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Over the last three years, Moneyworks clients have benefitted from reductions in fees from ANZ on the OneAnswer Portfolio Service and also on their KiwiSaver. ANZ has announced further reductions in fees as follows.
OneAnswer Portfolio Service from 1st August 2019
Particularly valuable to Moneyworks clients:
There will be no custodial charge for cash management accounts
The fee on term deposits within your portfolio will be 0.15% (less the 0.10% rebate for Moneyworks clients).
The rest of the miscellaneous fee reductions are below:
Below is a summary of the fee changes.
| Instrument / fee type | Current fee or margin | New fee or margin |
| Cash management accounts | 0.25% to 0.35% | 0.00% |
| Term Deposits | 0.25% to 0.35% | 0.15% |
| Large clients $5m+ | 0.25% | 0.10% |
| OA MAC Portfolios | 0.03% | 0.00% |
| AUD/NZD & NZD/AUD FNZ FX margin | 30pips | 25pips |
| GBP/NZD & NZD/GBP FNZ FX margin | 35pips | 25pips |
| USD/NZD & NZD/USD FNZ FX margin | 70pips | 50pips |
| FNZ margin on USD interest | 0.50% | 0.25% |
| FNZ margin on AUD interest | 1.00% | 0.50% |
| FNZ margin on HKD interest | 0.75% | 0.25% |
| FNZ margin on GBP interest | 0.50% | 0.25% |
| FNZ margin on NZD interest | 0.07% | 0.10% |
The above in conjunction with the below previously advised Jarden (FNZC) brokerage reductions, have reduced the overall client platform costs.
| Instrument | Old Brokerage* | New Brokerage* |
| NZX Shares | 0.40% or $40 | 0.30% or $30 |
| NZX Fixed Interest | 0.30% or $40 | 0.25% or $30 |
| ASX Shares | 0.40% or AU$40 | 0.30% or AU$30 |
| ASX Fixed Interest | 0.30% or AU$40 | 0.25% or AU$30 |
| Offshore Shares | 0.40% or $40 | 0.30% or $40 |
| Offshore Fixed Interest | 0.30% or $40 | 0.30% or $40 |
*Plus any external charges such as stock exchange trading fees.
ANZ Multi-Asset Class and Single-Asset Class Funds
The new annual fund charges are outlined below.
| OneAnswer Multi-Asset-Class Funds | Current annual fund charge | New annual fund charge from 1 July 2019 | Change |
| Growth Fund | 1.41% | 1.13% | -0.28% |
| Balanced Growth Fund | 1.36% | 1.08% | -0.28% |
| Balanced Fund | 1.31% | 1.03% | -0.28% |
| Conservative Balanced Fund | 1.26% | 0.98% | -0.28% |
| Conservative Fund | 1.21% | 0.91% | -0.30% |
| OneAnswer Single-Asset-Class Funds | Current annual fund charge | New annual fund charge from 1 July 2019 | Change |
| Australian Share Fund | 1.29% | 1.18% | -0.11% |
| Balanced Fund | 1.30% | 1.09% | -0.21% |
| Equity Selection Fund | 1.29% | 1.29% | No change |
| International Share Fund | 1.29% | 1.19% | -0.10% |
| NZ Share Fund | 1.19% | 1.18% | -0.01% |
| Property Securities Fund | 1.19% | 1.18% | -0.01% |
| New Zealand Fixed Interest Fund | 0.74% | 0.72% | -0.02% |
| International Fixed Interest Fund | 0.94% | 0.93% | -0.01% |
| International Property Fund | 1.34% | 1.18% | -0.16% |
