Latest news with #InvestNow
Scoop
5 days ago
- Business
- Scoop
InvestNow Launches Foundation Series Nasdaq-100 Fund Catered To Kiwi Investors
Press Release – InvestNow The new fund charges a management fee of just 0.15% per annum, a 0.50% transaction fee on all buy orders (entry fee) and 0.50% on all sell orders (exit fee). InvestNow has announced the launch of the Foundation Series Nasdaq-100 Fund, which offers exposure to the Nasdaq-100 Index® through a Portfolio Investment Entity (PIE) fund structure, with market-leading low fees and added tax advantages. The new fund charges a management fee of just 0.15% per annum, a 0.50% transaction fee on all buy orders (entry fee) and 0.50% on all sell orders (exit fee). It is the tenth offering in InvestNow's low-cost Foundation Series Funds range, and the first time that New Zealand investors can get exposure to the Nasdaq-100® within a PIE fund. 'The Nasdaq-100® is one of the world's preeminent large-cap growth indexes, and by capturing exposure through a low-cost, tax-efficient PIE fund, it can help reduce expenses and therefore enhance returns for Kiwi investors,' says InvestNow Senior Portfolio Manager Jason Choy. 'Direct investors into other funds that track the Nasdaq-100® face a marginal tax rate of up to 39%. Through a PIE fund however, investors' tax rate is capped at just 28%, which can help sidestep an up to 40% higher tax bill in real terms. The advantages are considerable, and I wouldn't be surprised if this ends up being one of the most popular funds we offer.' The Foundation Series Nasdaq-100 Fund offers exposure to the 100 largest non-financial companies listed on the Nasdaq Stock Market, which includes tech heavyweights such as Apple, Tesla, NVIDIA and Microsoft. 'These are some of the world's largest and fastest growing companies. I'm thrilled we can offer investors exposure to the Nasdaq-100® in such a novel way; that we can partner with such global investment giants underlines our expertise and our product offering,' Choy adds. InvestNow started its low-cost Foundation Series Funds range in 2020, which have an average management fee of just 0.16% per annum. Currently the Foundation Series Funds have around $500m in funds under management.
Scoop
6 days ago
- Business
- Scoop
InvestNow Launches Foundation Series Nasdaq-100 Fund Catered To Kiwi Investors
InvestNow has announced the launch of the Foundation Series Nasdaq-100 Fund, which offers exposure to the Nasdaq-100 Index® through a Portfolio Investment Entity (PIE) fund structure, with market-leading low fees and added tax advantages. The new fund charges a management fee of just 0.15% per annum, a 0.50% transaction fee on all buy orders (entry fee) and 0.50% on all sell orders (exit fee). It is the tenth offering in InvestNow's low-cost Foundation Series Funds range, and the first time that New Zealand investors can get exposure to the Nasdaq-100® within a PIE fund. 'The Nasdaq-100® is one of the world's preeminent large-cap growth indexes, and by capturing exposure through a low-cost, tax-efficient PIE fund, it can help reduce expenses and therefore enhance returns for Kiwi investors,' says InvestNow Senior Portfolio Manager Jason Choy. 'Direct investors into other funds that track the Nasdaq-100® face a marginal tax rate of up to 39%. Through a PIE fund however, investors' tax rate is capped at just 28%, which can help sidestep an up to 40% higher tax bill in real terms. The advantages are considerable, and I wouldn't be surprised if this ends up being one of the most popular funds we offer.' The Foundation Series Nasdaq-100 Fund offers exposure to the 100 largest non-financial companies listed on the Nasdaq Stock Market, which includes tech heavyweights such as Apple, Tesla, NVIDIA and Microsoft. 'These are some of the world's largest and fastest growing companies. I'm thrilled we can offer investors exposure to the Nasdaq-100® in such a novel way; that we can partner with such global investment giants underlines our expertise and our product offering,' Choy adds. InvestNow started its low-cost Foundation Series Funds range in 2020, which have an average management fee of just 0.16% per annum. Currently the Foundation Series Funds have around $500m in funds under management.
Yahoo
29-04-2025
- Business
- Yahoo
Opinion: Bankers send mixed message on net zero
By Gina Pappano The 2025 bank annual general meeting (AGM) season is over. As a bank shareholder and executive director of InvestNow, I presented shareholder proposals to the Big Five Canadian banks. This was my third time doing so. In 2023, I asked them to commit to the Canadian oil and gas sector and rethink 'net zero by 2050.' In 2024, I asked them to study and report on the costs of adhering to net zero by 2050. In both instances, they refused. This year our formal ask of the banks was to quit both the Net-Zero Banking Alliance (NZBA) and the Glasgow Financial Alliance for Net Zero (GFANZ). These are two interrelated, UN-sponsored and, until recently, Mark Carney-led organizations that advocate phasing out the oil and gas industry to achieve net-zero emissions targets. They do this primarily by pressuring financial institutions to cut funding for oil and gas companies and projects. In effect, these organizations' goal is to eliminate one of Canada's most productive and prosperity-generating sectors. Of course, the end of Canadian oil and gas would be bad for bank shareholders and customers, as well as the Canadian economy writ large. It's a goal informed by ideology rather than the interest of the banks themselves or the shareholders to whom they have a fiduciary duty. Which is why, we argued, our banks should not continue down this net-zero path. Now, an odd thing happened this year. The banks announced they were leaving the two net-zero alliances before the AGMs even began. (We clearly under-asked!) Even so, they let us present our proposals, and I'm glad they did. It allowed me both to applaud them for leaving organizations that undermined their business but also to point out that this was just a first step. It's also necessary to leave behind the ideological madness of net zero. Attending the AGMs also gave me a chance to look in on the activist groups, like Investors for Paris Compliance, SHARE, MÉDAC, and For Our Kids, which all presented their own shareholder proposals or asked questions that were ideologically driven and decidedly opposed to oil and gas exploration and production in Canada. At the AGMs of BMO, TD, and RBC, things became personal. Activists named and attacked four directors on the bank boards (three of the four were female, I couldn't help but notice). Why? Entirely because they also sit on the boards of oil and gas and pipeline companies, which the activists claimed constituted a conflict of interest. They called these directors 'fossil-fuel compromised.' This was unprecedented and frankly, worrying. The activists are now targeting duly appointed and approved board members only because of their experience, past or present, in oil and gas. It all brought to mind the controversial Bill S-243 — the 'Climate-Aligned Finance Act' — which would forbid financial institutions from having board members with any kind of connection to oil and gas, even owning stock in companies that work on pipelines, while also requiring companies to have designated board members ideologically committed to the destruction of the oil and gas industry. (It's worth noting that Mark Carney testified before the Senate in favour of the bill last year.) At times the remarks of the bank CEOs themselves gave hope they were done with being pushed around by the activists and ideologues and were ready to change their tune on oil and gas. The phrase, 'Canada can and must feed and fuel the growing world' came up at two different AGMs, among other encouraging statements, such as 'the world wants what Canada can provide in great abundance. Canada can be a leader in sectors like energy, agriculture, critical minerals, advanced manufacturing and technology.' 'Canada needs a growth-first agenda.' 'Canada has an unprecedented opportunity to build a better and more prosperous future.' All of which is true. But any hope that common sense is being restored in banking faded when, during question-and-answer sessions, these same CEOs trotted out tired old phrases about their commitment to 'net zero, decarbonization, and the energy transition.' There was thus a huge disconnect between the prepared remarks with which they opened and their answers to questions. Which path they'll take moving forward is not clear. Do they support unleashing Canada's economic potential and building a prosperity-driven economy for all, or do they side with the activists in supporting a rapid phaseout of the backbone of our economy? Bjorn Lomborg: Net zero's cost-benefit ratio is crazy high Bjorn Lomborg: Don't double-down on net zero again Despite this year's success we at InvestNow clearly still have a lot of work to do. Now more than ever, our financial institutions need to be reminded to whom they are responsible. Hint: The answer is not our environmentalist activist class. It's their shareholders, first and foremost, and ultimately to Canada. Rest assured, we won't let them forget it. Gina Pappano is executive director of InvestNow. Sign in to access your portfolio
