We are the first provider offering such "flexible fund scheme," says firm
Bank of China New Zealand (BoC NZ) Wholesale Fund #1 has announced a return of 6.3% p.a. for the year ending September 30, 2018. The tax-effective nature of the PIE investment means no further New Zealand tax is payable by investors in the fund.
“This is a big difference to other QDII offerings that are available in the market,” BoC BZ asset management director Mark Ford said.
He noted that other investment structures “may not be as cheap as they look” after all fees and taxes.
In line with its second anniversary, BoC NZ launched a variation of the fund that allows investors to invest 25% in New Zealand equities and 75% in New Zealand bonds. The bank has already received the first tranche of investment into this new offering and will re-open the fund for further investment later in the year.
“We are the first QDII provider able to offer such a flexible fund scheme that aligns with Immigration New Zealand’s growth investment policy while also meeting the prudential requirements […],” BoC NZ associate director Pengbo Jiang said.
Immigration NZ immigration manager, business migration, visa services Jonathan Maitland commented: “Immigration New Zealand welcomes the expansion of investment options available to Investor Plus and Investor Two applicants through the Bank of China QDII initiative and hopes investors will look favourably at making a greater allocation to New Zealand growth assets as part of their immigration intentions.”
