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kiwiSTART Select

kiwiSTART Select provides you with greater choice and control of your KiwiSaver investments. You have the option to create your own self-selected portfolio from our list of nominated securities or, if you prefer, choose from our range of risk based investment funds (Defined Portfolios) the fund that best suits your risk profile. 

At a Glance

  • Flexibility and choice - Select your investments from our list of nominated securities and funds
  • Control - You can change the composition of your portfolio
  • Transparency - You are able to view the securities or funds you have selected online
  • Investment advice - A Craigs Investment Partners Adviser is available to help you

Find out more about the incentives of joining KiwiSaver or apply online now.

If you have any questions contact the START Team or phone 0800 878 278.

Investment options

When selecting an investment option you need to consider your appetite for investment risk. To find out more click on the investment options heading above.

Option 1 Option 2 Option 3
Self-select Portfolios

Create your own portfolio from our list of nominated securities

OR
 
Defined Portfolios

Choose one or a combination of our risk based funds

OR
 
Self-select and Defined Portfolios

Choose any combination of both Portfolios

Self-selected Portfolios

A self-selected portfolio gives you the flexibility to create your own portfolio, giving you control over the asset allocation and the securities that make up your investment.

In conjunction with a Craigs Investment Partners Adviser you can select from our list of nominated securities, giving you investment options across a range of sectors and securities.

View our list of nominated securities and funds available via kiwiSTART Select.

Your self-selected investment options include:

Cash and Fixed Interest New Zealand Shares Global Funds
Access to on call cash investment options. Access to fixed interest securities via our Defined Portfolios Fixed Interest Fund or Conservative Fund. Select from our list of nominated securities for access to New Zealand shares through listed index funds that track local stock market indices or choose our Defined Portfolios New Zealand Equity Fund. Select from our list of nominated securities for access to investment funds that provide an easy and diversified way to invest in global markets and themes such as emerging markets.
     
Property Australian Shares Global Shares
Select from our list of nominated securities for access to local and global listed property funds that invest in, or have interests in, the property industry. Select from our list of nominated securities for access to Australian shares through listed index funds that track local stockmarket indices or choose our Defined Portfolios Australian Equity Fund. Select from our list of nominated securities for access to direct investment in global shares in the US, UK, Europe, Asia and emerging markets.

Defined Portfolios

There are eight Defined Portfolios ('Funds') available to you. These provide easy access to a diversified range of risk based Investment Options. The Funds range from lower-risk investment weighted towards income assets to more growth-orientated investments. Each Fund has been carefully structured with the aim of delivering the returns relevant for the risk profile.

You can build your investment portfolio from our Defined Portfolioshowever, you cannot change the underlying securities of a Fund. Monthly Fact sheets, with a list of securities for each of the Funds are available for you to view.

Defined Investment Options Graph

The Funds are invested in the Defined Portfolios. The Defined Portfolios are unit trusts, which are registered as Portfolio Investment Entities (PIEs) and may therefore offer tax advantages for some investors. The Defined Portfolios are managed by Craigs Investment Partners Investment Management Limited, a wholly owned subsidiary of Craigs Investment Partners Limited.

When selecting an investment option you need to consider your appetite for investment risk. We recommend that you read the latest investment statement and seek advice from a Craigs Investment Partners Adviser before making an investment decision.

To find out more about the investment options read the Defined Portfolios Investment Statement. Each Fund has been carefully structured with the aim of delivering the returns relevant for the risk profile, click here for details of our Funds.

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Why choose Craigs Investment Partners?

Craigs Investment Partners Superannuation Management Limited is a registered KiwiSaver provider. Our kiwiSTART Select scheme offers:

  • Flexibility and choice - You can select from a range of funds (Defined Portfolios) and individual securities from our nominated list.
  • Control of your Investments - You can change the composition of your portfolio as your circumstances change.
  • Transparency - You are able to view the securities or funds you have selected online via our website. Valuations are updated daily.
  • Investment Advice - You can work with your Craigs Investment Partners Adviser to create an investment plan to suit your needs and goals.
  • Access to Company Research - Our private wealth research team monitors economic trends and social and political events which can affect financial markets. Our analysts publish timely in-depth reports on a range of companies and this research is available on line to members of our KiwiSaver schemes. Read a selection of sample Company Research Reports: Port of TaurangaANZ Banking Group, Visa.
  • Reporting - Keep in touch with the performance of your investments with online access to your 6 monthly reporting and our regular communications.

 

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Investment Statement

We recommend that you read the kiwiSTART Select Investment Statement and seek advice from an Investment Adviser before making an investment decision.

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Frequently Asked Questions

The following information is based on information contained in the kiwiSTART Select and kiwiSTART Defined Investment Statements. It is important that you read the Investment Statements before you invest in either of our kiwiSTART products.

If you have further questions, some may be answered from those that our clients have asked before joining kiwiSTART.

Click on each of the headings below to find answers to questions you might have about kiwiSTART.

Benefits of joining KiwiSaver

KiwiSaver is a Government initiative that provides a number of incentives to help New Zealanders save for their retirement. The key incentives for individuals to join KiwiSaver include the contributions made by the Government and your employer.

Product Feature Benefit to You

$1,000 kick-start

When you first join KiwiSaver, the Government make a $1,000 kick-start payment to your KiwiSaver account in your first year.

Member tax credits

Subject to certain criteria, from age 18, you may receive member tax credits of up to 50 cents per dollar of qualifying member contributions, up to $10 per week or $521.43 per annum.

Employer contribution

From age 18, if you are employed and contributing to KiwiSaver your employer will generally contribute as well. The minimum employer contribution is 3% of your gross (pre-tax) salary or wages (with this amount being subject to employer superannuation contribution tax at a rate up to 33%).

Withdrawal to buy your first home

After you have been a KiwiSaver member for at least three years you may be able to withdraw part (or all) of your contributions and your employer contributions to buy your first home (not an investment property). However, your Government $1,000 kick-start and member tax credits cannot be withdrawn to buy your first home.

The Government may give you another $1,000 for every year you contribute to KiwiSaver (minimum 3 years or $3,000, maximum 5 years or $5,000) to go towards purchasing your first home. Entitlement to this subsidy will depend on your household income and the price of the home. The first home deposit subsidy is administered by Housing New Zealand. There are criteria that apply. To find out more details of this subsidy please visit the Housing New Zealand website (www.hnzc.co.nz) or call them on 0508-935-266.

Your KiwiSaver account stays with you

Your KiwiSaver account is personal to you. If you change jobs or leave the workforce, your KiwiSaver account stays with you.

Your contribution

If you are employed and not on a contributions holiday, you will need to contribute 3%, 4% or 8% of your gross (pre-tax) salary or wages. This is deducted from your net (after tax) pay.

The default contribution rate is 3%.

If you are self employed or a non worker, you can decide how much you contribute into KiwiSaver (certain conditions may apply, please see our Investment Statements (below) for details).

Contributions holiday

 
After being a KiwiSaver member for 12 months, you can choose to stop contributing – this is called a contributions holiday. A contributions holiday can last between three months and five years. You can still contribute $1,042.86 each year in order to receive member tax credits of $521.43 from the Government.

 

For more information read the kiwiSTART Select or kiwiSTART Defined Investment Statements.

What is kiwiSTART?

kiwiSTART Defined and kiwiSTART Select are Craigs Investment Partners' KiwiSaver superannuation schemes. This means the schemes meet the Government’s criteria to be registered as a KiwiSaver scheme.

Click here for more information on KiwiSaver.

Who is eligible to open a kiwiSTART account?

kiwiSTART is a retirement savings scheme. Anyone under the age of eligibility for New Zealand Superannuation (currently 65), who is living in New Zealand (with some exceptions) and who is either a New Zealand citizen or entitled to live in New Zealand indefinitely is eligible to open a kiwiSTART account.

What contributions am I required to make?

The minimum contribution rate for employees is currently set at 3% of before tax salary or wages (that means total salary, including bonuses, commission, extra salary and overtime). Alternatively you can choose to save 4% or 8%. kiwiSTART members can make one-off lump sum payments any time, directly through Craigs Investment Partners or through the IRD. Find out more.

Is there any upper limit to my contributions?

Yes, the maximum level of regular contribution via PAYE is 8% of your pre-tax earnings. In order to make additional contributions, members can pay these directly to their kiwiSTART account via Craigs Investment Partners or to the IRD.

We strongly recommend that you seek investment advice prior to any decision to contribute more than 3% of your earnings.

Can I stop making contributions via PAYE?

Once you have been a member of kiwiSTART for 12 months, you can stop making contributions for a period of between 3 months and 5 years. This is also known as a contributions holiday. The IRD will write to members nearing the end of their contributions holiday enquiring as to whether contributions are to re-commence. Further contributions holidays may be taken consecutively.

How will my contributions be invested?

You can choose from our range of risk based investment options (which correspond to our Defined Portfolios unit trusts) that best suit your risk profile. In addition, if you join kiwiSTART Select you can create your own portfolio by selecting your investments from a list of nominated Australasian and Global securities. Before making an investment decision, we recommend you discuss your options with your Investment Adviser.

Further details can be found in our kiwiSTART Select and kiwiSTART Defined Investment Statements.

What returns will I get?

Returns from kiwiSTART will usually not be accessible to you until you reach the age of 65 or have been a member of a KiwiSaver scheme for 5 years (whichever is later) unless you satisfy the early withdrawal criteria. kiwiSTART is a long term investment and the final value of your KiwiSaver savings will depend on:

  • the contributions you and your employer have made (i.e. how much you have invested);
  • the amount of Government incentives you have received;
  • the fees and costs paid by you or the scheme;
  • the taxes paid;
  • withdrawals you have made; and
  • investment returns.

The value of your kiwiSTART account may be affected by:

  • changes in general market conditions;
  • unforeseen adverse events that affect the value of the underlying business;
  • currency exchange rates; and
  • movements in interest rates.

For more details on the principal risks from investing in kiwiSTART please see the latest Investment Statement. No amount of returns is promised or guaranteed.

How can I check how my kiwiSTART investments are performing?

Once your kiwiSTART account is established, you will receive a statement every 6 months (March and September) from Craigs Investment Partners including details of your contributions and an up-to-date portfolio valuation. Alternatively, you can view your kiwiSTART account via our website at any time.

Are there any incentives to join kiwiSTART?

The Government has offered a number of benefits including:

  • A one-off, $1,000 lump sum contribution (kick-start) into your scheme member’s account when you join your first KiwiSaver scheme*
  • A tax credit of up to $521.43 p.a.*
  • First home purchase assistance*

* Subject to satisfying certain eligibility criteria.

As an employee how will I know whether my contributions are being paid to my account?

All employee KiwiSaver contributions are forwarded to the KiwiSaver Scheme Provider via the IRD. Members can view their contributions received by the IRD at www.kiwisaver.govt.nz.

What happens to my kiwiSTART account if I change jobs?

If you change jobs your KiwiSaver contributions will continue via your new employer. Your employee contribution rate will default to the 3% rate unless you notify your new employer that you wish to contribute at the 4% or 8% rate. If you become self-employed or leave paid employment, you can make contributions directly through Craigs Investment Partners.

When can I have access to my kiwiSTART investments?

As kiwiSTART has been set up under the KiwiSaver Act to help you save for your retirement, you cannot withdraw funds from your kiwiSTART accounts until you become eligible to make a withdrawal.

Your kiwiSTART funds (including the $1000 kick-start and any member tax credits) will be available to you when you reach the age of entitlement to New Zealand Superannuation (currently 65), or when you have been a member of a KiwiSaver scheme for five years, whichever is the later. 

Earlier access may be provided in the event of:

  • Death
  • Serious illness
  • Emigration to countries other than Australia (excludes tax credits. Member tax credits are automatically repaid to the Government)
  • Significant financial hardship (excludes tax credits and Government kick-start payment)
  • First home purchase (excludes tax credits and Government kick-start payment)
  • Permanent emigration to Australia (only transfers to an authorised Australian superannuation scheme are permitted)

Further details can be found in our kiwiSTART Select and kiwiSTART Defined Investment Statements.

What are the costs?

Fees consist of the following:

Administration Fee

An administration fee of up to $30 per annum will be deducted from your kiwiSTART Account.

Management Fee

  • An annual fee of up to 1.25% per annum of the value of your kiwiSTART accounts is charged to cover the cost of maintaining your accounts, processing contributions and withdrawals, receiving and actioning correspondence and preparing account statements. This fee includes the trustee’s fee, the manager’s fee and the custodian’s fee and is deducted from your kiwiSTART accounts.

Where your kiwiSTART Scheme invests in a unit trust which is managed by Craigs Investment Partners Investment Management Limited and of which The New Zealand Guardian Trust Company Limited is the trustee (as is the case with the Defined Portfolios unit trusts), the management fee is not deducted from your kiwiSTART accounts in relation to those investments. Instead, your kiwiSTART scheme will be charged a management fee within the unit trust for management and trustee services which will have a corresponding effect on the value of the relevant investments in your kiwiSTART accounts.

Where a fee is charged within the unit trust, the applicable fees are:

  • Fixed Interest Fund and Conservative Fund. 0.75% p.a.
  • Balanced Fund, 1.00% p.a.
  • Balanced SRI Fund, Growth Fund, Equity Fund, New Zealand Equity Fund and Australian Equity Fund, 1.25% p.a.

In each case the fee is based on the value of each fund within the kiwiSTART Scheme. Where, you have chosen a selection of funds, the management fee will be charged within the unit trust, pro-rated to the amounts invested in each fund.

Self select portfolios of other nominated securities are charged a management fee within the kiwiSTART Select scheme of up to 1.25% per annum.

Please refer to the kiwiSTART Select and kiwiSTART Defined Investment Statements for further information.

Switching Fee

A fee may be charged if you switch investments or amend your investment direction more than once during a kiwiSTART Scheme year (1 April - 31 March). Currently no fee is charged, but brokerage expenses may be incurred when a switch is being executed.

Entry and Exit Fees

Entry and exit fees may be charged to members up to a maximum of 1.25% each of the amount contributed or withdrawn.

Other

We and the Trustee are also entitled to be reimbursed for all administration and management costs, which will be deducted from your kiwiSTART Account. By joining the Scheme you accept and authorise these types of deductions. There is no limit to the level of such reimbursement.

We reserve the right to change the above fees and to charge other types of fees from time to time. Further details on all fees are available in the kiwiSTART Select and kiwiSTART Defined Investment Statements.

How does kiwiSTART affect my New Zealand Superannuation?

kiwiSTART is designed to supplement your New Zealand Superannuation - to give you a better standard of living in retirement. New Zealand Superannuation is a universal benefit available to all New Zealanders once they reach the age of eligibility for New Zealand Superannuation (currently 65). kiwiSTART membership does not affect your eligibility for New Zealand Superannuation.

What happens if I die before I reach the age of entitlement?

The full value of your kiwiSTART account will be paid to your estate. In this instance, no tax is payable on the value of your account.

Who governs kiwiSTART?

kiwiSTART is:

  • Under-pinned by trust deeds
  • Regulated by the Financial Markets Authority
  • Monitored by an independent trustee - the New Zealand Guardian Trust Company Limited has been appointed as trustee of the schemes
  • Craigs Investment Partners Superannuation Management Limited is the manager of the schemes

For more information read our kiwiSTART Select or kiwiSTART Defined Investment Statements.

What is the difference between kiwiSTART Select and kiwiSTART Defined?

kiwiSTART Select and kiwiSTART Defined are both KiwiSaver personal superannuation schemes provided by Craigs Investment Partners. kiwiSTART Defined is constructed as a Portfolio Investment Entity (PIE) offering a range of risk based investment options which correspond to our Defined Portfolios unit trusts, and is a more tax efficient option for those with a marginal tax rate of 10.5% or 17.5%.

kiwiSTART Select offers you the opportunity to create your own portfolio from a list of nominated securities, or choose from our range of risk based investment options which correspond to our Defined Portfolios unit trusts, to suit your risk profile. kiwiSTART Select is not a PIE. Under current taxation law the earnings of kiwiSTART Select are taxable to the Scheme at 28% and its benefits are paid tax-free to members.

For more information read our kiwiSTART Select or kiwiSTART Defined Investment Statements.

What is the Balanced SRI (Socially Responsible Investing) Fund?

Balanced SRI Fund explanatory statement

The Balanced SRI Fund is one of eight Defined Portfolio unit trusts.

The objective of the Balanced SRI Fund is to grow the value of unit holders’ capital, relative to inflation, over the medium to long term. The fund will generally hold a diversified portfolio of growth and income assets.

The Balanced SRI Fund is a unit trust which has been developed and is managed by Craigs Investment Partners Investment Management Limited a wholly owned subsidiary of Craigs Investment Partners Limited.

Philosophy

The guiding philosophy of the Balanced SRI Fund is to endeavour to hold a diversified portfolio of investments that the manager considers to be environmentally and socially responsible, whilst still applying Craigs Investment Partners’ traditional portfolio investment criteria.

Currently, the manager does not actively screen for investments for the Balanced SRI Fund that have positive or negative governance practices. However, this consideration is taken into account in the overall assessment of the financial viability of an investment.

In selecting individual shares, funds and other investments for the Balanced SRI Fund to invest into, the manager will use a combination of positive and negative screening criteria. The criteria adopted will change over time as standards relating to corporate reporting and accountability and codes of conduct advance.

Negative screens

The manager will use its best endeavours to ensure that the Balanced SRI Fund will NOT be invested in companies engaging in the following activities:

  • Tobacco
  • Alcohol
  • Gambling
  • Armaments
  • Pornography
  • Nuclear weapons and the nuclear power industry

The manager will also use its best endeavours, using publicly available information (including annual reports issued by investment companies), social responsibility indices compiled by independent market observers (e.g. FTSE4Good industry series), along with any additional information from our in-house research resources, to ensure that no investment within the fund is engaged in poor labour practices, cruelty to animals or excessive environmental pollution. No formal definition, criteria or weightings are used in assessing these elements and each investment is screened separately.

Positive screens

Companies that will be considered are those that in the view of the manager:

  • Make a positive social contribution
  • Seek to minimise adverse environmental effects from their operations
  • Have strong governance practices, ethical standards and track records
  • Embrace triple bottom line reporting

The manager will use its best endeavours, using publicly available information (including annual reports issued by investment companies), along with any additional information from our in-house research resources, to ensure that investments within the fund do meet these criteria. There are no pre-determined relative weightings to these criteria. Available investments within this fund must meet Craigs Investment Partners Limited’s existing investment selection criteria.

In a practical sense, for international equity investments, managed fund and index funds, the manager will primarily focus on:

  • Companies that are members of recognised SRI indices such as the FTSE4GOOD index or the KLD Social Index
  • Managed funds that invest on an SRI basis, employing positive and/or negative screens
  • Exchange-traded funds based on an SRI index

In the event that a stock included within the fund is found to be in breach of the fund’s investment criteria, that holding will be divested as soon as practicable, and for the best price practically achievable.

The perception of the ethics of a company or industry can change from investor to investor, as well as over time. The manager aims to keep abreast of new technology and trends, as well as changes in public opinion, and will adapt as required. The manager retains the right to invest in companies that, at first glance, may not appear to fit the above criteria, if it deems that the negative effects of the company are outweighed by the positive.

Craigs Investment Partners' research team constantly monitors companies within the Balanced SRI Fund and recommends adjusting holdings on a needs basis. The Balanced SRI Fund is formally reviewed every 6 months.

For more information read our Defined Portfolio Investment Statement.

What socially responsible investing is there?

Responsible Investment

Responsible investment, including environmental, social, and governance considerations, is taken into account in the investment policies and procedures of our Schemes.

Responsible investment is taken into account in the investment policies and procedures of our Schemes in respect of the Balanced SRI (Socially Responsible Investment) Fund, a Defined Portfolios Unit Trust, to the extent set out in the policies and procedures described above. The Balanced SRI Fund in the Defined Portfolios unit trusts (in which the Balanced SRI Funds in the schemes invest) invests in companies that the manager of the Defined Portfolios unit trusts, Craigs Investment Partners Investment Management Limited (the Defined Portfolio Unit Trust Manager), believes make a positive social or environmental contribution, or that are endeavouring to operate in an environmentally and socially sustainable way, whilst still applying the Defined Portfolio Unit Trust Manager’s traditional portfolio investment criteria. The Defined Portfolio Unit Trust Manager uses both positive and negative screening in selecting investments for the Balanced SRI Fund. The Defined Portfolio Unit Trust Manager does not actively screen for investments for the Balanced SRI Fund that have positive or negative governance practices. However, this consideration is taken into account in the overall assessment of the financial viability of an investment.

As at the date of our latest Investment Statements, responsible investment considerations, including environmental, social and governance considerations, are not taken into account for the investment policies and procedures for the remaining Defined Portfolios unit trusts, being the Fixed Interest Fund, the Conservative Fund, the Balanced Fund, the Growth Fund, the Equity Fund, the New Zealand Equity Fund, and the Australian Equity Fund, or the Self-selected Portfolio investment options.

What is Prescribed Investor Rate (PIR)?

Visit our Tax Resources to find out more about PIR.

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Annual Reports, Periodic Disclosure Statements and Restructure Information

View the latest Annual Report, Periodic Disclosure Statements or the Scheme Restructure document for kiwiSTART Select. To request older Annual Reports, please contact your Investment Adviser or the START Team.

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Prospectus for the Craigs Investment Partners kiwiSTART® Select Scheme

The current prospectus for the Craigs Investment Partners kiwiSTART® Select Scheme is dated 20 September 2013 and was registered on: 23 September 2013. For a copy of the current prospectus please contact one of our Investment Advisers, phone 0800 272 442 or you can download a copy.  

 

Responsible Investing Policy
Pursuant to Section 205A of the KiwiSaver Act 2006, we are required to make available on our website a Responsible Investment Policy statement for every scheme that takes responsible investment into account in the investment policies and procedures of the scheme. Please view the Responsible Investment Policy for our schemes.

Disclaimer
The Craigs Investment Partners kiwiSTART Select Scheme (kiwiSTART® Select) is issued and managed by Craigs Investment Partners Superannuation Management Limited. The New Zealand Guardian Trust Company Limited is the trustee of kiwiSTART® Select. Craigs Investment Partners Limited, and those of its directors who are not also directors of the Manager, are promoters of kiwiSTART® Select. None of The New Zealand Guardian Trust Company Limited, Craigs Investment Partners Superannuation Management Limited, Craigs Investment Partners Limited (or any director of those entities) or any other person, guarantees the performance or returns of kiwiSTART® Select, or the return of capital. Investments made in kiwiSTART® Select are subject to investment and other risks (including those set out the investment statement and the prospectus) and are not guaranteed by the manager, the trustee or any other person.