Funds, KiwiSaver & superannuation

Funds, KiwiSaver & superannuationFunds, KiwiSaver & superannuation

Working on change and innovation in savings and funds management

Chapman Tripp’s funds management, investment and savings products and superannuation lawyers are known for their efficient and innovative product development skills and technical ability. 

Our specialists have been closely involved in influencing change in this area in New Zealand. We play a leading role in working with law makers, industry bodies and clients, and on our own account, in seeking to ensure that proposed legislation will enhance the industry, is practical and will achieve its stated aims.  We have been active in using these new legal frameworks to develop efficient and innovative investment products.

Our 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 the most comprehensive in New Zealand.

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 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 and Westpac New Zealand
  • on the acquisition of KiwiSaver and funds management businesses including Fisher Funds’ acquisition of the Tower, Credit Union, HWM (NZ), and First NZ Capital KiwiSaver schemes
  • on the establishment, management and growth of market-leading KiwiSaver schemes, including for AMP, ASB, BNZ, eoSaver, First NZ, Fisher Funds, and Generate
  • leading workplace and other restricted-offer superannuation and KiwiSaver scheme sponsors and providers including ANZ Bank New Zealand, Beca, Fairfax, Harbours, Heinz, Foodstuffs, Rio Tinto and the New Zealand Anglican Church Pension Board (and on establishing and developing both the Teachers and the State Sector Retirement Savings Schemes)
  • various organisations on their submissions to government, including assisting Workplace Savings NZ with its submission on a possible FATCA exemption for KiwiSaver and superannuation schemes and its KiwiSaver Hardships and Transfers Guidelines; the Financial Services Council with its submission on the Securities Act (Multiple Participants Superannuation Schemes) Exemption Notice 2011; and the New Zealand Bankers’ Association with its submission on the Financial Markets Authority’s KiwiSaver Sales Guidance Note
  • 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)
  • on compliance with New Zealand securities laws, including prospectus and investment statement preparation and obtaining exemptions from the Securities Commission (now the Financial Markets Authority). We obtained approximately a quarter of all exemptions applied for over the last ten years
  • on acquiring trustee licenses under the new statutory supervisors legislation, including for Trustees Executors Limited
  • Gareth Morgan Investment on a number of issues, including KiwiSaver questions and broker advice
  • Kiwibank on various aspects of the Prezzy card product
  • the then Ministry of Economic Development, and Inland Revenue, on high-level policy aspects of (and technical issues relating to) the KiwiSaver legislation, both before and after its inception

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