Amanah KiwiSaver Plan
Amanah KiwiSaver Plan is a registered KiwiSaver scheme under the Financial Markets Conduct Act 2013. Amanah KiwiSaver Plan is designed to help you save for your retirement, while applying a number of ethical investment principles, allowing you to take responsibility for how your investing affects society.
How does it work?
Amanah KiwiSaver Plan has one KiwiSaver fund, Amanah Growth Fund, which invests in accordance with our ethical investment mandate. When you invest in Amanah KiwiSaver Plan, your contributions are used to buy units in Amanah Growth Fund. Each unit you buy will have a price calculated each day based on the value of Amanah Growth Fund's assets at the time. Changes in the value of Amanah Growth Fund's assets are reflected in the daily unit price.
who is involved?
AmanahNZ KiwiSaver Limited is the Manager of the Amanah KiwiSaver Plan. AmanahNZ KiwiSaver Limited is part of the Amanah Ethical group of companies, which trade as Amanah Ethical, and provide ethical investing solutions to both the New Zealand and International markets. The Supervisor for Amanah Kiwisaver Plan is Trustees Executors Limited. The Supervisor independently supervises how we manage Amanah KiwiSaver Plan, for the benefit of Scheme Members. The Supervisor also acts as Custodian, and their nominee company (TEA Custodians (AmanahNZ) Limited) holds the assets of Amanah KiwiSaver Plan separate to us, on behalf of the Supervisor.
How is Amanah KiwiSaver Plan different?
All KiwiSaver schemes are governed by a standard set of rules which cover such terms as eligibility to join, contributions and withdrawals. KiwiSaver schemes are regulated by the Financial Markets Authority and all KiwiSaver schemes are required to have fees that are reasonable.The main difference between KiwiSaver schemes is where they invest your contributions.
Our investment philosophy is based on the principles of active management and ethical investing. We consider having an Ethical Mandate, which restricts investing activities to permitted investments, as a method of providing transparency for Scheme Members and taking responsibility for how our investing affects society.
There are a number of ethical KiwiSaver funds currently available to New Zealanders; our difference is that Amanah KiwiSaver Plan not only screens potential investments for prohibited investment activities (examples include: alcohol, tobacco and defence/weapons), but also applies financial requirements which prohibit investments that deal with interest, are excessively uncertain/speculative and have high levels of debt. These restrictions also prevent us from leveraging (borrowing against) Scheme Members' savings or investing in derivatives and other complex, high-risk financial products.
We also have an Advisory Board which reviews and approves all investments as compliant with our Ethical Mandate to ensure that it is strictly applied to all investing activities.
You can find out more about our Ethical Mandate by following the link here.
Where does Amanah KiwiSaver Plan invest?
We have appointed Amanah Trust Management (NZ) Limited to manage the investments of Amanah Growth Fund, the investment fund of Amanah KiwiSaver Plan. Amanah Trust Management (NZ) Limited is also the parent company of AmanahNZ KiwiSaver Limited.
Amanah Growth Fund’s investment objective is to increase the rate of average annual return to scheme members over the long-term, while strictly complying with the restrictions of the Scheme’s Ethical Mandate (find out more about the Ethical Mandate here). This means that while the value of your investment may rise and fall in the short-term due to market volatility or currency fluctuations, we focus on achieving steady investment gains in the long-term, which, dependent on your investment horizon (time until retirement) is usually many years.
The Amanah Growth Fund’s primary investment is currently units in AmanahNZ, a managed investment scheme which applies the same Ethical Mandate as the Scheme and is managed by Amanah Trust Management (NZ) Limited. The Amanah Growth Fund purchases units in AmanahNZ with funds received from member contributions. Amanah Growth Fund may also hold cash (New Zealand dollars).
The main investment of Amanah Growth Fund, AmanahNZ, invests in up to 50 international equities which comply with our Ethical Mandate and are listed on approved U.S. exchanges (NYSE, NYSE MKT or NASDAQ). AmanahNZ may also hold cash (U.S. dollars) in its portfolio. You can find out further information about AmanahNZ here.
How do I join?
You can join the Amanah KiwiSaver Plan by providing us with a completed application form from the back of the Amanah KiwiSaver Plan Product Disclosure Statement (available here), along with the required supporting identity documents.
If you are already a member of another KiwiSaver scheme, we will arrange to transfer your investment to the Amanah KiwiSaver Plan. If you have any questions or would like further information, please contact us:
Phone: 0800 4 262624 (0800 4 AMANAH)