MIS · Scheme
Managed Investment Scheme (MIS)
The legal vehicle under the Financial Markets Conduct Act 2013 that holds investor money in a pooled fund. Every NZ retail managed fund is part of a registered MIS.
A Managed Investment Scheme (MIS) is the legal vehicle defined under the Financial Markets Conduct Act 2013 (FMC Act) that pools investor money for collective investment. Every NZ retail managed fund and every KiwiSaver scheme operates as part of a registered MIS.
Each MIS has a Manager (the entity making investment decisions and charging fees), a Supervisor (an independent licensed entity that holds scheme assets in trust and oversees the manager), and may have multiple separate funds within it. The MIS is registered on the FMA's licensed-MIS register.
A single fund manager can operate multiple MIS — for example, separating its KiwiSaver scheme MIS from its retail managed-fund MIS for licensing and regulatory reasons.
Primary sources
Related terms
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Disclose register · disclose-register.companiesoffice.govt.nz
FMA Disclose register
The official New Zealand register of every retail managed-investment scheme — the primary public source for fund PDSs, SIPOs, OMIs, Quarterly Fund Updates and full-portfolio holdings disclosures.
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PDS
Product Disclosure Statement (PDS)
The headline legal document a NZ managed fund or KiwiSaver scheme provides to retail investors, summarising the fund, fees, risks, and how to invest.
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MIS supervisor · Trustee
Supervisor
A licensed independent entity that holds the assets of a managed-investment scheme in trust and supervises the manager's compliance with the SIPO and FMC Act.