What’s changed to make ASB Investment Funds so accessible?
Most managed funds have very strict minimum investment amounts. These minimums can be a huge barrier for everyday Kiwis who are just starting out on their investment journey. For example, opening an investment account could require as much as $5,000 for the initial deposit with some providers, but usually around $1,000-$2,000 is required.
That’s why we’ve changed our minimum investment amounts for:
- Opening an account – you no longer need a minimum investment amount to get started
- Ongoing deposits – you can contribute as little as $1 whenever it suits you
- Minimum balances – you can withdraw your entire balance at any time, although if your account balance is under $100 for more than 12 months, we can withdraw your investment on your behalf and pay it to you
Emma-Jayne Liddy, our Head of Wealth Products, is pleased we’re now making our investment options available to more New Zealanders.
“With no minimum contributions, we’re giving our customers access to more sophisticated investing. They can draw on the expertise of ASB and our partners BlackRock, and enjoy the performance and competitive fees of our diversified investment funds.”
It also gives people more options. “There’s a real need for alternatives to property and savings accounts. Property is hard to access, and interest rates on savings are still relatively low. ASB Investment Funds can offer strong returns, and it’s now as easy to join as it is to open a savings account. They’re also flexible. Unlike term deposits, your funds aren’t locked in for a set period. And unlike KiwiSaver, you can access your savings whenever you like.”