1. Private Wealth Services
An overview of the investment services and
tailored solutions we offer private investors.
2. 2 Private Wealth Services Brochure - 04/15
Contents
Welcome to Craigs Investment Partners 1
Our Firm 2
The Research Behind Our Advice 3
Managed Portfolio Service 4
Broking Services 5
Savings Solutions 6
Foreign Pension Transfer Services 6
QuayStreet Asset Management 7
Next Steps 8
3. 1
Welcome to Craigs Investment Partners
Craigs Investment Partners is a specialist private wealth investment manager. We offer
professional investment advice for private investors, along with a broad range of portfolio
management, broking services and savings solutions.
Our approach is collaborative and personal. We work alongside our clients to guide
them through the investment process to develop solutions that best suit their objectives
and to manage risk.
We have been in the business of providing bespoke investment advice since 1984.
Craigs Investment Partners is one of New Zealand’s leading investment advisory firms
with over 120 Investment Advisers in 17 branches located throughout New Zealand. As at
the end of January 2015 we have over $9.5 billion of client funds under management.
Our firm offers a broad range of investment services through our national network
of experienced and qualified Investment Advisers. We have access to major markets
and undertake our own research, providing insightful market intelligence on local and
overseas markets.
Many of our clients invest through our premium service, the Managed Portfolio Service.
This takes care of every aspect of investing; developing and managing a portfolio, advising
on security selections, broking, cash management, administration and performance
and tax reporting. Each client has a dedicated Investment Adviser who provides a
personalised investment strategy. Clients in the Managed Portfolio Service also have
preferential access to our research.
We offer the full suite of traditional transactional broking services. We can buy and sell
local and global equities and other tradeable investment products on behalf of clients.
We also offer an administration service to simplify the on-going management of your
investments and tax reporting.
Complementing these services is our range of savings solutions, including KiwiSaver and
superannuation as well as Foreign Pension Transfer Services and Funds Management.
The cornerstone of our firm is building long-term relationships with our clients, by
understanding their needs and providing advice and services that best suit their situation
and objectives.
I invite you to read this brochure. It provides a short outline of the range of services
we offer. If you would like any further information please feel free to talk to one of our
Investment Advisers.
We look forward to working with you.
Frank Aldridge
Managing Director
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Craigs Investment Partners has been a Participant Firm of the New Zealand Stock Exchange since 1984 and has grown to
become one of the largest advisory firms in the country. Our Investment Advisers draw on a range of expertise across the
firm. We have experienced specialist teams in research, trading, portfolio management, reporting and administration.
We bring this knowledge and experience together to deliver expert advice, extensive research and personal service to
our clients.
Our Clients
If you need any assistance with
investing, we can help. Our clients
include individuals, families, charitable
trusts, businesses and community
organisations. Whether you are new to
investing, perhaps starting a savings
plan or already have an existing
portfolio, we have services to suit your
individual needs.
Advice and Research
Markets are dynamic and complex.
We monitor markets on your behalf,
drawing on our expertise to interpret
developments, assess opportunities
and risks and consider strategies that
can protect or enhance your portfolio.
We believe informed decision making
that is supported by research is the
foundation of astute advice. That is why
our Investment Advisers are supported
by one of the largest research teams in
New Zealand. Our research reports are
also available to clients.
Personal Service
We believe in the strength of client
relationships and personal contact. Our
nationwide network of offices provides
our clients with ready access to their
Investment Adviser.
Our Firm
We are one of New Zealand’s leading investment advisory and sharebroking firms with
17 branches providing local service to a wide range of clients.
We work alongside our clients to guide
them through the investment process
and develop solutions that best suit
their financial objectives and risk profile.
We offer a range of investment services
for our clients. Which service is best
for you will depend on how actively you
want to be involved in the management
of your investments and how
comfortable you are with monitoring
your portfolio and managing risk.
Our core services include our Managed
Portfolio Service, Broking Services and
Savings Solutions.
Quality
We recognise how important quality
is. Clients can invest with Craigs
Investment Partners knowing that,
as an NZX Participant Firm with
Authorised Financial Adviser (AFA)
accredited Investment Advisers, we
adhere to strict compliance regulations
from both the NZX and New Zealand’s
financial regulator – the Financial
Markets Authority (FMA).
All our Investment Advisers are
either qualified with NZX and AFA
accreditations or in the process of
qualifying. These credentials give
our clients confidence that they are
partnering with an Investment Adviser
who is knowledgeable and acts within
defined professional standards.
Whangarei
Tauranga
Gisborne
Wellington
Christchurch
Kerikeri
North Shore
Auckland
Hamilton
Rotorua
New Plymouth
Wanganui
Palmerston North
Blenheim
Dunedin
Invercargill
Gore
5. 3
Our Research Approach
Our research approach has three
elements;
» At the highest level is the on-going
work we do on developing sound
investment strategies and efficient
portfolios.
» We assess the economy and
financial markets to ascertain if
there are any tactical positions that
should be put in place to either take
advantage of market opportunities to
access higher potential returns, or to
reduce risk.
» Complementing this research is
analysis from our team of analysts
who undertake fundamental
research on individual securities,
across both equity and fixed
income markets. We combine their
research on individual securities
with our strategy and tactical work
to develop model portfolios and
recommendations.
The Research Behind Our Advice
Our advice is supported by one of the largest research teams in New Zealand.
Extensive Coverage
We provide broad research coverage in
New Zealand and cover a range of fixed
income issuers, over fifty New Zealand
listed companies and a large number
of Australian and global companies.
We also cover a selection of exchange
traded funds, investment trusts,
closed-end funds and managed funds.
We are able to draw on a broad range
of research from our associate firms
around the world.
The firm’s investment committee,
made up of senior employees, provides
guidance on portfolio construction and
strategy.
Our research team produce reports
on shares, fixed income, markets, the
economy and portfolio strategy. These
research reports are available to clients.
Our Investment Advisers are fully
briefed on the markets. Our working day
starts with a research conference call
each morning. Our Investment Advisers
from across the country join the call with
our research team to discuss markets,
companies and any research released
that day. We regularly have guests on
this call, including company CEOs and
Fund Managers.
We believe the quality of our research
is a key point of difference. Our
research underpins the advice we
provide clients, who benefit through
detailed recommendations and regular
research reports.
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Managed Portfolio Service
Our Managed Portfolio Service is our premium service. It is suitable for people who are seeking
an investment service that takes care of everything from receiving personalised investment
advice through to administration and detailed performance and tax reporting.
By joining over 7,000 clients who already use our Managed Portfolio Service you will have
access to a full range of investment services.
Personalised Advice and Portfolio
Management
As a Managed Portfolio Service client
you have a dedicated Investment
Adviser who will build a long-term
partnership with you and provide
personalised advice and service.
A key part of this process is the
completion of a discovery profile which
looks at your current situation and
objectives. Your Investment Adviser will
complete this with you. This background
information is essential to ensure we
provide advice that is appropriate for
you. Your Investment Adviser will then
prepare an Investment Policy Statement
that provides guidelines on how your
portfolio will be invested.
A tailored investment portfolio will
be developed that best meets your
requirements. It will only be implemented
after your Investment Adviser has gone
through the portfolio with you and you
are comfortable with it. Once in place,
your Investment Adviser will monitor
your portfolio and provide you with
regular portfolio reviews.
Advice supported by Research
We believe the quality of our research
is a key point of difference. Our
research underpins the advice we
provide clients, who benefit through
detailed recommendations and regular
research reports. Our research team is
one of the largest in New Zealand and
provides extensive coverage across all
major sectors - New Zealand and Global
companies and Fixed Income Issuers.
As a Managed Portfolio Service client
you will have premium access to all of
our research including strategy reports,
our monthly investment committee
reviews, equities and fixed income
research. You will also have access to
new equity and fixed income issues.
Complete Administration
We take care of all administration,
including corporate actions, receipt of
income from dividends and interest,
the paperwork regarding the sale or
purchase of securities and tax reporting.
While we look after every aspect of
the management of your portfolio, you
maintain complete control over your
investments. Beneficial ownership of
all assets remains with you through our
custody service, Custodial Services
Limited. Custodial Services Limited
(CSL) is a wholly owned subsidiary of
Craigs Investment Partners Limited. The
CSL Board includes two independent
Directors. CSL is also subject to an
annual independent financial audit and a
six monthly controls audit.
Complementary Services
Our Managed Portfolio Service includes
access to our additional services such
as broking, cash management and
foreign exchange. Clients can also
participate in our savings solutions,
including KiwiSaver. Your Investment
Adviser will be able to provide advice on
any services that might be appropriate
for you.
7. 5
Broking Services
We offer a full broking service across New Zealand and international share and bond
markets.
We have been a sharebroking firm
since 1984 and today we continue to
have specialised expertise providing
direct access to financial markets. We
offer full broking capability for New
Zealand and international markets, as
well as in fixed income.
Broking Service
Our Broking Service is suitable for
clients who want to choose the
securities they invest in or be more
involved in the running of their
portfolio. Your Investment Adviser can
provide research and execute buy and
sell transactions in equity and fixed
income markets. Our Broking Service
also includes foreign exchange and
cash management.
Our cash management service gives
you electronic settlement of your
equity and fixed income transactions.
Income from dividends and interest
from the shares and fixed income
securities in your portfolio can also be
credited to your account. A range of
currencies are available and interest is
compounded monthly.
Your Investment Adviser can offer
objective advice on all asset classes
including listed and unlisted securities,
fixed income, equities, private equity,
foreign exchange, exchange traded
funds and closed-end funds.
As a client, you will also have access to
our research and new issues.
Investment Administration Service
We can combine our Broking Service
with our Investment Administration
Service for those who want to manage
their own portfolio but would like us to
take care of the paperwork involved.
Our custodian, Custodial Services
Limited is a wholly owned subsidiary
of Craigs Investment Partners Limited.
It manages the administration of your
portfolio including corporate actions,
receipt of interest and dividends
and tax reporting. You can invest
through our custodial service with the
confidence that it is independently
audited and that Craigs Investment
Partners operates within the strict
compliance regulations set by the NZX
and New Zealand’s financial regulator –
the Financial Markets Authority (FMA).
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Savings Solutions
We offer a range of solutions to suit all of your short and long term savings goals, allowing
you to invest in lump sums or by regular instalments. Your Investment Adviser can help you
design a portfolio by selecting a range of securities and funds.
mySTART®
This is our most flexible investment
plan offering the choice to create
and tailor your own portfolio by
selecting securities from a range of
direct investments or funds. Unlike
KiwiSaver or Superannuation, funds in
mySTART® are not locked in.
superSTART®
This is our registered superannuation
scheme (non-KiwiSaver) which is
offered principally for the purpose of
providing retirement benefits. It offers
earlier access to funds than KiwiSaver.
kiwiSTART® Select
There are many incentives for every
eligible New Zealander to consider
investing in KiwiSaver. kiwiSTART®
Select is our KiwiSaver scheme that
offers you the flexibility and choice to
create your own portfolio from a range
of funds and individual Australasian
and Global Shares. You can work with
an Investment Adviser to help you
through the process of self-selecting
your own portfolio to suit your risk
profile and investment objectives.
UK Transfers – Our KiwiSaver and
Superannuation schemes are Qualifying
Registered Overseas Pension Schemes
(QROPS) and are able to receive
transfers from UK pension schemes.
We offer a transfer service which
investigates the benefits and terms
of your UK scheme and prepares a
summary report. From this report you
are able to discuss with your Investment
Adviser whether it is worthwhile
transferring your UK scheme.
Australian Transfers – Our Australian
Superannuation Transfer Service can
help you with transferring your savings.
Both of our KiwiSaver schemes are
able to receive transfers from Australian
superannuation schemes.
Foreign Pension Transfer Services
kiwiSTART® Defined
kiwiSTART® Defined is our KiwiSaver
option that offers access to a range of
eight diversified funds. It is designed
for those clients who are looking for a
KiwiSaver scheme with a ready-made
portfolio, rather than selecting their
own investments. It is also a Portfolio
Investment Entity (PIE).This enables the
fund to have tax income attributed to you
at your Prescribed Investor Rate (PIR).
There may be advantages to transferring your foreign pension to New Zealand. We offer
complementary services to help you through the process.
9. 7
QuayStreet Asset Management
QuayStreet Asset Management Limited (QuayStreet) is a specialist funds management firm
with a team across Auckland, New Zealand and Sydney, Australia. QuayStreet offers a range
of diversified and sector specific investment funds for investors. The QuayStreet specialists
seek to deliver superior investment returns for clients by actively managing the funds.
QuayStreet is a wholly owned subsidiary of Craigs Investment Partners Limited.
The QuayStreet Funds
QuayStreet offers a range of ten funds
with different risk profiles, designed
to meet the individual objectives of
investors.
Each Fund has a benchmark asset
class mix and investment range. These
reflect the portion that a Fund should
hold in the different asset classes.
For more information read the
QuayStreet Investment Statement
available on www.quaystreet.com
QuayStreet Investment Philosophy
The QuayStreet investment philosophy
is that an actively managed and
concentrated selection of investments
can provide better returns than market
benchmarks.
QuayStreet maintains that market
inefficiencies do exist, which from
time to time result in attractive
investment opportunities. Examples
of these include:
» Short term investment mentality by
market participants
» An overreliance on broker analyst
earnings estimates and faith in
company management
» A lack of understanding or
appreciation of a company’s
business model
» Trading volatility related to specific
events e.g. Index changes.
QuayStreet targets investments that
have good and sustainable underlying
business models which are trading at
an attractive valuation in relation to
their “intrinsic value”.
They do not transact frequently and
generally buy securities with the
intention of holding them for the long
term. A high emphasis is placed on
underlying investment fundamentals
including:
» Quality of company management
and corporate governance structure
» Evidence of disciplined capital
management with appropriate
investment hurdles
» Industry structure and competitive
positioning
» Earnings volatility and visibility
» Exposure to structural and
regulatory change.
For further information visit
www.quaystreet.com
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Next Steps
We can help you with your investments, whether you are getting started or already have a
portfolio in place.
The best place to start is to talk to
an Investment Adviser. For more
information on our services and how
we can help you, contact your nearest
Craigs Investment Partners branch or
our Head Office:
0800 272 442
headoffice@craigsip.com
www.craigsip.com
The contact details for our 17 branches
can be found in the directory on the
back of this brochure. More information
on our services is also available on our
website, www.craigsip.com.
We look forward to working with you.
Disclosure Statements and Investment Statements are available on request and free of charge. Please visit www.craigsip.com for more information. All investments are subject to risk
and returns are not guaranteed.
The Craigs Investment Partners kiwiSTART®
Select and kiwiSTART®
Defined Schemes (kiwiSTART®
Select and kiwiSTART®
Defined) are issued and managed by Craigs Investment
Partners Superannuation Management Limited. The New Zealand Guardian Trust Company Limited is the trustee of kiwiSTART®
Select and kiwiSTART®
Defined. Craigs Investment
Partners Limited, and those of its directors who are not also directors of the Manager, are promoters of kiwiSTART®
Select and kiwiSTART®
Defined. None of The New Zealand Guardian
Trust Company Limited, Craigs Investment Partners Superannuation Management Limited, Craigs Investment Partners Limited (or any director of those entities) or any other person,
guarantees the performance or returns of kiwiSTART®
Select and kiwiSTART®
Defined, or the return of capital. Investments made in kiwiSTART®
Select and kiwiSTART®
Defined are
subject to investment and other risks (including those set out in their respective Investment Statement and the prospectus) and are not guaranteed by the manager, the trustee or any
other person.
The Craigs Investment Partners Superannuation Scheme (superSTART®
) is issued by The New Zealand Guardian Trust Company Limited and managed by Craigs Investment Partners
Superannuation Management Limited. Craigs Investment Partners Limited and each of its directors are promoters of superSTART®
. None of The New Zealand Guardian Trust Company
Limited, Craigs Investment Partners Superannuation Management Limited, Craigs Investment Partners Limited (or any director of those entities) or any other person, guarantees the
performance or returns of superSTART®
, or the return of capital. Investments made in superSTART®
are subject to investment and other risks (including those set out in its investment
statement and prospectus) and are not guaranteed by the issuer, the manager or any other person.
In accordance with the Financial Advisers Act 2008 (the ‘Act’) and the Code of Professional Conduct for Authorised Financial Advisers, the Investment Administration Service (‘IAS’) and/
or mySTART®
are a class service and anyone receiving these services will not receive a personalised service involving personalised advice as defined by the Act.
This means that in providing the IAS and/or mySTART®
we will not consider whether IAS and/or mySTART®
are suitable to your personal circumstances, and will not take into account
your financial position, financial needs, financial goals or risk tolerance. You should therefore consider your personal circumstances in determining whether IAS and/or mySTART®
are
suitable to you.
The QuayStreet information is issued by QuayStreet Asset Management Limited, a wholly owned subsidiary of Craigs Investment Partners Limited. QuayStreet Asset Management
Limited is the manager of the QuayStreet Unit Trusts and will receive fees for this role as detailed in the current Investment Statement. Anyone wishing to make an application for units
should obtain a copy of the current Investment Statement and consider it before making any decision to invest and complete the application form included in the Investment Statement.
Past performance is not a reliable guide to future performance. The value of these investments can go down as well as up and investors may not get back the full amount invested. This
information is intended to provide a general overview of the QuayStreet Unit Trusts and is based upon, and derived from sources QuayStreet Asset Management Limited considers
reliable. At the date of issue, QuayStreet Asset Management Limited believes this information to be accurate and complete, however QuayStreet Asset Management Limited, Craigs
Investment Partners and The New Zealand Guardian Trust Company Limited provide no guarantee or warranty in this respect. QuayStreet Asset Management Limited, Craigs Investment
Partners, The New Zealand Guardian Trust Company Limited their respective directors and employees accept no liability for any negligent misstatement, or for the results of any actions
taken, or not taken in reliance on this information. This information is not a substitute for professional advice. In preparing this information QuayStreet Asset Management Limited did
not take into account the investment objectives, financial situation or particular needs of any particular person. Accordingly, before making any investment decision QuayStreet Asset
Management Limited recommends professional assistance from an Authorised Financial Adviser is sought. This information is provided for persons living in New Zealand and is not
provided for public dissemination or persons living outside New Zealand.
