New managed funds increase options for retail investors

14 November 2011

New managed funds increase options for retail investors

Retail investors now have increased access to Australasian equities and property, as well as New Zealand fixed-interest funds, with two new investment managers being added to RaboDirect’s online managed funds platform.

The online savings and investment channel of Rabobank, RaboDirect, today announced that Harbour Asset Management and Mint Asset Management are joining its stable of fund providers, allowing access to investment expertise and experience that has previously been available to predominantly wholesale investors.

The two New Zealand-based fund managers offer Australasian equities with flexibility across both Australian and New Zealand markets. Harbour Asset Management also offers New Zealand fixed-interest funds, while Mint Asset Management gives investors exposure to Australasian listed property and other property-related shares.

“We are always reviewing our managed funds platform to make sure we’re providing our customers with a good range of funds and staying up-to-date with what’s happening in the market,” says Michael Courtney, Business Development Executive, Managed Funds, RaboDirect.

The five new registered PIE funds RaboDirect will offer are*: Harbour NZ Corporate Bond Fund; Harbour NZ Core Fixed Interest Fund; Harbour Australasian Equity Fund; Mint Australia New Zealand Active Equity Trust; and Mint Australia New Zealand Real Estate Investment Trust.

No RaboDirect entry fee will apply to these five funds until 12.30pm on 30 December 2011 (normal RaboDirect entry fee is 0.75%).

Harbour Asset Management is independently monitored by Trustees Executors Limited and T.E.A Custodians Limited is the custodian of the funds’ assets.

New Zealand Permanent Trust, a subsidiary of Public Trust, is the independent trustee for Mint Asset Management funds, which are administered by MMC Limited.

ENDS

© Scoop Media