We’ve opened up ASB Investment Funds

14 July 2022 / Published in Your Money

Investing can play a key part in achieving your financial goals – and the sooner you start, the better off you can be. So we’re pleased to announce ASB Investment Funds is  now more accessible no matter where you are on your money journey.

What is ASB Investment Funds?

Today, it’s common to look for alternative options to grow your money. ETFs, shares and managed funds are regular conversation topics at dinner parties and cafes.

ASB Investment Funds offers access to a range of six managed funds. Each fund has a different mix of growth assets and income assets, so you can choose the fund that best suits your investment time frame and goals. They’re very similar to our ASB KiwiSaver Scheme funds. But unlike KiwiSaver, you can take your savings out whenever you like, for whatever you like.

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.”

So, should I stop investing in KiwiSaver and use Investment Funds instead?

KiwiSaver has lots of benefits, like employer and government contributions on top of your own savings. It’s one of the best long-term savings options out there, and pretty much unbeatable as a way to save for your first home and your retirement.

ASB Investment Funds works well alongside KiwiSaver for your other savings goals.

As Emma-Jayne says: “Growing your savings is an essential step toward making financial progress. Now that ASB Investment Funds are more accessible, you can use them for those important savings like big goals or just to give yourself more options in life. It’s easy to set up automatic contributions, and when you need your funds you can have them back in your main account within 2-3 working days.”

That 2-3 day timeframe has another benefit for your savings. The short delay gives you a bit of a cool-down period, and makes it a little less tempting to crack that piggy bank open. But also not too long to wait if you’ve got something urgent to pay.

How do I open an ASB Investment Funds account?

You can open an ASB Investment Funds account for yourself in ASB online banking, or on the ASB Mobile banking app. There’s no cost, and no minimum opening deposit. You’ll see your balance alongside your other ASB accounts, and you can add funds to your account with a simple transfer.

When you open your account, remember to choose the fund that’s right for your goals and your timeframe.

That’s the sort of thing you can talk about with our ASB Wealth Advisory Service. They’d be very pleased to talk you through our funds, and help with any questions you may have. They can also help with opening other ASB Investment Funds account type, such as for joint investors, companies or trusts. You can call our team on 0800 108 084. They’re here from 9am to 5pm during the week.

Interests in ASB Investment Funds are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides administration and distribution services for ASB Investment Funds. No person guarantees interests in ASB Investment Funds. Interests in ASB Investment Funds are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. Fees may change. For more information see the ASB Investment Fund Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB Investment Funds).


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