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Nominee service

If you’re looking to simplify the management of your share portfolio, then our nominee services could be the perfect solution. We'll do the administration, provide reporting, organise dividend payments and help facilitate corporate actions for you. Your securities will be held in custody if you have opted into the nominee service, are a Margin Lending client, or you're trading in an overseas market - in which case your shares are automatically held in custody with BNY Mellon.

Benefits at a glance

  • Saves you time by eliminating much of the administration of owning shares, as we handle the paperwork for you
  • We inform you of any corporate actions and act with your instruction and facilitate dividend payments to you
  • Removes the need to deal with share registries
  • Easy tracking of your investments with holding and transaction statements prepared and sent to you monthly by ASB Securities

How it works

As an alternative to holding shares in your own name, you can choose to hold them with ASB via ASB Nominees Limited (ASB Nominees).

  • To use this service, you must be an ASB Securities customer. If you don’t already have an account, just answer a few quick questions and we'll get you started.
  • If you're already an ASB Securities customer, call us to find out more about our nominee service and we will let you know what you need to provide.
  • ASB Nominees will open a unique client number that relates solely to you and your nominee holdings. You can transfer existing holdings to the nominee, and any new investments that you trade under this unique client number would be registered directly under your nominee account.
  • As a nominee client, you retain the same benefits as if your investments were held by you directly.
  • We administer your portfolio, provide regular reporting and facilitate dividend payments.

Margin lending nominee service

The nominee service is optional for most clients; however, if you apply for a margin lending facility, a nominee must be appointed. While the nominee has legal ownership over the securities (to preserve ASB Bank’s rights as the lender over the security), the borrower is the underlying beneficial owner.

ASB Nominees operates a “non-pooled” approach to holding securities on behalf of borrowers, meaning that your securities are not bundled together with those of other customers. ASB Nominees is not permitted to use your securities for any purpose other than to secure your margin loan.

Using your existing securities
If you would like to use any existing holdings as security for your margin lending facility, you’ll need to transfer these into the custody of the designated nominee. We can help you with this.

Releasing security
While you have a margin lending facility, your securities will be held by ASB Nominees until you have repaid all amounts owing, after which time you can instruct for your securities to be released back to you.

However, you may request for your securities to be released from the nominee while a loan is outstanding. Release will depend on whether there is sufficient security remaining in your portfolio to fully secure your margin loan.

Fees

Nominee fee

Fees for the nominees service (ASB Nominees Limited) are charged six months in arrears, directly to your ASB Cash Management Account.

If you are a margin lending customer, the nominee fee will be waived if the interest accrued is greater than $400.00 in the preceding six month period.

every six months

Stock transfer fee

Applies to individual securities transferred in or out of ASB Nominees Limited for margin lending customers.

per security

Transfer of foreign securities in or out of custody incurs additional fees. Other custodial service fees that are imposed by our agent relating to foreign securities may apply. We will advise you of any additional fees at the time of your request.

Find more information about ASB Margin Lending fees.

Join ASB Securities

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Any questions?

Email us if you'd like help to get started.

asbsecinfo@asb.co.nz

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We're available Monday to Friday, 7am to 6pm.

0800 272 732

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NZX Firm logo

ASB Securities Limited is a NZX Firm. ASB Securities terms and conditions apply. Margin lending and ASB Cash Management Account provided by ASB Bank Limited. ASB's terms apply.

ASB Securities Nominee service