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Synergy Investments launches PIE investment portfolios

Synergy Investments launches PIE investment portfolios

Consilium and Funds Administration New Zealand Limited (FANZ), joint venture partners in the Synergy Investment Programme, are pleased to announce the addition of four new portfolios – consisting of PIE funds and cash - to the popular Synergy Investment series from 1 April.

Until now, Synergy has offered a model portfolio mix of PIE and foreign investment funds. This created additional tax complexity for some investors. Now advisers will have the ability to choose between one of four PIE investment portfolios, nine traditional Synergy portfolios, or four socially responsible investing (SRI) portfolios.

Graham Duston, FANZ Executive Director said, “Some clients have very simple tax affairs and want the tax deducted at source. For them, a PIE solution works best. We frequently come across clients in this situation, so it was important for us to offer them a solution that best fits their needs.”

Scott Alman, Managing Director of Consilium, noted that simpler solutions can be smart solutions.

“Synergy has always been about making investment solutions simple for investors and their advisers, so advisers can focus on their unique value-adding services. By offering a PIE solution we are giving advisers the opportunity to better meet the needs of their clients.” said Mr Alman.

Since launching in 2015, Synergy has grown to approximately $250 million of assets under management and serves advisers throughout New Zealand.

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