Investment Statement 22 September 2015
Personal
Managed Funds
Investment decisions
are very important.
They often have long-term
consequences. Read all
documents carefully. Ask
questions. Seek advice before
committing yourself.
Important Information
Choosing an Investment
The Financial Markets Authority regulates conduct in financial markets
When deciding whether to invest,
consider carefully the answers to the
following questions that can be found
on the pages noted below:
The Financial Markets Authority regulates conduct in New Zealand’s financial markets.
The Financial Markets Authority’s main objective is to promote and facilitate the
development of fair, efficient, and transparent financial markets.
Page
What sort of investment is this?
1
Who is involved in providing
it for me?
8
How much do I pay?
9
What are the charges?
10
What returns will I get?
11
What are my risks?
13
Can the investment be altered?
17
How do I cash in my investment? 19
Who do I contact with inquiries
about my investment?
20
Is there anyone to whom I can
complain if I have problems with the
investment?
20
What other information can I obtain
about this investment?
21
In addition to the information in this
document, important information can
be found in the current registered
prospectus for the investment. You
are entitled to a copy of that
prospectus on request.
(The information in this section is required under the Securities Act 1978).
For more information about investing, go to http://www.fma.govt.nz
Financial advisers can help you make investment decisions
Using a financial adviser cannot prevent you from losing money, but it should be able to
help you make better investment decisions.
Financial advisers are regulated by the Financial Markets Authority to varying levels,
depending on the type of adviser and the nature of the services they provide. Some
financial advisers are only allowed to provide advice on a limited range of products.
When seeking or receiving financial advice, you should check–– the type of adviser you are dealing with:
–– the services the adviser can provide you with:
–– the products the adviser can advise you on.
A financial adviser who provides you with personalised financial adviser services
may be required to give you a disclosure statement covering these and other matters. You
should ask your adviser about how he or she is paid and any conflicts of interest he or she
may have.
Financial advisers must have a complaints process in place and they, or the financial
services provider they work for, must belong to a dispute resolution scheme if they provide
services to retail clients. So if there is a dispute over an investment, you can ask someone
independent to resolve it.
Most financial advisers, or the financial services provider they work for, must also be
registered on the financial service providers register. You can search for information about
registered financial service providers at http://www.fspr.govt.nz
You can also complain to the Financial Markets Authority if you have concerns about the
behaviour of a financial adviser.
A disclosure statement is available from your adviser, on request and free of charge.
This is an Investment Statement for the purposes of the Securities Act 1978.
There is a registered prospectus containing the offer of securities to which this Investment
Statement relates.
Pursuant to the transitional provisions of the Financial Markets Conduct Act 2013,
the Securities Act 1978 and the Unit Trusts Act 1960, amongst others, continue to apply
to the offer of securities contained in this Investment Statement.
1. What sort of investment is this?
The Personal Managed Funds range comprise four unit trusts (Balanced Fund, Active Growth Fund, International
Bond Trust and International Equity Trust), collectively known as the “Funds” and individually as a “Fund”.
The Balanced Fund and the Active Growth Fund are multi-sector funds. This means that each of these Funds has
exposure to more than one investment sector, thereby reducing your exposure to the risks of any one sector as the
different investment sectors react differently to changing economic and market conditions. These Funds invest in a
range of assets including cash, domestic and international shares, bonds and property along with global
infrastructure, emerging markets and global commodities (either directly or by investment in other funds or pooled
investment schemes).
The International Bond Trust and International Equity Trust are single-sector funds, which means they each
primarily have exposure to a single investment sector, international bonds or shares respectively. This means that
the performance of any of these particular Funds should largely reflect the characteristics of the particular
investment sector over time.
The Funds are known as “pooled or collective” investments, because the contributions of many investors are
grouped together so each investor can benefit from greater investment diversity than would be possible as a typical
individual investor.
By investing into a Fund you buy “units” in that Fund – the more money you invest, the more units that are
purchased. Subject to minimum investment requirements, units may be purchased by lump sum, regular
contributions or a combination of both. As at the date of this Investment Statement, the manager of the Funds,
AMP Wealth Management New Zealand Limited (the “Manager”), is not accepting applications for investments in
the Funds other than from investors that are currently invested in that particular fund.
These Funds are only available for investment from within New Zealand. Please note that requests to either
switch Funds, commence regular contributions, or make lump sum investments will not be accepted from outside
of New Zealand.
For a more detailed description of each of the Funds, please refer to the following pages.
The Manager is conducting a review of securities offered to the public by the Manager, including the Funds. The
review, when it is concluded, may result in a rationalisation of the Funds. Any changes to the Funds that will have a
material impact on your investment will be communicated to you if and when they occur in accordance with the
Trust Deeds.
1
Active Growth Fund
Designed to provide investors with capital growth of their savings over the medium to long-term, by investing
in an actively managed range of investment sectors that are weighted towards growth assets.
Investment Strategy
The Fund currently provides investors with exposure through the wholesale unit trust(s) to a range of domestic and
international investment sectors that include a low to moderate exposure to cash and bonds and a moderate to
high exposure to growth assets such as shares. The income and growth investment ranges within which the assets
should be invested and the income and growth benchmark asset allocations are set out below. The ranges and
benchmarks are agreed from time-to-time by the Manager and the Trustee. The exposure between investment
sectors can be varied to take advantage of perceived stronger opportunities as they arise. Actual holdings may
deviate from the benchmark noted below. To ascertain the ranges or current exposure at any particular time,
please contact the Manager on 0800 081 081.
The Trust has income and growth investment ranges within which its assets should be invested. As at the date of
this Investment Statement, the ranges in effect are as set out below together with the income and growth
benchmark asset allocations.
Income/Growth Benchmarks
(and permitted ranges)
Income 40% (20%-60%)/ Growth 60% (40%-80%)
The Trust has asset class benchmarks and, as at the date of this Investment Statement, these benchmark asset
allocations are set out below.
Asset Class
Benchmark
Income Assets
New Zealand Money Market
10.0%
New Zealand Fixed Interest
15.0%
International Fixed Interest
15.0%
Growth Assets
Property
7.0%
Global Infrastructure
4.0%
Australasian Equities
15.0%
International Equities
26.5%
Emerging Markets
4.5%
Global Commodities
3.0%
As at the date of this Investment Statement, the policy of the Manager is to fully hedge foreign currency exposure
for all asset classes, with the exception of Emerging Markets, where currency exposure is unhedged, and
Australasian and International Equities where currency exposure is actively managed.
Please note these currency policies may change from time-to-time without notice. Details of the current currency
policies can be obtained by contacting the Manager.
Personal Managed Funds Investment Statement
2
What are the risks associated with this strategy?
In exchange for seeking the potential for higher returns than traditional cash investments, you need to accept a
higher degree of risk.
While you are invested in this Fund the value of your investment is likely to fluctuate. This may result in you
experiencing a negative return from time-to-time. There is a risk that upon your withdrawal from the Fund, the
amount redeemed will be less than the amount of your original investment, with this risk being accentuated if you
invest for a short period of time.
Fund Summary
Entry fee:*
Nil.
Early withdrawal fee:*
1% of the amount withdrawn or $200 (whichever is the lower) if you make a withdrawal
within two years of commencing your investment in this Fund. This fee does not currently
apply to withdrawals by way of switches into another Fund or Funds.
Management fee:*
1.75% p.a. of the Fund’s average daily gross asset value (plus goods and services tax of
15% (“GST”) on 10% of the management fee). Inland Revenue is reviewing the portion
of the management fee of unit trusts to be charged with GST and this may change in the
future without notice.
Trustee fee:*
0.065% p.a. of the Fund’s average daily gross asset value (plus GST).
Switching fee:*
A switching fee will only apply where the switch is into a Fund with a higher entry fee, in
which case the fee will be the difference between the entry fees.
Taxation policy:
The Fund is currently taxed like a company. All taxable income earned by the Fund
is taxed at 28%.
Assets invested in:
Wholesale unit trusts that provide exposure to domestic and international
investment sectors.
Potential return variability:
Medium-high.
* The Manager and/or Trustee can vary the current fees or impose fees from time-to-time.
Please refer to “What are the charges?” for further information on fees and costs.
3
Balanced Fund
Designed to provide investors with capital growth of their savings over the medium to long-term, by investing in an
actively managed balanced range of investment sectors.
Investment Strategy
The Fund currently provides investors with exposure through the wholesale unit trust(s) to a range of domestic and
international investment sectors that include cash, bonds, shares, property, infrastructure, emerging markets and
global equities. Set out below are the income and growth investment ranges within which the assets should be
invested and the income and growth benchmark asset allocations. The ranges and benchmarks are agreed from
time-to-time by the Manager and the Trustee. Actual holdings may deviate from the benchmark noted below. To
ascertain the ranges or current exposure at any particular time, please contact the Manager on 0800 081 081.
The Trust has income and growth investment ranges within which its assets should be invested. As at the date of
this investment statement, the ranges in effect are as set out below together with the income and growth
benchmark asset allocations.
Income/Growth Benchmarks
(and permitted ranges)
Income 60% (40%-80%)/ Growth 40% (20%-60%)
The Trust has asset class benchmarks and, as at the date of this Investment Statement, these benchmark asset
allocations are set out below.
Asset Class
Benchmark
Income Assets
New Zealand Money Market
18.0%
New Zealand Fixed Interest
21.0%
International Fixed Interest
21.0%
Growth Assets
Property
5.5%
Global Infrastructure
3.0%
Australasian Equities
9.5%
International Equities
16.5%
Emerging Markets
3.0%
Global Commodities
2.5%
As at the date of this Investment Statement, the policy of the Manager is to fully hedge foreign currency exposure
for all asset classes, with the exception of Emerging Markets, where currency exposure is unhedged, and
Australasian and International Equities where currency exposure is actively managed.
Please note the currency policy may change from time-to-time without notice. Details of the current currency policy
for the Fund can be obtained by contacting the Manager.
Personal Managed Funds Investment Statement
4
What are the risks associated with this strategy?
In exchange for seeking the potential for higher returns than cash investments, you accept a higher degree of risk.
While you are invested in this Fund the value of your investment is likely to fluctuate. This may result in you
experiencing a negative return from time-to-time. There is a risk that upon your withdrawal from the Fund, the
amount redeemed will be less than the amount of your original investment, with this risk being accentuated if you
invest for a short period of time.
Fund Summary
Entry fee:*
Nil.
Early withdrawal fee:*
1% of the amount withdrawn or $200 (whichever is the lower) if you make a withdrawal
within two years of commencing your investment in this Fund. This fee does not currently
apply to withdrawals by way of switches into another Fund or Funds.
Management fee:*
1.75% p.a. of the Fund’s average daily gross asset value (plus GST on 10%
of the management fee). Inland Revenue is reviewing the portion of the management fee
of unit trusts to be charged with GST and this may change in the future without notice.
Trustee fee:*
0.065% p.a. of the Fund’s average daily gross asset value (plus GST).
Switching fee:*
A switching fee will only apply where the switch is into a Fund with a higher entry fee, in
which case the fee will be the difference between the entry fees.
Taxation policy:
The Fund is currently taxed like a company. All taxable income earned by the Fund
is taxed at 28%.
Assets invested in:
Wholesale unit trusts that provide exposure to domestic and international
investment sectors.
Potential return variability:
Medium.
* The Manager and/or Trustee can vary the current fees or impose fees from time-to-time.
Please refer to “What are the charges?” for further information on fees and costs.
5
International Bond Trust
Designed to provide investors with moderate capital growth, by investing indirectly in an actively managed,
diversified portfolio of selected international fixed interest investments.
Investment Strategy
The Fund currently provides investors with exposure to a selection of long-term international fixed interest
securities. Through the wholesale unit trust(s), the Fund’s international fixed interest exposure may be achieved
through investment primarily in medium and long dated government and other debt securities in established bond
markets outside New Zealand with the aim to generate strong income over the medium term. The Fund’s currency
exposure is generally fully hedged back to the New Zealand dollar. Please note the currency policy may change
from time-to-time without notice. Details of the current currency policy for the Fund can be obtained by contacting
the Manager.
What are the risks associated with this strategy?
Investing in international bond investments with some actively managed currency exposure carries a risk that the
value of your investment may fall, particularly in the short-term if interest rates are rising and/or there are adverse
foreign currency exchange rate movements.
While you are invested in this Fund the value of your investment is likely to fluctuate. This may result in you
experiencing a negative return from time-to-time. There is a risk that upon your withdrawal from the Fund, the
amount redeemed will be less than the amount of your original investment, with this risk being accentuated if you
invest for a short period of time.
Fund Summary
Entry fee:*
Up to 3% of the amount of each contribution made.
Early withdrawal fee:*
Nil.
Management fee:*
1.25% p.a. of the Fund’s average daily gross asset value (plus GST on 10%
of the management fee). Inland Revenue is reviewing the portion of the management fee
of unit trusts to be charged with GST and this may change in the future without notice.
Trustee fee:*
0.065% p.a. of the Fund’s average daily gross asset value (plus GST).
Switching fee:*
A switching fee will only apply where the switch is into a Fund with a higher entry fee, in
which case the fee will be the difference between the entry fees.
Taxation policy:
The Fund is currently taxed like a company. All taxable income earned by the Fund
is taxed at 28%.
Assets invested in:
Wholesale unit trusts that provide exposure to international bond investments.
Potential return variability:
Low–medium.
* The Manager and/or Trustee can vary the current fees or impose fees from time-to-time.
Please refer to “What are the charges?” for further information on fees and costs.
Personal Managed Funds Investment Statement
6
International Equity Trust
Designed to provide investors with capital growth, by investing indirectly in an actively managed, diversified
portfolio of international shares.
Investment Strategy
The Fund currently provides investors with exposure to a selection of shares issued by companies listed on
sharemarkets around the globe. Through wholesale unit trust(s), the Fund’s equity exposure may be achieved
through investment in (amongst others) shares, depository receipts, warrants and other participation rights.
Under normal circumstances, the Fund’s currency exposure will not be hedged back to the New Zealand dollar.
Please note the currency policy for the Fund may change from time-to-time without notice. Details of the current
currency policy can be obtained by contacting the Manager.
What are the risks associated with this strategy?
In exchange for seeking the potential for higher long-term returns from an exposure to international shares, you
need to accept a higher degree of risk. Investing in unhedged international shares means that you are exposed to
both market and currency risk.
While you are invested in this Fund the value of your investment is likely to fluctuate. This may result in you
experiencing a negative return from time-to-time. There is a risk that upon your withdrawal from the Fund, the
amount redeemed will be less than the amount of your original investment, with this risk being accentuated if you
invest for a short period of time
Fund Summary
Entry fee:*
Up to 5% of the amount of each contribution made.
Early withdrawal fee:*
Nil.
Management fee:*
1.50% p.a. of the Fund’s average daily gross asset value (plus GST on 10%
of the management fee). Inland Revenue is reviewing the portion of the management fee
of unit trusts to be charged with GST and this may change in the future without notice.
Trustee fee:*
0.065% pa of the Fund’s average daily gross asset value (plus GST).
Switching fee:*
A switching fee will only apply where the switch is into a Fund with a higher entry fee, in
which case the fee will be the difference between the entry fees.
Taxation policy:
The Fund is currently taxed like a company. All taxable income earned by the Fund
is taxed at 28%.
Assets invested in:
Wholesale unit trusts that provide exposure to international shares.
Potential return variability:
High.
* The Manager and/or Trustee can vary the current fees or impose fees from time-to-time.
Please refer to “What are the charges?” for further information on fees and costs.
7
2. Who is involved in providing it for me?
The Manager of the Funds is AMP Wealth Management New Zealand Limited whose address is Level 21 AMP Centre, 29
Customs Street West, Auckland, 1010, telephone 0800 081 081, facsimile 04 470 6380. The Manager is ultimately
owned by AMP Limited. As at the date of this Investment Statement, the directors of the Manager are Anthony George
Regan, Therese Mary Singleton, Simon John Hoole, Gregory Paul Bird and Elaine Jennifer Campbell. The address of the
Manager and the directors of the Manager may change from time to time without notice. You can obtain the current
address and names of the directors of the Manager at any time by calling 0800 081 081.
The Manager has delegated the administration functions of the Funds to AMP Services (NZ) Limited (“AMP Services”)
as an administration manager for the Funds. AMP Services is a related company of the Manager.
AMP Services, and any of its directors who are not also directors of the Manager, are the promoters of the Funds.
Currently, the directors of AMP Services are also all directors of the Manager and therefore not promoters, but the
directors may change from time to time without notice. The address of AMP Services, which may change from time to
time without notice, is:
Level 21, AMP Centre, 29 Customs Street West, PO Box 55, Shortland Street, Auckland 1140.
You can obtain the updated address of the promoter(s), and the names of the directors of AMP Services who are
promoters (if any), at any time by calling 0800 081 081.
As at the date of this Investment Statement the trustee of the Funds is Public Trust whose address is 40-42 Queens
Drive, Lower Hutt, 6135. The address of Public Trust may change from time to time without notice. You can obtain the
current address of Public Trust at any time by calling 0800 371 471.
As at the date of this Investment Statement, it is intended that The New Zealand Guardian Trust Company Limited
(“NZGT”) will replace Public Trust as the trustee of the Funds with effect in December 2015. Accordingly, any
reference in this Investment Statement to the “Trustee” is a reference to the trustee of the Funds at the relevant
time. The address of NZGT, which may change from time to time without notice is Level 14, 191 Queen Street,
Auckland 1010. You can obtain the current address of NZGT at any time by calling 0800 878 782.
For more information about the change of trustee you can contact the Manager on 0800 081 081.
The Funds offered under this Investment Statement are:
–– the Active Growth Fund, a unit trust that was established by a Trust Deed dated 18 March 1994
and invests in a range of assets that includes cash, domestic and international shares, bonds,
and property, along with global infrastructure, emerging markets and global commodities;
–– the Balanced Fund, a unit trust that was established by a Trust Deed dated 16 September 1987
and invests in a range of assets that includes cash, domestic and international shares, bonds,
and property, along with global infrastructure, emerging markets and global commodities;
–– the International Bond Trust, a unit trust that was established by a Trust Deed dated 25 March 1988
and invests primarily in an actively managed portfolio of selected international bond investments;
–– the International Equity Trust, a unit trust that was established by a Trust Deed dated 16 September 1987
and invests primarily in an actively managed portfolio of selected international shares.
As at the date of this Investment Statement, the assets of the Funds are invested through a range of wholesale
unit trusts developed and managed by AMP Capital Investors (New Zealand) Limited (“AMP Capital”). The Manager
is part of a group of AMP entities in New Zealand known as AMP Financial Services (“AFS”). The Manager through
the AFS Investment Committee (“Committee”), seeks advice and recommendations from AMP Capital about
matters concerning the investment management of the Funds and the underlying wholesale unit trusts into
which the Funds invest, including whether or not to add or remove an underlying fund manager and asset
allocation decisions.
Investments in the Funds are subject to varying degrees of investment risk including possible loss of income or
principal invested. The performance of or returns from the Funds and the underlying wholesale unit trusts into
which the Funds invest, or the repayment of capital, is not guaranteed (in full or in part) by the Manager, AFS, the
Trustee or any other parties (including the New Zealand Government).
Personal Managed Funds Investment Statement
8
What is the Independent Trustee’s Role?
The Trustee’s role is to monitor whether the Manager has managed the Funds in accordance with the provisions of
the Trust Deeds and the offer of units in the relevant Fund.
The Trustee does not guarantee the performance or returns of the Funds, or the repayment of capital.
Should I consider investing in more than one Fund?
The choice of Funds allows you to construct a portfolio that matches your risk/return profile by selecting individual
Funds, or a combination of Funds. Your Financial Adviser will guide you in the selection of Funds that match your
risk/return profile.
3. How much do I pay?
As long as you meet the minimum requirements from time-to-time for a regular contribution or for a lump
sum contribution, the decision is entirely over to you. At the date of this Investment Statement, the minimum
regular and lump sum contributions are:
Regular (per unitholder)
Lump Sum
Weekly $50
Initial* $1,000
Fortnightly $100
Additional (per Fund) $500
Monthly $200
Quarterly $600
Annually $2,400
* The minimum initial lump sum contribution in any one Fund is $1,000.
The Manager may decline applications for units for any reason, including where the application does not meet
these required minimums. As small holdings of units can be uneconomic to administer, if your investment in any
Fund is below the current minimum balance level of $1,000 per Fund, the Manager may purchase your remaining
units in that Fund in accordance with the relevant Trust Deed. This will not apply while you are contributing
regularly to the Funds or if your regular contributions are temporarily suspended (for up to
six months).
When investing into the Funds you pay the “unit price” for each unit you purchase:
The unit price is calculated on each business day by totalling the market value of each Fund’s assets and
deducting liabilities (including incurred or accrued fees, expenses and tax). The resulting value is divided
by the number of units on issue in the particular Fund to give that day’s unit price.
Regular contributions can be made by direct debit to the Manager. Lump sum contributions can be made by
cheque made payable to “AMP Wealth Management New Zealand Limited” and marked “not transferable” with
reference to “or bearer” crossed out, and sent to the Manager at the address listed in the directory on page 23 of
this Investment Statement.
9
4. What are the charges?
The charges vary between Funds. At the date of this Investment Statement the fees payable in respect
of each Fund are detailed below.
Fees payable to any custodian, manager or trustee of a collective investment vehicle in which the assets
of a Fund are invested (whether directly or indirectly) may be payable out of those assets. As at the date of this
Investment Statement, the Funds primarily invest through wholesale unit trusts developed by AMP Investment
Management (N.Z.) Limited (“AMPIM”) and managed by AMP Capital, which are related companies of the Manager
and AMP Services. NZGT is the trustee of those wholesale unit trusts and also receives fees for those services.
In the event that a Fund is terminated, the Trustee is entitled to be paid a fee of 0.5% (or another agreed amount)
of the gross asset value of the Fund at the date of termination.
The Trust Deeds governing the Funds allow the Manager and/or Trustee to vary the current fees or impose fees
from time-to-time in accordance with the Trust Deeds.
Fund Name
Management Fee 1
Entry Fee
(deducted from the
amount of each
contribution made)
Early Withdrawal
Fee
Trustee Fee 3
Balanced Fund
1.75% p.a.
0%
1% or $200 2
0.065% p.a.
Active Growth Fund
1.75% p.a.
0%
1% or $200 0.065% p.a.
International Bond Trust
1.25% p.a.
Up to 3%
0%
0.065% p.a.
International Equity Trust
1.50% p.a.
Up to 5%
0%
0.065% p.a.
2
A switching fee will apply where the switch is into a Fund with a higher entry fee, in which case the fee
will be the difference between the entry fees.
Various expenses may be incurred by the Funds (including indirectly because of expenses incurred by the
underlying funds into which the Funds’ assets are invested) from time to time and these will be reflected
in the unit price of the Funds concerned.
These expenses may include fees charged to the Manager by third parties (including, amongst other things, certain
costs of running the Funds, such as the cost of maintaining unit holder registers, accounting, audit requirements
and regulatory compliance costs, and the payment of custodian fees and expenses).
The Manager has delegated the administration functions of the Funds to AMP Services as an administration
manager for the Funds. AMP Services is a related company of the Manager. The Manager will pay out of the
Manager’s fee the administration manager’s costs that relate to the functions that are covered by the Manager’s
fee. Costs charged by the administration manager to the Manager that relate to functions that are not covered by
the Manager’s fee will be recovered by the Manager out of the Funds as an expense of the Funds. There is no limit
on the amount of these expenses.
Any reimbursement made will be reflected in the unit price of the Fund concerned and therefore will affect the
relevant Fund’s return. These costs and expenses are reported in the Funds’ audited financial statements that are
available at amp.co.nz.
1
The management fee is calculated as a percentage of the Fund’s average daily Gross Asset Value and is paid to the Manager out
of the assets of each Fund. In addition to the management fee, GST is payable on 10% of the amount of the management fee.
Inland Revenue is reviewing the portion of the management fee of unit trusts to be charged with GST and this may change in the future
without notice.
2
If you make a withdrawal from this Fund within two years of commencing your investment in the Fund (including an early withdrawal
following a switch into the Fund), an early withdrawal fee of 1% of the amount withdrawn or $200 (whichever is the lower) will be
deducted from the proceeds of the withdrawal and paid to the Manager (unless you became an investor in any of the Funds through
a financial intermediary, on or before 1 March 2001, and your unitholder account opened at that time remains open (whether or
not you have subsequently withdrawn your units), in which case you will not be charged an early withdrawal fee). At the date of this
Investment Statement, the early withdrawal fee does not apply to withdrawals from this Fund by way of a switch into another Fund or Funds.
3
The trustee fee is calculated as a percentage of the Fund’s average daily Gross Asset Value and is paid to the Trustee out of the
assets of each Fund. In addition to the trustee fee, GST is payable on the trustee fee.
Personal Managed Funds Investment Statement
10
5. What returns will I get?
The value of your investment in the Fund(s) will fluctuate during the lifetime of your investment. This may result in
you experiencing a negative return from time-to-time. There is a risk that upon your withdrawal from the Fund, the
amount redeemed will be less than the amount of your original investment, with this risk being accentuated if you
invest for a short period of time. Factors that may affect the performance of a Fund and that determine returns (if
any) include, amongst others, foreign currency exchange rate changes, national or international economic
developments, interest rate movements, the performance of the relevant investment sector, the performance of
individual investments within a Fund’s portfolio and investment management performance.
The Manager is the party legally liable to pay returns out of the assets of the Funds. No amount of returns is
promised or guaranteed (in full or in part) by the Manager, the Trustee or any other parties (including the
New Zealand Government).
Returns, if any, will be the change in the value of your investment. On each business day, the market value of each
Fund’s assets are determined. From this, liabilities (including incurred or accrued fees, expenses and tax) are
deducted. The resulting value is divided by the number of units on issue in the particular Fund to give a unit price.
This value includes any returns earned by each Fund and is the price at which you cash in your investment. As you
can withdraw from any of the Funds whenever you choose to, the dates or frequency with which returns will be due
and paid is unknown.
The Funds may also recognise the value of future benefits (deferred tax assets) on the basis that the Funds will, in
the future, generate investment gains to offset the losses. The Manager makes decisions from time-to-time as to
what proportion of tax assets should be included in unit prices, having regard to industry guidelines.
What income distributions are made?
No Fund currently makes income distributions. The Manager is entitled to change the policy and frequency
of distributions at any time.
How is my investment taxed?
The following description is intended to be by way of general guidance only and is based on the law as it is enacted
and interpreted as at the date of this Investment Statement. Tax legislation may change and the impact of taxation
will vary depending upon each person’s individual circumstances. Investors are encouraged to seek professional
tax advice. The Manager and the Trustee do not take any responsibility for the taxation liabilities of investors.
These Funds are not portfolio investment entities (“PIEs”) but they invest in PIEs and have applied a 0% prescribed
investor rate. Consequently they are taxed on their share of income from those PIEs.
Generally, assets are taxed as described below. The Funds may be directly or indirectly invested in some or all
of these:
Asset
Taxes on capital gains/
losses
Tax on dividends
and interest
‘Fair Dividend Rate’
method
New Zealand shares
No
Yes
No
Australian shares1
No
Yes
No
Global shares2
No
No
Yes
Yes
Yes
No
Cash, fixed interest, currency hedges and
other financial instruments
2
1 Australian shares – Must be listed on an approved Australian Securities Exchange (ASX) index and meet certain other technical criteria.
2 The Fair Dividend Rate (“FDR”) method calculates taxable income at 5% of the average daily opening market value of global share
investments for the relevant tax year. The FDR method is applied to Global Shares and to certain currency hedging instruments.
The tax rate applying to the income of the Funds is currently 28%.
11
How are withdrawals and switches taxed?
The Funds’ Trust Deeds provides two methods for processing withdrawals or switches from a Fund, Manager
Repurchase and Direct Redemption. The method applied by the Manager, at the Manager’s option, determines the
tax treatment of gains on your investment.
As at the date of this Investment Statement the Manager is generally applying the Manager Repurchase method to
withdrawals and switches. The Direct Redemption method to withdrawals and switches is available to investors on
request. The Manager might choose, at the Manager’s option and without notice, to apply the Direct Redemption
method in a future period.
Manager Repurchase Method
Under this method the Manager will buy your units from you.
Provided you are not treated as a ‘share trader’ (either as an individual or as a business, depending on how you
are investing), and did not buy the units as part of a business, and did not acquire the units for the dominant
purpose of resale, you should not be liable for tax on any capital gains on the units you have sold to the Manager.
This means that in normal circumstances you will not need to include any amounts received in your tax return.
Direct Redemption Method
Under this option your units are redeemed or sold directly to the relevant Fund.
Increases in the value of the units redeemed are generally treated as a taxable dividend and imputation credits
may be attached and Resident Withholding Tax (“RWT”) deducted from the amount paid to you by the Fund. If the
Direct Redemption method is applied to your withdrawal or switch, you will receive a Dividend Statement and if you
are required or choose to file a tax return, you should include the taxable dividend, imputation credits and/or RWT
deducted in that tax return. Tax will be payable on the Direct Redemption dividend at your marginal tax rate and
any excess imputation credits and RWT deducted can be used to offset tax payable on other income. Surplus
imputation credits can be carried forward and excess RWT is refundable.
At the date of this Investment Statement, no imputation credits will be attached to any Direct Redemptions from
the International Bond Trust and RWT will be deducted at 33% from the gross dividend portion of the amount
payable. At the date of this Investment Statement, 28% imputation credits will be attached to any Direct
Redemptions from other Funds and 5% RWT will be withheld on the gross dividend portion.
Suspension of Repurchase or Redemption of Units
The Manager may suspend the repurchase or redemption of units for a period not exceeding 30 days if it
determines that such repurchase or redemption:
–– is not practicable; or
–– would or may be materially prejudicial to the general interests of investors; or
–– is not desirable for the protection of the Fund.
The Manager must notify the Trustee of its intention to suspend any repurchase date prior to any such suspension
being imposed.
If in any three-month period an investor requests the Manager to repurchase or redeem more than 2% of the total
units of a Fund, and the Trustee and Manager agree it is in the best interests of all investors to defer
the redemption or repurchase of all the units, the Manager may elect to repurchase or redeem the units in
instalments over a period approved by the Trustee, or in total at the end of that period.
Personal Managed Funds Investment Statement
12
6. What are my risks?
Key risk factors
All investments carry risk. There are risks associated with the Funds that could affect your ability to recover the
amount of your investment, or impact on the level of return.
It is important to note that events affecting investments cannot always be foreseen. Underlying assets of the Funds
will rise and fall in value and returns may from time to time be negative. Please note that investments in the Funds
carry risk and we recommend that you read the entire Investment Statement (and the prospectus) to assess the
risk of investing in the Funds. Certain risks may also be linked (for example, a political event could lead to a
liquidity risk).
Depending on the length of time for which you have invested, it is possible that you may receive less than
the initial investment on withdrawal.
The principal risks that could affect the level of return from an investor’s investment through the Funds are
as follows:
Investment risk
Investment risk is the risk of negative or lower than expected returns from the Funds’ investments.
It is also possible that the returns for a particular Fund will be insufficient to meet its expenses.
Each investment sector has risks typical of that sector. As at the date of this Investment Statement,
the assets of the Funds are invested through a range of wholesale unit trusts developed by AMPIM and managed
by AMP Capital. AFS, taking into account recommendations and advice from AMP Capital, will make investment
management decisions for the Funds and the underlying wholesale unit trusts into which the Funds invest,
on behalf of the Manager.
Cash is suitable for short-term requirements, and as part of a diversified portfolio to balance more high-risk
investments. The main risk with cash is that inflation will erode value.
For any particular fixed interest security, changes to interest rates in the market affect its value and there
is the risk of the borrower not making the interest payments and/or not repaying the loan.
Some of the Funds may be invested in underlying investment funds which buy and sell international investments.
This means that currency movements may affect the investment performance of these Funds.
The value of an individual share is influenced by many factors including the performance of the relevant company,
market opinion and the economic performance of the country or sector.
Investments may be affected by movements in the general price level and demand and supply in
the market in which the underlying investments are made, the sectors in which the underlying investments
are made, economic and regulatory conditions (including market sentiment, inflation, interest rates and
employment), political events, environmental and technological issues, natural disaster, and consumer demand in
both New Zealand and overseas.
Within each Fund the underlying fund managers have their own approaches to picking which investments to buy or
sell. There will be times when market conditions result in a particular ‘style’ doing better than others and times when
it does not do as well. By having a range of fund managers, the effects of a particular manager under-performing
are lessened.
13
One way to look to reduce investment risks is by holding a wide range of different assets. The Balanced Fund and the
Active Growth Fund are (or will normally be) each indirectly invested across the range of investment sectors and a
number of fund managers to provide an exposure to all, or some of, global fixed interest, New Zealand fixed interest,
global shares, New Zealand shares, infrastructure, commodities and property. The International Bond Trust and
International Equity Trust each indirectly invest only in a single investment sector but in a range of investments within
that sector.
Within each sector there are many different assets held, so if a particular share does not perform, or a particular
borrower has difficulty making their repayments, that does not necessarily put the entire investment at risk.
Of course, it is still important that investors consider the recommendations of a financial adviser when deciding
how long to invest for. While holding a wide range of assets can substantially remove the risks around individual
holdings and fund managers, it is only ever possible to partially reduce the risks of market movements as a whole.
The Manager has a comprehensive compensation policy covering the payment of compensation in the event of any
error being made by the Manager or any fund manager. The aim of the compensation policy is to ensure that no
investor is materially disadvantaged if such an event occurs. Any such occurrence will be considered by the
Manager and dealt with in accordance with the compensation policy.
Derivatives
Some Funds and or underlying investment funds in which the Funds invest may use financial instruments known as
derivatives. A derivative is a financial contract the value of which depends on the current or future value of
underlying assets such as shares, bonds, currency or cash. Derivatives may be used for two main purposes: as a
risk management tool (particularly in managing market and currency risk) or as an alternative to investing in
physical assets by providing an exposure to an underlying investment which is similar to buying or selling the
assets. Each purpose carries associated risks as set out below.
Where derivatives are used in managing risks the derivative may not remove all exposure to risks that the financial
instrument is used to manage. The performance of derivatives in managing risk will vary depending on movements
in underlying variables, such as interest and foreign exchange rates, and the amount of the derivative relative to
underlying investments.
Where derivatives are used as an alternative to investing in physical assets the derivative will be subject
to investment risk. Investment risk is the risk of negative or lower than expected returns from the Funds
(refer to Investment risk). The performance of derivatives as an alternative to investing in physical assets
will vary depending on movements in underlying variables, such as interest and foreign exchange rates,
and the amount of the derivative relative to underlying investments.
A high degree of leverage is typical for trading in derivative instruments. As a result, a relatively small price
movement in any underlying security of a derivative contract may result in substantial gains or losses to the Funds.
The use of derivatives is also subject to counterparty risk, being the risk that a party to a financial contract
defaults, fails to complete transactions, becomes insolvent or is unable to meet its financial obligations or that
there is a dispute in relation to a contract (refer Counterparty risk).
The investment guidelines can only be altered by agreement between the Manager and the Trustee. The Manager
does not currently have any intention of seeking the agreement of the Trustee to extend the use of derivatives.
The Funds may also have exposure, through investments in the underlying wholesale unit trusts, to the use of
derivatives for the purposes of both managing risk and as an alternative to investing in physical assets.
Personal Managed Funds Investment Statement
14
Reduced value
The value of an investor’s investment is reflected in the unit prices of the units the investor holds, and is affected by:
–– the value of the assets of the relevant Fund(s) (which may vary as a consequence of the risks discussed above);
–– currency movements (in certain Fund(s));
–– any fees and expenses paid; and
–– any tax paid.
The value of your units can go up and down.
If the unit price when you sell your units is less than the unit price when you bought those units, your full initial
investment may not be recovered.
None of the Trustee, the Manager, any related company of the Trustee or the Manager or any director
of any of them, or any of the fund managers or any other person (including the New Zealand Government),
guarantees the performance of the Funds.
Any deferred tax asset reflected in a unit price would be lost on winding up of that Fund (refer to section 5 “What
returns will I get?” for further details relating to deferred tax assets).
Liquidity risk – suspension of withdrawals or switches and ceasing to issue units
‘Liquidity risk’ is the risk that the Funds cannot meet payments on time. This risk arises where there is a mismatch
between the maturity profile of investments and the amounts required to meet withdrawal requests.
If the Manager in good faith determines that to repurchase or redeem any units within the times set out in the
Trust Deeds is not practicable, or would or may be materially prejudicial to the general interests of unit holders of
the relevant Fund, or is not desirable for the protection of the relevant trust fund the Manager may suspend the
repurchase date for up to 30 days after receiving the repurchase request. The Manager shall notify the Trustee of
its intention to suspend any repurchase date prior to any such suspension being imposed.
The managers and/or trustees of the underlying wholesale unit trusts into which the Funds invest may suspend or defer
giving effect to withdrawal requests, applications or switches at their discretion (for an indefinite period of time in some
cases). This may in turn restrict your ability to withdraw (or transfer) from the Funds (or switch between Funds).
Regulatory and administration risk
Like any managed fund investment, investments made through the Funds are exposed to the risk of future
changes to tax or other legislation that could affect the operation of the Funds or the returns available.
There will also always be the risk of a technological or other failure or event affecting the Funds or the financial
markets in general. If that occurs, it may affect returns.
An underlying fund manager of a Fund may close its investment fund without notice or on limited notice, and this may
result in investments being held in cash pending the replacement of the underlying fund manager. Similarly, an underlying
fund manager may close its investment fund to new applications, resulting in investments also being held in cash.
Counterparty risk
‘Counterparty risk’ is the risk that a party to a contract (including an investment contract) defaults or
a third party fails to properly provide services for the Funds, or fails to complete transactions with fund managers,
or there is a dispute in relation to a contract, or that such a person becomes insolvent and
is placed into receivership, liquidation or statutory management or otherwise becomes unable to meet
its financial obligations. If this occurs, you may not recover the full amount of your investment in the Fund.
Credit risk
‘Credit risk’ is the risk that a borrower may default on their loan or is otherwise unable to meet their financial obligations.
The impact of this will be a reduction in the level of returns or the full amount of the investment not being recovered.
Borrowing
15
Subject to certain conditions the Trustee has the power to, and must if directed by the Manager to do so, borrow.
As at the date of this Investment Statement, there is no borrowing and no intention of borrowing except to provide
liquidity for the repayment or redemption of any units from time to time. Where borrowing has occurred in relation
to a Fund, the lender will have the right to demand payment from that Fund and if there are insufficient assets in
the Fund to repay the loan, the assets of another Fund cannot be used to meet the repayment.
Performance of the parties
Various parties will be involved in the operation of the Funds including the Manager, the Trustee, AMP Services (as the
administration manager appointed by the Manager) and from time to time underlying administration or fund
managers. If any of these parties fails to perform its obligations that could adversely affect unitholders of the Funds.
Suspension of processing application, redemptions and switches
As at the date of this Investment Statement, none of the Funds are offered for subscription, other than for existing
investors in any particular Fund. The effect of this is that you are not able to switch between the Funds unless you are
already a unit holder in the Fund that you wish to switch to. You may switch amounts to other Funds in which you are
already a unit holder as often as you wish.
The Manager may suspend giving effect to a switching request as set out above under Liquidity risk - suspension of
withdrawals or switches and ceasing to issue units.
Law changes
A number of aspects of the Funds reflect the terms of income tax legislation (and Government policy) as at the date
of this Investment Statement. The Trust Deeds were also prepared having regard to the securities and other
legislation governing unit trusts, as at the date when the Funds were established.
An example is the Financial Markets Conduct Act 2013, which fundamentally changes the laws that regulate the
governance and offering of unit trusts like the Funds and other managed investment vehicles in New Zealand. The
Act came into full force on 1 December 2014, subject to a two-year transition period. That transition period ends
on 30 November 2016, although the Manager may opt-in to the Financial Markets Conduct Act regime in respect of
the Funds prior to that date. For practical purposes, the law that applied prior to 1 December 2014 generally
continues to apply to the Funds during the transition period.
When legislation or Government policy changes, the Manager and the Trustee will cooperate to make such
amendments to the Trust Deeds, and such other changes to the administration of the Funds, as they may consider
necessary or desirable in light of those changes.
Insufficient imputation credits
If any Fund does not have sufficient imputation credits to impute to the maximum allowable ratio any dividend
arising at the time you make a withdrawal by the Direct Redemption method, or if the Fund is wound up, you may
have additional RWT deducted from the proceeds of your withdrawal or distribution entitlement upon winding up.
Currently the International Bond Trust is not attaching imputation credits to any dividends arising on redemption.
Consequences of insolvency and winding up of a Fund
In the unlikely event that a Fund becomes insolvent you will not be required to pay money to any person or the
Fund as a result of the insolvency.
If a Fund is put into liquidation or the Manager or the Trustee resolves to wind up a Fund, the costs and expenses
of liquidating or winding up will be paid from the relevant Fund before any money is distributed to investors. These
costs and expenses and other Fund liabilities, including any remuneration payable to the Trustee or Manager, rank
ahead of claims of investors if a Fund is put into liquidation or wound up. After the costs and expenses and other
Fund liabilities have been paid, any money remaining in the relevant Fund will be distributed to investors in
proportion to their respective holdings in the Fund. All investors’ claims on the assets of a Fund in which they hold
units rank equally with each other.
Any deferred tax asset reflected in the unit price of a Fund will not be available in the event that the Fund is
liquidated or wound up.
Personal Managed Funds Investment Statement
16
7. Can the investment be altered?
As at the date of this Investment Statement, none of the Funds are offered for subscription, other than for existing
investors in any particular Fund. The effect of this is that you are not able to switch between the Funds, or make
contributions, unless you are already a unit holder in the Fund that you wish to switch or contribute to.
a) By You?
You may do the following (subject to minimum contribution, withdrawal, eligibility, and balance requirements –
please refer to “How do I cash in my investment?” and the paragraph above):
–– alter the amount of regular contributions;
–– change the frequency of your regular contributions;
–– make one-off lump sum contributions;
–– stop and start regular contributions at any time;
–– switch your investment between Funds; and
–– withdraw all or part of your investment.
For details on entry fees for each contribution made and any early withdrawal fees or switching fees which
may apply please refer to “What are the charges?” Please note that a switch is processed as a withdrawal of
units from one Fund and a new application for units in another.
Our Telephone Transaction Service (see below) allows you to alter your investment as described above (apart
from making lump sum contributions) simply by calling toll free on 0800 081 081.
It is important to note that where any additional lump sum, withdrawal or switch request is accepted before
5.00pm on any business day (being a business day in Wellington, New Zealand), it is the valuation which takes
effect after 5.00pm that day that is used to determine the price at which requests will be actioned. Any
request received after 5.00pm on any business day will be valued at the valuation determined on the next
business day.
b) By the Manager?
The Manager may also alter the terms of the investment by altering minimum investment, balance and
withdrawal amounts and increasing or imposing fees in accordance with the Trust Deeds. In certain
circumstances the Manager and the Trustee may alter the Trust Deeds. The circumstances are explained more
fully in the current registered prospectus for the Funds, and include if the Trustee is of the opinion the
amendment is formal or technical or if the amendment is approved at a meeting of the investors.
The Manager, with the agreement of the Trustee, may vary the definition of authorised investments in the Trust
Deeds for the Funds by giving investors 30 days’ notice (unless investors holding not less than 10% of units in
the relevant Fund give notice stating their intention to call a meeting of investors).
The Manager will tell you, and all other investors in the Fund, where to find a summary of any amendments
made to the Trust Deeds governing the Funds when the Fund’s financial statements are available online
(please refer to “What other information can I obtain about this investment?”).
If you invest through a custodian, nominee or trustee (for example, through an administration systems
provider), then that custodian, nominee or trustee may agree with the Manager amendments to the terms and
conditions of your investment. You will be bound by those amendments.
The investment objectives and policies of the Funds may be changed by agreement between the Manager and
the Trustee. You will receive notice of any such change to the investment objectives and policies of a Fund or
the Funds in which you invest within 21 days of the change occurring.
The underlying fund managers may change from time to time at the Manager’s discretion. You will not be
notified of those changes, but you can obtain details of the current underlying fund managers by calling the
Manager. The Committee, which makes investment decisions for the Funds on behalf of the Manager, seeks
advice and recommendations from AMP Capital about matters concerning the investment management
of the Funds and the underlying wholesale unit trusts into which the Funds invest.
17
What is the Telephone Transaction Service?
All investors, including investors that hold their units in joint names, have the option to access the Telephone
Transaction Service and will be issued with a Personal Identification Number (“PIN”). Your PIN will be issued within
seven business days of your application being processed. Joint investors will only be issued with one PIN. Any one
of the joint investors will be able to use that PIN to give instructions using the Telephone Transaction Service. You
can choose whether or not to access the Telephone Transaction Service on the Application Form. If you do not
show your preference the Manager will assume you wish to use the Telephone Transaction Service.
When you wish to switch between Funds, change the amount of your regular contributions or withdraw some or all
of your investment, you simply contact a Customer Services Representative toll free on 0800 081 081 and quote
your PIN. This service is designed to make altering your investment quick and easy. For joint investors who elect to
access the Telephone Transaction Service, any owner can use any part of this service without reference to the
other. Any withdrawal made through the Telephone Transaction Service will only be paid to the bank account
nominated by all joint investors. The nominated bank account cannot be changed using the Telephone Transaction
Service. Written instructions of all joint investors are required to change the nominated bank account.
Should you lose your PIN another can be issued by calling toll free on 0800 081 081. Please note that it may take
up to seven business days until you receive a replacement PIN sent to your nominated address. In the meantime
you can alter your investment using the Change Request Form or Withdrawal Form (available from your Financial
Adviser) and returning it to the Manager.
Personal Managed Funds Investment Statement
18
8. How do I cash in my investment?
You may cash in your investment or switch between Funds, provided you meet the minimum contribution,
withdrawal and balance levels set by the Manager from time-to-time and, in the case of a switch, the Fund
into which you wish to switch is open to you for investment. At the date of this Investment Statement, the minimum
amount that may be withdrawn (or switched) at any one time is $500, the minimum remaining investment level
(also known as the minimum balance level) in any one Fund as a result of a withdrawal or switch is $1,000 and the
minimum contribution amounts are as stated under “How much do I pay?”.
If you make a full or partial withdrawal from the Balanced Fund or Active Growth Fund within two years of
commencing your investment in that Fund, you may be charged an early withdrawal fee of 1% of the amount
withdrawn or $200 (whichever is the lower). See “What are the charges?” for further details.
As small holdings of units can be uneconomic to administer, if an investor’s unit holding in a Fund is below $1,000
the Manager has the right to purchase their units in that Fund in accordance with the relevant Trust Deed. This will
not apply while you are contributing regularly to the Fund, or if your contributions are temporarily suspended (for up
to six months).
You can perform a withdrawal or switch by using the Telephone Transaction Service or by completing a
Change Request Form or Withdrawal Form (available from your Financial Adviser) and returning it to the Manager.
For details on any early withdrawal fees or switching fees that may apply please refer to “What are the charges?”.
We only pay to nominated NZD bank accounts, domiciled in New Zealand, other than in exceptional circumstances.
In normal circumstances the Manager will make payment of the proceeds to you within seven days and no later
than 15 days upon receipt of your request. In special circumstances the Manager may (subject to prior notice and/
or approval of the Trustee) suspend or delay the withdrawal or switch obligation for up to 30 days (please refer to
“What returns will I get?”).
The Trust Deeds provide a choice of two methods when withdrawing or switching units, Manager Repurchase and
Direct Redemption (please refer to “What returns will I get?”), which have different tax implications.
You are able to sell your holdings in a Fund to another existing unit holder. To do so you will need to complete a
Transfer Form which is available from the Manager on request. In the Manager’s opinion, there is no established
market for selling your investment in a Fund to any person other than the Manager.
Regular Withdrawal Option
For the International Bond Trust you can elect to use the Regular Withdrawal option to have some of your
investment in the Fund cashed in and paid to you on a regular basis. You can select between monthly, quarterly or
six-monthly withdrawals. The minimum amount per regular withdrawal is $250 and the minimum remaining
investment level in any one Fund after a withdrawal is $1,000. These will be processed on, or as close as possible
to, the 15th of the month.
19
9. Who do I contact with inquiries about my investment?
You can talk with your Financial Adviser. Alternatively you may write to the Manager at Level 21, AMP Centre, 29
Customs Street West, PO Box 55, Shortland Street, Auckland 1140 or contact Customer Services between 8.30
am and 5.00 pm on any business day by calling toll free on 0800 081 081.
10.Is there anyone to whom I can complain if I have problems
with the investment?
If you have any problems or complaints please contact a Customer Services Representative toll free on
0800 081 081 between 8.30 am and 5.00 pm on any business day or at:
AMP Wealth Management New Zealand Limited
Level 21, AMP Centre
29 Customs Street West
PO Box 55
Shortland Street
Auckland 1140
Facsimile: (04) 470 6380
Email: askus@amp.co.nz
You can also contact the Trustee at:
Until December 2015:
Public Trust
Corporate Trustee Services
Ground Floor New Zealand Rugby House
100 Molesworth Street
Wellington 6011
Phone: 0800 371 471
From December 2015:
The Relationship Manager, Corporate Trusts
The New Zealand Guardian Trust Company Limited
Level 2, Dimension Data House
99 - 105 Customhouse Quay
PO Box 3845
Wellington 6140
Phone: 04 901 5406 or 0800 878 782
If either the Manager or the Trustee are unable to resolve your complaint, you may contact their external dispute
resolution schemes. These schemes are available at no cost to you and may be able to help resolve any disagreements.
The Manager is a member of an approved,
independent, dispute resolution scheme
operated by the Insurance & Savings Ombudsman.*
The Ombudsman may be contacted at:
Office of the Insurance & Savings Ombudsman
Level 11, Classic House
15-17 Murphy Street
PO Box 10845
Wellington 6143
Phone: (04) 499 7612 or 0800 888 202
Fax: (04) 499 7614
Email: info@ifso.nz
Website: www.ifso.nz
*
Public Trust and NZGT are both members of an
approved, independent, dispute resolution scheme
operated by Financial Services Complaints Limited.
Financial Services Complaints Limited may be
contacted at:
Financial Services Complaints Limited
Level 4
101 Lambton Quay
PO Box 5967
Wellington 6011
Phone: 0800 347 257
Fax: 04 472 3728
Email: info@fscl.org.nz
Website: www.fscl.org.nz
Effective 1 November 2015, the Insurance & Savings Ombudsman Scheme is changing its name to the Insurance & Financial Services Ombudsman Scheme
Personal Managed Funds Investment Statement
20
11.What other information can I obtain about this investment?
Prospectus and Financial Statements
Other important information about the Funds referred to in this Investment Statement can be found in
the current registered prospectus for the Funds (which contains an offer in respect of the securities referred to in
this Investment Statement) and in the financial statements of the Funds. A copy of the current registered
prospectus and the most recent financial statements of the Funds can be obtained free of charge from
the Manager.
The current registered prospectus, the financial statements, and other documents relating to the Funds
are also filed on a public register at the Companies Office of the Ministry of Business, Innovation, and Employment
and available for public inspection (including at www.business.govt.nz/companies).
Annual information
As an investor you will also receive on an annual basis a notice letting you know when the audited financial
statements for the Funds and a summary of any amendments to the Trust Deeds during that year are
available online.
In addition to the annual information, investors will also receive on a six monthly basis:
–– a six monthly transaction statement detailing your transactions and the balance of your investment; and
–– a six monthly Investor Report updating the performance of the Funds.
On request information
You can obtain the following information free of charge by calling a Customer Services Representative in Wellington
on 0800 081 081 between the hours of 8.30am and 5.00pm:
–– A transaction statement and balance of your investment;
–– A copy of the most recent prospectus and any associated documents;
–– A copy of the most recent financial statements of the Funds and any associated documents; and
–– A copy of the most recent investment statement.
In addition, you can also obtain a copy of the relevant Trust Deeds for the Funds for which a reasonable
fee may be charged.
21
Personal Information Rights Statement
1. This statement relates to information about you which you are now providing to your Financial Adviser, the
Trustee and the Manager or which your Financial Adviser, the Trustee, the Manager or any associated company
of any of them (each being a “recipient”) may hold now or in the future (“personal information”).
2. Each recipient will ensure that the personal information it receives is held securely and will not disclose it to any
person not referred to in this statement, except for the purpose of providing services in connection with your
investment and any other purpose referred to in this statement or which has been authorised by you or when
required or authorised by law.
3. The Privacy Act 1993 gives you the right to access and request correction of the personal information.
4. The personal information will be used primarily to provide you products and services and to further the
relationship between you and any recipient. This includes the provision of any products or services of a recipient
which it is considered may be of interest to you. In the case of your Financial Adviser, personal information may
be released in respect of your investment in any Fund. If you do not wish to be sent marketing material you may
elect not to receive it by contacting your Financial Adviser or the Manager.
5. In order that a recipient may seek your views on its existing and proposed products and services,
relevant information may be provided to reputable market research organisations subject to a strict
confidentiality agreement.
Personal Managed Funds Investment Statement
22
Directory
Manager
AMP Wealth Management New Zealand Limited
Level 21 AMP Centre
29 Customs Street West
Auckland 1010
New Zealand
Telephone: 0800 081 081
Directors of the Manager
Anthony George Regan, of Auckland
Therese Mary Singleton, of Auckland
Simon John Hoole, of Auckland
Gregory Paul Bird, of Auckland
Elaine Jennifer Campbell, of Auckland
The contact address of all Directors is
C/- the Manager at the above address
The address of both the Manager and the
Directors, and the Directors themselves,
may change from time to time.
Promoter and administration manager
AMP Services (NZ) Limited
Level 21 AMP Centre
29 Customs Street West
Auckland 1010
New Zealand
The address of AMP Services may change
from time to time.
Trustee
Until December 2015:
Public Trust
40-42 Queens Drive
Lower Hutt 6135
New Zealand
From December 2015:
The New Zealand Guardian Trust Company Limited
Level 14, 191 Queen Street
Auckland 1010
New Zealand
The address of the Trustee may change
from time to time.
23
Personal Managed Funds Investment Statement
24
Contact us
amp.co.nz
A disclosure statement is available from your financial adviser, on request and free of charge.
AMP Wealth Management New Zealand Limited
Level 21 AMP Centre, 29 Customs Street West
PO Box 55 Shortland Street, Auckland 1140
WEL459109 09/15
For more information about this and other products and services,
call your financial adviser or contact us on
0800 081 081.