Investor Choice
  Product Fact Sheet
 Investor Choice Investment Statement Investor Choice Investment Statement
  Overview
The Investor Choice Superannuation Scheme ('Scheme') is a defined contribution scheme, registered in New Zealand under the Superannuation Schemes Act 1989.
The Scheme is structured to allow advisory groups contacted to Aegis Limited ('Aegis') to design individually managed portfolios from investments authorised by the Trustee and Investment Manager, whilst taking into account their clients' personal circumstances and retirement objectives. Each client portfolio is maintained as a distinct portfolio of investments under the Scheme.
Investor Choice Superannuation Scheme is a Qualifying Recognised Overseas Pension Scheme ('QROPS') for the transfer of UK pensions.
The Scheme is not a Portfolio Investment Entity ('PIE') for tax purposes, nor is it a KiwiSaver scheme.
Investor Choice Superannuation Scheme has an Aegis branded Investment Statement.

Parties involved in providing the scheme
Parties involved in providing the scheme
 
Scheme fees incurred by members
Scheme fees incurred by members
The trustee, administration, investment manager and advisory fees are calculated as a percentage of the funds under management in each portfolio. Fees may change from time to time.

* All general scheme expenses, such as legal, audit and accounting expenses, are paid out of the Investment Management Fee. Expenses specific to a member are deducted from that member's portfolio.

Fees/costs incurred by advisory groups
Advisory groups are charged a one-off $5,000 participation fee, payable to Aegis. This fee covers part of the set up costs of the Scheme.
Costs (if any) for printing Investment Statements and maintaining marketing collateral will be borne by the advisory group. Any marketing collateral should not make reference to the Investor Choice Superannuation Scheme unless it has been approved by the Trustee. All printed versions of Investment Statements must also be approved by the Trustee prior to distribution.

Taxation
As a registered superannuation scheme, the fund currently pays tax on its net income at 30%. Members are not generally liable for New Zealand income tax on their investment returns.

Facts about the Scheme
  • Single Trust Deed and prospectus.
  • Generic investment statement.
  • Annual consolidated scheme accounts.
  • All member records are maintained on Aegis with fees being charged based on fund values.
  • The Trustee and Investment Manager authorise the universe of assets and the investment methodology for each advisory group.
  • The member portfolio bank account loaded to Aegis is the Trustee account for withdrawals. The Trustee will approve withdrawals, receive the funds and then pay these to the member.
  • A members' retirement age is 55 unless otherwise agreed with the Trustee.
  • Members may request a full or partial withdrawal of their member account at any time after reaching 55, unless a lock-in period beyond age 55 is required, for example as part the terms of a pension transfer.
  • Members may request a one-off withdrawal benefit of up to 20% of their Member Account prior to age 50.
  • Members may also request a one-off early retirement benefit between age 50 and retirement age of up to 40% of their Member Account. If a withdrawal benefit has been previously paid, then the early retirement benefit will be reduced by the percentage taken previously. For example, if a 10% withdrawal benefit was previously taken, the maximum early retirement benefit would be 30%.
  • QROPS rules apply for UK pension transfers.
  • The Scheme was registered in July 2009 and is a registered QROPS for the transfer of UK pensions.

How advisers can participate in the Scheme
  • Existing Aegis user groups that are interested in distributing the Scheme will need to advise Aegis of their interest.
  • The Investment Manager and the Trustee will then begin a process to agree upon their universe of assets and any predetermined portfolio models. This process will include a questionnaire for the advisory group to complete which will be followed by a meeting with the Investment Manager.
  • Advisory groups may prepare appropriate marketing material (if they require it) to accompany the Investor Choice Superannuation Scheme Investment Statement. Any material that refers to the Scheme will need to be approved by the Trustee.
  • The advisory group will need to sign a distribution agreement with the Trustee, Perpetual Trust Limited.
  • Aegis will establish a service level agreement for each advisory group's members in the Scheme.

Contact us
For more information on the Investor Choice Superannuation Scheme, please contact Aegis on 0800 800 638, email superenquire@aegis.co.nz or visit www.aegis.co.nz 		   

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