InvestNow KiwiSaver Review (2026)

What is InvestNow?

InvestNow is a New Zealand online investment platform that gives investors access to managed funds, KiwiSaver and term deposits from a range of providers through one account.

Unlike a traditional single-manager provider, InvestNow lets you choose investments from multiple fund managers. If you invest in a Milford, Mercer or Pathfinder fund through InvestNow, for example, that underlying investment is still managed by that fund manager.

InvestNow does not charge investors a separate platform or administration fee. You still pay the fees associated with the investments you choose, which can include annual fund charges, buy/sell spreads or transaction fees.

InvestNow was launched in 2017 by Anthony Edmonds, a former head of sales and marketing at AMP Capital. Today, InvestNow is part of global financial-services company Apex Group.

InvestNow KiwiSaver Scheme

The InvestNow KiwiSaver Scheme is unusual because it lets you build your own KiwiSaver portfolio from 40+ investment options across 15 investment managers.

Rather than selecting a single Conservative, Balanced or Growth fund from one provider, you can combine funds from different managers and asset classes within the same KiwiSaver account.

InvestNow does not charge a separate KiwiSaver administration or membership fee. The amount you pay depends on the underlying funds you select.

The scheme includes active and passive options covering diversified portfolios, New Zealand and Australian shares, international shares, fixed interest and other asset classes.

FundRock NZ Limited is the legal issuer and manager of the InvestNow KiwiSaver Scheme, while InvestNow is responsible for investment-management functions including selecting and appointing the underlying funds and investment managers. Both are part of Apex Group.

Managed funds

Outside KiwiSaver, InvestNow provides access to more than 150 managed funds from more than 30 investment managers.

The range includes funds from managers such as Milford, Pathfinder, Pie Funds, Generate, AMP, Fisher Funds, Harbour, Mercer and Vanguard, along with InvestNow's own Foundation Series.

Investments cover areas including New Zealand and Australian shares, international shares, diversified funds, cash, fixed interest, listed property, infrastructure and commodities.

InvestNow also offers Smart funds. Smart currently has 35 investments available through the platform: its Growth Fund plus 34 exchange-traded funds (ETFs) covering New Zealand, Australian and international markets.

For managed funds, the usual minimum is $250 for a one-off investment or $50 per fund when investing through a Regular Investment Plan.

InvestNow's Foundation Series

The Foundation Series is InvestNow's house range of low-cost PIE funds.

There are currently 10 Foundation Series funds, covering diversified portfolios and international share markets.

The diversified options are:

Foundation Series Balanced Fund — 0.37% p.a.

Foundation Series Growth Fund — 0.37% p.a.

Foundation Series High Growth Fund — 0.37% p.a.

These three funds do not currently charge a buy or sell transaction fee.

The seven single-sector international share funds are:

Foundation Series US 500 Fund — 0.03% p.a.

Foundation Series Hedged US 500 Fund — 0.03% p.a.

Foundation Series Total World Fund — 0.06% p.a.

Foundation Series Hedged Total World Fund — 0.06% p.a.

Foundation Series US Dividend Equity Fund — 0.06% p.a.

Foundation Series Global ESG Fund — 0.10% p.a.

Foundation Series Nasdaq-100 Fund — 0.15% p.a.

Each of these seven funds currently charges a 0.50% transaction fee when you invest and another 0.50% when you withdraw.

That distinction is important. The annual fees are extremely low, particularly for the US 500 and Total World funds, but the transaction fees make them better suited to longer-term investors than people frequently moving money in and out.

The Foundation Series funds are issued and managed by FundRock NZ Limited.

Platform fees

InvestNow does not charge a separate platform or administration fee for its managed-fund service.

That doesn't mean investing through InvestNow is completely free. Each fund has its own fee structure, and some investments can also have buy/sell spreads, swing-pricing adjustments or transaction fees.

Smart ETFs are bought and sold on the NZX, so their prices are also affected by market pricing and spreads.

Another detail worth knowing is that cash sitting in your InvestNow Transaction Account does not earn interest for you. InvestNow receives the interest generated on this cash and says it uses it to help cover the cost of operating the service.

How are your investments protected?

InvestNow uses an independent custodian, Adminis Custodial Nominees Limited, to hold client investments.

This means client assets are legally separated, or ring-fenced, from InvestNow's own business assets. If InvestNow itself failed, the investments held through the custodian would remain separate from InvestNow's creditors.

This doesn't protect you against normal investment losses. If the funds you own fall in value, your portfolio can still lose money.

Other products

InvestNow also offers a Child's Account, with managed fund and Smart ETF options and no transaction or ongoing fees from InvestNow. It also offers term deposits from six banks: ANZ, Bank of China, BNZ, China Construction Bank (NZ), Heartland Bank and SBS Bank.

The bottom line

InvestNow is one of New Zealand's broadest investment platforms, with more than 150 managed funds, 40+ KiwiSaver investment options and term deposits from several banks, all accessible through one service.

Its biggest advantage is flexibility. Instead of being limited to the funds offered by one investment manager, investors can build a portfolio using products from dozens of managers.

InvestNow itself doesn't charge a platform or administration fee, and its Foundation Series includes some exceptionally low annual fund charges. However, fees vary considerably between funds, and seven Foundation Series share funds charge 0.50% when you invest and another 0.50% when you withdraw.

For KiwiSaver investors who want to choose their own funds rather than use a traditional single-manager KiwiSaver scheme, InvestNow offers considerably more choice than most providers.