InvestNow is a New Zealand managed fund platform: a place to access over 100 funds from NZ and global fund managers, with no platform fee. It’s not an app to buy individual shares; it’s a fund marketplace for investors who want low-cost, diversified managed fund investing.
What it offers: Low-cost index and managed fund investing in NZ. InvestNow's own Foundation Series funds, only available through InvestNow, have some of the lowest annual fund fees (from 0.03% p.a.) of any managed fund in New Zealand. No InvestNow platform fee; most InvestNow managed funds have no transaction fee, though the Foundation Series Core Equity Funds carry a 0.50% buy / 0.50% sell fee on top of their annual fee. Limitations: No individual shares, and a basic interface.
InvestNow at a Glance
| Founded | 2017 (NZ) |
| Parent | Implemented Investment Solutions Ltd |
| FMA licensed | ✅ Yes |
| Platform fee | $0 |
| Transaction fee | $0 for most managed fund contributions; Foundation Series Core Equity Funds carry a 0.50% buy / 0.50% sell fee |
| Minimum investment | $250 lump sum; $50/month auto-invest |
| Number of funds | 100+ |
| Individual shares | ❌ No |
| KiwiSaver | ✅ Yes (the InvestNow KiwiSaver Scheme, issued by FundRock NZ) |
| Term deposits | ✅ Yes (from selected banks) |
| App | Primarily a web platform |
Fees in Detail
InvestNow itself charges no platform fee. Most of its 100+ managed funds have no entry/exit transaction fee: you pay only the underlying fund’s management fee, deducted from the fund’s assets annually. The Foundation Series Core Equity Funds are the exception: because they invest into exchange-traded funds (ETFs), they carry a 0.50% buy fee and 0.50% sell fee on top of the fund’s own annual fee. The Foundation Series Diversified Funds don’t charge a buy or sell fee.
Foundation Series funds: InvestNow’s house-brand range
The Foundation Series is InvestNow’s own range of 10 PIE funds, issued and managed by FundRock NZ (as at October 2026). Seven are Core Equity Funds that each invest into an ETF (Vanguard ETFs for the US 500, Total World and Global ESG funds) and carry the 0.50% buy / 0.50% sell transaction fee, which matters most for investors making frequent small purchases. The other three are Diversified Funds (Balanced, Growth and High Growth) at an all-in 0.37% p.a. with no buy or sell fee.
| Fund | Annual fee (PDS) | Buy/sell fee | What it holds |
|---|---|---|---|
| Foundation Series US 500 Fund | 0.03% | 0.50%/0.50% | Vanguard S&P 500 ETF (VOO), US large-cap |
| Foundation Series Hedged US 500 Fund | 0.03% | 0.50%/0.50% | Same, NZD-hedged |
| Foundation Series US Dividend Equity Fund | 0.06% | 0.50%/0.50% | An ETF of US dividend-paying shares |
| Foundation Series Total World Fund | 0.06% | 0.50%/0.50% | Vanguard Total World Stock ETF (VT), global incl. emerging markets |
| Foundation Series Hedged Total World Fund | 0.06% | 0.50%/0.50% | Same, NZD-hedged |
| Foundation Series Global ESG Fund | 0.10% | 0.50%/0.50% | Vanguard ESG U.S. Stock ETF (ESGV) and ESG International Stock ETF (VSGX) |
| Foundation Series Nasdaq-100 Fund | 0.15% | 0.50%/0.50% | An ETF tracking the Nasdaq-100 |
| Foundation Series Balanced Fund | 0.37% | none | 60% growth / 40% income assets, NZ and international |
| Foundation Series Growth Fund | 0.37% | none | Diversified, more growth assets than Balanced |
| Foundation Series High Growth Fund | 0.37% | none | Diversified, mostly growth assets |
Fees as listed on InvestNow’s Foundation Series page, October 2026. The fund updates show slightly different total fees for some funds (for example 0.38% to 0.39% for the Diversified Funds).
There is no Foundation Series Conservative, cash, bond or NZ-shares fund. These fees are among the lowest available to retail investors in NZ. The equivalent ETFs bought directly overseas would trigger FIF tax complexity; InvestNow’s Foundation Series are NZ-domiciled PIE funds that handle FIF internally.
InvestNow also separately lists the Vanguard International Shares Select Exclusions Index Fund (0.20% p.a., not part of the Foundation Series brand, 0.30% buy fee) for investors who want developed-market global equities outside the Foundation Series range.
Other funds on InvestNow
InvestNow also offers funds from:
- Kernel (0.25% p.a.)
- Nikko Asset Management (0.30%–0.75%)
- Harbour Asset Management (0.40%–0.80%)
- Dimensional Fund Advisors (0.35%–0.45%)
- Russell Investments (0.35%–1.00%)
- AMP, Milford, Fisher Funds, and many more active managers
You can hold multiple funds from different managers within a single InvestNow account — no separate accounts needed.
What You Can Invest In
Managed funds (PIE and non-PIE)
Over 100 managed funds across asset classes: NZ shares, global shares, bonds, balanced, conservative, and growth. Both passive index funds and active managers are available. All funds display their FMA risk rating (1–7) and have a Product Disclosure Statement (PDS).
Term deposits
InvestNow also offers term deposits from selected NZ banks. These can be placed and managed through the same platform — useful for investors who want both growth investments and capital-protected savings in one place.
What InvestNow does NOT offer
- Individual NZX or ASX shares
- US or international direct shares
- KiwiSaver (it’s a non-KiwiSaver investment platform)
- A consumer-grade mobile app (it’s primarily web-based)
Auto-Invest and Regular Contributions
InvestNow’s automatic investment plan is one of its strongest features:
- Set up a regular bank transfer and InvestNow automatically allocates it across your chosen funds
- Minimum auto-invest: $50/month per fund
- No transaction fee on automatic contributions into most managed funds, but the Foundation Series Core Equity Funds’ 0.50% buy fee applies to every auto-invest contribution too, since it’s the fund’s own entry fee, not a platform fee
- Change allocations at any time
This supports a “set and forget” approach: regular contributions to a fund such as the Foundation Series Total World Fund (0.06% p.a.) or a diversified fund such as the Foundation Series Balanced Fund (0.37% p.a., no buy fee), with distributions reinvested.
Tax Handling
All Foundation Series and most InvestNow funds are PIE funds. Tax is deducted at your PIR rate before returns are paid. You don’t include PIE income in your income tax return — the fund handles it.
Set your PIR correctly in your InvestNow account (My Profile → Tax Details). Getting it wrong means overpaying or owing IRD. See PIR Rate NZ for how to determine your correct rate.
InvestNow does not expose you to FIF tax on its managed funds — these are NZ-domiciled PIE funds that handle FIF internally, even when the fund invests globally.
App and User Experience
InvestNow is primarily a web-based platform. Its features include:
- Fund search and comparison
- Portfolio performance dashboard
- Transaction history and tax summaries
- Auto-invest setup and management
Sharesies and Kernel are app-based platforms.
Features and Limitations
Features:
- Foundation Series annual fees from 0.03% on global index fund exposure
- Regular automatic investing
- Multiple fund managers in one account
- No platform fee
Limitations:
- Less guidance than app-driven platforms; assumes some understanding of PIE funds
- No individual companies or US stocks
- Primarily web-based
InvestNow vs Alternatives
| InvestNow | Sharesies | Kernel | |
|---|---|---|---|
| Platform fee | $0 | $0 ongoing (1.9% per-trade brokerage, capped $25 NZD/$15 AUD/$5 USD) | $0 |
| Managed funds | 100+ | Some | Kernel funds only |
| Lowest fund fee | 0.03% (Foundation Series US 500 Fund) | ~0.20%+ (fund fee) plus brokerage to buy in | 0.25% |
| Individual shares | ❌ | ✅ NZX/ASX/US | ❌ |
| Auto-invest | ✅ | ✅ | ✅ |
| Term deposits | ✅ | ❌ | ❌ |
Full comparison: Sharesies vs InvestNow · Kernel vs InvestNow
Is InvestNow Safe?
InvestNow is FMA-licensed and operates under the Financial Markets Conduct Act 2013. Investments are held in managed funds that are registered managed investment schemes — meaning they have independent supervisors and client assets are legally ring-fenced from InvestNow’s own business operations.
See What Happens If an Investment Platform Goes Bust NZ?
Summary
InvestNow’s Foundation Series funds, exclusive to InvestNow, are among the cheapest global index fund exposure available to NZ retail investors, with annual fees from 0.03% p.a. (US 500 Fund) to 0.37% p.a. (the Diversified Funds). There is no InvestNow platform fee, though the Foundation Series’ own 0.50% buy/sell fee applies on top of the annual fee for its Core Equity (index) funds.
The trade-offs are a primarily web-based interface and no individual share trading. Whether that matters depends on whether you want funds only or individual companies too.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.
Next Steps
- InvestNow Foundation Series — Which Fund Should You Choose?
- Kernel Review NZ 2026 — Another low-fee platform worth comparing
- Sharesies vs InvestNow — Full comparison
- PIR Rate NZ
- Back to Platform Reviews