Funds Management, KiwiSaver and Superannuation

With the amount of funds available for investment in New Zealand and overseas continuing to increase, there will be significant opportunities for fund managers in the coming years.  However, challenges exist in the form of greater scrutiny from policymakers and the public, a moving regulatory landscape, pressure on fees and increased compliance costs.

We understand the regulatory and legislative framework applicable to the funds industry and the views of the regulators, and help our clients achieve their commercial objectives within that framework.

We work alongside fund managers, trustees, supervisors, financial advisers, custodians, investors and employers to navigate the red tape, and have close relationships with the regulators and market experience and expertise so that this can be done efficiently and effectively.

The funds industry is the subject of increasing regulation. With the transition into the Financial Markets Conduct Act complete, focus is turning to the Financial Services Legislation Amendment Bill, which repeals the Financial Advisers Act, as well as on the implications of amendments to the Anti-Money Laundering and Countering Financing of Terrorism Act. The proposed Trusts Act also has potentially significant consequences for the industry.

We advise on the establishment, operation, restructure and wind up of funds and investment schemes. We assist in the development and design of schemes, including on tax efficient structures. 

KiwiSaver has led to the funds industry becoming relevant for the majority of New Zealanders and a much greater focus on the management of New Zealanders' wealth. While the issues that affect retail funds also affect KiwiSaver schemes generally, regulators pay close attention to investor protection where KiwiSaver is concerned, given its wide impact.

We have been involved with KiwiSaver since its conception more than a decade ago, and are well versed to advise on all aspects concerning KiwiSaver as well as other superannuation schemes.

Financial market reform has transformed the financial services provided in New Zealand. We advise on all aspects of financial adviser regulation, and work closely with clients, law makers and regulators to shape the law and policy to reflect business practice.

The landscape of New Zealand's employee share schemes is currently undergoing a period of change, with tax reforms being implemented this year with implications on existing incentive schemes (subject to grandparenting). We advise on the structuring, establishment, operation, amendment and wind up of long and short term incentive schemes, as well as on the compliance and disclosure requirements with respect to such schemes.