Document Sample
Contacts Powered By Docstoc

Managed Funds                                    annual survey                         The contents of individual returns will be treated as confidential

                                                                                   December 2009
                  Company Name


                                               Primary Contact                          Backup Person                       Nominated Senior Executive

                                                                        Panel A - see list of Panel A funds below
                                           List quarterly survey fund managers in NZ who            List quarterly survey fund managers in NZ with whom
                                               give you funds to manage - see list below                   you place funds to manage - see list below
                                      All qtly funds except their KiwiSaver             $m0.0       All qtly funds except their KiwiSaver        $m0.0

                                      Non-KiwiSaver total                                       0.0 Non-KiwiSaver total                                  0.0
                                      KiwiSaver only from qtly survey funds                         KiwiSaver only with qtly survey funds

                                      KiwiSaver total                                           0.0 KiwiSaver total                                      0.0
                                      Qtly survey total equals row AA14.1                       0.0 Qtly survey total equals row A13                     0.0
                                                                              Panel B - all other fund managers
                                      All other NZ funds which give you funds to manage. These          All other NZ funds with which you place funds.
                                      must be included in A12 total but not in AA14.1                  NOTE: Do not include these funds in A12 or A13

                                      Kiwisaver from other funds                                    Kiwisaver with other funds

                                      Total managed for Panel B fund managers                   0.0 Total managed by Panel B fund managers               0.0   `
This is the list of quarterly survey respondents for Panel A. Any other manager's funds go in Panel B

Instructions - note the "?" button leads to the guidelines for completion
                                      Return to be completed quarterly as at the last day of March, June, September and December.
                                      To be denominated in NZ$0.0 millions (unless otherwise specified).
                                      Shaded areas indicate totals or calculations which are not to be overwritten.
                                      Please also refer to instructions on the Guidelines tab and ? buttons.
                                      Please keep a copy of each survey provided for future reference.
         Send completed return to

Reserve Bank contacts:
              Operations Adviser
          Manager, Statistics Unit
Primary contact/Statistical Analyst

Statistics New Zealand contacts:
  Subject Matter Project Manager
               Statistical Analyst
 Subject Matter Senior Statistician
                                                      Queries -
RESERVE BANK MANAGED FUNDS SURVEY: Final                                                                                                                                                                           Portfolio Summary - All Funds

                                                                           Column number         1               2                    3                 4                   5                6                       7

                                                                                                             Registered Superannuation
                                                    All figures in $ millions please                                                                                                                          Memo item
                                                                                                                                                   Unit Trusts         Other funds         TOTAL             Total of FUM
                                            31-Dec-09                                      Life products     Kiwisaver         All other super
                                                                                                                                                     & GIFs             managed                              (col6) in PIEs
          A. New Zealand investments managed by you
          A1 Cash and deposits (no short-term securities)                                                                                                                                            0.0
          A2 Interest-bearing securities - time to run to maturity
          A2.5 Central Govt - Short-term                                                                                                                                                             0.0
          A2.6 Central Govt - Long-term                                                                                                                                                              0.0
          A2.7 All Other non-Govt securities - Short-term, (exclude mortgage-backed)                                                                                                                 0.0
          A2.8 All Other non-Govt securities - long-term (exclude mortgage-backed)                                                                                                                   0.0
          A2.9 Total interest bearing securities                                                       0.0               0.0                 0.0                 0.0                 0.0             0.0                     0.0
          A2.10 Total cash and interest-bearing securities                                             0.0               0.0                 0.0                 0.0                 0.0             0.0                     0.0
          A3 Loans and placements (include mortgage-backed securities)                                                                                                                               0.0
          A4 Equities and units in trusts (exclude units in property trusts, A5)                                                                                                                     0.0
          A5 Units in property trusts (ensure NAV only, no gearing)                                                                                                                                  0.0
          A6 Property (non-unitised) and other fixed assets                                                                                                                                          0.0
          A7 All other New Zealand investments                                                                                                                                                       0.0
          A8 Total NZ funds managed by you
                                                                                                       0.0               0.0                 0.0                 0.0                 0.0             0.0                     0.0
          (A1 to A7)
          Overseas investments
          A9.1 Own funds placed with overseas managers                                                                                                                                               0.0
          A9.2 Own funds invested overseas and managed directly by you                                                                                                                               0.0
          A10.1 Funds from other NZ managers, placed with overseas managers                                                                                                                          0.0
          A10.2 Funds from other NZ managers invested overseas, managed directly by

          A11 Total overseas investments                                                               0.0               0.0                 0.0                 0.0                 0.0             0.0                     0.0
          (A9.1 to A10.2)
          A12 Total funds managed by you
                                                                                                       0.0               0.0                 0.0                 0.0                 0.0             0.0                     0.0
          (A8 and A11)
          A13 Your own funds placed with a NZ fund manager from Panel A to invest on
          your behalf (please name all on RHS contacts page Panel A).                                                                                                                                0.0

          AA. Memo items: Based on own customer funds (ie, A12 plus
          A13, plus Panel B, less amounts from Panel A fund managers).
          Wholesale funds categories in A12
          AA14.1 All funds included in A8 and A11 that are managed on behalf of other
          quarterly survey managers (= LHS Panel A contacts survey total).
          AA14.2 'Own group' wholesale in A12                                                                                                                                                        0.0

          Source of own customer funds (ie, all collected initially by you:
          A12 plus A13 less AA14.1, but including Panel B funds)
          AA16 FUM from households, incl family trusts (see formula in cell E36)                       0.0               0.0                 0.0                 0.0                 0.0             0.0
          AA18 Non-household sources (eg, charities, energy trusts, etc)                                                                                                                             0.0
          AA19 Total (AA16 to AA18)                                                                    0.0               0.0                 0.0                 0.0                 0.0             0.0
          AA31 Non-residents' funds included in A12                                                                                                                                                  0.0
          AA32 Funds in A12 that are covered by the Retail Deposit Guarantee Scheme
          (this is a memo item to identify this value within A12)                                                                                                                                    0.0

          Overseas investments - asset class (should total A11)
          AA33 Overseas investments in cash and fixed interest securities                                                                                                                            0.0
          AA34 Overseas investments in equities and units in trusts                                                                                                                                  0.0
          AA35 All other overseas investments                                                                                                                                                        0.0
          -- Residual difference with A11 total                                                        0.0               0.0                 0.0                 0.0                 0.0             0.0

                                                                                                                Page 2                                                                       58bc0da1-9e62-44a5-a23f-aad2b5ca6813.xls 11/27/2010
         Explanation for Data return
This information is collected in accordance with;
                         • section 36 of the Reserve Bank of New Zealand Act 1989; and
                              The information will be treated in confidence subject to the Bank's legal obligations.
                         • the Statistics Act 1975.
                              The information supplied in this questionnaire will be used by Statistics New Zealand solely for statistical purposes. Any release of information will
                              only be in accordance with the Statistics Act. Only persons authorised by the Act will have access to t

Our philosophy with returns is to try to give back to respondents value for the cost of their input by;
                        • consultation with the industry to get specifications corresponding as near as possible to existing data outputs and market 'reality';
                        • offering respondents a chance to add categories they are interested in so we can obtain an agreed aggregate for the market; and
                        • publishing the aggregates so market share can be calculated, and to assist research by others.

Requirements for completion of this return
Please also refer to the section headed Completion process at the end.

        This is                                                    If you have any doubt about how to complete a category - consult ... first please.
                                                                   The value of the return will be reduced if there is not co-ordination to achieve 'like-
                                                                   for-like' comparisons, and this approach will avoid re-work.

     The deadline for completion of the return is....

 'Fund manager' definition
Funds are being 'managed' by you if you are:
      • initiating and settling investment transactions in primary markets for securities, deposits, property or other assets; and/or
      • instructing a broker, trustee or custodian to initiate and settle for you; and/or
      • retaining administration responsibility for the investment, but where securities are registered (eg, by Computershare or Link) in the client's name. In this instance, the
        fund manager usually has a quarterly reporting procedure and manages the client’s po
This means:
      • that not only funds in unit trusts, pension schemes and life insurance investment pools are required to be reported, but also funds that may be managed on behalf of
        individual clients, but recorded on their behalf.
      • that where advisers / fund managers initiate and settle transactions for clients in primary markets (not via a wrap account alone, for example), such funds are also
        required to be included in this return.
There is 'no funds management' in:
     • an ordinary sharebroking transaction. The client initiates the transaction but the broker settles it in the primary market and henceforth the client manages the
         investment. In this case on the definition required for this return, they are excluded.

Avoidance of double-counting
On funds allocated in New Zealand
       To ensure we don’t count the same funds under management twice, we apply the above special definition of ‘manage’ (initiating and settling the transactions) to
       funds invested in New Zealand (either directly, or via other managers).
         This means that any client funds that are pooled and given to another specialist NZ-based fund to invest on their behalf should not be reported here (we will get them
         from the ‘specialist’). Second, for managers reporting funds managed in clients' names,

Buying units in equity and bond trusts
       Note that buying units in anything is ‘managing’ so long as these units are not provided directly through another NZ fund manager. The reason for this is that the
       originating manager will report these values to us as FUM. If units are bought on market, i

Buying units in property trusts (an exception to the rule)
       Any property trust units (listed or unlisted) you have put your clients into that are offered by another fund manager (eg, ING or AMP) directly or on market should be
       included in A5. Because the number of such funds is limited, we collect from a fund mana

Overseas investments
       All client funds you have ‘sent/placed’ or invested directly overseas should be reported. (The exception is if you have given funds to a New Zealand-based
       manager [including an exempt fund] to invest overseas). This manager will report them to us – do n
         If you manage (ie, settle) overseas investments, report them in A9.2. Funds that you are placing/investing overseas on behalf of another New Zealand fund manager
         who has provided them to you for this purpose should be reported in A10.
Contact tab' requirement for double-count management

        On the contact tab, we ask that you report the names and amounts held at reporting date from other fund managers, and the same information for your funds that you
        have provided to a 'specialist' fund to invest on your behalf. We ask for this information s
Final double-count requirement
        Items AA15 and AA16 ask that you calculate, or estimate, the $value of the funds in total FUM that is held in the name of individual clients. We calculate the aggregate
        of NZ and offshore security values owned directly by New Zealanders and those that ar

Australian and UK exempt fund managers to be treated as ‘New Zealand-based’.
        We survey all exempt fund managers. Therefore, if you have client funds with them, don’t report them. (However, as noted above, any client funds you have that have
        gone straight offshore through you, not to an exempt fund, need to be reported in rows A9

Reconciliation between funds ‘managed’ and client funds
       We provide in the return a ‘reconciliation’ row that asks ‘what is the total of client funds that you have given to another manager to invest?’ (row A13). This, totalled with
       the amount defined as ‘funds managed’ (A12) for the purposes of this return, eq

How to complete this return
Column Definitions

         The columns relate to the 'product' the client has bought, not the 'vehicle' in which the client's funds are managed. Please read this section carefully.
         All registered superannuation funds (including Kiwisaver) must be reported in the superannuation 'product' columns, even if the funds are managed within a unit trust
         structure, as a PIE or otherwise. The same approach should be taken to life FUM.
         Kiwisaver funds need to be shown separately from all other superannuation. The fourth category, 'other' is for all funds not invested directly by clients in a unit trust or
         GIF structure, life or superannuation product.
         Portfolio Investment Entity (PIE) vehicles are likely to be used to manage significant amounts of FUM. A memo item column is provided for the total PIE values. These
         values will in effect be 'distributed' among the 'product' columns preceding the total c

Row definitions
       Note: For foreign exchange hedges only, where there is a net asset or liability position, add/subtract this net position against overseas funds managed, don’t show the
       hedge position under ‘other’. The net of the gross asset and liability hedge values, u

Data for the Reserve Bank of New Zealand
A1       Cash and deposits Include only bank deposits, not the ‘cash’ definition used in HiPort or other fund management software. Deposits are funds ‘placed on deposit’
         with a financial institution and do not include certificates of deposit or other short-term
         If your fund has an overdraft, and netted against cash there is a negative position, then return a negative number here.

A2       Interest-bearing securities This row is simply a heading. Completion occurs in the sub-groups. These are financial securities bearing interest, and are usually
         termed bonds, government bonds or local authority stock or ‘bills’, promissory notes, medium
to       Time to run to maturity The meaning here is ‘how much time remains before this security matures and is repaid’. Managed fund reporting systems usually list all
A2.8     securities like this. If yours does, it will obviously enable you to report the ideal ‘under/

A3       Loans and placements Funds may have as assets, loans secured on commercial mortgage. Some also have residential mortgage loans held directly. (If you have,
         however, bought a security ‘backed’ by a mortgage or loan this should be recorded under A2.) A

A4       Equities and units in trusts, excl A5, units in property trusts Funds under management, invested in equities, or units in (equity or bond) trusts, or other managed
         fund units not managed by other fund managers should be entered here.

A5       Units in property trusts Enter the value of units in property trusts or property shares (eg, ING, GMT) where the value of the unit or share is based almost entirely on a
         property portfolio.

A6       Property and other fixed assets Direct investment in property and any other fixed asset as part of the funds managed (but not fixed assets of your business).

A7       Other New Zealand investments any other assets not included above that are attributable to FUM.

A8       Total New Zealand investments managed by you. The total of the above rows: formula adds automatically. Please ensure separate columns and the total are
         completed this way.

A9.1     Own funds placed with overseas managers, not managed by you Funds collected directly by your fund and invested directly with overseas managers, who
         themselves decide on and settle transactions. This is the most common form of overseas investment for New

A9.2     Own funds invested overseas by you and managed directly by you Funds overseas where the definition of ‘manage’ is the same as for New Zealand investments
         – where you initiate (through an onshore or offshore broker) and settle transactions.

A10.1    Funds from other New Zealand managers, placed with overseas managers, not managed by you Same definition as for 9.1, but for ‘wholesale’ funds you place
         on behalf of another New Zealand fund. This row is here to ensure we count funds collected by a New

         Funds from other New Zealand managers invested overseas by you and managed directly by you Same definition as for A9.2, but where you manage the funds.

A11      Total overseas investments Total of A9 and A10. Please ensure that the total and columns are both completed.

A12      Total funds reported Total of A8 and A11: formula adds automatically.

A13      Your customers’ funds placed with another New Zealand-based fund manager to invest on your behalf, that are not included in total A12 If your fund has
         given a mandate to another New Zealand-based fund or several such funds to manage a proportion of your

AA14.1 Funds from other Panel A managers Please show the funds total from Panel A received from other large managers, in the relevant product column. Cell G27 should
       be the contacts page cell H44 total.

AA14.3 Funds from all other managers (not Panel A) Please show all funds from other managers in the relevant product column. The cell total G32 is the same as cell H61
       on the contacts page.

AA16      Household FUM All FUM not from charities and other non-household sources. This cell will self-populate. It is a residual after non-HH FUM entered in AA18 is
         subtracted from (A12 + A13 - AA14.1). This total is your own customers' funds (ie excluding what comes from other Panel A fund managers, but including what is
         invested for Panel B fund managers).

AA18     FUM from non-household sources Enter these FUM before AA16, and AA16 will self-populate. The hidden row AA39 is (A12 + A13 - AA14.1).

AA31     Non residents’ funds. This is a memo item and will represent the portion of ‘own funds’ (AA19) that is provided by non-residents.
         The data source for this is often the non-resident withholding tax (NRWT) flag against funds held.

AA32     Funds covered by the Retail Deposit Guarantee Scheme (RDGS). This memo item is will contain information on funds under management
         (captured in line A12) covered by the RDGS introduced in October, 2008.

Overseas investment asset class

The Bank needs to know a simple split of overseas assets by product, which is not available from the SNZ tabs in the workbook. The three categories are:
AA33 Investment in non-resident fixed interest securities. All bonds and other fixed interest securities (including Kauri bonds) should be included here, including securities
       managed in unit trusts
AA34 Investment in non-resident listed equities (excluding property trust units). All equities (but not units in property trusts) should be here.
AA35 All other overseas investments. Include property assets, commodities etc

Data for Statistics New Zealand
Guiding principle for completion of overseas investments section.
        These questions ask for the country of the issuer of the securities (equities or fixed interest). Funds in a unit trust registered in a country are all deemed to be invested
        in securities issued in that country. However, all other FUM need to be sourced

         Kiwisaver-originated funds under management abroad will be reported for the first time in December 2007 responses. Please report the Kiwisaver portion of the total
         funds reported in A18 that originated from Kiwisaver accounts.

A15      Total of overseas investments (A11), in equities Equities refer to direct equities (shares), unit trusts, property trusts, private equities and participating shares.

A16      Total of ‘A11 overseas’ in fixed interest securities All fixed interest securities (issued by non-resident entities), but not loans or money market placements.

A17      All other overseas investments This is a residual item, comprising total overseas investments, less A15 and A16.

A18      Total overseas investments This total should be the same as A11, and the spreadsheet has a ‘check’ built in to emphasise this.

         Overseas open-ended investment companies (OEICs) These cells ask you to ‘break out’ and provide as memo items only the total amount of funds managed in
         OEICs, by country, that is already included in A18.

Completion process
         We want to obtain these minimum data with the least interruption to your work, as efficiently as possible. Hence the use of e-mail and Excel spreadsheets to facilitate
         completion and transmission.

         In collecting data for surveys, we need to have at least two names of contacts at respondents. The first we call the ‘executive responsible' for completion – someone
         who while not necessarily completing the return, is aware of it, has the authority to re

        The completion period available for this return is at least 25 working days – a calendar date in February will be specified each year on the return.
       Meeting the deadline is important for data quality. If for any reason you foresee difficulty in meeting the deadline, please contact us by telephone (see ‘contacts’ tab) to
       discuss this. If we haven’t received your return by due date, and have had no pr
       We will compare the current year with the last one as part of consistency checks. Please refer to the previous year’s data provided by us each year on a tab in the
       workbook (this will include any changes that have been made as a result of subsequent disc

                                    December 2008
                                    Reserve Bank of New Zealand/Statistics New Zealand

Shared By: