InvestNow Reaches $2 Billion In Funds Under Management

4 December 2024: Online investment platform InvestNow has capped its biggest growth year since the Covid pandemic by topping $2 billion in funds under management.

InvestNow has grown 30% over the past year, topping 30,000 customers across managed funds, term deposit and KiwiSaver portfolios, and cementing itself as one of New Zealand’s leading investment platforms.

InvestNow general manager Mike Heath says the last year has been particularly strong for in-house PIE funds and KiwiSaver.

“Our Foundation Series Funds range that provides low-cost access to underlying U.S. ETFs are particularly popular. We developed these funds ourselves as a vehicle to make popular overseas options more accessible, and the response has been really pleasing.

“We’ve also seen 50% growth in our award-winning KiwiSaver scheme this year, with Kiwis looking for a solution where they can have their KiwiSaver portfolios managed by more than one expert investment manager, for example Milford and Fisher Funds, delivering greater diversity in their portfolios.”

Heath says InvestNow has put a big focus on making KiwiSaver easier for financial advisers.

“Advisers appear to enjoy how we’ve removed the paperwork and hassle, streamlining how they can onboard, rebalance and switch customers. We regularly receive great feedback about the enhanced portal and reporting features we’ve developed.”

Looking ahead, Heath says he’s encouraged about continued growth in 2025, with a new platform, an expanded range of investment options based on in-demand customer options, and a focus on leveraging more capability from InvestNow’s parent organisation, Apex Group.

“What impresses me the most is how we are able to provide a proposition and customer experience for more than 30,000 customers with a relatively small, local team.

“It’s pretty amazing to have built such a successful, scalable business that has customer experience right at the forefront of everything we do, but it speaks to the talent and drive of our people.”

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