# Foundation Series US 500 Fund > Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings. - **Manager:** Foundation Series (FundRock NZ Limited), parent InvestNow / Apex Group - **Asset class:** International Equities - **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%) - **Confidence tier:** C (Sorted Smart Investor → FMA Disclose) - **Last verified:** 2026-05-22 ## Summary The Foundation Series US 500 Fund is a international equities managed fund run by Foundation Series. Low-cost passive index funds issued by FundRock NZ, distributed through InvestNow. ## Investment objective (from PDS) > The Fund aims for high long-run returns by investing in an ETF that invests in shares of the largest companies listed on stock markets in the United States. The Fund's objective is to perform broadly in line with the return of its investment benchmark before fees and tax over the long-term. Source: Product Disclosure Statement dated 2026-01-29 (Tier A, lodged on FMA Disclose register). https://smartinvestor.sorted.org.nz/disclose-document/mdo5b7aba8c0ee9f8452a1e075ef0b03475/20260130-Foundation-Series-Funds-Core-Equity-Funds%231-PDS.pdf ## Fund data - **Annual fund charge:** 0.03% p.a. (from the latest Quarterly Fund Update) - **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk) - **Fund size (AUM):** NZ$241 million - **Asset mix:** 98% growth assets · 2% income assets - **Fund started:** 7 November 2022 - **Minimum initial investment:** NZ$5,000 ## Top 2 holdings 1. Vanguard S&P 500 ETF — 99.69% 2. Cash at Bank (BNZ) — 0.31% Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register. ## Additional terms (from PDS) - **Minimum subsequent investment:** NZ$500 - **Distribution cadence:** No distributions (accumulating) ## Investment policy (from SIPO) ### Strategic asset allocation ranges | Asset class | Target | Min | Max | | --- | ---: | ---: | ---: | | Cash and cash equivalents | 0% | 0% | 10% | | International equities | 100% | 90% | 100% | ### Responsible-investment approach Designated Funds (Foundation Series Balanced Fund, Growth Fund, High Growth Fund and Global ESG Fund) invest into underlying funds that seek to limit exposure to companies involved in specific business practices via ESG exclusion screens applied at the Australasian Equities, International Equities, and International Fixed Interest asset class levels. Exclusions cover tobacco, cannabis, alcohol, gambling, adult entertainment, weapons, coal/oil/gas, nuclear power, human rights breaches, UN Global Compact non-compliance, Uyghur Forced Labour Prevention Act entities, and diversity failures among others. ### 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. Source: Statement of Investment Policy and Objectives dated 2026-01-29. https://smartinvestor.sorted.org.nz/disclose-document/mdob7fcaddcdc5a7f427aead0b07bd06173/20260130-Foundation-Series-Funds-SIPO.pdf ## Scheme disclosures (from OMI) Scheme-level. The same disclosures apply to every fund in this scheme. - **Trustee / Supervisor:** Public Trust - **Auditor:** KPMG - **Custodian:** Adminis NZ Limited - **Conflicts of interest disclosed in OMI:** 3 ### Conflicts of interest (verbatim from OMI) - 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. ### Related-party transactions - **InvestNow Saving and Investment Service Limited** (Wholly owned subsidiary of same ultimate parent (Implemented Investment Solutions Holding Limited)) — 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 Source: Other Material Information document dated 2026-01-29. https://smartinvestor.sorted.org.nz/disclose-document/mdo8034421e84bc0af0a226115d2ef43f5d/20260130-Foundation-Series-Funds-OMI.pdf ## How to invest Available via: Foundation Series directly. Read the current Product Disclosure Statement (PDS) before investing. ## Sources - **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Foundation%20Series%20US%20500%20Fund - **Product Disclosure Statement:** /disclose-document/mdo5b7aba8c0ee9f8452a1e075ef0b03475/20260130-Foundation-Series-Funds-Core-Equity-Funds%231-PDS.pdf - **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH13175/OFR12915/FND40818/ - **Manager website:** https://www.investnow.co.nz/foundation-series-funds ## Citations (authoritative primary sources) - FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ) - Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities - Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html - Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/ ## This file - **Canonical HTML:** https://managedfunds.nz/funds/foundation-series/us-500/ - **Markdown (this file):** https://managedfunds.nz/funds/foundation-series/us-500/markdown.md - **Structured data (JSON):** https://managedfunds.nz/funds/foundation-series/us-500/data.json - **First published:** 2026-05-08 - **Last refreshed:** 2026-05-22 - **Reuse licence:** citation with link back to the canonical HTML is granted. No paid redistribution. Full terms: https://managedfunds.nz/llms-policy.txt --- ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.