How is an OMI different from a PDS?

A PDS is the consumer-facing summary required by section 49 of the FMC Act — it must be short, plain-English and disclose headline fees, risks, returns and how to invest. An OMI is the supplementary disclosure under regs 51–54 — anything material that the PDS does not cover. In practice, granular conflicts, related-party arrangements and detailed fee mechanics live in the OMI.

Where do I find a fund's OMI?

Every NZ-registered managed-investment scheme files its OMI on the FMA Disclose register at disclose-register.companiesoffice.govt.nz under the scheme's "Documents" tab. ManagedFundsNZ links to the OMI PDF on each fund page when an extract is available.

What performance-fee detail lives in the OMI?

The OMI is where the verbatim performance-fee mechanics live — the hurdle benchmark, the high-water-mark wording, the accrual frequency, the cap (if any), and any catch-up or carry-forward provisions. The PDS summarises that a performance fee exists; the OMI defines exactly how it is calculated. ManagedFundsNZ's /funds/{m}/{f}/performance-fee-explained/ surfaces this directly from the OMI extract.

What custodian, auditor and supervisor information is in the OMI?

The OMI must name the scheme's independent supervisor (trustee), the auditor, the custodian and the registry provider. These are the parties that segregate scheme assets, sign off financial statements, and hold securities on behalf of investors. They are a key part of the investor-protection model under the Financial Markets Conduct Act 2013 — investor money is held by the custodian, not the manager, and the supervisor monitors the manager's compliance with the scheme's governing documents.

OMI

Other Material Information (OMI)

A supplementary FMA-required disclosure document containing material information about a fund or scheme — typically conflicts of interest, related-party transactions, fee waivers, auditor/trustee/custodian identities — that is not included in the PDS.

Other Material Information, or OMI, is the catch-all FMA-mandated disclosure that captures any material information about a managed-investment scheme that is not already in the Product Disclosure Statement. The OMI requirement sits under the Financial Markets Conduct Regulations 2014 (regs 51–54) and the FMA's Disclose-register guidance — every NZ-registered MIS must publish one and keep it current.

OMIs typically cover: granular performance-fee mechanics (high-water-mark wording, hurdle benchmarks, performance-fee caps); related-party transactions (e.g. underlying-fund investments managed by an affiliate); conflicts of interest and how they are managed; fee waivers or rebates; the identity of the auditor, trustee/supervisor, custodian and registry provider; tax disclosures specific to the scheme; and material risks not summarised in the PDS.

Like the PDS and SIPO, the OMI is filed on the FMA Disclose register and updated when material information changes. Investors comparing funds in detail should read the OMI alongside the PDS and SIPO — it is often where the granular fee mechanics and structural conflict disclosures live.

On ManagedFundsNZ, each fund page surfaces the OMI-derived auditor, trustee/supervisor, custodian and conflicts list — sourced from the latest OMI on Disclose and re-checked at each manager filing.

Real examples from NZ fund disclosures

Verbatim quotes from NZ retail managed-fund disclosure documents lodged on the FMA Disclose register.

Amova NZ Investment Scheme — related-party manager disclosure

"Amova Asset Management Europe Limited (AAME) have been engaged to manage the global equity assets of the Amova Wholesale Global Shares Fund. AAME is a related party of Amova NZ, both parties having common ownership. Amova Asset Management Americas Inc. (AAMA) manages the assets of the Amova ARK Disruptive Fund Innovation Fund. AAMA is a related party of Amova NZ, both parties having common ownership."

— Amova NZ Investment Other Material Information, 24 November 2025

View PDF on FMA Disclose

See this in practice

Common questions

How is an OMI different from a PDS?: A PDS is the consumer-facing summary required by section 49 of the FMC Act — it must be short, plain-English and disclose headline fees, risks, returns and how to invest. An OMI is the supplementary disclosure under regs 51–54 — anything material that the PDS does not cover. In practice, granular conflicts, related-party arrangements and detailed fee mechanics live in the OMI.
Where do I find a fund's OMI?: Every NZ-registered managed-investment scheme files its OMI on the FMA Disclose register at disclose-register.companiesoffice.govt.nz under the scheme's "Documents" tab. ManagedFundsNZ links to the OMI PDF on each fund page when an extract is available.
What performance-fee detail lives in the OMI?: The OMI is where the verbatim performance-fee mechanics live — the hurdle benchmark, the high-water-mark wording, the accrual frequency, the cap (if any), and any catch-up or carry-forward provisions. The PDS summarises that a performance fee exists; the OMI defines exactly how it is calculated. ManagedFundsNZ's /funds/{m}/{f}/performance-fee-explained/ surfaces this directly from the OMI extract.
What custodian, auditor and supervisor information is in the OMI?: The OMI must name the scheme's independent supervisor (trustee), the auditor, the custodian and the registry provider. These are the parties that segregate scheme assets, sign off financial statements, and hold securities on behalf of investors. They are a key part of the investor-protection model under the Financial Markets Conduct Act 2013 — investor money is held by the custodian, not the manager, and the supervisor monitors the manager's compliance with the scheme's governing documents.

Other Material Information (OMI)

Real examples from NZ fund disclosures

See this in practice

Common questions

Primary sources

Related terms