Hedge Funds, Commodities and Managed Futures Funds – current issues

Listing of any security on this market does not constitute advice or a recommendation to purchase that security or invest in securities issued by that company. See disclaimerbelow. For individual investment advice contact Canopus Investments Limited info@canopus.co.nz. Investment Adviser Disclosure Statement available on request, free of charge.

Unsecured deposits are generally not secured against any specific portion of the issuing company’s assets and therefore constitute unsecured debt, with priority for repayment standing below first ranking secured debenture stock but ahead of shareholder’s equity.
Corporate bonds may be secured or unsecured. For seniority (priority for payment) refer to the relevant investment statement or prospectus.

Special rates may be available for investments of NZ$50,000 and above.

NOTES:
1. Listing of any hedge fund or commodity fund on this primary market does not constitute a recommendation or advice to invest in that fund. See Disclaimer below.
2. Nil entry fee on Man OM-IP and Liontamer funds (some exceptions) for applications made through Canopus Investments Limited. Nil or heavily discounted entry fees on other funds.
3. For details of how to invest Click here. Contact Canopus for more information info@canopus.co.nz .

 

Hedge Funds Can Protect Your Portfolio

What are Hedge Funds ?

Hedge funds and commodity futures funds now constitute an accepted “alternative assets” class, complementing the traditional asset classes of equities, property, fixed interest and cash in a well balanced, diversified investment portfolio. Generally, hedge funds and commodity futures can improve investment portfolio returns by providing access to a broad range of markets not readily accessible to the private investor, while lowering portfolio volatility through accessing markets with low correlation to returns from the traditional asset classes. Markets traded may include foreign currencies, precious metals, base metals, energy and oil, agricultural commodities, interest rates, share market indices and individual equities. A “Fund of funds” (such as the Man OM-IP series) will usually employ a range of fund managers, each one operating in a specialist field.

While many types of hedge and commodity funds exist, private investors should consider market trading funds of the type listed here on the Debex Hedge Funds Primary Market. These funds usually seek to profit by actively trading derivative markets such as futures and options, from both the “long” and “short” perspectives – “long” being a “bought” position, where the trader intends to profit from selling that position later at a higher price in a rising market, and “short” being a “sold” position, where the trader intends to profit from buying back that position later at a lower price in a falling market. In both cases a profit is achieved where the “Sell” price exceeds the “Buy” price as in any business transaction, but here the fund can profit in both rising and falling markets since the “sell” order can just as easily precede the “buy” order as follow it.

Although the principles of formalised market trading, including contracts for future delivery, go back centuries to ancient Greece and Rome, modern futures markets owe their origins to the American agricultural markets centred on Chicago in the mid 1800’s. Quite literally the grain farmer, once in a position to estimate his forthcoming crop volume and quality from sheer experience and weather expectations, would mount his fastest horse and speed to Chicago, hoping to strike a committed forward deal for supply of his crop to an end user (perhaps a New York miller) before the annual arrival of competitors’ crops flooded the market, greatly depressing prices. Later, standardisation of contract specifications, provision of adequate storage facilities, formalised arbitration processes and guarantees of payment through market structures such as the Chicago Board of Trade, saw the process of commodity futures trading greatly reduce the wastage and hardship caused by massive seasonal imbalances in supply and demand.

Early meat and grain contracts for forward delivery were essentially cash contracts – a seller seeking a buyer for cash. Later the hedging potential of contracts for future delivery was recognised by businesses whose profitability depended on being able to source raw materials at a set price at some time in the future. For example, the miller committed to supplying flour to bakeries later in the year or a meatworks successfully tendering for supply to butchers. Although the business would be currently “short” of the raw material – having no means of storage – a potentially damaging rise in the commodity price at the time of necessity could be offset through purchase of an opposite “long” position in the futures market. If prices overall rose for the raw product, profits on the futures contract, when liquidated for cash, could be used to meet the increased cost of the physical commodity needed for production. Conversely the raw product producer (farmer) could hedge his current “long” position in the cash market by selling or going “short” at some month in the future when his produce would be ready for sale. A drop in cash market (“spot”) price at the time of delivery would be compensated for by a profit on the “short” contract (or perhaps the farmer could simply deliver at the higher price struck earlier under terms of his original “sell” contract provided his product quality closely matched the contract specifications).

Before long, speculators entered the markets, hoping to profit by trading futures contracts into the rise and fall of market volatility. Theoretically and practically, speculators came to play an essential part in the markets by providing a large pool of liquidity into which producers and end users could buy or sell. As only a small percentage of trades came to result in actual delivery, this large pool of liquidity tended to provide a smoothing function for prices overall. Speculators now play an essential part in the markets, providing the liquidity for an efficient market to function. Only a small portion of transactions result in actual delivery of the commodity.

Over the years a huge range of commodities including metals, forestry, oil and numerous agricultural products came to be traded on futures exchanges worldwide. The 1970’s saw a major innovation in the form of financial futures where interest rates, currencies and share market indices came to be traded with settlement usually being made in the form of a cash payment, the amount being calculated as some multiple of an underlying interest rate or index. Using the same principle as those Midwestern farmers and merchants long ago, modern businesses are able to offset or hedge their current position in a market against unfavourable movements in the price of an essential input or output some time in the future by purchasing futures contracts of the opposite position. A clear example would be the importer wanting to ensure profitability by locking in today’s local currency price of an overseas sourced product that must be paid for in a foreign currency at some time in the future.

 

Hedging an investment portfolio

Hedging an investment portfolio by fund managers is now commonly achieved using a variety of means including futures contracts, options, shorts and swaps. In this scenario the private investor can be left at a disadvantage, simply not having the time, financial and skill resources needed to manage an effective hedging program. The result is too often the private investor being forced or panicked into selling a “long only” portfolio at the most disadvantageous time as share markets collapse. Those too young to remember 1987 will have had an awakening experience during the months following October 2007. Although the private investor is perfectly entitled to operate his or her own hedging program through an individual futures trading account, difficulties are many and success is not assured. The need for constant market vigilance, a temptation to speculate through the high leverage available and difficulty in determining appropriate buy and sell points often combine to see many private futures traders losing money rather than effectively hedging a portfolio.

These days, buy and sell signals for successful hedge and commodity funds are nearly always generated by computer programs utilising a broad range of inputs covering both fundamental and technical factors. Apart from removing the otherwise massive human effort required to monitor continuously hundreds of markets worldwide, computer programs eliminate the human emotional factors that can prove so disastrous for many individual traders.

In practice it is unlikely that any investor will be able to find a single market to perfectly hedge his or her portfolio and even if this is found, difficulties abound in utilising it in a potential hedging role. However, the private investor is certainly able to achieve a very useful degree of protection for a broadly “long only” portfolio by including one, or preferably more, of the well performed hedge funds open to public subscription in his or her portfolio mix. Quite frankly, those restrictive jurisdictions limiting access to hedge funds do their citizens a severe disservice. Fortunately, in New Zealand, hedge funds are available to the investing public, subject to each fund meeting legislated formal offer documentation requirements. Many of these hedge funds are accessible to overseas investors provided the investor’s home jurisdiction allows access.

As with any investment portfolio component, selection of an appropriate hedge fund is paramount. For the mainly equities investor, preference should be given to those hedge funds with a sound record of returning good profits during times when sharemarkets have plunged. We have all been warned often enough that “past returns are no guarantee of future profits” but a well performed hedge fund able to demonstrate such returns in the past can at least show it has the skills and processes that may well be applicable again under similar circumstances in the future. However, investors need to know that there are market circumstances when hedge funds may not perform favourably and hence a portfolio of hedge funds only is unlikely to prove satisfactory. As always, diversification is the key to investment success.

The ability of a private investor to avoid the worst of a sharemarket crash through incorporating hedge funds in a diversified portfolio can improve performance of that portfolio not just marginally, but very significantly indeed, resulting in a huge difference to returns over the long term.

For a more detailed discussion of your hedge fund needs, contact Canopus Investments Limited info@canopus.co.nz

Secondary Markets

 

Disclosure

Debex ®, The New Zealand Debenture, Equity and Bond Exchange, is an exempt financial product market under section 312(1)(a) of The New Zealand Financial Markets Conduct Act 2013 (the Act) and is therefore not regulated as a financial product market under New Zealand law.

Debex secondary markets facilitate the trading of equities, preference shares, debenture stock, bonds, capital notes, managed funds and property based securities.

Investors using the Debex secondary markets will not be afforded the protection provided by a financial product market licensed under the Act which incudes, but is not limited to, restrictions on insider trading, disclosure of directors’ relevant interests and disclosure of material information liable to affect the market price of securities.

Debex does not monitor the issuers of securities listed on the Debex secondary markets for compliance with relevant laws and regulations.

Notes:

Listing of any security on this website does not constitute a recommendation or advice to purchase that security. See Disclaimer below.

Bids to buy and Offers to sell securities on these secondary markets are made subject to the Rules of the New Zealand Debentures Exchange Secondary Market. Click here to view.

All prices quoted are in New Zealand Dollars unless otherwise stated. Bids to purchase and offers to sell investments on the secondary markets may be made by contacting the New Zealand Debentures Exchange, stating item number, bid or offer price and total amount of security sought. Partial bids, representing less than the amount shown on the trading screen, may be accepted. A sale can only occur when bid and offer prices are matched on the trading screen for a particular security.

Contact New Zealand Debentures Exchange for further information if required: info@debentures.co.nz

Listing Shares on Debex

The ability to buy and sell your company’s shares adds to the attractiveness of holding those shares as an investment while offering benefits to the company itself including assistance with capital raising, share price discovery, execution of buy back programmes and shareholder communications. Listing your company’s shares on Debex creates an avenue for your shareholders to realise their investment or add to existing holdings.

Debex secondary markets offer a low cost, effective trading platform for your company’s ordinary shares, preference shares, bonds and options. A full sharetrading and transaction service is provided in association with your existing share registry, or Debex can provide a share registry service if required.

Contact info@debentures.co.nz to discuss pricing and procedures.

Conditions of use of this website

Use of this website denotes agreement to the following terms and conditions:

Disclosure

Debex ®, The New Zealand Debenture, Equity and Bond Exchange, is an exempt financial product market under section 312(1)(a) of The New Zealand Financial Markets Conduct Act 2013 (the Act) and is therefore not regulated as a financial product market under New Zealand law.

Debex secondary markets facilitate the trading of equities, preference shares, debenture stock, bonds, capital notes, managed funds and property based securities.

Investors using the Debex secondary markets will not be afforded the protection provided by a financial product market licensed under the Act which incudes, but is not limited to, restrictions on insider trading, disclosure of directors’ relevant interests and disclosure of material information liable to affect the market price of securities.

Debex does not monitor the issuers of securities listed on the Debex secondary markets for compliance with relevant laws and regulations.

Disclaimer

Debex ®, The New Zealand Debenture, Equity and Bond Exchange, is owned and managed by Canopus Investments Limited, FSP 31002, a privately owned New Zealand financial services company. To the maximum extent permitted by law, neither the owners, managers, employees nor associates of The New Zealand Debenture, Equity and Bond Exchange accept any liability whatsoever for transactions initiated through this website. Neither the owners, managers, employees nor associates of The New Zealand Debenture, Equity and Bond Exchange guarantee the performance of any party to any contract established through this website.

Information provided on this website does not constitute a recommendation or advice to purchase any investment or service listed or mentioned on this website. Information displayed on this website does not constitute personal investment advice and should not be relied on for making investment decisions. Investments mentioned on this website may not be appropriate for individual investment objectives or individual financial circumstances. Investors requiring personal investment advice should consult Canopus Investments Limited. A Financial Adviser Disclosure Statement is available on request, free of charge.

Information provided on this website is compiled from information believed to be accurate at the time of publication but no guarantee as to the accuracy of information displayed on this website is given, intended or implied.

Neither The New Zealand Debenture, Equity and Bond Exchange nor its owners, directors, officers and associates, guarantee the expected return or any other return from investments mentioned on this website.

Information provided on this website is not intended to create, nor does it create, any legal obligation, responsibility or contract between the owners, managers, employees or associates of The New Zealand Debenture, Equity and Bond Exchange and any other party.

Acceptance of offers

Information provided on this website does not constitute an offer of primary issue securities as such offer is only made on receipt of a completed application form. Application for primary issue securities will only be accepted when made on the application form accompanying the formal offer document.

Application to purchase securities listed on Debex secondary markets will only be accepted when made in accordance with the Secondary Market Trading Rules.

Restrictive Jurisdictions

No investment, product or service referred to on this website is, or will be, knowingly offered to any person or entity residing in, or subject to, a restrictive jurisdiction where the offer of such investments would be unlawful. Any person or entity requesting information about, or making application for, any investment, product or service referred to on this website, will be deemed to have declared that the person or entity making the request or application is free to receive such offers and is not subject to any restrictive jurisdiction where such action would be considered unlawful.

Copyright

Information published on this website is provided on a non-prejudicial basis only. It may not be used for other than the purpose for which it is intended, that is, the obtaining of financial services information of a general nature only. International copyright to the material on this website is held by Canopus Investments Limited. Unless specifically authorised by Canopus Investments Limited in writing, all copying, forwarding or alternative use of information obtained from this website, in any manner whatsoever, by any individual, entity, corporate, state or representative of such entities, is prohibited and may be deemed to constitute breach of copyright.

 

Secured Debenture Stock and Deposits – Current Interest Rates

Secured Debenture Stock and Deposits – Current Interest Rates

See red table below for current specials
Contact Canopus Investments Limited for exclusive specials and loyalty rates: info@canopus.co.nz
All term deposit interest rates quoted at % per annum, paid or compounded quarterly unless stated otherwise
Issuer
(click name to download investment statement and application form) NZ Govt Deposit Guarantee* $ Min. Call 3 m 6 m 9 m 12 m 15 m 18 m 24 m 30 m 3 yr 4 yr 5 yr Credit
Rating
(long
term)
** Outlook Notes
Asset Finance No 500 2.60 3.60 4.60 5.10 6.10 6.20 6.50 B
S&P; stable
FE Investments No 5000 6.00 6.50 7.25 7.30 B
S&P; stable US Dollar investments available, click here for rates.
Finance Direct No 1000 2.50 4.95 5.50 6.25 6.35 7.00 7.50 Loyalty rates for existing investors may range up to +0.50% for different terms except specials as shown in red table below.
Fisher and Paykel Finance No 1000
25,000 2.85
2.85 3.15
3.30 3.65
3.80 3.75
3.90 3.85
4.00
3.95
4.10 4.10
4.25
4.25
4.40 4.35
4.50 4.45
4.60 BB
S&P; stable Monthly interest payments available on $10k min. deposit. Special rates may be available for $250,000 or more.
General Finance No 5000 2.50 4.00 5.00 5.50 5.75 4.75 4.75 Monthly interest payments available on deposits $10k and above.
Gold Band Finance ³ No 500
5000 2.00
2.50 2.00
2.50 3.00
4.25 4.25
5.00 5.50
6.00 5.50
6.10 5.50
6.50 5.50
6.50
Heartland Bank
Deposit rates No 1000
20,000 3.25
3.25 2.90
3.00 3.40
3.40 3.30
3.40 3.55
3.55
3.45
3.55 3.50
3.60
3.60
3.70 3.65
3.75 3.70
3.80 BBB
S&P; negative Call rate quoted is for individual direct call account. Special rates may be available for deposits of $250,000 or more. Special rates available to existing investors from time to time. Contact Debex for details. info@debentures.co.nz
Liberty Financial No 5000
20,000 3.45
3.60 4.05
4.20 4.15
4.30 4.70
4.85 5.05
5.20 5.25
5.40 5.85
6.00 5.75
5.90 5.65
5.80 BBB-
S&P; positive Liberty Financial Pty Limited, 100% owner of Liberty Financial, guarantees principal and interest of outstanding Secured Deposits.
Mutual Credit Finance No 5000 5.00 5.25 6.00 6.25 6.25 6.25 May pay special rates for deposits of $100k and over.
UDC Finance ² No 5000
100,000 2.45
2.95 2.95
2.95 3.50
3.55 3.50
3.55 3.65
3.70 3.55
3.60 3.60
3.65 3.65
3.70 3.75
3.80 3.85
3.90 AA-
S&P; stable Call rate is for telephone call account. Interest paid on maturity for terms under 12 months. Monthly interest payment option available for terms 12 months and greater.

* The New Zealand Government Retail Deposit Guarantee Scheme terminated on 31 December 2011.
** For an explanation of credit ratings see the Reserve Bank of New Zealand credit ratings pamphlet here.
¹ Special investment rates available through Canopus Investments Limited. See “Red Table” specials below.
² Monthly and other payment terms available; rates may vary slightly from quarterly payment rates.
³ Loyalty rate applies on reinvestment, usually +0.25% p.a. but may vary between companies. Loyalty rates may not apply to specials.

NOTES:
1. Listing of any finance company or financial institution on this website does not constitute a recommendation or advice to purchase debenture stock or any other security issued by that company. See Disclaimer below. For personal investment advice contact Canopus Investments Limited info@canopus.co.nz. Investment Adviser Disclosure Statement available on request, free of charge.
2. Finance companies may offer special rates on investments made through Debex. Contact Debex for details. info@debentures.co.nz
3. All listed finance companies offer the option of quarterly compounding interest rates, effectively increasing listed rates by up to 0.4% p.a. Contact Debex for details.
4. Applicants must provide all identification documentation as requested in the application form or investment statement. Failure to provide identification as requested may invalidate an application.
5. Deposit taking institutions reserve the right to accept or decline any application at their own discretion.

Order Investment Statements

Current Specials – Deposits and Secured Debenture Stock Interest Rates

Contact Canopus Investments Limited for exclusive specials and loyalty rates: info@canopus.co.nz
All term deposit interest rates quoted at % per annum, paid quarterly unless stated otherwise.
Issuer
(click name to download investment statement and application form) $ Min. Term Rate % p.a. Notes
Finance Direct 1000 49 mths 7.25
Finance Direct 1000 49 mths 7.50 Loyalty rate for existing depositors only. New investors can receive 7.50% p.a.

Updated: 7 January 2016

Conditions of use of this website

Use of this website denotes agreement to the following terms and conditions:

Disclosure

Debex �, The New Zealand Debenture, Equity and Bond Exchange, is an exempt financial product market under section 312(1)(a) of The New Zealand Financial Markets Conduct Act 2013 (the Act) and is therefore not regulated as a financial product market under New Zealand law.

Debex secondary markets facilitate the trading of equities, preference shares, debenture stock, bonds, capital notes, managed funds and property based securities.

Investors using the Debex secondary markets will not be afforded the protection provided by a financial product market licensed under the Act which incudes, but is not limited to, restrictions on insider trading, disclosure of directors’ relevant interests and disclosure of material information liable to affect the market price of securities.

Debex does not monitor the issuers of securities listed on the Debex secondary markets for compliance with relevant laws and regulations.

 

Disclaimer

Debex �, The New Zealand Debenture, Equity and Bond Exchange, is owned and managed by Canopus Investments Limited, FSP 31002, a privately owned New Zealand financial services company. To the maximum extent permitted by law, neither the owners, managers, employees nor associates of The New Zealand Debenture, Equity and Bond Exchange accept any liability whatsoever for transactions initiated through this website. Neither the owners, managers, employees nor associates of The New Zealand Debenture, Equity and Bond Exchange guarantee the performance of any party to any contract established through this website.

Information provided on this website does not constitute a recommendation or advice to purchase any investment or service listed or mentioned on this website. Information displayed on this website does not constitute personal investment advice and should not be relied on for making investment decisions. Investments mentioned on this website may not be appropriate for individual investment objectives or individual financial circumstances. Investors requiring personal investment advice should consult Canopus Investments Limited. A Financial Adviser Disclosure Statement is available on request, free of charge.

Information provided on this website is compiled from information believed to be accurate at the time of publication but no guarantee as to the accuracy of information displayed on this website is given, intended or implied.

Neither The New Zealand Debenture, Equity and Bond Exchange nor its owners, directors, officers and associates, guarantee the expected return or any other return from investments mentioned on this website.

Information provided on this website is not intended to create, nor does it create, any legal obligation, responsibility or contract between the owners, managers, employees or associates of The New Zealand Debenture, Equity and Bond Exchange and any other party.

Acceptance of offers

Information provided on this website does not constitute an offer of primary issue securities as such offer is only made on receipt of a completed application form. Application for primary issue securities will only be accepted when made on the application form accompanying the formal offer document.

Application to purchase securities listed on Debex secondary markets will only be accepted when made in accordance with the Secondary Market Trading Rules.

Restrictive Jurisdictions

No investment, product or service referred to on this website is, or will be, knowingly offered to any person or entity residing in, or subject to, a restrictive jurisdiction where the offer of such investments would be unlawful. Any person or entity requesting information about, or making application for, any investment, product or service referred to on this website, will be deemed to have declared that the person or entity making the request or application is free to receive such offers and is not subject to any restrictive jurisdiction where such action would be considered unlawful.

Copyright

Information published on this website is provided on a non-prejudicial basis only. It may not be used for other than the purpose for which it is intended, that is, the obtaining of financial services information of a general nature only. International copyright to the material on this website is held by Canopus Investments Limited. Unless specifically authorised by Canopus Investments Limited in writing, all copying, forwarding or alternative use of information obtained from this website, in any manner whatsoever, by any individual, entity, corporate, state or representative of such entities, is prohibited and may be deemed to constitute breach of copyright.

 

Disclosure

 

Debex ®, The New Zealand Debenture, Equity and Bond Exchange, is an exempt financial product market under section 312(1)(a) of The New Zealand Financial Markets Conduct Act 2013 (the Act) and is therefore not regulated as a financial product market under New Zealand law.

Debex secondary markets facilitate the trading of equities, preference shares, debenture stock, bonds, capital notes, managed funds and property based securities.

Investors using the Debex secondary markets will not be afforded the protection provided by a financial product market licensed under the Act which incudes, but is not limited to, restrictions on insider trading, disclosure of directors’ relevant interests and disclosure of material information liable to affect the market price of securities.

Debex does not monitor the issuers of securities listed on the Debex secondary markets for compliance with relevant laws and regulations.

 

Welcome to Debex ®, The New Zealand Debenture, Equity and Bond Exchange

Pay no brokerage or entry fee on secured debenture stock, capital guaranteed hedge funds, managed funds and other popular investments.

Wanting to find the best current interest rates on secured debenture stock, capital notes and bonds? Debex offers a comprehensive investor resource to meet your investment needs.

Debex provides primary and secondary markets for the purchase and sale of New Zealand secured debenture stock, equities, bonds, capital notes, property backed securities, managed futures, commodities and hedge funds. Compare debenture stock interest rates from leading New Zealand finance companies and pay no brokerage to invest. See “how to invest” for application details.

Debex Secondary Stock Markets

Looking for a very cost effective sharetrading platform to enable trading of your company’s shares? Debex secondary markets offer a low cost alternative, providing a full transaction and clearance facility. Click here for details…

The Debenture Stock Secondary Market and other Debex secondary markets enable existing holders of New Zealand registered debenture stock, equities, bonds, property securities and managed funds to offer their investments for sale on the open market prior to maturity, thereby accessing their capital and avoiding expensive early redemption fees.

 

Buyers of New Zealand registered debenture stock and other issues from the Debex Secondary Markets may find a superior return over a term to meet their requirements by checking available secondary stock market quotes.

Primary Debenture Stock Market

The Primary Debenture Stock Market lists current issues of debenture stock from leading New Zealand finance companies, showing best current interest rates on term deposits and current “Red Table” interest rate specials. All listed debenture stock is issued subject to an approved current prospectus registered with the New Zealand Companies Office. Investors pay no brokerage on debenture stock purchased through the Exchange Operator, Canopus Investments Limited. For details contact Canopus info@canopus.co.nz. Investment Adviser Disclosure Statement available on request, free of charge.

New Zealand Regulations allow for special taxation treatment of interest paid to qualifying non-resident investors.

For detailed listing requirements of the Debenture Stock Primary Market, see Rules.

What is debenture stock ?

Debenture stock is a form of fixed interest security (debt funding) issued by specialist finance companies, authorised to raise funds from the investing public for onlending to carefully selected corporate and private borrowers.

By governing legislation, the permitted activities of each finance company are prescribed in a registered trust deed with a specialist independent trustee company being appointed to monitor finance company performance and act in the interests of debenture stock holders. Should the finance company fall outside its prescribed operating limits and financial ratios as defined in the registered trust deed, Trustee powers extend to demanding immediate repayment of debenture stock capital and even placing the issuing company in receivership if necessary, to ensure security of investment for the debenture stockholders.

First ranking secured debenture stock carries a floating charge across all the assets of the issuing finance company (subject to minor permitted priority charges) and therefore, in priority for repayment, ranks ahead of ordinary creditors, subordinated debt, capital notes, bonds and ordinary shares in the event of a company failure.

Purchase of New Zealand registered debenture stock and other investments may be open to international investors, depending on jurisdiction.

 

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Conditions of use of this website

Use of this website denotes agreement to the following terms and conditions:

Disclosure

Debex ®, The New Zealand Debenture, Equity and Bond Exchange, is an exempt financial product market under section 312(1)(a) of The New Zealand Financial Markets Conduct Act 2013 (the Act) and is therefore not regulated as a financial product market under New Zealand law.

Debex secondary markets facilitate the trading of equities, preference shares, debenture stock, bonds, capital notes, managed funds and property based securities.

Investors using the Debex secondary markets will not be afforded the protection provided by a financial product market licensed under the Act which incudes, but is not limited to, restrictions on insider trading, disclosure of directors’ relevant interests and disclosure of material information liable to affect the market price of securities.

Debex does not monitor the issuers of securities listed on the Debex secondary markets for compliance with relevant laws and regulations.

Disclaimer

Debex ®, The New Zealand Debenture, Equity and Bond Exchange, is owned and managed by Canopus Investments Limited, FSP 31002, a privately owned New Zealand financial services company. To the maximum extent permitted by law, neither the owners, managers, employees nor associates of The New Zealand Debenture, Equity and Bond Exchange accept any liability whatsoever for transactions initiated through this website. Neither the owners, managers, employees nor associates of The New Zealand Debenture, Equity and Bond Exchange guarantee the performance of any party to any contract established through this website.

Information provided on this website does not constitute a recommendation or advice to purchase any investment or service listed or mentioned on this website. Information displayed on this website does not constitute personal investment advice and should not be relied on for making investment decisions. Investments mentioned on this website may not be appropriate for individual investment objectives or individual financial circumstances. Investors requiring personal investment advice should consult Canopus Investments Limited. A Financial Adviser Disclosure Statement is available on request, free of charge.

Information provided on this website is compiled from information believed to be accurate at the time of publication but no guarantee as to the accuracy of information displayed on this website is given, intended or implied.

Neither The New Zealand Debenture, Equity and Bond Exchange nor its owners, directors, officers and associates, guarantee the expected return or any other return from investments mentioned on this website.

Information provided on this website is not intended to create, nor does it create, any legal obligation, responsibility or contract between the owners, managers, employees or associates of The New Zealand Debenture, Equity and Bond Exchange and any other party.

Acceptance of offers

Information provided on this website does not constitute an offer of primary issue securities as such offer is only made on receipt of a completed application form. Application for primary issue securities will only be accepted when made on the application form accompanying the formal offer document.

Application to purchase securities listed on Debex secondary markets will only be accepted when made in accordance with the Secondary Market Trading Rules.

Restrictive Jurisdictions

No investment, product or service referred to on this website is, or will be, knowingly offered to any person or entity residing in, or subject to, a restrictive jurisdiction where the offer of such investments would be unlawful. Any person or entity requesting information about, or making application for, any investment, product or service referred to on this website, will be deemed to have declared that the person or entity making the request or application is free to receive such offers and is not subject to any restrictive jurisdiction where such action would be considered unlawful.

Copyright

Information published on this website is provided on a non-prejudicial basis only. It may not be used for other than the purpose for which it is intended, that is, the obtaining of financial services information of a general nature only. International copyright to the material on this website is held by Canopus Investments Limited. Unless specifically authorised by Canopus Investments Limited in writing, all copying, forwarding or alternative use of information obtained from this website, in any manner whatsoever, by any individual, entity, corporate, state or representative of such entities, is prohibited and may be deemed to constitute breach of copyright.