Premium Investments - AMP Personal Unit Trust

72 Pages·2015·1.43 MB·English

Investment Statement 1 December 2015
Premium
Investments - AMP
Personal Unit Trust
Important The Financial Markets Authority regulates
conduct in financial markets
The Financial Markets Authority regulates conduct in New
information
Zealand’s financial markets. The Financial Markets Authority’s
main objective is to promote and facilitate the development of
fair, efficient, and transparent financial markets.
For more information about investing, go to
(The information in this section is required http://www.fma.govt.nz.
under the Securities Act 1978.)
Financial advisers can help you make
investment decisions
Investment decisions are very important.
They often have long-term consequences. Using a financial adviser cannot prevent you from losing money,
but it should be able to help you make better investment
Read all documents carefully. Ask questions.
decisions.
Seek advice before committing yourself.
Financial advisers are regulated by the Financial Markets Authority
to varying levels, depending on the type of adviser and the nature
Choosing an investment of the services they provide. Some financial advisers are only
allowed to provide advice on a limited range of products.
When deciding whether to invest, consider carefully the answers
to the following questions that can be found on the pages When seeking or receiving financial advice, you should check:
noted below:
–– the–type–of–adviser–you–are–dealing–with:
–– the–services–the–adviser–can–provide–you–with:
Page –– the–products–the–adviser–can–advise–you–on.
What sort of investment is this? 4 A financial adviser who provides you with personalised financial
adviser services may be required to give you a disclosure
statement covering these and other matters. You should ask
Who is involved in providing it for me? 17 your adviser about how he or she is paid and any conflicts of
interest he or she may have.
How much do I pay? 19 Financial advisers must have a complaints process in place
and they, or the financial services provider they work for, must
belong to a dispute resolution scheme if they provide services to
What are the charges? 21
retail clients. So if there is a dispute over an investment, you can
ask someone independent to resolve it.
What returns will I get? 25 Most financial advisers, or the financial services provider they
work for, must also be registered on the financial service providers
register. You can search for information about registered financial
What are my risks? 30
service providers at http://www.fspr.govt.nz.
You can also complain to the Financial Markets Authority if you
Can the investment be altered? 34
have concerns about the behaviour of a financial adviser.
This is an Investment Statement for the purposes of the Securities
How do I cash in my investment? 38 Act 1978.
Pursuant to the transitional provisions of the Financial Markets
Who do I contact with inquiries about my Conduct Act 2013, the Securities Act 1978 and Unit Trusts
investment? 41 Act 1960, amongst others, continue to apply to the offer of
securities contained in this Investment Statement.
Is there anyone to whom I can complain if
I have problems with the investment? 43
What other information can I obtain about
this investment? 45
In addition to the information in this document, important
information can be found in the current registered prospectus Terms used throughout this Investment Statement
for the investment. You are entitled to a copy of that prospectus To–help–you–better–understand–this–Investment–Statement,–you’ll–
on request. find–definitions–of–terms–used–in–the–glossary–of–terms–on–page–48.
A quick overview of Premium
Investments - AMP Personal Unit Trust
Whatever your goals are in life, the AMP Personal Unit Trust (PUT) is easy
to manage and flexible to suit your needs. It’s designed for both first time
and more experienced investors.
What is Premium Investments -
AMP Personal Unit Trust?
160
yrs
Premium Investments - AMP Personal Unit Trust is an
AMP HAS BEEN
investment designed to help you save for anything you LOOKING AFTER
KIWIS SINCE 1854.
want. It could be a short term goal, such as buying a new
car or renovating your kitchen. Or a long term goal, such
as saving for a deposit on a house, or funding a university
education for your children. Easy to manage and flexible to
suit your needs, PUT is designed for both first time and more
experienced investors.
Who can invest?
Anyone can invest in PUT. No matter what stage of life you’re
PUT is open to anyone wanting an
at, or what you want to save for, PUT has a range of
easy, flexible investment.
investment funds to suit you. You can invest as an individual,
two people can invest together, or you could be a trust,
company or partnership.
How are my savings invested?
PUT is a unit trust, which means your money is pooled with
We can help you achieve
other people’s money. This wider pool of investors gives you
your financial goals by using
access to a greater range of investments than you’d likely be
experienced investment
able to access as an individual. Depending on your financial
professionals to manage your
goal, your savings are invested in different types of assets,
money.
such as cash, fixed interest, property and shares.
1
How easy is it to invest?
It’s as easy as 1-2-3.
1
1. Decide how many investment accounts you want to set up to
meet your financial goals.
2. Tell us how much you’d like to put into each investment account.
2
3. For each investment account, tell us which funds from the PUT
range you’d like to invest in.
You can make regular payments by direct debit or lump sum
3
payments at any time. You can also make changes to your regular
payments at any time and even change your choice of funds. To find
out more, go to page 20.
How do I get my money out?
PUT has very few restrictions. In fact, you can request a
If you need to get your money
withdrawal anytime you like. You can set up a regular or
out for any reason, PUT makes it
one-off withdrawal, or even transfer your investment to
simple.
someone else. Some minimums apply to balances and
withdrawals – for more information see page 39.
What fees do I have
What are the risks? to pay?
Every investment has risks that could affect the Because your PUT investment is managed by
value of your savings. As a general rule, the financial professionals, there are some costs
higher the level of return, the greater the risk. involved. We charge fees such as an annual
Investments in PUT are not guaranteed. management fee and an administration fee.
For more information about risks, see page 31. You’ll find details of all the fees on page 22.
2
How do I keep track of
my investment?
You’ll get customer statements twice a year. You can also
Managing your investment is easy
sign up for our Telephone Transaction Service (TTS), which
with our Telephone Transaction
allows you to manage your investment, make withdrawals
Service.
and check your transactions over the phone. Just fill in the
TTS section of the application form at the back of this
Investment Statement.
What advice is available?
We’re here to help if you have any questions. You can visit our
website at amp.co.nz or talk to our Customer Services Team
on 0800 267 111. We also recommend you seek
personalised advice from an Adviser. If you need help finding
an Adviser, we can put you in touch with one.
A disclosure statement is available from your Adviser, on
request and free of charge.
Personalised advice at your
fingertips.
AMP–has–one–of–the–largest–networks––
of–Advisers–throughout–New–Zealand.
Want to sign up?
Please–read–the–information–in–this–Investment–Statement–before–deciding–to–invest.–If–there–is–anything–you–don’t–understand–,
please–call–us–on–0800 267 111–or–your–Adviser.–To–sign–up,–simply–complete–the–application–form–and–return–it–to–us.
3
What sort of
investment is this?
If you’re saving for something specific, it could be a holiday,
a renovation or a special occasion, a PUT investment may be
right for you. It doesn’t matter what stage of life you’re at,
whether you’re a first-time or more experienced investor, if
your savings goals are for the short term, long term or both,
PUT is designed to help you reach your financial goals.
This section contains useful information about PUT. You’ll
learn how it can work for you and all the investment fund
options available to help you reach your financial goals.
So, what exactly is PUT? 5
Who can invest? 6
How does PUT work? 6
Who manages my investment? 7
What are my fund options? 7
Managing your cash 16
What sort of investment is this?
So, what exactly is PUT?
PUT is a unit trust and has been in operation since August 2004.
Stay invested for as
long, or short a time
PUT is an easy, flexible way to help you save for any or all of your financial
as you like.
goals. It’s open to anyone who wants to invest, whether it’s one person,
two people wanting to invest together, a trust, company or partnership.
And because it’s a unit trust, meaning your money is pooled with other
people’s money, you have access to investments that may not otherwise
be available to you as an individual.
Whatever–your–savings–goals,–short–or–long–term,–PUT–allows–you–to–tailor–your–investment–strategy–
to–suit–your–needs.–Perhaps–you're–saving–for–your–next–holiday–or–a–home–renovation–or–putting–
money–aside–for–your–children's–future–education–costs.
No–matter–what–you’re–saving–for,–PUT–can–help–you–get–there.
PUT is flexible
This–is–investing–at–its–most–flexible.–How–you–invest–in–PUT–and–when–you–withdraw–is–totally–up–to–
you.–You’re–in–control.–You–can–request–changes–to–your–investment–at–any–time–and–you–can–even–
Access a wide range
change–your–choice–of–funds.
of investments.
PUT can be tailored to suit you
You–may–have–different–financial–goals–that–need–a–different–investment–strategy.–For–example,–you–
may–have–short–term–goals–you–wish–to–reach,–and–one–or–two–longer–term–goals–in–mind.–With–PUT–
you–can–set–up–separate–investment–accounts–for–each–goal,–so–you–can–tailor–all–your–investments–
to–suit–you.–
PUT gives you a wide choice of funds
PUT–offers–a–range–of–funds–for–you–to–choose–from.–Your–money–is–pooled–with–other–people’s–
money.–This–gives–you–greater–access–to–investments–you–may–otherwise–not–be–able–to–access–as–
an–individual.–You–buy–‘units’–which–represent–your–share–in–the–relevant–fund,–and–the–value–of–
your–units–is–generally–calculated–on–each–business–day.–As–the–market–value–of–the–assets–in–the–
fund–rises–and–falls,–the–value–of–your–units–will–also–change.–
Each–fund–has–a–specific–investment–objective–and–invests–in–different–types–of–assets,–such–as–
cash,–fixed–interest,–property–and–shares.–
PUT funds investing in a blend of assets
To–avoid–putting–all–your–eggs–in–one–basket,–some–funds–in–the–PUT–range–invest–in–a–blend–of– All the investments
assets.–These–are–called–‘diversified–funds’–and–can–include–cash,–fixed–interest–or–shares.–– are managed
A–diversified–mix–of–investments–such–as–this–has–the–potential–to–deliver–more–stable–returns.
by experienced
PUT funds investing in a single type of asset professionals from
Some–funds–in–the–PUT–range–only–include–one–type–of–asset,–such–as–shares.–These–are–called– fund managers
‘single-sector–funds’–and–allow–you–to–create–your–own–diversified–portfolio–of–investments–by–
around the world.
choosing–different–single–sector–funds.–PUT–also–offers–single–sector–funds–from–a–range–of–fund–
managers,–so–you–can–diversify–across–fund–managers–as–well–as–assets.
5
Who can invest?
Individuals, trusts, companies and partnerships can all invest in PUT.
What happens if I
You can also hold a joint account with another individual.
go below the $1,000
minimum?
Do I have to invest a certain amount?
You–can–invest–as–much–or–as–little–as–you–like,–as–long–as–you–always–have–the–current–minimum–of– If–your–fund–balance–goes–
$1,000–in–each–of–your–chosen–funds. below–the–$1,000–current–
minimum,–we–may–contact–
How does PUT work? you–to–see–if–you–would–like–
to–make–a–top-up–payment–
or–a–full–withdrawal–from–
that–fund.–If–we–can’t–reach–
you–we–may–sell–your–units–
in–that–fund–and–pay–the–
proceeds–to–your–nominated–
bank–account.
Your–nominated–bank–account
Payments out Payments in
Lisa––
Lisa–has–decided–she–wants–
to–put–aside–$1,500–every–
Cash–Management–Account–(CMA*)
month–to–meet–her–three–
different–financial–goals.––
She–has–set–up–three–
different–investment–
accounts–and–told–us–
Investment account– Investment account Investment account–– that–she’d–like–to–invest–
-–e.g.–Children’s– -–e.g.–Kitchen–renovation -–e.g.–Children’s– $800–in–one–for–a–home–
university–education inheritance deposit,–$200–in–another–
for–a–holiday–and–$500–in–
Fund Fund Fund Fund another–for–a–new–car.–
She–also–told–us–which–funds–
Fund Fund Fund she’d–like–each–account–
to–invest–in.–Lisa–has–now–
created–what–is–called–her–
*You–won’t–have–a–CMA–balance–if–you–invest–only–in–the–Select–and–Dynamic–Markets–fund–ranges.
‘investment–profile’.
PUT helps you save for different goals
Throughout–your–life,–there’ll–be–many–different–things–you–want–to–save–for.–It–might–be–a–new––
car–or–a–home–renovation.–Perhaps–you–want–to–put–money–aside–for–your–children’s–education–or–
a–home–deposit.–PUT–makes–it–easy–to–set–up–different–investment–accounts,–individually–tailored–
for–each–of–your–goals.–
In–fact,–you–can–have–up–to–20–investment–accounts–if–you–wish,–and–call–them–each–a–different–
name–for–easy–reference.–
6
What sort of investment is this?
Setting your investment profile
You can change your
Firstly–you–need–to–decide–what–your–financial–goals–are.–From–there,–you–can–set–up–an–investment–
investment profile
account–for–each–goal.–Let’s–say–you–have–three–goals.–All–you–need–to–do–is–tell–us–how–much–of–your–
initial–investment–and–regular–payments–you’d–like–to–invest–into–each–of–the–three–investment– anytime you wish.
accounts.–Then–tell–us–which–funds–from–the–PUT–range–you’d–like–each–investment–account–to–
invest–in.–
Once–you’ve–decided–this,–you–have–what–is–called–your–‘investment–profile’.
Maintaining your allocations in each fund
Over–time,–your–PUT–holdings–(within–each–investment–account)–are–likely–to–move–away–from–your–
original–allocations.–To–manage–this,–you–can–choose–to–use–our–rebalancing–facility.–This–enables–
us–to–buy–and–sell–units–to–realign–your–holdings–in–your–chosen–funds–if–they–go–outside–certain–
ranges.–You–can–choose–to–have–this–done–monthly,–quarterly,–6-monthly–or–yearly.
Did you know?
There–are–three–top–reasons–why–your–PUT–fund–holdings–may–move–away–from–your–origin–al
investment–allocation–over–time:
Brent
1.– Each–of–your–chosen–funds–has–different–returns,–resulting–in–them–growing–(or–shrinking)–a–t
Brent is married with two
different–rates.
young preschool children.
2.– You–make–a–lump-sum–investment–or–withdrawal. He has two very different
3.– We–sell–units–in–the–fund(s)–to–top–up–your–Cash–Management–Account–facility–(CMA)–––th–is financial goals in mind.
happens–if–you’ve–gone–below–a–quarter–of–the–minimum–balance–explained–on–page–16. He and his wife would like
a new kitchen and have
given themselves three
Who manages my investment?
years to save enough for the
renovation. He’d also like
to put enough money aside
for his children to attend
When you invest your hard-earned money, we understand you want it
university in 16-20 years.
to work as hard as you do. We, AMP, are responsible for managing your As one goal is short term
investment in PUT. We also use experienced investment professionals and other long term, Brent
knows he needs to choose
(called fund managers) to manage your money and help maximise
different funds for each one,
your savings.
but doesn’t know where to
start. He finds an Adviser
We subject all of our fund managers to independent scrutiny
who creates a personalised
The–performance–of–your–investments–is–of–absolute–importance–to–us,–and–we–believe–this–is–greatl–y investment plan that suits
enhanced–through–the–independent–scrutiny–of–our–fund–managers.–That’s–why–we–utilise–interna–l both of Brent’s goals and
and–external–research–providers–such–as–Mercer–(N.Z.)–Limited,–to–help–identify–and–monitor–the–mos–t attitude to risk.
suitable–fund–managers–and–funds–for–PUT.
To–see–which–fund–managers–are–available–in–PUT,–go–to–the–fund–snapshots–on–pages–8–to–15.
What are my fund options?
PUT has a range of funds you can choose from. Your choice of funds will We suggest you read
determine the level of risk you take on and the returns you receive. the fund snapshots in
conjunction with the
To–help–you–determine–the–level–of–risk–you–want–to–take–on,–use–the–risk–profile–tool–a–t–
‘What are my risks?’
amp.co.nz/calculators.–This–will–help–you–choose–which–PUT–fund–or–funds–are–most–suitable–for–each–
of–your–goals.–When–choosing–your–funds,–it’s–also–a–good–idea–to–get–professional–advice.–You–can–d–o section, where you’ll
this–through–your–own–Adviser–or,–if–you–don’t–have–one,–go–to–amp.co.nz–to–find–an–Adviser–near–you. find a more general
On–the–following–pages,–the–fund–snapshots–give–you–key–information–about–the–PUT–range–o–f– description of risks
funds–available. applying to PUT as a
whole.
If–you’re–not–sure–what–some–of–the–terms–mean,–read–the–glossary–of–terms–on–page–48.
7
Diversified funds
These fund snapshots give you key information about the PUT diversified range of
funds available.
Conservative
Risk profile You’re–a–conservative–investor.–Risk–must–be–very–low–and–you’re–prepared–to–accep–t
lower–returns–to–protect–capital.–The–negative–effects–of–inflation–will–not–concern–you–,
provided–your–initial–investment–is–protected.
Investment objective To–primarily–preserve–the–value–of–your–investment–by–investing–in–fixed–interest–and–
and policy cash–assets.
Suggested investment
timeframe Short Medium Long
Income / Growth
Select Income Income–assets–100%–/–Growth–assets–0%
target
Key investment risks Interest–rate–risk;–market–risk
Currency hedging
To–fully–hedge–foreign–currency–exposure–back–to–New–Zealand–dollars.
policy
Annual–Management–Fee:–1.20%–
Fees
Administration–fee:–included–in–Annual–Management–Fee
AMP–Capital–Investors–(New–Zealand)–Limited;–
Fund manager
ANZ–New–Zealand–Investments–Limited
Moderately–Conservative
You’re–a–moderately–conservative–investor–seeking–better–than–basic–returns,–but–risk–
Risk profile must–be–low.
Typically–an–investor–seeking–to–protect–the–wealth–that–you–have–accumulated,–you–
may–be–prepared–to–consider–less–aggressive–growth–investments.
To–achieve–modest-to-medium–returns–-–in–exchange–there–may–be–small–movements–
Investment objective up–and–down–in–the–value–of–your–investments.
and policy To–provide–a–well-diversified–portfolio–that–has–a–conservative–allocation–to–growth–
assets–but–is–primarily–invested–in–lower–risk–income–assets.
Suggested investment
timeframe Short Medium Long
Income / Growth
Income–assets–75%–(55-95%)–/–Growth–assets–25%–(5-45%)–
target (and range)
Select Income Assests
Cash–25%–
Conservative
NZ–fixed–interest–25%–
International–fixed–interest–25%
Benchmark asset Growth Assets
allocations Property–4.5%–
Australasian–shares–5%–
International–shares–9.5%–
Commodities–2%–
Global–infrastructure–2.5%–
Emerging–markets–1.5%
To–fully–hedge–foreign–currency–exposure–for–all–asset–classes,–with–the–exception–
Currency hedging
of–emerging–markets,–where–currency–exposure–is–unhedged,–and–Australasian–and–
policy
International–shares–where–currency–exposure–is–actively–managed–.
Key investment risks Investment–sector–risk–(fixed–interest);–market–risk–
Annual–Management–Fee:–1.55%–
Fees
Administration–fee:–included–in–Annual–Management–Fee
Fund manager AMP–Capital–Investors–(New–Zealand)–Limited
8