AmanahNZ - An Ethical Investment Scheme
what is AmanahNZ?
AmanahNZ is a registered managed investment scheme under the Financial Markets Conduct Act 2013. AmanahNZ is a U.S. dollar denominated investment, which invests in accordance with its Ethical Mandate.
The Manager of AmanahNZ is Amanah Trust Management (NZ) Limited. We are supervised in this role by a licensed supervisor, Trustees Executors Limited. The terms of agreement in operating AmanahNZ are outlined in a Trust Deed between us, as the Manager, and the Supervisor. The Supervisor is responsible for ensuring that AmanahNZ’s assets are held in accordance with Relevant Law. TEA Custodians (AmanahNZ) Limited, a custodial company of the Supervisor, holds all assets in its name.
The objective of AmanahNZ is to increase the rate of average annual return to investors over the long-term, while complying with the confines of AmanahNZ’s Ethical Mandate. As Manager, our aim is to protect the value for all investors in times of volatility, while maximising gains in times of growth.
What are the benefits?
Ethical Mandate: AmanahNZ has an Ethical Mandate, which restricts investing activities to permitted investments, as a method of providing transparency for investors and taking responsibility for how our investing affects society. For more information on our Ethical Mandate, please view the link here.
Professional Management: Using a professional investment manager simplifies the investing process for you, especially if you do not have the time or skill to manage your own investments and keep appropriate records.
Transparency: Our Ethical Mandate limits where we can invest - up to 50 U.S. listed stock that comply with our Ethical Mandate or cash (U.S. dollars) - no complex or high-risk financial products! All our current investments are listed online here, so you know exactly where your money is being invested.
Diversification and Liquidity: Pooling your money with other investors enables you to invest in a spread of assets that promotes diversification with the aim of reducing the risk of your investment portfolio. It also gives you access to investment markets that you may not have otherwise been able to invest in. AmanahNZ has no outside borrowings and is invested in readily traded stocks or cash, enabling us to repay investors when required.
Supervision: Trustees Executors Limited, established in 1881, is our Supervisor and holds all assets at all times separate from us in its custodial company. The Supervisor is responsible for monitoring our performance as Manager, and compliance with our Ethical Mandate. All fees and expenses are paid on approval of the Supervisor.
Tax benefits: AmanahNZ is a porfolio investment entity (PIE) and international investors can elect to be zero-rated for New Zealand tax.
how does it work?
Investing is open to:
Individuals (including joint investors)
Trusts or Partnerships
Incorporated societies or associations
You can begin investing in AmanahNZ by completing the application form (and providing the supporting documents) at the back of the Product Disclosure Statement (available for download here), or you may contact us for further information (email@example.com) or 0800 4 AMANAH (0800 4 262624).
There is no minimum amount to invest, and you may invest in either New Zealand or U.S. dollars. AmanahNZ is U.S. dollar denominated, and any money received from investors in New Zealand dollars will be converted to U.S. dollars (at the conversion rate applicable at the time) and deposited in AmanahNZ’s U.S. dollar bank account. Where investor money is deposited in New Zealand dollars, the Manager has the discretion to delay conversion to U.S. dollars (and therefore issuing of units) in order to pool investor money for currency transactions.
Units in AmanahNZ
The money you invest into AmanahNZ buys you units in AmanahNZ. Each unit that you own is a share in the total value of what AmanahNZ is worth. As the value of AmanahNZ’s assets go up and down so too does the value of your units. Each unit has an equal interest in a fund as all the other units and the same unit price.
Each unit has an equal interest in all assets of AmanahNZ and not in any particular asset. This means you are not able to request that we transfer to you an asset of AmanahNZ.
AmanahNZ may issue more units as investors invest money into AmanahNZ and redeem units as investors withdraw money from AmanahNZ. There is no maximum to the number of units in AmanahNZ.
Withdrawing your Investment
You can redeem your investment in AmanahNZ at the end of each quarter (31 January, 30 April, 31 July and 31 October), provided that you provide us with one month’s written notice with a completed withdrawal form at least one month prior to the redemption date (available here).
Your investment in AmanahNZ can be sold, but there is no established market for trading these financial products. This means that you may not be able to find a buyer for your investment. We can assist with the sale of your investment (if requested) but we are unable to guarantee that buyers will be available when you wish to sell.
There is no guarantee by the Manager, the Supervisor or any other entity in respect of the returns or future performance of AmanahNZ.