Monday 27 May 2002
Bonus Bonds Records Phenomenal Response to ‘Million Dollar March’
Sales of Bonus Bonds increased by 270% in March thanks to a special promotion aimed at refreshing awareness of the unique Kiwi investment.
The Bonus Bonds ‘Million Dollar March’ promotion saw 95,000 Bonus Bonds sold in one month, a response ANZ, which markets the bonds, attributes to the first time offer of a $1 million prize draw.
The promotion gave anyone who purchased a Bonus Bond during March 2002 an entry into a draw to win a tax paid prize of $1,000,000. On Saturday (25 May), an Otago man selected one of 100 envelopes at one of ANZ Auckland’s bank vaults. One of the envelopes contained $1 million while the other 99 envelopes held $10,000. The man, who did not wish to be named, walked away with $10,000.
George Vice, head of product management at ANZ, says the promotion has been a huge success. “We never anticipated a response and sales increase of this level. However, the $1 million offer was obviously a highly attractive reason to invest in Bonus Bonds.” It was the biggest Bonus Bonds prize ever offered in its 32 year history.
“It would have been the icing on the cake if our winner had drawn the $1 million envelope but we believe he is still thrilled with his prize and had a great weekend.”
The promotion was held to increase public awareness of Bonus Bonds, underlining their unique properties as an investment option which combines the excitement of winning cash with the security that the funds can be withdrawn as any time. Bonus Bonds holders automatically go into a monthly draw to win cash prizes.
“Bonus Bonds are a heritage New Zealand investment and have been a quiet achiever for more than 32 years. However, we now believe it’s time to bring the brand into the 21st century. Watch this space,” George Vice says.
Bonus Bonds Background
Bonus Bonds is a trust fund where dividends are placed in a pool and distributed as prizes to those holders of Bonus Bonds that are selected, at random, in a monthly prize draw.
Ease of access is one factor that makes Bonus Bonds an attractive product for New Zealanders. The minimum starting investment is $20 and they can be bought from any ANZ branch, Postshop, Books & More store and by phone and mail order.