InvestNow is New Zealand’s leading 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.
Best for: Low-cost index fund investing in NZ. The Vanguard Foundation Series funds — only available through InvestNow — offer some of the lowest fees (from 0.20% p.a.) of any managed fund in New Zealand. No platform fee, no transaction fees on fund contributions. Not ideal for: Investors who want to buy individual shares or need a slick app.
InvestNow at a Glance
| Founded | 2017 (NZ) |
| Parent | Implemented Investment Solutions Ltd |
| FMA licensed | ✅ Yes |
| Platform fee | $0 |
| Transaction fee | $0 (for managed fund contributions) |
| Minimum investment | $250 lump sum; $50/month auto-invest |
| Number of funds | 100+ |
| Individual shares | ❌ No |
| KiwiSaver | ❌ No (InvestNow is a separate investment platform) |
| Term deposits | ✅ Yes (from selected banks) |
| App | Basic — primarily a web platform |
Fees in Detail
InvestNow charges no platform fee and no transaction fee on fund investments. You pay only the underlying fund’s management fee, deducted from the fund’s assets annually.
Foundation Series funds (Vanguard) — InvestNow exclusives
These are the flagship reason many investors use InvestNow. The Foundation Series are Vanguard funds specifically structured for NZ investors through InvestNow, with lower fees than you’d find anywhere else in NZ for comparable global exposure.
| Fund | Annual fee | What it holds |
|---|---|---|
| Foundation Series International Shares Fund | 0.20% | Global developed market shares (ex-NZ) |
| Foundation Series International Shares Fund (Hedged) | 0.23% | Same, NZD-hedged |
| Foundation Series NZ Shares Fund | 0.20% | NZX listed shares |
| Foundation Series Total World Fund | 0.25% | Global shares including emerging markets |
| Foundation Series Balanced Fund | 0.29% | ~60% shares / ~40% bonds |
| Foundation Series Conservative Fund | 0.29% | ~40% shares / ~60% bonds |
| Foundation Series Cash Plus Fund | 0.14% | Short-term NZ bonds and cash |
These fees are among the lowest available to retail investors in NZ. The equivalent Vanguard ETFs bought directly overseas would trigger FIF tax complexity; InvestNow’s Foundation Series are NZ-domiciled PIE funds that handle FIF internally.
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
- Change allocations at any time
This makes InvestNow well-suited to the “set and forget” approach: contribute regularly to the Foundation Series International Shares Fund, reinvest distributions, and let compounding do its work.
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 UX is functional rather than polished — it lacks the visual appeal of Sharesies or Kernel. However, it has all the features a long-term fund investor needs:
- Fund search and comparison
- Portfolio performance dashboard
- Transaction history and tax summaries
- Auto-invest setup and management
If you’re a buy-and-hold index fund investor who checks your portfolio quarterly, the web interface is adequate. If you want to monitor markets daily via a slick mobile app, Sharesies or Kernel offer a better experience.
Who InvestNow Is Best For
✅ Good for:
- Investors who want the lowest possible fees on global index fund exposure
- Regular automatic investors (set-and-forget contributions)
- Investors who want to access multiple fund managers in one account
- Those who don’t need individual share-picking capability
- Investors who understand PIE funds and don’t want platform fee drag
❌ Less ideal for:
- Beginners who want a guided, app-driven experience
- Investors who want to buy specific companies or US stocks
- Those who prioritise mobile app quality
InvestNow vs Alternatives
| InvestNow | Sharesies | Kernel | |
|---|---|---|---|
| Platform fee | $0 | 0.50% p.a. (max $250) | $0 |
| Managed funds | 100+ | Some | Kernel funds only |
| Lowest fund fee | 0.20% (Foundation) | ~0.50%+ | 0.25% |
| Individual shares | ❌ | ✅ NZX/ASX/US | ❌ |
| Auto-invest | ✅ | ✅ | ✅ |
| App quality | Basic | Excellent | Good |
| 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?
Verdict
InvestNow is the best option in NZ for low-cost managed fund investing. The Foundation Series Vanguard funds — exclusive to InvestNow — offer some of the cheapest global index fund exposure available to NZ retail investors, at fees (0.20% p.a.) that are hard to beat anywhere. The zero platform fee means every dollar you invest goes to work.
The trade-off is a less polished user experience and no individual share trading. For index fund investors, this is a very good trade.
Recommended for: Buy-and-hold index fund investors, regular automatic contributors, and anyone who wants to minimise total investment costs.
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