There are some aspects of this fund which may require extra consideration before deciding to invest.
FMA exemption
Some funds are exempted from the disclosure requirements, so certain information may not be available for these offers. Or the information provided might be in a different form, given the bespoke nature of the offer. Here's more on Financial Markets Authority exemptions.
Financial Markets Conduct (EML Payment Solutions Limited) Exemption Notice 2021.
Restrictions on transfer
There are rules around transfering in and out of this investment, which may depend on eligibility. For example, overseas investors may not be able to transfer into some New Zealand managed funds. Or there may be restrictions on withdrawals, such as not until age 65 for KiwiSaver funds.
Issuer's description of this product:
OneSmart is an unsubordinated, unsecured debt security.
Minimum investment
This is the minimum amount you would need to put into this in order to invest.
Closing date
This offer does not have a closing date and is a continuous issue. It's likely you'll be able to invest for the forseeable future.
Maturity
This investment does not have a fixed date of maturity, which can mean flexible or multiple terms are available.
Rate
This investment offer does not have a single set rate. This may mean that the rate is variable or that there are multiple rates available.
Key facts
Provider website
Issuer's industry
Financial/insurance
Credit ratings
Credit ratings can help you understand whether your investment in bonds will pay or if you'll get your money back. They indicate the long-term ability of the issuer to repay its debts. See also the Reserve Bank's primer on credit ratings and a map of the three scales used by the rating agencies.
This is the credit rating for this particular bond or debt security.
Issuer credit rating
This is the credit rating for the organisation issuing the bond or debt security.
Maturity
Maturity conditions description
Your OneSmart facility does not itself expire, but the OneSmart Card cannot be used to access your OneSmart facility after the expiry date printed on the OneSmart side of your OneSmart Card. After this date, you will not be able to use your OneSmart Card to access money loaded onto your OneSmart facility (until you receive a replacement OneSmart Card and activate this). However, you can still Cash Out the balance on your OneSmart facility at any time. If you cease to be a member of the Airpoints Programme, you will not be able to continue using OneSmart and will need to Cash Out your OneSmart facility.
Rate
Rate calculation description
You will not earn any interest on money you have loaded onto your OneSmart facility.
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
Air NZ Onesmart Product disclosure Statement 14 July 2023.pdf
How this investment works, including about the provider, risks, costs and potential returns
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
Onesmart - Terms and Conditions.pdf
Statement regarding financial information and financial statements.pdf
Declaration of Trust.pdf
EML Financial Information Summary - OneSmart.pdf
OneSmart Ranking Table.pdf
20210831 - Air NZ Onesmart Terms & conditions v4.pdf
EML Financial Information Summary - OneSmart.pdf
OneSmart Ranking Table.pdf
EML Financial Information Summary - OneSmart.pdf
OneSmart Ranking Table.pdf
Air NZ Onesmart Terms & conditions 14 July 2023.pdf
EML FInancial Information Summary - OneSmart - 14 July 2023.pdf
OneSmart Ranking Table - 14 July 2023.pdf
EML Financial Information Summary - OneSmart FY23.pdf
OneSmart Ranking Table FY23.pdf
EML Financial Information Summary - OneSmart FY24.pdf
OneSmart Ranking Table FY24.pdf
Additional details
Issuer details
Name
EML PAYMENT SOLUTIONS LIMITED
Type
Overseas ASIC Company
Industry
Financial/insurance
Website
Registration number in country of origin
ACN 131 436 532
NZBN
9429048519045
FSP Number
Credit rating
Not provided
Supervisor
Name
COVENANT TRUSTEE SERVICES LIMITED
Offer details
Date registered
19 March 2021
Date opened
28 April 2021
Closing date
None
Continuous issue
Yes
Further payments may be required
Yes
Restrictions on transfer
Yes
Issuer can withhold, reduce, or delay payment
No
Convertible product
No
Intending to list
No
Schedule 1 exemption
No
FMA exemption
Yes: Financial Markets Conduct (EML Payment Solutions Limited) Exemption Notice 2021.
Reference numbers
Offer
OFR13052: ONESMART, A PREPAID PAYMENT FACILITY
Next steps
Want to know more about this investment or how it compares to others? Have a look at its peers.
Product disclosure statement
Take a deeper dive into the PDS, which has essential details about this offer and the company providing it. Here's more on how to read a PDS.
Getting investment advice
Good advice is gold. Everyone can benefit from expert advice, provided the adviser has your interests at heart. Here's how to find one and key questions to ask.
Interested in investing in this offer? Visit the provider's website. emlpayments.com