Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Expand your Wealth - Westpac Investment Product

Expand your Wealth.

Today, Westpac launches another in its series of capital return investments. Expand IV is the fourth in a series of similar investment opportunities that provide investors with the opportunity to have returns linked to international sharemarkets, while ensuring that a customer will at least get their initial deposit (capital) returned at maturity. In addition, this version offers a minimum 10% bonus return if the investment is held to maturity.

“Our customers have been asking us for more investment choices so we have looked for a better way" says Ben Elliott, Head of Wealth distribution

Expand IV offers an alternative way for customers to gain exposure to growth assets to diversify their portfolio but also minimises risk.

Expand IV is a six-year investment opportunity with Westpac, however the returns are linked to the performance of a basket global sharemarkets indexes (US, Europe, UK and Japan) on an equal weighted basis.

“At maturity, investors receive back their original investment plus 100% of any increase in the value of the basket of international sharemarket indexes to which the return on the product is linked.

“In addition, Expand IV offers a pre tax Bonus Return of 10% of the original amount they invested. The product offers investors an alternative risk and return equation whereby while the total return may not be as high as investing in international shares directly, investors have the comfort of knowing that they will at least get their original investment back plus a pre tax bonus return of 10% of the amount they invested.

“This provides some comfort to investors that should the basket of sharemarket indexes to which the return on the product is linked not rise over the investment period that they will receive some return. Plus, because the investment and returns are denominated in New Zealand dollars there is no exposure to currency changes whilst still investing in off-shore markets,” says Ben.

“At Westpac we are keen for all our customers to succeed financially. Being successful with finances isn’t just about earning money – it’s about what you do with it.”

Applications for Expand IV commence on 4 October 2004 and interest is paid on all applications up to 5 November 2004. The closing date for Expand IV is 12 November 2004. The minimum investment NZ$10,000.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Digitl: Bumper year ahead for NZ IT sector

Gartner says New Zealand spending on technology products and services will grow 7.4 percent this year. The company’s latest forecast says the market will total NZ$15.3 billion in 2022... More>>



Fonterra: Lifts Forecast Farmgate Milk Price Range

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS. This increases the midpoint of the range, which farmers are paid off... More>>

Federated Farmers: NAIT Levy Increases Must Achieve Accurate, User-friendly System
Nobody welcomes extra costs but if OSPRI is to catch-up on under investment in the NAIT platform and deliver on its workability and farmer support, levy increases are probably necessary, Federated Farmers says... More>>



Skoltech: Study Probes Earth’s Turbulent Past To Explain Where Oceans Came From

The origin of water on our planet is a hot question: Water has immense implications for plate tectonics, climate, the origin of life on Earth, and potential habitability of other Earth-like planets. In a recent study in Physical Review Letters, a Skoltech professor and his Chinese colleagues suggest... More>>


Statistics: Household Net Worth Grows In The September 2021 Quarter But At A Slower Pace Compared To March 2021

Household net worth grew by $60.7 billion in the September 2021 quarter compared with the June 2021 quarter, Stats NZ said today. This represents an increase of 2.5 percent, a similar result to the June 2021 quarter, which was up $60.6 billion or 2.6 percent... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>