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        "asset": "IShares Global Aggregate Bond ESG SRI UCITS ETF",
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        "asset": "Harbour Sustainable NZ Shares Fund",
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        "asset": "Vanguard ESG INTL Stock ETF",
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        "label": "FOUNDATION SERIES BALANCED FUND (FND20381) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.58 KB",
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        "label": "20260130 Foundation Series Funds Diversified Funds PDS.pdf Additional product disclosure statement from the provider PDF, 330.98 KB",
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      },
      {
        "label": "20260130 Foundation Series Funds Core Equity Funds #2 PDS.pdf Additional product disclosure statement from the provider PDF, 313.71 KB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/mdo8090952e11dcfd036128ea6b5e40984f/20260130-Foundation-Series-Funds-Core-Equity-Funds%232-PDS.pdf"
      },
      {
        "label": "20260130 Foundation Series Funds OMI.pdf Other Material Information Document PDF, 335.33 KB",
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      {
        "label": "Invest Now Responsible Investment Statement (February 2026).pdf Responsible Investment Statement PDF, 679.97 KB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/mdo0a353e49820cfc2d0a2130907296682d/Invest-Now-Responsible-Investment-Statement%28February-2026%29.pdf"
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      {
        "label": "20260130 Foundation Series Funds SIPO.pdf Statement of investment policy and objectives PDF, 583.48 KB",
        "href": "https://smartinvestor.sorted.org.nz/disclose-document/mdob7fcaddcdc5a7f427aead0b07bd06173/20260130-Foundation-Series-Funds-SIPO.pdf"
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    "fund_name": "Foundation Series Balanced Fund",
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      "annual_fund_charge_pct": 0.37,
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      "derivatives_policy": "The Funds can invest directly in securities including derivatives. Derivatives are not referenced beyond this permitted use; BNZ is responsible for execution of currency hedging via (implied) derivative instruments.",
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        "Recreational cannabis producers/distributors (Australasian Equities)",
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        "Gambling services providers (>0% revenue) (Australasian Equities)",
        "Adult entertainment producers and high-revenue distributors (Australasian Equities)",
        "Anti-personnel landmines (any exposure) (Australasian Equities)",
        "Chemical and biological weapons (any exposure) (Australasian Equities)",
        "Cluster munitions (any exposure) (Australasian Equities)",
        "Nuclear weapons (any exposure) (Australasian Equities)",
        "Military weapons manufacturers (>0% revenue) (Australasian Equities)",
        "Civilian automatic and semi-automatic firearms (Australasian Equities)",
        "Thermal coal extraction (>5% revenue) or electricity generation from thermal coal (>=25% revenue) (Australasian Equities)",
        "Palm oil production (>=10% revenue) (Australasian Equities)",
        "Animal testing for non-pharmaceutical purposes (>0% revenue) (Australasian Equities)",
        "Factory farming / intensive agriculture (>0% revenue) (Australasian Equities)",
        "Large carbon emitters exceeding 2.2m tonnes CO2-e per annum (Australasian Equities)",
        "Human rights and child labour controversy companies (UN Global Compact / UN Guiding Principles / ILO) (Australasian Equities)",
        "Poor ESG conduct companies (substantial breach without adequate remediation) (Australasian Equities)",
        "Tobacco manufacturers/distributors/retailers (International Equities)",
        "Cannabis Producers ICB subsector (International Equities)",
        "Alcohol manufacturers (>=5% revenue) and distributors/retailers (>=10% revenue) (International Equities)",
        "Gambling establishment owners/operators (>=5% revenue) and support providers (>=10% revenue) (International Equities)",
        "Adult entertainment producers (>=5% revenue) and distributors (>=10% revenue) (International Equities)",
        "Anti-personnel landmines (directly involved in core weapon system or components) (International Equities)",
        "Chemical and biological weapons (directly involved) (International Equities)",
        "Cluster munitions (directly involved) (International Equities)",
        "Nuclear weapons (directly involved) (International Equities)",
        "Military weapons manufacturers (>0% revenue) and support providers (>=5% revenue) (International Equities)",
        "Civilian firearms producers/distributors (>0% revenue) (International Equities)",
        "Nuclear power operators and supply chain (>0% revenue) (International Equities)",
        "Coal, oil and gas companies meeting specified revenue or reserve thresholds (International Equities)",
        "UN Global Compact non-compliant companies and small-cap watchlist companies (International Equities)",
        "Uyghur Forced Labour Prevention Act Entity List companies (International Equities)",
        "Companies failing two of three diversity indicators: women on board, diversity policies, diversity management systems (International Equities)",
        "Tobacco producers/distributors/retailers (>=5% revenue) (International Fixed Interest)",
        "Alcohol producers (>=5% revenue) and distributors/retailers (>=15% revenue) (International Fixed Interest)",
        "Gambling facility owners/operators (>=5% revenue) and support providers (>=15% revenue) (International Fixed Interest)",
        "Adult entertainment producers (>=5% revenue) and distributors/retailers (>=15% revenue) (International Fixed Interest)",
        "Anti-personnel and anti-vehicle landmine producers and component makers (International Fixed Interest)",
        "Biological and chemical weapons manufacturers and critical component producers (International Fixed Interest)",
        "Cluster munitions producers and delivery platform providers (International Fixed Interest)",
        "Nuclear weapons prime contractors and support/component providers (International Fixed Interest)",
        "Conventional weapons producers (>=5% revenue) and specialty weapons producers (>=10% revenue) (International Fixed Interest)",
        "Civilian firearms producers/retailers (and >=5% revenue) (International Fixed Interest)",
        "Genetic engineering companies (>=5% revenue) (International Fixed Interest)",
        "Nuclear power operators (>15% revenue) or high nuclear generation share companies (International Fixed Interest, except green bonds)",
        "Coal, oil and gas companies meeting specified revenue/reserve thresholds (International Fixed Interest, except green bonds)",
        "UN Security Council trade sanction subjects (International Fixed Interest)",
        "UN Global Compact very severe ongoing controversy companies (International Fixed Interest)"
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        "counterparty": "InvestNow Saving and Investment Service Limited",
        "relationship": "Wholly owned subsidiary of same ultimate parent (Implemented Investment Solutions Holding Limited)",
        "nature": "Investment management and distribution services for the Funds; InvestNow also operates the investment platform on which the Funds are hosted and receives platform hosting fees from fund managers/issuers",
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    "conflicts_of_interest": [
      "FundRock and InvestNow are wholly owned subsidiaries of Implemented Investment Solutions Holding Limited, meaning InvestNow as investment manager could be influenced to invest the Funds into investment funds that FundRock acts as manager for, in preference to other investment products.",
      "InvestNow operates the InvestNow investment platform and receives fees from managers and issuers to host their products, which could influence InvestNow to invest the Funds in products on its platform in preference to products that are not on the platform.",
      "Parties related to the Funds, including the staff of FundRock and their families, and the staff of InvestNow and their families, may from time to time invest in the Funds."
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    "fee_waivers": [
      {
        "fund_name": null,
        "description": "We may waive or decrease the charges for the Funds without notice.",
        "expires": null
      },
      {
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        "description": "We may, in our absolute discretion, rebate the buy and sell spread, buy and sell transaction fee and/or charges for the Funds (which includes management fees) by agreement, with an Investor, or a group of Investors.",
        "expires": null
      },
      {
        "fund_name": null,
        "description": "We may decrease or waive the management fee for any Fund at any time without notice.",
        "expires": null
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    ],
    "performance_fee_mechanics": [],
    "material_risks_not_in_pds_summary": [
      {
        "risk_name": "Fund risk",
        "description": "These are risks specific to a Fund. These risks include that a Fund could terminate; the fees and expenses of a Fund could change; FundRock may be replaced as manager; any underlying investment manager's team may change; or that investing in any underlying fund may lead to a different result than investing in the market directly."
      },
      {
        "risk_name": "Key person risk",
        "description": "This is the risk that key individuals are no longer able to fulfil their obligations in respect of the investment or administration of a Fund. FundRock aims to ensure that all staff are highly qualified and capable of mitigating individual key personnel risk. FundRock will ensure that it has sufficient resources to enable the Funds to continue unaffected should any member of the team be unable to fulfil their obligations."
      },
      {
        "risk_name": "Regulatory risk",
        "description": "This is the risk that domestic or international laws or regulations are changed adversely or that regulatory supervision of transactions and reporting is performed by managers and their custodians at less than an appropriate standard. Regulatory risk is managed by FundRock by regularly and closely reviewing changes in the law and seeking expert legal advice where necessary."
      },
      {
        "risk_name": "Derivative risk",
        "description": "Risks associated with investing in derivatives may include the value of the derivative failing to move in line with an underlying investment; potential illiquidity of the derivative; a Fund not being able to meet payment obligations as they arise; and counterparty risk (that is, where the counterparty to the derivative contract cannot meet its obligations under the contract)."
      },
      {
        "risk_name": "Administration risk",
        "description": "This is the risk that instructions in relation to your investments in a Fund have not been accurately relayed or processed or that fraudulent instructions are acted upon. FundRock, the investment manager, and the Administration Manager will follow reasonable electronic instructions in good faith."
      },
      {
        "risk_name": "Country market risk",
        "description": "Within each of the Funds economic, technological, political or legal conditions and market sentiment can lead to volatility in the value of investments and the overall level of liquidity in the market."
      },
      {
        "risk_name": "ESG risk",
        "description": "Funds that incorporate certain environmental, social and governance (ESG) considerations and exclusions may be more concentrated and potentially more volatile than a fund without similar restrictions; there may be additional cost to integrating ESG considerations which could adversely impact returns; the market may not accurately value ESG risk factors; and the methodology to determine the eligibility or weighting of companies based on ESG criteria may differ from an investor's expectation."
      },
      {
        "risk_name": "Liquidity risk",
        "description": "A Fund experiences illiquidity when it is unable to generate sufficient cash to meet its obligations, such as those related to paying investor withdrawal requests. Fund redemptions may be deferred if one or more Redemption Requests within 60 Business Days total more than 10% of Fund Units on issue and deferral is considered in the general interests of all Fund investors."
      }
    ],
    "tax_disclosures": [
      "The Funds have elected to be Portfolio Investment Entities (PIE funds); each Fund allocates taxable income to investors and pays tax on allocated income on behalf of investors with a PIR greater than zero.",
      "Gains derived from cash and fixed interest investments will generally be taxed on an accruals basis; NZ shares will generally be taxed on dividend income received.",
      "The Funds invest into underlying ETFs listed on foreign share markets, which are considered foreign investment fund (FIF) holdings, taxed under the Fair Dividend Rate (FDR) method whereby 5% of the opening market value of the global shares is taxable income to the Fund each year.",
      "Investors will not pay tax on distributions (if any) paid to them from the Funds.",
      "If an Investor is not a New Zealand resident, the Investor's allocated income from the Funds will be taxed at 28%; FundRock will account to the IRD directly for tax on a non-resident Investor's allocated income.",
      "If the Funds invest into offshore based funds there may be foreign withholding tax deducted from income received; however, this withholding tax is not recognised under New Zealand tax law and cannot be utilised against any PIE tax liability.",
      "If the Funds invest in offshore domiciled global share funds, the underlying management fee and expenses may not be tax deductible, which is a function of the Fair Dividend Rate tax methodology.",
      "Investors must advise FundRock of their PIR and IRD number when applying; if no PIR is provided, the investor will automatically be taxed at the maximum default rate of 28%.",
      "Taxable income is attributed annually to 31 March, or at any time an Investor withdraws all or part of their investment from the Funds.",
      "If there is a tax loss or excess tax credits allocated to an Investor, these will generally be available to Investors with a PIR other than 0% in the form of a rebate, re-invested by purchasing Units or included in net proceeds on full withdrawal.",
      "The Commissioner of Inland Revenue can require FundRock to disregard a PIR notified by an Investor if the Commissioner considers the rate to be incorrect."
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    "trustee_supervisor": "Public Trust",
    "auditor": "KPMG",
    "custodian": "Adminis NZ Limited",
    "source_paragraphs": [
      "FundRock and InvestNow are wholly owned subsidiaries of Implemented Investment Solutions Holding Limited. FundRock is the Manager of the Foundation Series Funds, a managed investment scheme.",
      "The Funds have elected to be a Portfolio Investment Entities ('PIE funds'). Under the PIE tax regime, each Fund will allocate its taxable income to Investors and, where applicable, pay tax on allocated income on behalf of Investors for an Investor with a prescribed investor rate ('PIR') of greater than zero.",
      "A related party transaction in respect of the Funds may only be done if the details are notified to the Supervisor and we: 1) certify the transaction is 'permitted' on the basis that it comprises investment into a regulated investment in NZ or Australia, or the transaction is on arm's length terms, or 2) we obtain the Supervisor's consent on the basis that it is in the best interests of investors, or contingent on Special Resolution approval by investors."
    ],
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    "sortedSmartInvestor": "https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH13175/OFR12915/FND20381/",
    "productDisclosureStatement": "/disclose-document/mdo5b7aba8c0ee9f8452a1e075ef0b03475/20260130-Foundation-Series-Funds-Core-Equity-Funds%231-PDS.pdf",
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    "sipoExtractSource": "https://smartinvestor.sorted.org.nz/disclose-document/mdob7fcaddcdc5a7f427aead0b07bd06173/20260130-Foundation-Series-Funds-SIPO.pdf",
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  "licence": {
    "reuse": "Citation with link-back to canonicalUrl required. No paid redistribution.",
    "contact": "hello@managedfunds.nz"
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}