NZ’s first on-line international wrap service

Media release
Embargoed until 6.00am 31 October 2000

AMP launches NZ’s first on-line international wrap service

AMP today launched InvestorNet, New Zealand’s first internet wrap service, direct to investors. Making it the only company in New Zealand to offer international investing over
the internet.

Through InvestorNet, investors with a minimum of $20,000 can buy and sell units in Henderson Investors’ UK funds as well as AMP’s hugely successful passive international fund, WiNZ.

AMP General Manager John Drabble said the launch of InvestorNet is a “significant first” for New Zealand investors. “There is a growing understanding that to build financial security investors need to diversify, and for long term savings, putting a significant proportion of investment capital offshore will spread risk. Recent changes to the Securities Act have simplified the requirements for investment in UK funds. These changes, coupled with InvestorNet, mean that accessing overseas funds is far simpler and more cost-effective than ever.”

“This is a very clever way to invest. People who choose to manage their own portfolios can now easily access funds that would normally only be available at a wholesale level. In addition, they have an up-to-the-minute view of those investments. An added advantage is that the funds of many investors are consolidated, so lower fees can be negotiated and currency purchased at wholesale rates.

“Over time we’ll be working to make other funds and features available.

“Of course, many investors prefer to invest in these funds through an AMP Adviser or their broker. I would certainly encourage anyone unfamiliar with managing their investments to continue to seek advice to ensure their risk is spread appropriately. Our Advisers have been using InvestorNet with their clients over the past month. We are delighted with the results to date, over $25 million has been invested through Investornet”, Mr Drabble said.

As well as providing on-line access to a range of diverse international investments, customers using InvestorNet can obtain consolidated investment reports and monitor their investments.

InvestorNet is at www.ampinvestornet.co.nz. AMP Financial Services and AMP Henderson worked with Microsoft to develop InvestorNet. AMP already offers on-line banking as well as life and house and contents insurance.

End

Note to Editor:

A ‘wrap service” enables consolidated viewing of a range of investments from a range of providers.
Entry fees are up to 5%, payable on each new investment, but not on changes to the overall portfolio mix. Administration fees will vary for each fund. There is no exit fee.

The Henderson Investors’ funds are: Henderson International Fund, Henderson Overseas Bond Fund, Henderson UK Capital Growth Fund, Henderson Pacific Capital Growth Fund (formerly Asian Enterprise Fund), Henderson Japan Capital Growth Fund, Henderson European Capital Growth Fund, Henderson Global Technology Fund, Henderson Ethical Fund and Henderson North America Fund.

For more information contact:

John Drabble Suzanne Carter
General Manager Profile and Communications
AMP Financial Services Telephone: 04 498 8612
Telephone: 04 498 8652 Mobile: 025 577 786
Mobile: 021 649 409

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