Kiwibank Investment Portfolio

Transcription

1 Kiwibank Investment Portfolio Introducing the Kiwibank Investment Portfolio Kiwibank Investment Management Limited 10 December 2015

2 Contents. 1 About the Kiwibank Investment Portfolio 2 Who is involved in the Kiwibank Investment Portfolio 3 How investing through the Kiwibank Investment Portfolio works 5 About Kiwibank 5 About AMP Investment Management (N.Z.) Limited 6 About AMP Capital Investors (New Zealand) Limited

3 About the Kiwibank Investment Portfolio We, Kiwibank Investment Management Limited, are pleased to distribute the Kiwibank Investment Portfolio. You can choose from the Kiwibank Investment Portfolio investment options to suit your investment profile, taking into account the level of risk you are prepared to accept and the anticipated return you would like. Attached with this brochure is the Product Disclosure Statement (PDS) for the three funds within the AMP Capital Investment Funds that we have selected to be a part of the Kiwibank Investment Portfolio (Funds). These are the: AMP Capital Responsible Investment Leaders Conservative Fund AMP Capital Responsible Investment Leaders Balanced Fund AMP Capital Responsible Investment Leaders Growth Fund. You are required to be given a copy of the PDS prior to investing in the Funds. The PDS sets out information in respect of the offer of units in the Funds (Units), including a description of each Fund. Please note that we have not prepared the PDS and are not responsible for its contents. This brochure sets out the way that your investment in the Funds through the Kiwibank Investment Portfolio will operate and provides more detail about those involved in providing the Kiwibank Investment Portfolio. You should read this brochure and the PDS, together with the information in each Fund s offers register entry at and any other relevant documentation (including the documents referred to in the table on pages 3 4) before making your investment decisions. You can obtain another copy of the PDS for the Kiwibank Investment Portfolio by calling or at kiwibank.co.nz. We have selected the Funds to form part of the Kiwibank Investment Portfolio, and we distribute the Funds. However, AMP Investment Management (N.Z) Limited is the manager of the Funds and the issuer of Units in them. Investments made in the Funds do not represent deposits or other liabilities of Kiwibank Limited, Kiwibank Investment Management, KB Custodial, New Zealand Post Limited or any other member of the New Zealand Post Group. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value. No person, including the Manager, AMP Capital, AMP Limited, Kiwibank, Kiwibank Investment Management, KB Custodial, New Zealand Post Limited or any other member of the New Zealand Post Group, any member of the AMP Group, The New Zealand Guardian Trust Company Limited as the supervisor of the Funds (Supervisor) or the Crown, guarantees the performance of the Funds or the return of capital invested by you. 1

4 Who is involved in the Kiwibank Investment Portfolio The following parties are involved in the Kiwibank Investment Portfolio: Distributor of the Funds Custodian for investments through the Kiwibank Investment Portfolio Investment and administration manager of the Funds Manager of the Funds and issuer of Units in them Kiwibank Investment Management Limited (we, us, our or Kiwibank Investment Management). We are a wholly-owned subsidiary of Kiwibank Limited (Kiwibank). KB Custodial Services Limited (KB Custodial). KB Custodial is a wholly-owned subsidiary of ours. AMP Capital Investors (New Zealand) Limited (AMP Capital). AMP Investment Management (N.Z.) Limited (Manager). The Manager is a wholly-owned subsidiary of AMP Capital. You can read more about these parties on pages 5 6. In addition, other parties are involved in the provision of the Funds, such as the Funds Supervisor and custodian. Please read the PDS for more information on these entities. 2

5 How investing through the Kiwibank Investment Portfolio works Set out in the table below is an outline of how investing through the Kiwibank Investment Portfolio works. More information on how investing in the Funds generally works is outlined in the PDS. Holding Units Making investments Withdrawals and switching Transfers When you invest in the Funds through us, your Units will be held by KB Custodial as a custodian on your behalf. Our investment in the Funds on your behalf will be subject to the terms and conditions of Units, including the terms set out in the PDS and the trust deed for the Funds (Trust Deed). For example, the fees and buy and sell spreads outlined in the PDS will apply to your investments through us. Although you will be the beneficial owner of the Units, as the registered holder only KB Custodial will be able to exercise any rights, benefits and entitlements in relation to the Units. For example, on a vote of Unit holders KB Custodial will vote or abstain from voting in such manner as it considers appropriate in its discretion. In addition to the services detailed in this brochure, Kiwibank provides services to investors, such as internet banking services. Accordingly, you should also refer to, and if you invest in the Funds, you are bound by, Kiwibank s General Terms and Conditions. These terms govern your use of these Kiwibank services. Kiwibank s General Terms and Conditions are available on Kiwibank s website at or at your local Kiwibank. KB Custodial s Terms and Conditions, which set out the basis on which it holds Units on your behalf and exercises those rights, benefits and entitlements as a Unit holder, are set out in the application form attached to this brochure. Lump sum When you invest through us, the minimum initial lump sum investment for each Fund is $2,000. Thereafter, the minimum additional investment is $500 per Fund. You must complete the application form attached to this brochure. The completed form, along with any additional information requested on the application form, can be provided to us at any Kiwibank branch or sent to the address on page 4 under Who to contact. Payments by cheque are to be made payable to: KB Custodial Services Applications Account. Applications may be refused for any reason. If accepted, we will apply for Units in the Fund or Funds you have chosen. Regular contributions Following the initial lump sum investment, you can also elect to make a regular contribution when you invest through us. Regular contributions must be a minimum of $50 per fortnight per Fund. Regular contributions can be made by automatic payment. If you are already a Kiwibank customer, you can set up an automatic payment from your Kiwibank account for your regular contributions by completing section 7 of the application form. If you are not a Kiwibank customer, please contact us on for assistance. If a payment is dishonoured or reversed, no Units will be issued in respect of that payment or any Units issued based on that payment will be cancelled. Any money paid to KB Custodial does not form part of the relevant Fund and neither the Manager nor the Supervisor has any obligations towards that money until KB Custodial pays it to those parties (or a nominated person of either of them) in return for the issue of Units. You may at any time make a repayment request of some or all of the Units held on your behalf. To make a withdrawal from a Fund you will need to contact us at the number below or send in a completed repayment or redemption form to the address listed below. Withdrawal forms can also be downloaded from the Kiwibank website at withdrawing-funds-form.pdf Once we receive your withdrawal form, we will submit a repayment request to the Manager. In normal circumstances payment will be made within 10 business days of when we receive a repayment request. Under the trust deed for the Funds (Trust Deed), payment is required to be made within 30 days of receipt by the Manager, and the Manager has the ability, in certain circumstances, to suspend redemptions. Any amount payable to you on repurchase or redemption will be credited (after any permitted deductions) to the New Zealand bank account nominated by you. The Manager may satisfy a repayment request in respect of the Funds by the transfer or in specie distribution of assets (meaning the assets are distributed In their actual form, rather than being sold and the result cash transferred). However, KB Custodial would need to agree to the transfer. You can also make a request to switch between Funds through us. To do so, you will need to contact us at the number below. You can transfer the Units held on your behalf to another person. However, KB Custodial is not required to comply with any request to transfer the Units to another person and may instead request the Manager to redeem or repurchase the Units. 3

6 Taxation Changes to the Kiwibank Investment Portfolio Where to find other information Who to contact If you have a complaint Anti-money laundering, countering financing of terrorism and sanctions Each Fund is a portfolio investment entity (PIE). You can find more information on the application of tax to investments in the Funds on the Funds offers register entry. However, please remember that KB Custodial will hold your Units in the Funds as a proxy for you. Accordingly, the Fund pays tax on the taxable income attributed to KB Custodial on your behalf at 0%. KB Custodial (as a proxy for you), and not the Manager, will pay tax on that income at your selected prescribed investor rate (PIR), and discharge other obligations relating to tax. This is because KB Custodial holds your Units on your behalf, as a custodian and proxy for you. Please see the IRD website ( to work out your PIR. If you are investing through us as a proxy you will be required to carry out the responsibilities set out above for the underlying investors you are responsible for and may be required to enter into contractual arrangements with us and KB Custodial regarding your compliance with the requirements of tax legislation. You will be liable to pay KB Custodial an amount equal to any losses liabilities, costs or expenses incurred by KB Custodial, the Manager and the Supervisor as a result of any breach (in relation to underlying investors that you are responsible for) of relevant PIE requirements under the Income Tax Act 2007 including the losses, liabilities costs or expenses arising from any Fund losing PIE status. If you receive a request from us or KB Custodial to provide information to enable the Manager to determine whether any Fund continues to meet PIE eligibility requirements you must supply that information within 30 days of the request. Please remember that tax legislation and rates of tax are subject to change. The impact of taxation may vary depending on your individual circumstances. It is important to seek professional taxation advice before you invest or deal with your investment in any way as the taxation treatment of your investment will be specific to your circumstances and to the nature of your investment. KB Custodial will act as proxy for tax purposes as outlined above. However, no person takes responsibility for your taxation liability. The terms and conditions of your investment may be altered by amendment to the current offers register entry for each of the Funds, the PDS, this brochure, Kiwibank s General Terms and Conditions, or KB Custodial s Terms and Conditions. The terms and conditions of the Trust Deed may only be altered by the Manager with the approval of the Supervisor and in accordance with the Trust Deed. We may direct KB Custodial to transfer the investments in any or all of the Funds to any other investment. You will receive at least 60 days written notice of any such transfer and have the opportunity to withdraw all of your investment in the relevant Fund(s) within that notice period. If the Manager suspends redemptions and repurchases, as referred to in the PDS, the investment will not be transferred or withdrawn until the Manager recommences redemptions and repurchases. KB Custodial will provide you with a statement of all Units held on your behalf on a quarterly basis. You will also receive, as part of KB Custodial s annual reporting, written advice of any funds received by KB Custodial on your behalf. In addition to the information set out in the PDS, you can find more information about each Fund on its online offers and schemes register entries at Inquiries and application and withdrawal forms should be directed to: Kiwibank Investment Management Limited Level 12, New Zealand Post House 7 Waterloo Quay Private Bag Wellington 5045 Telephone: Fax: (04) wealthadmin@kiwibank.co.nz Cheques should be sent to KB Custodial Services Ltd, care of us, at the above address. Any complaints or problems with the investment should in the first instance be directed to us at the address above. Please make any complaints to the attention of Kiwibank Customer Complaints. If you are still not satisfied with the outcome, you may make a complaint to the Banking Ombudsman at the following address (if your complaint is about Kiwibank, us, or KB Custodial): Office of the Banking Ombudsman Level 5, Huddart Parker Building 1, Post Office Square Wellington 6011 Telephone: or +64 (4) To complain about the Funds or other parties involved in the provision of the Funds, see the contact details in the PDS. We, the Manager and the other parties involved in providing the Kiwibank Investment Portfolio to you are subject to antimoney laundering, countering financing of terrorism and sanctions laws (AML Laws) in New Zealand and elsewhere. The AML Laws require a number of things including: verification of your identity and address before Units in the Funds are issued to you (and at certain times after that); monitoring of your transactions; reporting of any suspicious transactions to the Police; and the keeping of identity, address and transaction records about you. The AML Laws also prohibit a number of things, including issuing Units in the Funds to you until your identity and address have been verified. The AML Laws may also mean transactions you have requested are refused or delayed or the operation of your investment account is suspended. To assist in compliance with AML Laws, you are required to make a number of declarations when completing the application form to purchase Units in the Funds. 4

7 About Kiwibank Kiwibank s background Kiwibank is a wholly-owned subsidiary of New Zealand Post Limited, a state-owned enterprise under the State- Owned Enterprises Act New Zealand Post Limited is the main postal services provider in New Zealand. Kiwibank opened for business early in 2002, with the vision of making a difference to the New Zealand banking industry. Kiwibank sought to prove that there was room for a New Zealand-owned bank to profitably provide better service, better products, lower fees and better interest rates to New Zealanders. Kiwibank s strategy drew from the country s past, where historically there had been a bank operating through the Post Office network, and it looked to the future by embracing new technology and a new way of dealing with customers. Kiwibank s strategy is to capture and retain customers through offering high levels of customer service, competitive pricing and continuous innovation in financial products. Kiwibank currently employs about 1,200 staff across the country. Kiwibank s registration On 29 November 2001, Kiwibank was registered as a bank under the Reserve Bank of New Zealand Act Kiwibank is required to comply with the conditions of registration as laid down by the Reserve Bank of New Zealand. The conditions of registration include, but are not limited to: governance (including board composition); minimum capital levels; risk measurement processes; and quantitative liquidity risk management requirements. Kiwibank s full conditions of registration can be found in Kiwibank s latest Disclosure Statement and Annual Report at Kiwibank s principal activities Kiwibank offers a range of personal and business transactional banking, savings accounts, term deposits, home loans, credit cards and revolving credit products. Kiwibank intends to continually add to its product suite. About AMP Investment Management (N.Z.) Limited The Manager is the manager of the Funds and the issuer of Units in them and as such is responsible for the management and administration of the Funds in accordance with the terms of the Trust Deed. 5

8 About AMP Capital Investors (New Zealand) Limited AMP Capital is the investment and administration manager of the Funds. AMP Capital is a leading investment house managing around $19.2 billion for New Zealand investors (as at 31 October 2015). As a majority owned subsidiary of AMP Limited, AMP Capital operates independently with a pure investment focus, but benefits from the resources of its parent. AMP Capital s experience and leadership across asset classes not only provides insights into ever-changing markets, but also means AMP Capital is at the forefront of developing contemporary investment solutions for clients. Increasingly, delivering superior returns to clients involves looking beyond traditional techniques to a new generation of investment portfolios. These require the blending of any number of inputs such as securities, asset classes, countries, styles and even managers to obtain the optimal risk and return outcome. To do this well requires real depth of in-house investment expertise, a business philosophy open to partnering, and specialist capabilities designed to integrate and maximise the two. At AMP Capital, there are specialist investment teams across a diverse range of disciplines. Each team focuses on searching out and creating the best investment outcomes for clients. AMP Capital also collaborates with like-minded investment specialists around the world, leveraging our joint expertise to create new investment opportunities. This investment approach capitalises on the strength and breadth of AMP Capital s investment expertise and is characterised by three distinctive capabilities: Multiple perspectives: research drives every investment decision. Specialist investment teams interact, sharing knowledge and insights to gain multiple perspectives. This diversity of thought allows AMP Capital to see things differently, often producing unique insights that create new ways to add value to clients portfolios. Access to rare investment opportunities: scale, brand and relationships give AMP Capital a competitive edge in deal sourcing and origination. This access to rare assets opens up new and different investment opportunities for clients. Progressive portfolio construction: the new generation of investment portfolios demand increasingly complex portfolio construction decisions. With this in mind, AMP Capital has developed proprietary skills and processes that allow it to select and blend a wide range of investment inputs, from individual securities to the right investment partner. AMP Capital uses these skills to meet the diverse risk return objectives of AMP Capital s clients. Underpinning these capabilities are AMP Capital s people. AMP Capital seeks to attract the best people, invest in their ongoing professional development, and ensure that their interests are clearly aligned with those of AMP Capital s clients. The combination of scale, breadth and capability provides access to superior investment opportunities. Reliably, consistently, repeatedly. 6

9 Kiwibank Investment Portfolio Application Form Kiwibank Investment Management Limited, Private Bag 39888, Wellington AMP Investment Management (N.Z.) Limited is the manager of the Funds described in the brochure to which this application form is attached (each a Fund and together the Funds ) and the issuer of units in them. We have selected the Funds to form part of the Kiwibank Investment Portfolio. AMP Capital Investors (New Zealand) Limited is the investment and administration manager of the Funds. We are a distributor of the Funds. KB Custodial Services Limited (one of our wholly-owned subsidiaries) is the custodian which holds units in the Funds ( Units ) purchased through us on behalf of investors. More information on the parties involved in the Kiwibank Investment Portfolio and Funds is set out in the brochure. By completing this application form you are requesting KB Custodial Services Limited to purchase Units and to hold those Units as the registered holder on your behalf. As the registered holder, only KB Custodial Services Limited will be able to exercise any rights, benefits and entitlements in relation to the Units and all communications relating to your interest in a Fund will be made through KB Custodial Services Limited or us. By signing this application form, you acknowledge that you were given the product disclosure statement for the Funds prior to making an application for Units. 1. Your details Investor Please print your details clearly in CAPITAL letters, using a pen. Title Mr Mrs Ms Dr Other Please specify First name(s) Surname Address Suburb Mobile [ ] Date of birth address Are you an existing Kiwibank customer? Yes No If yes, what s your access number? Town/City Postcode Postal address (if different to above) Suburb Town/City Contact numbers Home [ ] Work [ ] 2. Your details Joint investor Postcode IRD number NB: without an IRD number we can t establish your investment PIR NB: 1. If no PIR indicated, the default rate is 28% 2. Highest PIR for joint investors accounts will be applied. If you re unsure about your PIR you can determine this at Title Mr Mrs Ms Dr Other Please specify First name(s) Surname Address Suburb Mobile [ ] Date of birth address Are you an existing Kiwibank customer? Yes No If yes, what s your access number? Town/City Postcode Postal address (if different to above) Suburb Town/City Contact numbers Home [ ] Work [ ] Postcode IRD number NB: without an IRD number we can t establish your investment PIR NB: 1. If no PIR indicated, the default rate is 28% 2. Highest PIR for joint investors accounts will be applied. If you re unsure about your PIR you can determine this at 3. How would you like to receive your correspondence? Please choose one of the following options: Post 4. Application details for non-personal applicants Type of entity Partnership Corporate Trust Other Please specify Name of entity IRD number NB: without an IRD number we can t establish your investment PIR NB: 1. If no PIR indicated, the default rate is 28% 2. Highest PIR for joint investors accounts will be applied. If you re unsure about your PIR you can determine this at 7

10 4. Application details for non-personal applicants (con t) Contact details First name(s) Surname Position in entity Postal address Town/City Postcode Home [ ] Work [ ] Mobile [ ] Date of birth address How would you like to receive your correspondence? Please choose one of the following options: Post Details of Owners/Trustees/Directors etc (each a Principal, together the Principals ) MANDATORY FIRST PRINCIPAL: Are you an existing Kiwibank customer? Yes No If yes, what s your access number? Title Mr Mrs Ms Dr Other Please specify First name(s) Surname Home [ ] Work [ ] Mobile [ ] Date of birth My personal IRD number NB: without an IRD number we can t establish this investment My personal PIR number NB: If no PIR indicated, the default rate is 28% SECOND PRINCIPAL: Are you an existing Kiwibank customer? Yes No If yes, what s your access number? Title Mr Mrs Ms Dr Other Please specify First name(s) Surname Home [ ] Work [ ] Mobile [ ] Date of birth My personal IRD number NB: without an IRD number we can t establish this investment My personal PIR number NB: If no PIR indicated, the default rate is 28% THIRD PRINCIPAL: Are you an existing Kiwibank customer? Yes No If yes, what s your access number? Title Mr Mrs Ms Dr Other Please specify First name(s) Surname Home [ ] Work [ ] Mobile [ ] Date of birth My personal IRD number NB: without an IRD number we can t establish this investment My personal PIR number NB: If no PIR indicated, the default rate is 28% 5. Additional Tax Details It is mandatory to provide the US taxation status of all applicants, even if they are also a taxpayer in New Zealand. You do not need to complete this section if the application is in the name of a Superannuation Scheme which is registered in New Zealand. INDIVIDUALS AND JOINT OWNERSHIP Please indicate if you are a United States (US) citizen or resident for US tax purposes. Applicant 1 Yes No Applicant 2 (if applicable) Yes No If yes to the preceding question, please provide your US Taxpayer Identification Number (TIN). For individuals, this is your Social Security Number (SSN). APPLICANT 1 SSN (numeric values only) APPLICANT 2 (IF APPLICABLE) SSN (numeric values only) 8

11 5. Additional Tax Details (con t) NON-INDIVIDUALS (ENTITIES) 1. Is the entity a United States (US) company, US partnership or US trust for US tax purposes? Yes No If yes to Question 1, please provide the US Taxpayer Identification Number (TIN) or exemption code if the entity is an exempt payee. For entities, the TIN is the Employer Identification Number (EIN) of the company, partnership or trust. EIN (numeric values only) Or Exemption code (If the entity is either a US company, US partnership or US trust and you have completed this question, please go to Section 6.) 2. If the entity is a financial institution, please provide either: a) The entity s Global Intermediary Identification Number (GIIN); Or b) The FATCA status of the entity (If the entity is a financial institution and you have completed this question, please go to Section 6.) 3. (If no to Question 1 and Question 2 is not completed) Does the entity have one or more individuals who are US citizens or residents for tax purposes who directly or indirectly: have more than a 25% interest in the company or partnership; Yes No is/are a trustee, beneficiary, or otherwise control(s) the trust? Yes No If yes to Question 3, you will need to provide AMP Capital with the name, residential address and TIN of each US person. US PERSON 1 US PERSON 2 Full Name Full Name Residential Address Not a PO Box Residential Address Not a PO Box Unit Number Street Number Unit Number Street Number Street Name Street Name Suburb/Town Suburb/Town State State Country Postcode Country Postcode US Taxpayer Identification Number (TIN) (numeric values only) US Taxpayer Identification Number (TIN) (numeric values only) If there are more than 2 US Persons, please write their details on a separate page and attach to this form. Further information about Additional Tax Details section can be found by searching the key term FATCA on the following websites: or 6. Application details Investment options Single investment Regular investment (Mandatory, Minimum $2,000) (Optional, Minimum $50 per fortnight per Fund) AMP Capital Responsible Investment Leaders Conservative Fund $. $. AMP Capital Responsible Investment Leaders Balanced Fund $. $. AMP Capital Responsible Investment Leaders Growth Fund $. $. Total $. $. For single investment options I/We have enclosed a cheque for $ For regular investments please insert the annual total you will pay. Payments by cheque are to be made to KB Custodial Services Applications Account. I/We have completed a one-off transfer of $ 9

12 7. Details of automatic payment for regular investments existing Kiwibank customers only Frequency: Monthly Fortnightly Start date Cannot be the first or last day of any month Payment account: Bank Branch Account number Suffix Name of bank account (account holder): Leave blank if a bank deposit slip is attached To appear on your bank statement: Particulars Code/Reference 8. Nominated Account details Please complete the details of your/the entity s Nominated Account below. This is the account to which any withdrawals or distribution payments will be made. Payment account: Bank Branch Account number Suffix Name of bank account (account holder): Leave blank if a bank deposit slip is attached If the bank account noted is a third party account please confirm the relationship between yourself and the third party below: To appear on your bank statement: Particulars 9. Agreements Terms and Conditions and Declaration Each person who signs this application form confirms and agrees as follows: If I am signing this application form as a trustee/director/officer/partner owner/ other equivalent person (a Principal ) of a trust/company/incorporated society/other equivalent entity (the Entity ) who is applying through Kiwibank Investment Management Limited (the Distributor ) to invest in any of the funds described in the brochure to which this application form is attached (each a Fund and together the Funds ), I have signed this application form, and confirmed and agreed the matters set out in this declaration, in my personal capacity, and as a Principal of the Entity. I have read and am bound by (and, if I am a Principal, agree to procure that the Entity will be bound by) the product disclosure statement for the Funds dated 8 December 2015 and the brochure relating to the Kiwibank Investment Portfolio to which this application form is attached. I provide the agreement and confirmation referred to in the immediately preceding bullet point for the benefit of KB Custodial Services Limited (the Custodian ), the Distributor, and AMP Investment Management (N.Z.) Limited (as the issuer of the Funds) (the Manager ), and acknowledge that a copy of this application form and accompanying documents will be provided to the Manager. That the Custodian shall subscribe for the units in the Funds specified in section 6 of this application form (the Units ) and that the Units will be held by the Custodian on the terms and conditions set out below and in the brochure. That all the information in this application form is true and correct and I will notify the Distributor if there is any change to such information. The trust deed for the Funds (the Trust Deed ) will be binding on me or, if the Entity is incorporated, the Entity as if I/the Entity was the registered holder of the Units. The terms and conditions of the Custodian set out below will be binding between the Custodian and me or, if the Entity is incorporated, the Entity. I have referred to and agree to be bound by (and agree or confirm where relevant, that the Entity is bound by) Kiwibank Limited s (Kiwibank) General Terms and Conditions. I agree that I am, or, where the Entity is incorporated, I confirm that the Entity is, liable to the Distributor, the Custodian, Kiwibank, the Manager, AMP Capital Investors (New Zealand) Limited ( AMP Capital ), The New Zealand Guardian Trust Company Limited (the Fund Supervisor ) and any authorised agents of any of them (each an Indemnified Party and together the Indemnified Parties ) for, and indemnify those entities against, any liability, loss, cost, expense, claim or proceeding arising if any information in this application form is incorrect, or anything I have/the Entity has agreed to do, confirm or procure is not complied with. All information about me provided by me ( Personal Information ) is covered by the Privacy Act My rights in relation to Personal Information are governed by the Privacy Act My Personal Information may be kept on file by the Manager, AMP Capital, the Fund Supervisor, Kiwibank, the Distributor, the Custodian, New Zealand Post Limited and other members of the New Zealand Post Group and any person or organisation that arranged the investment for me/the Entity. The Personal Information may be used and disclosed for the purposes of administering my/the Entity s investment in the Funds, including to enable the Distributor, the Custodian and Kiwibank to perform their respective functions, provide, or offer services to me/the Entity, and for any other purpose permitted by Kiwibank s General Terms and Conditions for personal banking or Kiwibank s General Terms and Conditions for business banking (as applicable). The 10 Manager and the Distributor may disclose information from time to time relating to my/the Entity s investments (including Personal Information) to: Code/Reference (i) agents involved in the provision of administration or custodial services to the Funds or the Distributor or the Custodian (which agents may themselves use such information in the performance of their functions) or for regulatory purposes including the AML Laws (defined below); (ii) any other person involved in arranging any other investment to which my/the Entity s investment in the Funds may be transferred; and (iii) any other person permitted by Kiwibank s General Terms and Conditions for personal banking or Kiwibank s General Terms and Conditions for business banking (as applicable). During normal working hours I am entitled to see any Personal Information the Manager, AMP Capital, the Fund Supervisor, Kiwibank, the Custodian, or the Distributor holds about me. If I believe that any of the details are incorrect, I may ask for a correction to be made. If for any reason the correction requested is unable to be made, details of my request will be permanently attached to my Personal Information. Notwithstanding the foregoing, I acknowledge that where a suspicious transaction report has been made about me/the Entity, the person who has made that report is not able to give me/the Entity access to any information about that report (including its existence) and I/the Entity have no right to request information in the report be corrected. I/the Entity (as applicable) will not be able to make any redemption or repurchase of my/the Entity s Units until the Distributor has received my/the Entity s signed request and any photographic identification required. I have/the Entity has not received any investment advice from the Distributor, the Custodian or Kiwibank in respect of investment in the Funds, unless otherwise indicated in the adviser declarations section. It is my duty to understand the value of, and the risks associated with, such investment. My signature on this application form is my true signature. Each Indemnified Party (or any authorised agent) can, but is not required to, accept and act on any document or transaction authorised in this application form. The terms and conditions in or referred to in this application form will remain in force and effect until they are varied by the Custodian (for KB Custodial s Terms and Conditions) or the Distributor (for the rest of the terms and conditions in this application form), by giving me/the Entity notice (as notice is defined in Kiwibank s General Terms and Conditions. I acknowledge the Indemnified Parties are subject to anti-money laundering, countering financing of terrorism and sanctions laws (AML Laws) in New Zealand, Australia and elsewhere. I agree not to do anything that could cause any Indemnified Party to breach the AML Laws. I agree to provide each Indemnified Party with all information and other assistance it reasonably requires to comply with the AML Laws. I agree that no Indemnified Party shall be liable to me/the Entity or anyone else for any refusal to process or delay in processing a transaction I/the Entity has requested or a suspension of my/the Entity s investment account in accordance with the AML Laws. I represent and warrant that I/we have no cause to believe the funds used to purchase Units in the Funds are the proceeds of crime or will be used to finance terrorism. If I have signed this application form as a Principal of an Entity, in addition to the above I also confirm and agree as follows: I am a properly appointed Principal of the Entity and am authorised by every other Principal and the Entity (where relevant) to sign this application form on behalf of the Entity. The Entity is properly constituted, incorporated (where relevant) and validly existing under New Zealand law.

13 9. Agreements (con t) As far as I am aware, no action has been taken to terminate or wind up the Entity. If a Principal who signs this application form is removed, I will promptly advise the Distributor and provide a replacement application form. I will ensure that all amounts payable to any Indemnified Party will be paid to that Indemnified Party prior to any money (or other distribution of whatever nature) being paid to any beneficiary or shareholder upon winding up, termination or expiry of the Entity. If the Entity is a trust (the Trust ), I confirm and agree the following: (a) The Principals who signed this form are all of the trustees of the Trust (the Trustees ) and all of the Trustees have been properly appointed. (b) The Trust is properly constituted under New Zealand law by a trust deed that is in full force and effect. (c) The Trustees have the power or authority to hold on trust the assets of the Trust and to carry on the business of the Trust. (d) The Trustees have the right to be fully indemnified from the Trust assets in respect of the Trustees obligations under or referred to in this application form, and those assets are sufficient to satisfy that right of indemnity. (e) Each Indemnified Party s rights against the Trustees rank in priority to the interests of the beneficiaries of the Trust. (f) No property of the Trust has at the date of this declaration been re-settled, set aside or transferred to any other trust other than in accordance with the Trust s trust deed. (g) I am not aware of any of the Trustees being in default under the Trust s trust deed. (h) In my capacity as Trustee of the Trust I will promptly exercise my right of indemnity from the assets of the Trust in respect of my obligations to each Indemnified Party, and not do anything without an Indemnified Party s consent which restricts or releases my right of indemnity from the assets of the Trust in respect of my obligations to that Indemnified Party. (i) Any Trustee named below as a limited liability trustee is liable only to the extent of the value of the assets of the Trust available to meet that Trustee s liability, plus any amount by which the value is diminished by the breach of trust caused by the relevant Trustee s wilful default or dishonesty. KB Custodial s Terms and Conditions Each person who signs this application form confirms and agrees as follows: Units and Money Held on my/the Entity s Behalf The Units that I/the Entity (as applicable) apply for in this application form will be registered in the name of the Custodian, which will hold them as my/ the Entity s nominee on the terms and conditions set out below ( KB Custodial s Terms and Conditions ). The Custodian will hold any funds it receives from me/the Entity, or to my/the Entity s order, or money it receives in respect of Units held on my/the Entity s behalf: (a) as my/the Entity s nominee; and (b) in non-interest bearing bank account(s) designated for money held by the Custodian as nominee. The Custodian will keep records of the funds held in any such bank account(s) on behalf of each investor in accordance with relevant law. The Custodian will endeavour to invest any funds received from me/the Entity for that purpose, and endeavour to pay any funds received to my/the Entity s order, or in respect of my/the Entity s Units, to the account nominated for that purpose (the Nominated Account ), as soon as practicable after receiving it. Any funds paid to the Custodian do not form part of the relevant Fund, and neither the Manager nor the Fund Supervisor have any obligations towards those funds, until the Custodian pays those funds to the Manager or Fund Supervisor (or a nominated person of either of them) in return for the issue of Units. Redemption/Repurchase/Switch/Transfer Instructions I/the Entity (as applicable) may instruct the Custodian to request the Manager to redeem, repurchase, switch or transfer any Units held on my/the Entity s behalf. The Custodian will endeavour to implement my/the Entity s instructions, but is not required to: (a) do so where that would breach the Trust Deed or any applicable law; or (b) comply with any request to transfer the Units to me/the Entity or any other person. The Custodian may, in its discretion, instead request the Manager to redeem or repurchase the relevant Units and the Custodian will then pay the redemption or repurchase proceeds to me/the Entity. The Custodian will not be able to arrange the redemption, repurchase, switch or transfer of any Unit where the Manager refuses to follow that instruction (in accordance with the provisions of the Trust Deed). Voting and Other Instructions Other than as expressly provided in KB Custodial s Terms and Conditions, the Custodian is not required to follow any instruction I/the Entity may give it in respect of the Units. The Custodian will exercise or abstain from exercising any voting rights attached to Units held on my/the Entity s behalf as it sees fit. Corporate Actions Any distributions, proceeds or other amounts received by the Custodian as a result of a corporate action in relation to Units held on my/the Entity s behalf will be held in or converted to New Zealand dollars and paid to my/the Entity s Nominated Account as soon as practicable after they are received. Any new Units received by the Custodian as a result of a corporate action in relation to Units already held on my/the Entity s behalf by the Custodian will also be held by the Custodian as nominee in accordance with KB Custodial s Terms and Conditions. Transfer by Distributor to New Investments The Distributor may direct the Custodian to transfer my/the Entity s investment in any Fund to another investment. The Distributor must give me/ the Entity at least 60 days written notice of the proposed transfer, and the opportunity to withdraw my/the Entity s investment in the relevant Fund(s) within that period (subject to the Manager s power to suspend redemptions, repurchases and transfers under the Trust Deed). Reporting The Custodian will provide me/the Entity with a statement of all Units held on my/the Entity s behalf on a quarterly basis. I/the Entity will also receive, as part of the Custodian s annual reporting, written advice of any funds received by the Custodian on my/the Entity s behalf. Use of Securities or funds Except as expressly provided above, the Custodian may not use any Units or funds held on my/the Entity s behalf for the benefit of any other person. Limitation of Liability and Indemnity The Custodian will not be liable for any liability, loss, cost, expense, claim or proceeding incurred as a result of: (a) acting and relying in good faith on instructions which it believes in good faith to have been given by me/the Entity, or a person authorised by me/ the Entity; (b) the actions or omissions of any third party engaged by the Custodian, provided that the Custodian selected the third party in good faith and with reasonable care; (c) the actions or omissions of the Manager or any affiliate of it; (d) any matter outside the Custodian s reasonable control; and (e) delays in processing my/the Entity s instructions or investing or paying funds for any reason whatsoever, provided that the Custodian has acted in good faith. I or, where the Entity is incorporated, the Entity will indemnify the Custodian in respect of any losses, liabilities, costs or expenses the Custodian incurs as a result of: (a) acting and relying in good faith on instructions which it believes in good faith to have been given by me/the Entity, or a person authorised by me/ the Entity; (b) being the registered holder of the Units (including any tax liability or other amount owing to the Funds under the Trust Deed in relation to Units held by the Custodian on my/the Entity s behalf), except to the extent it results from gross negligence, wilful misconduct or wilful default of the Custodian. I or, where the Entity is incorporated, the Entity will pay to the Custodian an amount equal to the aggregate of any losses, liabilities, costs or expenses incurred by the Custodian, the Manager, and any Fund arising from any breach in relation to my/the Entity s Units of the investor interest size requirements under the Income Tax Act 2007, or the investor membership requirements under the Income Tax Act 2007, including any losses, liabilities, costs or expenses arising from any Fund losing status as a portfolio investment entity under the Income Tax Act Rights to Sell and Set-off The Custodian may sell any Units held on my/the Entity s behalf and/or apply the proceeds toward satisfying any liability owed by me/the Entity to the Custodian, the Distributor, or Kiwibank. The Custodian and Kiwibank may set off any liability owed by me/the Entity to the Custodian, Kiwibank or the Distributor against any funds held at any time by either the Custodian or Kiwibank. These provisions are for the benefit of, and intended to be enforceable by, Kiwibank under the Contracts (Privity) Act This application will remain in force and in effect until it is replaced or superseded or your investment is redeemed or repurchased.

14 10. Individual and Joint Applicant to sign Your signature(s) (all investors must sign) Signature investor Signature investor I give permission for my address to be used for sending me information about accounts and services that Kiwibank thinks might be of interest to me. Investor Please tick Date I give permission for my address to be used for sending me information about accounts and services that Kiwibank thinks might be of interest to me. Investor Please tick Date Application non-personal To be signed by all Principals FIRST PRINCIPAL: Full name Trustee/Limited Liability trustee* Signature SECOND PRINCIPAL: Full name Trustee/Limited Liability trustee* Signature THIRD PRINCIPAL: Full name Trustee/Limited Liability trustee* Signature * Delete option which does not apply (where relevant) Adviser to complete Identity verification of new applicant Identity verification must be completed in all cases where the applicant has not completed the prescribed AML/CDD requirements. Declaration (to be completed by adviser) I have completed the AML/CDD verification process as required by Kiwibank. I have no reason to believe that each person listed above is not who he or she claims to be. I have given the customer(s) advice in relation to selecting this product. Signature Adviser details Date Adviser name Adviser number FM3304 DEC15

15 BR5262 DEC15