Working on change and innovation in savings
We are market leaders in funds management, investment and savings products and superannuation.
We are known for our efficient and innovative product development skills and technical ability. Our leading work includes helping to develop, restructure and design KiwiSaver and complying superannuation funds and innovative products including tax effective PIEs (portfolio investment entities) such as cash and term PIE unit trusts, and NZX listed PIE investments.
Our national superannuation and investment funds practice is also the most comprehensive in New Zealand. We play a leading role in KiwiSaver and complying superannuation fund product development and compliance, as well as superannuation-related policy formulation development and legislative reform.
We have advised
- on the establishment of a number of PIE compliant cash and term funds, including the AMP Cash Advantage Fund, the Westpac Cash Plus Trust, the ASB Cash and Term Funds, the National Bank Call Fund, and the BNZ Cash PIE
- on the restructuring of unit trusts, superannuation schemes and other investment products, including closing and suspending funds, migrating unitholders and bulk transfers of superannuation scheme members (including without member consent)
- Trafalgar Copley NZ Fund on its development (which utilises the new Fair Dividend Rate (FDR) tax regime)
- a large international bank, based in Asia, on the establishment of a new NZSX-listed PIE, which takes advantage of both the PIE tax rules and the new FDR tax rules
- on compliance with New Zealand securities laws, including prospectus and investment statement preparation and obtaining exemptions from the Securities Commission. We obtained approximately a quarter of all exemptions applied for over the last ten years
- on establishing retail and wholesale unit trusts and group investment funds, including for AMP Capital, AMP Services, ASB Group Investments, BT Funds Management, Equitable, First NZ Capital, Huljich Wealth Management and Westpac
- on the establishment of three of the six default provider KiwiSaver schemes (AMP, ASB, NZGT for ING), and on the establishment of KiwiSaver schemes for Anglican Church Pension Board, eo, First NZ, Fisher Funds, Huljich, NZX and Sovereign
- numerous major employer based or group superannuation schemes including for ANZ National Bank, Westpac, ASB, Fairfax, Airways Corporation, and the Anglican Church Pension Board, and other major New Zealand employers on their KiwiSaver remuneration strategies
- Airways Corporation, Alliance, Annuitas, ANZ National bank, Beca, Fairfax, Foodstuffs and Rio Tinto on obtaining complying superannuation fund status
- numerous Australian registered managed investment schemes on their trans Tasman offers, including Aberdeen, Aurora, Australian Unity, BT, BTIM, Colonial, Invesco, Platitum, Ray White Invest, Russell, and Valad, some of whom have been the first to take advantage of the Mutual Recognition of Securities Offerings regime, and
- overseas fund managers and their local counterparts on the New Zealand law requirements when offering their services in New Zealand, including New Zealand law compliance, outsourcings, insourcings, investment management arrangements, distributor agreements, custody arrangements, licensing, futures dealing compliance, and SIPOs.