The Foundation Series US 500 Fund (the Fund) is a Portfolio Investment Entity (PIE) offered as part of the Foundation Series Funds managed investment scheme. FundRock NZ Limited is the issuer and manager of the Fund. The Fund is registered as an offer within a managed investment scheme under the Financial Markets Conduct Act 2013 and is regulated by the Financial Markets Authority (FMA).
The Fund aims for high long-run returns by investing in an underlying exchange traded fund (ETF) that provides exposure to shares of the largest companies listed on stock markets in the United States. The Fund is managed with the objective of performing broadly in line with its investment benchmark before fees and tax over the long term.
InvestNow Saving and Investment Service Limited (InvestNow) is the investment manager of the Fund. InvestNow is responsible for defining the Fund's investment mandate and selecting the underlying investment solution.
Investment Manager
InvestNow Saving and Investment Service Limited
Investment Policy and Objectives
The Fund aims for high long-run returns by investing in an underlying exchange traded fund that provides exposure to shares of the largest companies listed on stock markets in the United States.
Its objective is to perform broadly in line with the return of the Morningstar US Target Market Exposure TR NZD Index before fees and tax over the long term.
Investment Strategy
The Fund invests in United States equities through an underlying exchange traded fund selected by InvestNow. The Fund uses a low-cost passive investment approach designed to provide broad exposure to shares of large companies listed on stock markets in the United States.
The Fund's investment approach is based on the following principles:
Broad diversification across companies can help reduce individual security risk.
A passive investment approach seeks to provide efficient exposure to the market.
Long-term investment returns are primarily driven by market performance.
Maintaining exposure to a diversified portfolio helps support long-term investment objectives.
Costs are an important consideration, as fees reduce investor returns.
The Fund is managed with the objective of performing broadly in line with its benchmark over the long term.
Benchmark
The investment benchmark for the Fund is the Morningstar US Target Market Exposure TR NZD Index.
Minimum Investment Timeframe
7+ Years
Minimum Investment Timeframe
7+ Years.
Further Information
Fund updates for previous quarters are available on the Disclose Register. Choose ‘Search for an offer’ and search for ‘Foundation Series Funds’ as the Offer name at https://disclose-register.companiesoffice.govt.nz.
