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 (Disclosure Using Overseas GAAP) Exemption Notice 2021

Convertible financial product

This is an investment that may become changeable, or change, into another kind of investment. Convertibles are usually bonds or preferred shares that can be converted into common stock. They may offer protection against heavy losses, but also typically give up some increases in value.

The Notes are unsecured subordinated debt obligations of IAG. The Notes may convert into fully paid ordinary shares in the capital of IAG in certain circumstances.

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 can withhold payment

In this case, the provider of this investment may not pay investors back straight away. This is important to know and acknowledge as you research investments.