Fund Managers Otago Limited is a Fund Manager and does not offer investors investment advice.
For investment advice we recommend that you make contact with a qualified registered investment advisor.

The NZMIT P.I.E. Fund is currently closed for new investments.

Click on the icons below to download

(PDF format: Best viewed in Acrobat Reader)

The Fund’s objective is to offer an investment in a diversified portfolio of first mortgages, providing returns that generally outperform bank term deposit rates.

The key investment points are:

• The minimum Investment is $500.
  
  
• The Fund was established in Dunedin in 1994 as a Unit Trust, and transferred in 2001 into a Group Investment Fund.
  
  
• $54 Million of unitholder funds as at 15 December 2011 (unaudited figure).
  
  
• Returns to investors are on a floating rate and are paid at the end of each quarter (three-month period). The quarterly income received from the Fund’s mortgage portfolio determines the level of return to investors. Quarterly returns to investors have out-performed advertised bank one year term deposit interest rates for several registered banks, as illustrated in our newsletter on the News and Info page.
  
  
• Returns can either be paid into an investors bank account or re-invested in further units in the Fund.
  
  
• Investments in the Fund are spread across a portfolio of registered first mortgages secured over rural, commercial and residential properties nation-wide.
  
  
• There is no fixed term for investments, although the fund is geared towards medium to long term investors. Withdrawals will be paid within 90 business days after the Manager receives your withdrawal notice.
  
  
• There are no entry fees and no application fees. The Manager has discretion to charge a fee of up to 2% on any money withdrawn 12 months after investment and up to 1% on any money withdrawn more than 12 months but less than 24 months after investment.
  
  
• Investors can make regular contributions to their investment.
  
  
• As a PIE registered Group Investment Fund tax is deducted at the investors’ nominated prescribed investor rate.
  
  
• This investment is available to NZ residents only.

Valuation of Units P.I.E. Fund

The Manager on behalf of the Trustee shall calculate the Fund value and unit value as at each valuation day. A valuation day, being a day specified by the Trustee as a day on which the market value of the investments in the Fund is determined, occurs at least once a month. Whenever a determination of the Fund value is required, such value shall be the value calculated as at the valuation day. For more information on the valuation of units please refer to the Prospectus, a copy of which can be found on this website.

Date of Valuation	Unit Price
11 October 2010	0.984
15 October 2010	0.985
26 October 2010	0.986
1 November 2010	0.987
8 November 2010	0.990
15 November 2010	0.991
22 November 2010	0.992
30 November 2010	0.993
8 December 2010	0.994
15 December 2010	0.994
22 December 2010	1.000
10 January 2011	0.986
18 January 2011	0.982
31 January 2011	0.983
9 February 2011	0.985

Date of Valuation	Unit Price
21 February 2011	0.986
1 March 2011	0.987
14 March 2011	0.988
22 March 2011	0.998
31 March 2011	0.966
30 April 2011	0.963
17 May 2011	0.964
31 May 2011	0.970
14 June 2011	0.972
30 June 2011	0.973
19 July 2011	0.943
3 August 2011	0.944
17 August 2011	0.945
31 August 2011	0.946
14 September 2011	0.944

Date of Valuation	Unit Price
30 September 2011	0.945
18 October 2011	0.938
1 November 2011	0.903
15 November 2011	0.904
28 November 2011	0.905
14 December 2011	0.907
9 January 2012	0.888
19 January 2012	0.868
2 February 2012	0.868