National Bank Managed Investment Funds are an easy and efficient way to diversify your investments and are intended for medium to long-term investment.

The Funds are Unit Trusts, which means your money is pooled with that of other investors. Pooling of money with other investors gives you access to investment opportunities that you may not have the opportunity to invest in directly.

There are five multi-sector investment funds: the Conservative Fund; the Conservative Balanced Fund; the Balanced Fund; the Balanced Growth Fund; and the Growth Fund.

Features

• A diversified investment mix - your money is invested in a wide range of assets, both here in New Zealand and overseas, which are managed by a team of professional investment managers.
• Access to growth assets - like shares and property, to potentially enhance the return on your investment.
• $25.00 per fortnight (minimum) regular investment requirement - makes it an affordable long term regular investment if you don’t have a lump sum to invest, e.g. for additional retirement savings.
• It's a Portfolio Investment Entity, so tax is paid at your elected Prescribed Investor Rate to a maximum of 28%*.

* The taxation treatment of Portfolio Investment Entities is covered in the National Bank Managed Investment Funds Investment Statement.

There are five National Bank Managed Investment Funds (“Funds”) to choose from, investing in different investment sectors (i.e. cash, fixed interest, listed property and shares) in different proportions, therefore generating different levels of risk and return.

Conservative Fund

Invests principally in cash and fixed interest investments, with a lesser exposure to growth assets such as shares and listed property.

Conservative Balanced Fund

Invests principally in cash and fixed interest investments, with a moderate exposure to growth assets such as shares and listed property.

Balanced Fund

Invests principally in shares and fixed interest with a lesser exposure to listed property and cash.

Balanced Growth Fund

Invests principally in growth assets such as shares and listed property, with a moderate exposure to cash and fixed interest investments.

Growth Fund

Invests principally in growth assets such as shares and listed property, with a lesser exposure to cash and fixed interest investments.

A description of each Fund and its benchmark allocation to each asset class is set out in the National Bank Managed Investment Funds Investment Statement, available by contacting Wealth Direct on 0800 629 325. View the current benchmarks and ranges of each of the Funds and the actual asset class allocations of each of the Funds.

See up to date unit prices or compare past performance returns of all the Funds.

There are no entry, exit or switching fees for any of the National Bank Managed Investment Funds

The current Trustee fee is 0.047% p.a. and is calculated on the gross asset value of each fund on each valuation day and paid quarterly in arrears. The Manager charges a management fee for investment management and other functions. This fee is set out in the table below and is calculated on the gross asset value of each Fund on each valuation day and paid monthly in arrears.

Payment of these fees: The management fee, trustee fee and expenses are met by way of deduction from investment income and assets, and are reflected in the unit prices of the relevant Funds. Any fees and expenses charged by these Funds will affect returns to the Funds’ investors. Where any fee or expense incurred by a Fund is subject to GST, that GST will be charged and will also be an expense of that Fund. GST is currently charged on 10% of the management fee and 75% of the trustee fee. GST will not be charged on switching fees (if any) but will be added to other fees or charges if applicable.

For further information on how and when these fees are charged, and the expenses payable, please see the National Bank Managed Investment Funds Investment Statement (available from Wealth Direct on 0800 629 325). Terms defined and references construed in this web page have the same meaning and construction set out in the current Investment Statement.

OnePath (NZ) Limited may alter the fees set out above and introduce new fees from time to time.

You can apply to invest in the National Bank Managed Investment Funds by requesting a copy of the National Bank Managed Investment Funds Investment Statement (which includes the application form) through our Wealth Direct team on 0800 629 325.