update to the Estimated Annual Fund Charges from 1.25% to 0.95%

InvestNow Fisher Funds Growth Fund

  1. Update to the Estimated Annual Fund Charges from 1.02% to 1.04%
  2. Update to fee example to reflect new InvestNow Fisher Funds Growth Fund fee

InvestNow Mercer Ethical Leaders Balanced Fund

  1. Update to the fund’s buy spread from 0.13% to 0.12%
  2. Update to the fund’s target asset allocation and ranges as follows:
    – Cash and Cash Equivalents’ target asset allocation from 5% to 4%
    – International Fixed Interest’s target asset allocation to:
    • Overseas Sovereign Bond’s allocation from 22% to 11%
    • Global Credit from 0% to 10%
    • Other Fixed Interest from 3% to 5%
    – Total Fixed Interest’s target asset allocation from 35% to 36%, and range from 18% – 48% to 21%-51%
    – Australasian Equities’ target asset allocation from 14% to 13% and range from 4%-25% to 3%-23%
    – International Equities’ target asset allocation from 38% to 39% and range from 28%-48% to 29%-49%

OMI

  • Changes to reflect PDS updates (as appropriate)
  • Section on deferral of withdrawals changed to suspension of withdrawals and content adapted to match trust deed

SIPO

  • Changes to reflect PDS updates (as appropriate)

InvestNow Antipodes Global Fund

  1. Fund transferred from INKS Global Shares Funds #2 PDS to INKS Global Shares Funds #1 PDS
  2. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  3. Updated minimum suggested investment timeframe from 7 years to 5 years

InvestNow Castle Point 5 Oceans Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Minimum suggested investment timeframe from 4 years to 3 years

InvestNow Castle Point Trans-Tasman Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Minimum suggested investment timeframe from 7 years to 5 years
  3. Outperform objective timeframe from rolling 3 years to rolling 5 years

InvestNow Clarity Global Shares Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Minimum suggested investment timeframe from 7 years to 5 years
  3. Benchmark to remove the “ex-Tobacco” to make it MSCI All Country World Index (net dividends reinvested) in NZ dollars with 50% hedged to NZD

InvestNow Fisher Funds Conservative Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Fisher Funds Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Generate Focused Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Harbour Active Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 0.98% to 1.05% including a change in the Performance Fee estimate from 0.00% to 0.07%
  3. Target Asset Allocation (Australasian shares from 30% to 25%, International shares from 30% to 35%, Listed property from 10% to 5% and Other assets from 0% to 5%)

InvestNow Harbour Australasian Equity Focus Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charge’s from 1.45% to 1.36%
  3. Minimum suggested investment timeframe from 7 years to 5 years

InvestNow Harbour NZ Core Fixed Interest Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Harbour T. Rowe Price Global Equity Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Minimum suggested investment timeframe from 7 years to 5 years

InvestNow Hunter Global Fixed Interest Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 0.54% to 0.53%
  3. Risk Indicator from 3 to 4

InvestNow Macquarie Global Listed Real Estate Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.34% to 1.36% including
  3. Minimum suggested investment timeframe from 7 years to 13 years

InvestNow Macquarie NZ Cash Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charge’s from 0.28% to 0.30%
  3. Risk Indicator from 1 to 2

InvestNow Macquarie NZ Fixed Interest Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charge’s from 0.59% to 0.60%
  3. Buy/Sell Spread from 0.05%/0.05% to 0.10%/0.10%

InvestNow Mercer All Country Global Shares Index Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 0.42% to 0.46%
  3. Sell Spread from 0.07% to 0.12%
  4. Minimum suggested investment timeframe from 7 years to 13 years
  5. Updated benchmark from 69% gross hedged to 50% hedged to the NZD on an after-tax basis

InvestNow Mercer Ethical Leaders Balanced Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.33% to 1.32%
  3. Buy/Sell Spread from 0.16%/0.16% to 0.13%/0.12%
  4. Investment objective to reference achieving a rate of return (after fees) that exceeds CPI increases by at least 2.5% per annum after tax and 3.5% before tax over a minimum of eight years
  5. Target Asset Allocation (Cash and cash equivalents from 10% to 5%, NZ Fixed Interest from 12.5% to 10%, International fixed interest from 12.5% to 25%, Income Assets from 35% to 40%, Australasian shares from 20% to 14%, International shares from 35% to 38%, Listed property from 10% to 0%, Unlisted Property from 0% to 3%, Other assets from 0% to 5%, Growth Assets from 65% to 60%).
  6. Minimum suggested investment timeframe from 5 years to 8 years

InvestNow Mercer Ethical Leaders Hedged Global Fixed Interest Index Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Buy Spread from 0.17% to 0.16%
  3. Risk Indicator from 3 to 4

InvestNow Mercer NZ Shares Passive Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charge’s from 0.36% to 0.34%
  3. Minimum suggested investment timeframe from 7 years to 13 years

InvestNow Milford Active Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Target Asset Allocation (Australasian shares from 34% to 30% and International shares from 44% to 48%)
  3. Swing pricing adjustment from 0.13% to 0.10%

InvestNow Milford Aggressive Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Swing pricing adjustment from 0.10% to 0.09%

InvestNow Milford Balanced Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Swing Pricing Adjustment from 0.12% to 0.11%

InvestNow Milford Conservative Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charge’s from 0.95% to 0.85%
  3. Swing Pricing Adjustment from 0.11% to 0.10%

InvestNow Mint Australasian Equity Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Outperformance objective against “after fees and expense” benchmark

InvestNow Mint Diversified Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.18% to 1.21%

InvestNow Mint Diversified Income Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 0.94% to 0.98%

InvestNow Pathfinder Ethical Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.50% to 1.33%

InvestNow Russell Investments Global Fixed Interest Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Risk Indicator from 3 to 4

InvestNow Russell Investments Global Shares Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Russell Investments Hedged Global Shares Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Russell Investments NZ Fixed Interest Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)

InvestNow Salt Enhanced Property Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.15% to 1.05% including a change in the Performance Fee estimate from 0.05% to 0.02%
  3. Minimum suggested investment timeframe from 7 years to 5 years

InvestNow Salt NZ Dividend Appreciation Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.14% to 1.11%

InvestNow Salt Sustainable Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Estimated Annual Fund Charges from 1.12% to 1.11%

InvestNow Smartshares Growth Fund

  1. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  2. Target Asset Allocation (NZ fixed interest from 8% to 6% and International fixed interest from 8% to 10%)
  3. Minimum suggested investment timeframe from 7 years to 9 years

InvestNow Te Ahumairangi Global Equity Fund

  1. Renamed  PDS from INKS Global Shares Funds #2 PDS to INKS Te Ahumairangi Global Equity Fund PDS
  2. Update of risk indicator calculation period to end of most recent quarter (30 September 2024)
  3. Estimated Annual Fund Charges from 0.63% to 0.62%