InvestNow Update – March 2020
InvestNow has hit the ground running in 2020!
The big news recently was the announcement from AMP Capital that they are moving their retail clients across to InvestNow. AMP Capital’s managing director Bevan Graham said: “This is a great outcome for our retail investors. As a well-regarded provider with over 19,000 customers, InvestNow is able to offer a comprehensive investment platform and online services for our clients, and is well placed to continue to meet the needs of direct investors in AMP Capital funds on a platform that is continuously evolving.” The transition to InvestNow’s platform will take effect from March 31, 2020.
InvestNow has experienced incredibly strong growth, January saw more than 1,500 people opening accounts, and assets on the platform growing by over $30 million. There are now more than 20,000 investors managing over NZ$450 million on InvestNow. These investors are mostly individuals and family trusts.
Last month, InvestNow announced their plan to launch the InvestNow KiwiSaver Scheme which will enable investors to select from a range of different investment manager funds. This will include diversified funds, as well as different managers’ sector funds and will include active, passive, and responsible investment fund options.
Finally, since our last update the following managers’ funds have been added to InvestNow:
- Mint Asset Management Diversified Growth.
- All 10 of Milford Asset Management’s PIE funds.
-> Fund Manager? If you want your fund to join our family of funds, please let us know.
-> Advisor, accountant or lawyer? We have a special ‘access’ type to enable you to instruct and act on your client’s money. Call us for more information.
Term Deposits on InvestNow – providing a range of banks’ term deposits ensuring you can always access competitive rates.
ANZ, BNZ, CCB, SBS Bank, and Heartland Bank all offer TDs on InvestNow.
Using InvestNow, you don’t need to have a bank account at one of these five banks to have a TD with them. You can choose TDs from any one of them, switch your money between the banks when you want, all without the need to visit the bank again. Gone are the days where investors need to open an account with every bank in town to get the best TD rate. With an InvestNow account investors can manage their TD investments all in one place and switch their money between banks. Easy.
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