Betashares’ PIE funds available on NZ platforms

Oksana Patron

8 August 2023

Betashares’ range of portfolio investment entity (PIE) funds are now available on New Zealand-based financial adviser investment platforms.

Advisers based in New Zealand who use the Consilium Wrap, Adminis, Apex Group, NZX Wealth technologies and other major platforms will be now able to access PIE fund range while wholesale investors may be able to invest directly into these funds, the firm said.

Betashares said that the inclusion of its PIE fund range on key platforms came as investment consultant, MyFiduciary, said it “had met all 24 criteria of the Fi360 Global Fiduciary Standard of Excellence for Investment Managers”.

Betashares Executive Director – Institutional & Adviser Services, Vinnie Wadhera, also noted the inclusion of the PIE fund range was a result of early demand from NZ-based financial advisers.

“The inclusion of our innovative PIE funds on platform menus is a direct result of the significant interest shown by our trusted adviser clients. We thank these clients for their efforts to review our funds and we’ll continue to engage with them about the meaningful role our innovative investment solutions can play in their client portfolios,” Wadhera said.

“Alongside the early demand for our PIE funds, we’ve also seen adoption of our practice development services by NZ advisers who are looking to build and scale their businesses,” he added.

Betashares’ range of NZ-domiciled PIE funds were launched in June 2023 and provide investors with exposure to five index-tracking strategies covering Global and Australian equities as well as Australian fixed income within a tax-efficient structure for NZ investors.