New Zealand
Australia
United States
United Kingdom
Custodial Administration
Foreign Currency
|
New Zealand
|
| Type of Security |
Brokerage and Fees |
| NZSX, NZAX Listed Equities |
NZ$29.50 for all trades of less than NZ$10,000 in value; or 0.3%
of the value of the trade that exceeds NZ$10,000 in value |
| NZDX Listed Fixed Interest |
For each trade: 0.5% of the value of the trade up to NZ$50,000, plus
0.4% of the trade value above NZ$50,000.
Minimum brokerage of NZ$30.00 applies to each trade.
A trade fee of NZ$5.50 also applies to each trade.
|
Australia
|
| ASX Listed Securities |
AU$29.50 per trade for each trade of less than AU$10,000 in value, or
0.3% of the value of the trade for each trade that exceeds AU$10,000 in value
|
United States
|
| Approved NYSE, NASDAQ and AMEX Listed Securities |
US$69.50 per trade for each trade, or 0.6% of the value of each trade,
whichever is greater
An order, if filled completely, must result in a custodial position either:
- worth greater than US$500.00 (for
both buys and sells); or
- worth US$0.00 (in the case of a sell)
|
United Kingdom
|
| Approved LSE Listed Securities, trading in GBP, EUR, and USD |
£69.50 per trade for each trade, or 0.6% of the value of each trade,
whichever is greater.
Orders for listed securities denominated in currencies other than GBP on the LSE will be charged as follows:
- For Euro denominated securities,
€95 per trade; and
- For US denominated securities,
US$140 per trade; or
- 0.6% of the trade value, in each case whichever is the greater amount.
Stamp duty will apply on all UK buy orders. UK stamp duty is currently 0.5% of the value of any transaction resulting in a change of beneficial ownership.
An order, if filled completely, must result in a custodial position either:
- worth greater than £500.00, €500.00
or US$500.00 depending on the currency the security is traded
in (for both buys and sells); or
- worth £0.00, €0.00 or US$0.00 (in the case of a sell)
|
Custodial Administration
|
| UK/US Custody Fees |
US custody fees: 0.5% per annum of aggregate holdings value calculated daily and charged following the end of each month.
UK custody fees: 0.5% per annum of aggregate holdings value calculated daily and charged following the end of each month. |
| Fee Minimum |
For each six month period, a minimum custody fee of NZ$60.00 applies if the aggregate of custody fees plus brokerage
and trade fees (for securities held in custody) does not exceed $60 in that six month period. The six month periods begin
on 1 April and 1 October each year. |
| Electronic transfer of securities into custody |
No charge. |
| Electronic transfer of securities out of custody |
NZ$100.00 per security |
Foreign Currency
|
| Currency Conversion |
Foreign exchange charges will be incured on all foreign securities transactions
that require funds to be converted to or from NZ dollars.
For the purposes of conversion into or from one currency to another, the exchange
rate used is a midpoint rate plus a currency conversion margin of an amount up to
0.89% of the overseas currency amount.
The midpoint rate is derived from wholesale buy and sell rates quoted by foreign
exchange market participants and which are compiled by a supplier of financial
market data.
The exchange rate or rates for a particular transaction will be those applicable
at the time at which and on the date at which the contract note for the trade is
generated. The exchange rate displayed here is an indication of the midpoint only
and is refreshed from time to time throughout the day.
|
| Current midpoint |
| NZD/AUD |
0.8032 |
| NZD/USD |
0.7263 |
| NZD/GBP |
0.4630 |
| NZD/EUR |
0.5565 |
|
