- Provider website
- Minimum investment
$0
- Fund start date
23 September 2003
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 Market Conduct (Australian Scholarships Group Friendly Society Limited) Exemption Notice 2016 pursuant to Section 556 FMCA 2013 in relation to holding assets of scheme effective 5 December 2015
Mix data not available
There may be no data yet, or the data has issues. So this fund can't yet be compared to others, or to an average.
Mix
Fees
Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. Compare with the average fees for managed funds (in grey).
Returns
Returns (in green) show how much this fund has grown in value in five years up to 31 December 2024 – after fees and taxes. Compare with the average managed fund (in grey).
Key facts
Here is what the provider says about this managed fund
“ The Students Education Fund No. 2 (New Zealand) was established with the aim of assisting you in saving to help offset the cost of your children’s education. One of the key benefits of the Fund is a post-secondary Bursary Benefit that is paid to your child during each year that they successfully complete an approved post-secondary course (up to a maximum of three years). ”
When can you get your money out?
For this managed fund (i.e. not a KiwiSaver fund), see the section of the PDS on withdrawing funds and how this works. Also, look for information about how long it takes to actually get paid after requesting a withdrawal, whether regular withdrawals are possible, and how often.
Mix
Mix not yet available – there may be no data yet, or the data has issues. So this fund can't yet be compared to others, or to an average.
Fees
Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. You can compare these with fees for the average managed fund (in grey).
A comparison of averages is not available for this fund. See Mix details for more information.
Fees breakdown
Here's a breakdown of the different charges in this fund (in purple), compared to the average managed fund (in grey).
| Fee Type | % Over a Year | Amount Paid on a 10K Balance |
|---|---|---|
ManagementThis fee is charged to you by the fund manager on the fund or an underlying fund, and is based on a percentage of your balance. |
1.00%
|
$100.00
|
OtherThis is a summary of other potential costs not covered in the categories displayed. |
0.00%
|
$0.00
|
Performance-basedThese fees are based on the performance of the fund or underlying fund. When the fund performs well, these will be higher. |
None
|
$0.00
|
MembershipYou pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance. |
0.48%
|
$48.00
|
Total combined feesThese are a total of management and administration charges and performance-based fees over a year. They do not necessarily include fees for activities like transferring or withdrawing. |
1.48%
|
$148.00
|
Returns
For the past five years, this fund returned this average each year to investors (in green). This was after fees and taxes (28% PIR) were taken out. To compare, you can see the average return over the same time for all managed funds (in grey).
A comparison of averages is not available for this fund. See Mix details for more information.
Yearly returns
These annual returns (in green) were for the 12 months up to 30 June 2024. You can compare them to the average managed fund (in grey).
Risks
Specific risks for this fund
Chasing higher returns while investing always increases risks. Several kinds of risks, actually. It is important to evaluate whether the returns are worth it, whether you can cope, and whether this investment will in fact help you achieve your goals. Also, since the way an investment is structured can make it riskier, it's important to understand how it works.
You'll find the specific risks in the Risk section of the PDS, and here's more about understanding risk.
Student_Education_Fund_No2_(NZ)_010318.pdf
How this investment works, including about the provider, risks, costs and potential returns
Risk indicator
This is a gauge of how volatile this investment has been – how much it has gone up and down in value. It has been calculated based on the fund's five-year performance (or an appropriate market index if it has not been around that long).
The left side of this range of numbers indicates a Lower risk
The right side of this range of numbers indicates a Higher risk
- 1
- 2
- 3
- 4
- 5
- 6
- 7
The left side of this range of numbers indicates
Potentially
lower returns
The right side of this range numbers indicates
Potentially
higher
returns
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.
Student_Education_Fund_No2_(NZ)_010318.pdf
How this investment works, including about the provider, risks, costs and potential returns
Fund update (most recent)
This update from the provider lets you see much of the same information shown here in Smart Investor: how this fund is performing, what it costs and the investments it currently holds.
SEF # 2 NZ Dec 24 Quarterly Fund Update.pdf
The quarterly update published by the provider
Complete asset portfolio
Browse through the complete list of investments held by this fund.
fphfinalsep24SEF2NZ.xlsx
A complete list of the fund's holdings
Statement of investment policy and objectives (SIPO)
A SIPO tells you where the fund managers are coming from. It sets out the governance and management framework, philosophy, strategies and objectives for this investment.
Student's Education Fund (New Zealand) SIPO 29.06.2022 Final.pdf
Strategies and objectives for this investment
Key personnel
These are the directors and employees who have the most influence on investment decisions for this fund.
| Name | Current position | Time in role |
|---|---|---|
| SAM SONDHI | Chief Executive Officer | 1 year, 6 months |
| PETER TAUBMAN | Executive General Manager – Financial Services | 16 years, 1 month |
| KEVIN ROBERTS | Chief Financial Officer | 3 years, 1 month |
| JACQUELINE JENNINGS | Chair of the Investment Committee | 9 years, 2 months |
| NEELESH MEHTA | Investment Committee member | 2 months |
Additional details
Manager details
Name
FUTURITY INVESTMENT GROUP LIMITED
Type
Overseas Issuer And Financial Services Provider
Website
FSP Number
Supervisor
Name
COVENANT TRUSTEE SERVICES LIMITED
Fund details
Asset liquidity ratio
100.00%
Continuous issue
No
Default KiwiSaver
No
Lifecycle option
No
Multi-fund option
No
Schedule 1 exemption
No
FMA exemption
Yes: Financial Market Conduct (Australian Scholarships Group Friendly Society Limited) Exemption Notice 2016 pursuant to Section 556 FMCA 2013 in relation to holding assets of scheme effective 5 December 2015
Number of members
0
Reference numbers
Fund
FND3758: STUDENTS' EDUCATION FUND (NEW ZEALAND) NO. 2
Offer
OFR11821: STUDENTS' EDUCATION FUND (NEW ZEALAND) NO.2
Scheme
SCH11811: STUDENTS' EDUCATION FUND (NEW ZEALAND)
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.
Fund update (most recent)
These are provided to members of the fund (usually once each quarter) to update them on its performance.
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. asg.co.nz