FundRock NZ Limited ("FundRock NZ") is licensed as a “manager of a registered scheme” under New Zealand’s Financial Market Conduct Act 2013 (FMC Act).
This enables us, through our Fund Hosting business, to issue and manage funds in NZ for:
- offshore investment managers who want to offer PIE-compliant funds to NZ investors, but don’t want to go through the licensing process themselves; and
- domestic investment managers who want to outsource the issuing and managing of their funds, so they can concentrate on investment management and distribution activities; and
- adviser and family office groups who want to create bespoke investment fund solutions as part of their investment proposition or to create economies of scale; and
- wholesale investors like superannuation schemes and tax exempt groups who want to create economies of scale and better portfolio outcomes by using funds to aggregate their investments with other like-minded investors.
Fund Hosting involves the issuing and managing of funds, under our MIS licence, on behalf of an investment manager who wants to provide NZ investors with access to their investment solutions in PIE funds.
Fund Hosting is suited to a wide range of clients, including domestic and international investment managers, KiwiSaver providers, private wealth/advice firms, family offices and specialist investment groups. Our expertise is in working with clients to deliver expert solutions to complex problems.
The Fund Hosting service offered by us is similar to the third party responsible entity services that are available within the Australian market.
The clients we manage PIE funds for include global investment managers like Russell Investments, Dimensional Fund Advisors, Franklin Templeton, Antipodes Partners, Coolabah Capital Investments, Hyperion Asset Management, First Sentier Investors and Stewart Investors, as well as local adviser businesses, specialist investment groups and family offices who use tailored PIE funds as part of their investment offering. We also manage the InvestNow KiwiSaver Scheme.
We work with global investment managers, and local boutiques, to provide Kiwi investors access to these managers’ solutions in funds that are Portfolio Investment Entities (PIE funds).
Investors should read the relevant Product Disclosure Statement (“PDS”) before investing. The PDS contains important information on the Funds managed by FundRock NZ Limited (“FundRock NZ”).
A copy of all PDSs has been lodged with the Registrar of Financial Service Providers and can be obtained from this website at Documents and Reporting or by visiting the Disclose website www.business.govt.nz/disclose.
The Manager and the Issuer of the Funds is FundRock NZ Limited, Level 2, Woodward House, 1 Woodward Street, Wellington.
Sitting within our existing Fund Hosting business, our offering also extends to Fund Execution services.
Fund Execution leverages off the expertise our team have in issuing and managing funds for clients as a ‘Fund Host’, but carry out these activities under the Fund Execution client’s MIS licence.
For those NZ-based managers looking to retain their MIS license, and ultimately issue funds under that license, our Fund Execution services allows them to outsource some of the pain points they may experience during fund establishment or ongoing operations.
Our team can assist at any point in the process, taking an embryotic fund idea and assisting a client to bring that fund to market, through to assisting a client with day to day operational and compliance matters (such as creating monthly fact sheets, preparing quarterly Fund Updates, maintaining scheme and offer documents, preparing Annual Reports or running daily cashflow processes and liquidity management).
The breadth of service offered to a Fund Execution client is very similar to that available to a Fund Hosting client, with the key difference being a Fund Execution client maintains their MIS license and the responsibility that goes along with this.
Using our Fund Execution services allows managers of any size to focus their time and effort on core value-add activities, while outsourcing more operational and compliance related activities to a proven expert in the area of issuing and managing PIE funds.
InvestNow, also a member of the Apex Group, is a leading digital retail investment platform enabling Kiwi investors to invest online in over 150 different managed funds from leading New Zealand and global fund managers.
In October 2020, InvestNow launched the InvestNow KiwiSaver Scheme which allows members to manage their retirement savings, with the ability to select investment funds from a range of Fund Managers all within a single KiwiSaver portfolio - a real game changer in NZ.
In addition, InvestNow offers bank Term Deposits to enable investment in multiple banks Term Deposits at the same time, all within a single InvestNow account.
The InvestNow team, have plans to add many more investment opportunities to the platform, so watch this space and enjoy being in control of your investing experience.
Link to https://investnow.co.nz/
Being part of Apex Group, our clients have access to the broadest range of industry solutions across the value chain from a single source.