Platform comparison · fees as at 5 July 2026
InvestNow vs Direct with the fund manager
As at 5 July 2026, InvestNow publishes an account fee of "None" and a managed-fund order fee of "None on most funds"; Direct with the fund manager publishes "Set by each manager" and "Per the fund's PDS" respectively, per each platform's own published pricing.
Direct with the fund manager
Each fund manager individually
Fees, side by side
Each figure is read from the platform's own published pricing/FAQ page — linked under every cell with the date it was accessed. Where a platform doesn't publish a figure in those sources, the cell says so; nothing is estimated.
| Fee | InvestNow | Direct with the fund manager |
|---|---|---|
| Account / admin fee | None "InvestNow does not charge any account or administration fees." As at 5 July 2026 · InvestNow — What are the fees and costs? | Set by each manager Any account or entry fee must be disclosed in the fund's PDS on the FMA Disclose register; most NZ retail managers publish none. As at 5 July 2026 · FMA Disclose register (per-fund PDS) |
| Managed-fund order fee | None on most funds A small number of funds carry InvestNow-levied transaction fees — the Vanguard funds and the Foundation Series Core Equity funds are charged 0.50% on buys and 0.50% on sells; the Foundation Series Diversified funds are not. As at 5 July 2026 · InvestNow — Foundation Series PIE funds (fee table) | Per the fund's PDS Buy/sell spreads may apply; they are disclosed per fund, not platform-imposed. As at 5 July 2026 · FMA Disclose register (per-fund PDS) |
| Minimum investment | $250 one-off · $50 via a Regular Investment Plan "Minimum investment amount for Managed Funds purchases is $50, when part of a Regular Investment Plan, or $250 for one-off investments." As at 5 July 2026 · InvestNow — minimum investment FAQ | Manager-specific Minimum initial investments are disclosed in each PDS — the per-band directory on this site lists every fund by disclosed minimum. As at 5 July 2026 · FMA Disclose register (per-fund PDS) |
The fund's own annual fund charge (set in its PDS) applies on either platform and is not shown here — see each fund's page, or the fund-fees guide with its fee-band directory. Platform fees change; each platform's own pricing page is authoritative.
Which funds can you actually reach?
InvestNow
118 of the 304 funds tracked on this site have InvestNow availability verified against InvestNow's own fund pages within the last 90 days — the widest verified shelf overlap with this site's fund universe. Each fund page shows its own verified-on date.
Open the fund screener →Direct with the fund manager
304 of the 304 tracked funds are recorded as open to direct application with the manager. Direct minimums are manager-specific — the minimum-investment directory lists every fund by its disclosed minimum.
Minimums directory →Structural differences
- → One InvestNow login covers funds from many managers with a single statement and tax summary; investing direct means a separate account, login and statement per manager.
- → Direct minimums are manager-specific and frequently higher than InvestNow's $250 one-off / $50 regular-plan minimums.
- → The fund's own annual charge is the same either way — the fund charges for funds on InvestNow are the same as investing directly with the manager (per InvestNow's fees FAQ); a small number of funds carry InvestNow transaction fees on top.
- → Some managers offer balance-tier fee rebates only to direct investors — check the manager's own PDS/OMI.
Questions about this comparison
What does InvestNow charge on managed-fund orders?
None on most funds. A small number of funds carry InvestNow-levied transaction fees — the Vanguard funds and the Foundation Series Core Equity funds are charged 0.50% on buys and 0.50% on sells; the Foundation Series Diversified funds are not. (As at 5 July 2026, per InvestNow — Foundation Series PIE funds (fee table).)
What does Direct with the fund manager charge on managed-fund orders?
Per the fund's PDS. Buy/sell spreads may apply; they are disclosed per fund, not platform-imposed. (As at 5 July 2026, per FMA Disclose register (per-fund PDS).)
Do the funds themselves cost the same on each platform?
A fund's own annual fund charge is set by the fund manager in its PDS, not by the platform — the same fund carries the same annual charge wherever it is bought. The platform layer adds (or doesn't add) account fees, order fees, FX fees and minimums, which is what this page compares.
Where do the fee figures come from and how current are they?
Every figure is read from the platform's own published pricing or FAQ page and carries that source URL plus the date it was accessed (currently 5 July 2026). Platform fees change — treat each platform's own pricing page as authoritative, and email hello@managedfunds.nz if a figure has drifted.
Is this a recommendation of one platform?
No. ManagedFundsNZ is not licensed to provide financial advice and is not affiliated with any platform on this page. This is a mechanical, dated comparison of published fees and structural facts; which platform suits an investor depends on circumstances this page does not assess.
More platform comparisons
ManagedFundsNZ is not affiliated with any platform on this page and accepts no paid placement. This is general information, not financial advice — read the relevant PDS and consider personalised advice from a licensed financial adviser before investing.