InvestNow Update – June 2020

Introducing InvestNow’s KiwiSaver offering

Earlier this year InvestNow announced plans to launch the InvestNow KiwiSaver Scheme.  This Scheme will enable investors to choose between a wide range of managers’ funds to construct their KiwiSaver portfolios. Investment options will include diversified funds, as well as different managers’ sector funds – including active, passive, and responsible investment fund options.

This is a unique opportunity for many investment managers to access a section of the market they may not otherwise be able to access, being the fast-growing KiwiSaver market.  Currently there is approximately $60 billion of assets held by almost 3 million KiwiSaver members, which is forecast to grow to $200 billion in the next 10 years.

Contact the InvestNow team if you would like to see your funds added to the InvestNow KiwiSaver Scheme’s manager line-up.

Busy start in 2020 for InvestNow

InvestNow has experienced incredibly strong growth in 2020 with a couple of big milestones hit in recent months.  April saw record numbers of investors opening accounts, with an all-time high of over 2,000 people opening accounts.  In May, InvestNow broke through the $500 million of assets mark.

So now there are now more than 24,000 investors managing over NZ$530 million on InvestNow.  These investors include individuals, family trusts, charities, and businesses.

In February, AMP Capital announced they were 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 took effect on 31 March 2020.

The following managers’ funds have also recently been added to InvestNow’s line up:

  • Mint Asset Management’s Diversified Growth Fund.
  • All 10 of Milford Asset Management’s PIE funds.
  • The Pie Growth UK & Europe Fund.
  • All Smartshares’ ETFs are also available now on InvestNow.
  • Join InvestNow here: investnow.co.nz
  • Fund Manager? If you want to add your fund to our family of funds, or be on our KiwiSaver manager line-up, please let us know.
  • Advisor, accountant or lawyer? Investors can link their adviser and key stakeholders like their accountant or lawyer to their portfolios.  Call us for more information.

InvestNow bank term deposits update

InvestNow currently offers term deposits from ANZ, BNZ, CCB, SBS Bank, and Heartland Bank, with an additional bank set to join this line-up in the coming weeks.

This enables InvestNow clients to select term deposits from any combination of these banks, without having to go through joining each and every one of them.  This streamlines the process by removing the need to do multiple AML checks, plus simplifies reporting and administration for investors.

With an InvestNow account, investors can manage all their bank term deposits in one place, plus easily switch their money between different banks’ offerings.  Easy!

Did you know you can get commentary and market updates from various managers delivered to your inbox?  This is a one-stop-shop for all the top research from local and offshore mangers.  No need to subscribe to emails from every manager anymore.

If you’re an investment manager, you can reach the InvestNow retail audience by getting your research on these two communications.  Contact the InvestNow team to discuss the benefits and for more information.