Investment funds and superannuation

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Regulators and investors expect superior performance from the investment management industry. We’ll help you exceed those expectations.

Our top ranked funds management team is experienced in establishing and advising clients across a range of asset and industry sectors. We have strong industry understanding, relationships, and extensive experience in all classes of managed investment schemes.

We are regarded as opinion makers on new regulatory and market developments affecting the managed funds sectors, such as the Financial Markets Conduct Act (FMCA), the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act), and the Financial Markets Authority’s (FMA) proposed guidance on disclosure. 

We are experts at establishing and advising many types of retail collective investment schemes. We advise on KiwiSaver and other superannuation schemes, unit trusts (including PIE funds), group investment funds, corporate vehicles, limited partnerships, wrap accounts and discretionary investment management schemes, life products, and other savings and investment products, such as debt securities. We also help retail funds with all relevant securities laws, including drafting and reviewing prospectuses (including renewals), investment statements, website and promotional material.

We have market-leading expertise in structuring private equity and venture capital (PE/VC) funds, as well as other alternative asset vehicles, including hedge funds, property funds, forestry schemes, and marinas.
We help clients identify and solve cross-border issues, like the extension of Australian investment product offers into New Zealand, either under the trans-Tasman mutual recognition of securities offerings regime or exemption notices issued by the FMA.

The team at MinterEllisonRuddWatts has a breadth of experience in investment funds that is second to none in New Zealand. We use MinterEllisonRuddWatts for the difficult and high-profile work, where we know that we will get sound, commercial advice. The Legal 500 Asia Pacific 2023


Recent highlights 
Sale of Aon NZ retirement savings business

Advising Aon NZ on the sale of its $1 billion FUM retirement savings business (including Aon KiwiSaver) to Fisher Funds including transfer of shares in AonSaver Limited and Superannuation Nominees Limited and the assignment and/or novation of relevant contracts.

Transfer of ASB Group Investments’ management of the Superannuation Master Trust

Advising ASB’s fund manager subsidiary, ASBGI, on the transfer to NZX subsidiary SmartShares Limited of the management rights of the ASB Superannuation Master Trust. The Trust includes more than $1.8 billion in retirement savings from more than 17,500 members across more than 100 employer groups. The transaction involved the assignment and/or novation of relevant contracts, as well as compliance with the FMCA and FMA approvals.

Closing and winding up of Bonus Bonds

Assisting ANZ Bank with the closure and winding up of the iconic $3.2 billion Bonus Bonds managed investment scheme. The transaction required strategic advice on a wide range of legal, governance and reputational issues, as well as liaison with the FMA and the supervisor.

Milford funds

Advising Milford Asset Management over many years with its award-winning funds management and financial advice business, including KiwiSaver assets, which continues to grow to over $87 billion. This has included transitioning seven Milford Unit Trust PIE Funds, three Milford KiwiSaver Scheme funds and eight Milford wholesale funds to the FMCA regime, establishing multiple new funds subsequently, assisting with disclosure documents, regulatory advice, and assisting with the transition to the new financial advisers regime.

Generate funds

Advising Generate Asset Management over many years on its flagship KiwiSaver product and the development of new unit trust managed business.

Pie Funds

Advising Pie Funds on its retail managed funds, financial advice services and the development and launch of its Juno KiwiSaver scheme.

Financial services M&A

Acting for sellers and buyers of financial services businesses including the sale by Westpac of its wealth advisory business to Forsyth Barr, and for Macquarie Asset Management on its purchase of AMP Capital’s global equity and fixed income (GEFI) business in New Zealand, including assistance with due diligence, sale documentation and financial regulatory matters 

Retail investment funds

Day-to-day regulatory advice and launch of new products (including new KiwiSaver and other unit trust funds) for retail fund managers including Generate, PIE Funds and others. Developed and helped launch Squirrel’s retail unit trust offering. Acting for numerous Australian fund managers offerings into New Zealand under the trans-Tasman Mutual Recognition of Securities Offers (MRSO) regime, including DFA, Magellan, Metrics and others.

Private equity and venture capital (PE/VC) funds

Structuring and establishment of wholesale only limited partnership funds for managers including Pioneer Capital, Icehouse Ventures, Nuance Capital, Continuity Capital, Movac, Better Bite, Alt Ventures, Milford Private Equity, Origin Capital, Pacific Channel, New Ground Capital. Also advised other managers on investment terms and group structures.