Online direct funds service InvestNow has scheduled eight new products to join the platform over the next few weeks.
Mike Heath, InvestNow general manager, said the funds would allow direct investors to tap into mainstream products offered by two of New Zealand’s largest fund managers, ANZ Investments and Nikko Asset Management.
“Both ANZ and Nikko have credible and long-established investment operations in NZ covering both global and local markets as well as across multiple asset classes,” Heath said.
“Our rapidly growing client base – who have collectively invested well over $50 million on the platform to date – will appreciate the ability to access such well-known managers directly.”
The suite of Nikko products due to join InvestNow includes the:
- Core Equity Fund
- Concentrated Equity Fund
- NZ Bond Fund
- NZ Corporate Bond Fund
- Global Bond Fund; and the,
- NZ Cash Fund
Meanwhile, ANZ will list two products offered under its OneAnswer brand: the Balanced and International Share funds.
The InvestNow platform already hosts most of the well-known NZ funds management names – such as AMP Capital, Devon, Fisher, Harbour, Mint and Salt – as well as global providers Russell and Vanguard. The recently-launched Hunter Investment Management – which currently offers a NZ-domiciled version of a PIMCO global fixed income product – is also available on InvestNow.
Heath said the group expected to add a steady flow of new managers and funds over the coming months starting with the Smartshares range of exchange-traded funds (ETFs) slated for August.
InvestNow does not charge clients any transaction or administration fees.
“We’re continually being approached by managers keen to join InvestNow,” he said. “We’re also fielding lots of requests from clients who want to see us include their favourite funds on the platform.”
However, Heath said all potential funds and managers were subject to an extensive due diligence process before listing on InvestNow.
“All parties have to be assured there is mutual value in adding new products to the platform,” he said.