PDS replacement and lodgement
A Manager must lodge an updated PDS on the FMA Disclose register whenever a material change occurs to a scheme, and at minimum annually. Each lodgement is dated and replaces the prior version.
A NZ retail managed-investment scheme's Product Disclosure Statement must be kept current. Under the FMC Act and FMC Regulations the Manager must lodge a replacement PDS on the FMA Disclose register whenever there is a material change to the scheme — for example, a fee change, a SIPO amendment, a change of Manager or Supervisor, a fund closure or addition, or a change in the standardised risk indicator that crosses a band threshold.
In addition to material-change lodgements, every PDS must be re-lodged at least annually. Each lodgement carries a publication date; the most recently dated PDS is the active document for new investors. Historic PDSs remain accessible on the Disclose register, which is how ManagedFundsNZ builds the per-fund PDS-version timeline.
For existing investors, material changes are usually notified directly by the Manager via email, post, or platform message in addition to being lodged on Disclose. The minimum-investment, withdrawal-terms and fee changes that affect the contract require sufficient notice to allow the investor to exit before the change takes effect.
Related terms
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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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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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FMC Act
Financial Markets Conduct Act 2013 (FMC Act)
The principal NZ statute governing the issue, supervision and conduct of managed-investment schemes, securities offers, and financial-product disclosure.