Premium Investments - AMP Personal Unit Trust€¦ · Using a financial adviser cannot prevent you...

Premium Investments - AMP Personal Unit Trust

Investment Statement 1 December 2015

Important information(The information in this section is required under the Securities Act 1978.)

Investment decisions are very important. They often have long-term consequences. Read all documents carefully. Ask questions. Seek advice before committing yourself.

Choosing an investmentWhen deciding whether to invest, consider carefully the answers to the following questions that can be found on the pages noted below:

Page What sort of investment is this? 4

Who is involved in providing it for me? 17

How much do I pay? 19

What are the charges? 21

What returns will I get? 25

What are my risks? 30

Can the investment be altered? 34

How do I cash in my investment? 38

Who do I contact with inquiries about my investment? 41

Is there anyone to whom I can complain if I have problems with the investment? 43

What other information can I obtain about this investment? 45

In addition to the information in this document, important information can be found in the current registered prospectus for the investment. You are entitled to a copy of that prospectus on request.

The Financial Markets Authority regulates conduct in financial marketsThe Financial Markets Authority regulates conduct in New Zealand’s financial markets. The Financial Markets Authority’s main objective is to promote and facilitate the development of fair, efficient, and transparent financial markets.

For more information about investing, go to http://www.fma.govt.nz.

Financial advisers can help you make investment decisionsUsing a financial adviser cannot prevent you from losing money, but it should be able to help you make better investment decisions.

Financial advisers are regulated by the Financial Markets Authority to varying levels, depending on the type of adviser and the nature of the services they provide. Some financial advisers are only allowed to provide advice on a limited range of products.

When seeking or receiving financial advice, you should check:

–– the–type–of–adviser–you–are–dealing–with:–– the–services–the–adviser–can–provide–you–with:–– the–products–the–adviser–can–advise–you–on.

A financial adviser who provides you with personalised financial adviser services may be required to give you a disclosure statement covering these and other matters. You should ask your adviser about how he or she is paid and any conflicts of interest he or she may have.

Financial advisers must have a complaints process in place and they, or the financial services provider they work for, must belong to a dispute resolution scheme if they provide services to retail clients. So if there is a dispute over an investment, you can ask someone independent to resolve it.

Most financial advisers, or the financial services provider they work for, must also be registered on the financial service providers register. You can search for information about registered financial service providers at http://www.fspr.govt.nz.

You can also complain to the Financial Markets Authority if you have concerns about the behaviour of a financial adviser.

This is an Investment Statement for the purposes of the Securities Act 1978.

Pursuant to the transitional provisions of the Financial Markets Conduct Act 2013, the Securities Act 1978 and Unit Trusts Act 1960, amongst others, continue to apply to the offer of securities contained in this Investment Statement.

Terms used throughout this Investment Statement

To–help–you–better–understand–this–Investment–Statement,–you’ll–find–definitions–of–terms–used–in–the–glossary–of–terms–on–page–48.

A quick overview of Premium Investments - AMP Personal Unit Trust

What is Premium Investments - AMP Personal Unit Trust?Premium Investments - AMP Personal Unit Trust is an investment designed to help you save for anything you want. It could be a short term goal, such as buying a new car or renovating your kitchen. Or a long term goal, such as saving for a deposit on a house, or funding a university education for your children. Easy to manage and flexible to suit your needs, PUT is designed for both first time and more experienced investors.

PUT is open to anyone wanting an easy, flexible investment.

Who can invest?Anyone can invest in PUT. No matter what stage of life you’re at, or what you want to save for, PUT has a range of investment funds to suit you. You can invest as an individual, two people can invest together, or you could be a trust, company or partnership.

Whatever your goals are in life, the AMP Personal Unit Trust (PUT) is easy to manage and flexible to suit your needs. It’s designed for both first time and more experienced investors.

How are my savings invested?PUT is a unit trust, which means your money is pooled with other people’s money. This wider pool of investors gives you access to a greater range of investments than you’d likely be able to access as an individual. Depending on your financial goal, your savings are invested in different types of assets, such as cash, fixed interest, property and shares.

160yrs AMP HAS BEEN LOOKING AFTER KIWIS SINCE 1854.

We can help you achieve your financial goals by using experienced investment professionals to manage your money.

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How easy is it to invest?It’s as easy as 1-2-3.

1. Decide how many investment accounts you want to set up to meet your financial goals.

2. Tell us how much you’d like to put into each investment account.

3. For each investment account, tell us which funds from the PUT range you’d like to invest in.

You can make regular payments by direct debit or lump sum payments at any time. You can also make changes to your regular payments at any time and even change your choice of funds. To find out more, go to page 20.

What fees do I have to pay?Because your PUT investment is managed by financial professionals, there are some costs involved. We charge fees such as an annual management fee and an administration fee. You’ll find details of all the fees on page 22.

How do I get my money out?PUT has very few restrictions. In fact, you can request a withdrawal anytime you like. You can set up a regular or one-off withdrawal, or even transfer your investment to someone else. Some minimums apply to balances and withdrawals – for more information see page 39.

What are the risks?Every investment has risks that could affect the value of your savings. As a general rule, the higher the level of return, the greater the risk. Investments in PUT are not guaranteed. For more information about risks, see page 31.

If you need to get your money out for any reason, PUT makes it simple.

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How do I keep track of my investment?You’ll get customer statements twice a year. You can also sign up for our Telephone Transaction Service (TTS), which allows you to manage your investment, make withdrawals and check your transactions over the phone. Just fill in the TTS section of the application form at the back of this Investment Statement.

Want to sign up?Please–read–the–information–in–this–Investment–Statement–before–deciding–to–invest.–If–there–is–anything–you–don’t–understand,–please–call–us–on–0800 267 111–or–your–Adviser.–To–sign–up,–simply–complete–the–application–form–and–return–it–to–us.

What advice is available?We’re here to help if you have any questions. You can visit our website at amp.co.nz or talk to our Customer Services Team on 0800 267 111. We also recommend you seek personalised advice from an Adviser. If you need help finding an Adviser, we can put you in touch with one.

A disclosure statement is available from your Adviser, on request and free of charge.

Managing your investment is easy with our Telephone Transaction Service.

Personalised advice at your fingertips.

AMP–has–one–of–the–largest–networks––of–Advisers–throughout–New–Zealand.

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What sort of investment is this?

If you’re saving for something specific, it could be a holiday, a renovation or a special occasion, a PUT investment may be right for you. It doesn’t matter what stage of life you’re at, whether you’re a first-time or more experienced investor, if your savings goals are for the short term, long term or both, PUT is designed to help you reach your financial goals.

This section contains useful information about PUT. You’ll learn how it can work for you and all the investment fund options available to help you reach your financial goals.

So, what exactly is PUT? 5

Who can invest? 6

How does PUT work? 6

Who manages my investment? 7

What are my fund options? 7

Managing your cash 16

So, what exactly is PUT? PUT is a unit trust and has been in operation since August 2004.

PUT is an easy, flexible way to help you save for any or all of your financial goals. It’s open to anyone who wants to invest, whether it’s one person, two people wanting to invest together, a trust, company or partnership. And because it’s a unit trust, meaning your money is pooled with other people’s money, you have access to investments that may not otherwise be available to you as an individual.

Whatever–your–savings–goals,–short–or–long–term,–PUT–allows–you–to–tailor–your–investment–strategy–to–suit–your–needs.–Perhaps–you're–saving–for–your–next–holiday–or–a–home–renovation–or–putting–money–aside–for–your–children's–future–education–costs.

No–matter–what–you’re–saving–for,–PUT–can–help–you–get–there.

PUT is flexibleThis–is–investing–at–its–most–flexible.–How–you–invest–in–PUT–and–when–you–withdraw–is–totally–up–to–you.–You’re–in–control.–You–can–request–changes–to–your–investment–at–any–time–and–you–can–even–change–your–choice–of–funds.

PUT can be tailored to suit you You–may–have–different–financial–goals–that–need–a–different–investment–strategy.–For–example,–you–may–have–short–term–goals–you–wish–to–reach,–and–one–or–two–longer–term–goals–in–mind.–With–PUT–you–can–set–up–separate–investment–accounts–for–each–goal,–so–you–can–tailor–all–your–investments–to–suit–you.–

PUT gives you a wide choice of funds PUT–offers–a–range–of–funds–for–you–to–choose–from.–Your–money–is–pooled–with–other–people’s–money.–This–gives–you–greater–access–to–investments–you–may–otherwise–not–be–able–to–access–as–an–individual.–You–buy–‘units’–which–represent–your–share–in–the–relevant–fund,–and–the–value–of–your–units–is–generally–calculated–on–each–business–day.–As–the–market–value–of–the–assets–in–the–fund–rises–and–falls,–the–value–of–your–units–will–also–change.–

Each–fund–has–a–specific–investment–objective–and–invests–in–different–types–of–assets,–such–as–cash,–fixed–interest,–property–and–shares.–

PUT funds investing in a blend of assets

To–avoid–putting–all–your–eggs–in–one–basket,–some–funds–in–the–PUT–range–invest–in–a–blend–of–assets.–These–are–called–‘diversified–funds’–and–can–include–cash,–fixed–interest–or–shares.––A–diversified–mix–of–investments–such–as–this–has–the–potential–to–deliver–more–stable–returns.

PUT funds investing in a single type of asset

Some–funds–in–the–PUT–range–only–include–one–type–of–asset,–such–as–shares.–These–are–called–‘single-sector–funds’–and–allow–you–to–create–your–own–diversified–portfolio–of–investments–by–choosing–different–single–sector–funds.–PUT–also–offers–single–sector–funds–from–a–range–of–fund–managers,–so–you–can–diversify–across–fund–managers–as–well–as–assets.

Stay invested for as long, or short a time as you like.

Access a wide range of investments.

All the investments are managed by experienced professionals from fund managers around the world.


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Who can invest?Individuals, trusts, companies and partnerships can all invest in PUT. You can also hold a joint account with another individual.

Do I have to invest a certain amount?You–can–invest–as–much–or–as–little–as–you–like,–as–long–as–you–always–have–the–current–minimum–of–$1,000–in–each–of–your–chosen–funds.

PUT helps you save for different goalsThroughout–your–life,–there’ll–be–many–different–things–you–want–to–save–for.–It–might–be–a–new––car–or–a–home–renovation.–Perhaps–you–want–to–put–money–aside–for–your–children’s–education–or–a–home–deposit.–PUT–makes–it–easy–to–set–up–different–investment–accounts,–individually–tailored–for–each–of–your–goals.–

In–fact,–you–can–have–up–to–20–investment–accounts–if–you–wish,–and–call–them–each–a–different–name–for–easy–reference.–

Lisa––Lisa–has–decided–she–wants–to–put–aside–$1,500–every–month–to–meet–her–three–different–financial–goals.––She–has–set–up–three–different–investment–accounts–and–told–us–that–she’d–like–to–invest–$800–in–one–for–a–home–deposit,–$200–in–another–for–a–holiday–and–$500–in–another–for–a–new–car.–

She–also–told–us–which–funds–she’d–like–each–account–to–invest–in.–Lisa–has–now–created–what–is–called–her–‘investment–profile’.

*You–won’t–have–a–CMA–balance–if–you–invest–only–in–the–Select–and–Dynamic–Markets–fund–ranges.

Payments out Payments in

Investment account––-–e.g.–Children’s–

inheritance

Investment account -–e.g.–Kitchen–renovation

Investment account–-–e.g.–Children’s–

university–education

Fund

What happens if I go below the $1,000 minimum?

If–your–fund–balance–goes–below–the–$1,000–current–minimum,–we–may–contact–you–to–see–if–you–would–like–to–make–a–top-up–payment–or–a–full–withdrawal–from–that–fund.–If–we–can’t–reach–you–we–may–sell–your–units–in–that–fund–and–pay–the–proceeds–to–your–nominated–bank–account.

How does PUT work?

Your–nominated–bank–account

Fund

Fund

Fund Fund

Fund Fund

Cash–Management–Account–(CMA*)

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You can change your investment profile anytime you wish.

Who manages my investment?When you invest your hard-earned money, we understand you want it to work as hard as you do. We, AMP, are responsible for managing your investment in PUT. We also use experienced investment professionals (called fund managers) to manage your money and help maximise your savings.

We subject all of our fund managers to independent scrutinyThe–performance–of–your–investments–is–of–absolute–importance–to–us,–and–we–believe–this–is–greatly–enhanced–through–the–independent–scrutiny–of–our–fund–managers.–That’s–why–we–utilise–internal–and–external–research–providers–such–as–Mercer–(N.Z.)–Limited,–to–help–identify–and–monitor–the–most–suitable–fund–managers–and–funds–for–PUT.

To–see–which–fund–managers–are–available–in–PUT,–go–to–the–fund–snapshots–on–pages–8–to–15.

What are my fund options?PUT has a range of funds you can choose from. Your choice of funds will determine the level of risk you take on and the returns you receive.

To–help–you–determine–the–level–of–risk–you–want–to–take–on,–use–the–risk–profile–tool–at––amp.co.nz/calculators.–This–will–help–you–choose–which–PUT–fund–or–funds–are–most–suitable–for–each–of–your–goals.–When–choosing–your–funds,–it’s–also–a–good–idea–to–get–professional–advice.–You–can–do–this–through–your–own–Adviser–or,–if–you–don’t–have–one,–go–to–amp.co.nz–to–find–an–Adviser–near–you.

On–the–following–pages,–the–fund–snapshots–give–you–key–information–about–the–PUT–range–of––funds–available.

We suggest you read the fund snapshots in conjunction with the ‘What are my risks?’ section, where you’ll find a more general description of risks applying to PUT as a whole.

Brent Brent is married with two young preschool children. He has two very different financial goals in mind. He and his wife would like a new kitchen and have given themselves three years to save enough for the renovation. He’d also like to put enough money aside for his children to attend university in 16-20 years. As one goal is short term and other long term, Brent knows he needs to choose different funds for each one, but doesn’t know where to start. He finds an Adviser who creates a personalised investment plan that suits both of Brent’s goals and attitude to risk.


Did you know?There–are–three–top–reasons–why–your–PUT–fund–holdings–may–move–away–from–your–original–investment–allocation–over–time:

1.– Each–of–your–chosen–funds–has–different–returns,–resulting–in–them–growing–(or–shrinking)–at–different–rates.

2.– You–make–a–lump-sum–investment–or–withdrawal.

3.– We–sell–units–in–the–fund(s)–to–top–up–your–Cash–Management–Account–facility–(CMA)–––this–happens–if–you’ve–gone–below–a–quarter–of–the–minimum–balance–explained–on–page–16.

If–you’re–not–sure–what–some–of–the–terms–mean,–read–the–glossary–of–terms–on–page–48.

Setting your investment profileFirstly–you–need–to–decide–what–your–financial–goals–are.–From–there,–you–can–set–up–an–investment–account–for–each–goal.–Let’s–say–you–have–three–goals.–All–you–need–to–do–is–tell–us–how–much–of–your–initial–investment–and–regular–payments–you’d–like–to–invest–into–each–of–the–three–investment–accounts.–Then–tell–us–which–funds–from–the–PUT–range–you’d–like–each–investment–account–to–invest–in.–

Once–you’ve–decided–this,–you–have–what–is–called–your–‘investment–profile’.

Maintaining your allocations in each fundOver–time,–your–PUT–holdings–(within–each–investment–account)–are–likely–to–move–away–from–your–original–allocations.–To–manage–this,–you–can–choose–to–use–our–rebalancing–facility.–This–enables–us–to–buy–and–sell–units–to–realign–your–holdings–in–your–chosen–funds–if–they–go–outside–certain–ranges.–You–can–choose–to–have–this–done–monthly,–quarterly,–6-monthly–or–yearly.

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Diversified fundsThese fund snapshots give you key information about the PUT diversified range of funds available.

Risk profile

Conservative

You’re–a–conservative–investor.–Risk–must–be–very–low–and–you’re–prepared–to–accept–lower–returns–to–protect–capital.–The–negative–effects–of–inflation–will–not–concern–you,–provided–your–initial–investment–is–protected.

Investment objective and policy

To–primarily–preserve–the–value–of–your–investment–by–investing–in–fixed–interest–and–cash–assets.

Suggested investment timeframe

Income / Growth target

Income–assets–100%–/–Growth–assets–0%

Key investment risks Interest–rate–risk;–market–risk

Currency hedging policy

To–fully–hedge–foreign–currency–exposure–back–to–New–Zealand–dollars.

FeesAnnual–Management–Fee:–1.20%–Administration–fee:–included–in–Annual–Management–Fee

Fund managerAMP–Capital–Investors–(New–Zealand)–Limited;–ANZ–New–Zealand–Investments–Limited

Select Income

Risk profile

Moderately–Conservative

You’re–a–moderately–conservative–investor–seeking–better–than–basic–returns,–but–risk–must–be–low.

Typically–an–investor–seeking–to–protect–the–wealth–that–you–have–accumulated,–you–may–be–prepared–to–consider–less–aggressive–growth–investments.


To–achieve–modest-to-medium–returns–-–in–exchange–there–may–be–small–movements–up–and–down–in–the–value–of–your–investments.

To–provide–a–well-diversified–portfolio–that–has–a–conservative–allocation–to–growth–assets–but–is–primarily–invested–in–lower–risk–income–assets.


Income / Growth target (and range)

Income–assets–75%–(55-95%)–/–Growth–assets–25%–(5-45%)–

Benchmark asset allocations

Income Assests Cash–25%–NZ–fixed–interest–25%–International–fixed–interest–25%

Growth Assets Property–4.5%–Australasian–shares–5%–International–shares–9.5%–Commodities–2%–Global–infrastructure–2.5%–Emerging–markets–1.5%


To–fully–hedge–foreign–currency–exposure–for–all–asset–classes,–with–the–exception–of–emerging–markets,–where–currency–exposure–is–unhedged,–and–Australasian–and–International–shares–where–currency–exposure–is–actively–managed.–

Key investment risks Investment–sector–risk–(fixed–interest);–market–risk–


Fund manager AMP–Capital–Investors–(New–Zealand)–Limited

Select Conservative

Short LongMedium

Short LongMedium

8


Risk profile

Moderately–Conservative

You’re–a–moderately–conservative–investor–seeking–better–than–basic–returns,–but–risk–must–be–low.

Typically–an–investor–seeking–to–protect–the–wealth–that–you–have–accumulated,–you–may–be–prepared–to–consider–less–aggressive–growth–investments.


To–achieve–modest-to-medium–returns–-–in–exchange–there–may–be–small–movements–up–and–down–in–the–value–of–your–investments.

To–provide–a–well-diversified–portfolio–that–has–a–conservative–allocation–to–growth–assets–but–is–primarily–invested–in–lower–risk–income–assets.



Income–assets–75%–(55-95%)–/–Growth–assets–25%–(5-45%)


Income Assests–Cash–25%–NZ–fixed–interest–25%–International–fixed–interest–25%

Growth Assets–Property–4.5%–Australasian–shares–5%–International–shares–9.5%–Commodities–2%–Global–infrastructure–2.5%–Emerging–markets–1.5%



Key investment risks Investment–sector–risk–(fixed–interest);–market–risk



Dynamic Markets Conservative

Risk profile

Balanced

You’re–a–balanced–investor–who–wants–a–diversified–portfolio–to–work–towards–medium–to–long-term–financial–goals.–You–require–an–investment–strategy–that–will–cope–with–the–effects–of–inflation.–Calculated–risks–will–be–acceptable–to–you–to–achieve–good–returns.


To–achieve–medium–returns–-–in–exchange–there–will–be–some–movements–up–and–down–in–the–value–of–your–investments.

To–provide–a–well-diversified–portfolio–that–has–a–balance–of–risk–through–holding–growth–assets–and–an–allocation–to–lower–risk–income–assets.



Income–assets–40%–(20-60%)–/–Growth–assets–60%–(40-80%)––



Growth Assests–Property–7%–Australasian–shares–15%–International–shares–26.5%–Commodities–3%–Global–infrastructure–4%–Emerging–markets–4.5%



Key investment risks Investment–sector–risk–(shares,–fixed–interest);–market–risk



Select Balanced

Short LongMedium

Short LongMedium

9

Risk profile

Balanced

You’re–a–balanced–investor–who–wants–a–diversified–portfolio–to–work–towards–medium–to–long-term–financial–goals.–You–require–an–investment–strategy–that–will–cope–with–the–effects–of–inflation.–Calculated–risks–will–be–acceptable–to–you–to–achieve–good–returns.


To–achieve–medium–returns–-–in–exchange–there–will–be–some–movements–up–and–down–in–the–value–of–your–investments.

To–provide–a–well-diversified–portfolio–that–has–a–balance–of–risk–through–holding–growth–assets–and–an–allocation–to–lower–risk–income–assets.



Income–assets–40%–(20-60%)–/–Growth–assets–60%–(40-80%)



Growth Assests–Property–7%–Australasian–shares–15%–International–shares–26.5%–Commodities–3%–Global–infrastructure–4%–Emerging–markets–4.5%



Key investment risks Investment–sector–risk–(shares,–fixed–interest);–market–risk



Dynamic Markets Balanced

Short LongMedium

Risk profile

Aggressive

You’re–an–aggressive–investor–prepared–to–compromise–portfolio–balance–to–pursue–potentially–greater–long-term–returns.–Your–investment–choices–are–diverse–but–carry–with–them–a–higher–level–of–risk.–Security–of–capital–is–secondary–to–the–potential–for–wealth–accumulation.


To–achieve–high–returns–-–in–exchange–there–will–be–larger–movements–up–and–down–in–the–value–of–your–investments.

To–provide–a–well-diversified–portfolio–that–aims–to–provide–growth,–primarily–through–holding–growth–assets.–The–fund–has–a–low–allocation–to–income–assets.





Income Assests–Cash–5%–NZ–fixed–interest–2.5%–International–fixed–interest–2.5%

Growth Assests–Property–9.5%–Australasian–shares–22.5%–International–shares–41%–Commodities–4%–Global–infrastructure–5.5%–Emerging–markets–7.5%



Key investment risks Investment–sector–risk–(shares);–market–risk



Select Growth

Short LongMedium

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Risk profile

Aggressive

You’re–an–aggressive–investor–prepared–to–compromise–portfolio–balance–to–pursue–potentially–greater–long-term–returns.–Your–investment–choices–are–diverse,–but–carry–with–them–a–higher–level–of–risk.–Security–of–capital–is–secondary–to–the–potential–for–wealth–accumulation.


To–achieve–high–returns–-–in–exchange–there–will–be–larger–movements–up–and–down–in–the–value–of–your–investments.

To–provide–a–well-diversified–portfolio–that–aims–to–provide–growth,–primarily–through–holding–growth–assets.–The–fund–has–a–low–allocation–to–income–assets.





Income Assests–Cash–5%–NZ–fixed–interest–2.5%–International–fixed–interest–2.5%

Growth Assests–Property–9.5%–Australasian–shares–22.5%–International–shares–41%–Commodities–4%–Global–infrastructure–5.5%–Emerging–markets–7.5%






Dynamic Markets Growth

Short LongMedium

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Single sector fundsThese fund snapshots give you key information about the PUT single sector range of funds available.


To–achieve–modest,–stable–returns–with–a–very–low–level–of–investment–risk–-–in–exchange–there–will–be–no–significant–movements–up–and–down–in–the–value–of–your–investments.

To–primarily–invest–in–cash–and–short-term–deposits.–

Suggested investment timeframe Short LongMedium

Asset class Cash


No–currency–hedging.

Key investment risks Interest–rate–risk;–credit–risk

FeesAnnual–Management–Fee:–0.45%–Administration–fee:–0.20%

Fund manager ANZ–New–Zealand–Investments–Limited

OnePath NZ Cash


To–primarily–preserve–the–value–of–your–investment–with–some–capital–growth–by–investing–predominantly–in–New–Zealand–fixed–interest–assets.


Asset class NZ–fixed–interest






AMPCI NZ Fixed Interest


To–primarily–preserve–the–value–of–your–investment–with–some–capital–growth–by–investing–in–a–passively–managed–portfolio–of–predominantly–New–Zealand–fixed–interest–assets.








AMPCI NZ Fixed Interest Index


To–achieve–modest,–stable–returns–with–a–very–low–level–of–investment–risk–-–in–exchange–there–will–be–no–significant–movements–up–and–down–in–the–value–of–your–investments.

To–primarily–invest–in–cash–and–short-term–deposits.–


Asset class Cash



Key investment risks Interest–rate–risk;–credit–risk



Select Cash

12



To–primarily–preserve–the–value–of–your–investment–with–some–capital–growth–by–investing–in–a–portfolio–of–predominantly–New–Zealand–fixed–interest–assets.–








OnePath NZ Fixed Interest


To–primarily–preserve–the–value–of–your–investment–with–some–capital–growth–by–investing–in–a–passively–managed–portfolio–of–fixed–interest–assets–issued–in–bond–markets–around–the–world.


Asset class International–fixed–interest





Fund manager State–Street–Global–Advisors,–Australia,–Limited

State Street Global Fixed Interest Index(also known as the SSgA Global Fixed Interest Index)


To–primarily–preserve–the–value–of–your–investment–with–some–capital–growth–by–investing–in–fixed–interest–assets–issued–in–bond–markets–around–the–world.





Asset class International–fixed–interest


Fund manager PIMCO–accessed–through–Fisher–Funds–Management–Limited

PIMCO Global Fixed Interest


To–primarily–preserve–the–value–of–your–investment–with–some–capital–growth–by–investing–in–fixed–interest–assets–issued–in–bond–markets–around–the–world.





Asset class International–fixed–interest–


Fund manager BlackRock–Investment–Management–(Australia)–Limited

Blackrock Global Fixed Interest


To–achieve–long–term–capital–growth–primarily–through–exposure–to–a–passively–managed–portfolio–of–shares–of–companies–listed–on–the–New–Zealand–stock–exchange.


Currency–exposure–may–be–hedged–back–to–New–Zealand–dollars.



Asset class Australasian–shares–



AMPCI NZ Shares Index

13


To–achieve–long–term–capital–growth–through–exposure–to–a–portfolio–of–predominantly–New–Zealand–shares.


Any–currency–exposure–may–be–hedged–back–to–New–Zealand–dollars.






OnePath NZ Shares


To–achieve–long–term–capital–growth–primarily–through–exposure–to–a–passively–managed–portfolio–of–shares–of–companies–listed–on–stock–exchanges–around–the–world–excluding–Australia.


Foreign–currency–exposure–will–be–unhedged



Asset class International–shares–



State Street Global Shares Index (also known as the SSgA Global Shares Index)


To–achieve–long–term–capital–growth–primarily–through–exposure–to–a–passively–managed–portfolio–of–shares–of–companies–listed–on–stock–exchanges–around–the–world–excluding–Australia.





Asset class International–shares–



State Street Global Shares Index Hedged (also known as the SSgA Global Shares Index Hedged)


To–achieve–long–term–capital–growth–through–exposure–to–a–portfolio–of–predominantly–New–Zealand–shares.


Currency–exposure–may–be–hedged–back–to–New–Zealand–dollars.





Fund manager Salt–Funds–Management–Limited

AMPCI NZ Shares

14



To–achieve–long–term–capital–growth–through–exposure–to–shares–of–companies–around–the–world.





Asset class International–shares


Fund managerFidelity–Investment–Management–(Australia)–Limited–accessed–through–AMP–Capital–Funds–Management–Limited,–a–company–registered–in–Australia.

FD International Share Fund 3 - Growth

The–suggested–investment–timeframe–periods–shown–in–pages–8–-–15–are:–short–term–-–1–to–3–years;–medium–term–-–4–to–7–years;–long–term–-–more–than–7–years.

More–information–can–be–found–in–the–prospectus–on–the–asset–allocation–benchmarks,–investment–objectives,–fund–managers,–currency–hedging–policy–and–key–risks–for–each–of–the–funds–detailed–on–pages–8–to–15,–as–well–as–the–funds–available,–which–are–current–and–may–change–from–time–to–time–without–notice.

Actual–asset–allocations–for–the–diversified–funds–will–vary–from–benchmarks.–For–up–to–date–information–on–the–funds–including–benchmarks,–please–contact–us–on–0800 267 111

We–are–currently–reviewing–the–PUT–range–of–funds–with–the–intention–of–streamlining–the–options.–As–part–of–this–review,–we–are–considering–winding–up–and–merging–some–funds,–and–changing–the–investment–objective–and–policy–of–some–funds.–If–you're–affected–by–any–material–change,–we–will–let––you–know.


To–achieve–long–term–capital–growth–primarily–through–exposure–to–shares–of–companies–around–the–world–excluding–Australia.





Asset class International–shares


Fund managerSchroder–Investment–Management–Australia–Limited–accessed–through–AMP–Capital–Funds–Management–Limited,–a–company–registered–in–Australia.

FD International Share Fund 1 - Value

15

Managing your cashWhen you invest in PUT, we’ll open a Cash Management Account facility (CMA) for you. As the name suggests, the CMA is a way of managing your cash so that you can easily invest and withdraw. The money in your CMA is held in a bank account with a registered bank.

How your CMA worksThe–CMA–is–where–all–the–money–involved–in–your–investments–flows–in–and–out.–Anytime–you–invest,–withdraw–or–make–any–transaction–involving–your–funds,–it–will–appear–in–your–CMA.–Some–fees–are–also–paid–out–of–your–CMA–(see–section–‘What–are–the–charges?’).

If–you’re–invested–only–in–the–Select–and–Dynamic–Markets–funds,–you–won’t–see–your–CMA–as–your–money–flows–automatically–in–and–out–of–it.–This–means–you’ll–always–have–a–zero–CMA–balance,––so–none–of–the–rest–of–the–information–below–about–the–CMA–is–relevant–to–you.

Your CMA balance earns interestYour–balance–in–the–CMA–currently–earns–interest–at–the–Official–Cash–Rate–less–0.30%–(this–may–change–without–notice).–The–bank–account–where–CMA–monies–are–invested–earns–interest–at–the–Official–Cash–Rate–plus–0.50%.–We–retain–the–difference–between–the–interest–earned–on–the–bank–account–and–the–interest–paid–on–CMA–balances,–which–may–equate–to–more–or–less–than–0.80%–depending–on–timing–differences,–bank–fees–and–costs.

Your CMA has a minimum balanceBecause–your–CMA–is–used–to–meet–fees–and–withdrawals,–it’s–important–that–you–maintain–a–minimum–balance–of–four–months'–worth–of–portfolio–servicing–fees,–administration–fees–and–any–regular–withdrawals–you–have–set–up.

You–can–also–tell–us–if–you’d–like–to–maintain–a–balance–over–and–above–our–required–minimum.–We–may–change–the–minimum–balance–from–time–to–time,–and–if–we–do,–we'll–give–you–a–month's–notice.

What happens if you fall below the minimum CMA balance?If–the–balance–of–your–CMA–falls–below–a–quarter–of–the–minimum–balance,–we’ll–automatically–sell–some–units–in–your–PUT–funds.–We’ll–sell–enough–units–to–bring–your–balance–back–up–to–four–months'–worth–of–portfolio–servicing–fees,–administration–fees–and–any–regular–withdrawals–you–have–set–up.–You–can–tell–us–in–your–application–form–which–investment–accounts–we–should–use–first–if–this–needs–to–be–done.–Within–those–investment–accounts,–we’ll–sell–funds–down–in–an–order–specified–by–us.–You–can–see–this–order–in–the–investment–profile–table–in–the–application–form.

How to ensure your money is always working hard for youWe–want–your–money–to–work–as–hard–as–it–can–for–you.–You–can–ask–us–to–invest–any–surplus–cash–in–your–CMA–above–the–required–minimum–balance,–in–PUT–funds–according–to–your–investment–profile.–Alternatively,–you–can–choose–to–build–more–cash–up–in–your–CMA–and–then–choose–when–and–how–to–invest–or–withdraw–it.

How your CMA is taxedWe’ll–deduct–resident–withholding–tax–(RWT)–from–the–interest–earned–on–your–CMA–and–pay–it–to–Inland–Revenue.–You’ll–need–to–tell–us–your–RWT–rate–and–your–IRD–number–otherwise–we’ll–deduct–RWT–at–the–‘no-notification–rate’–of–33%.–For–current–RWT–rates,–or–for–more–information–about–RWT,–go–to–www.ird.govt.nz.

If–you’re–a–non-resident,–we’ll–deduct–non-resident–withholding–tax–(NRWT)–at–a–rate–of–up–to–15%.

You–can–see–the–withholding–tax–deducted–on–your–customer–statement.

Don’t pay more tax than you should.

Remember–to–review–your–RWT–rate–regularly–and–make–sure–you–tell–us–if–it–changes.

16

Who is involved in providing it for me?

When you invest, it’s important to know that your hard earned money is in good hands. In this section we introduce you to those who are responsible for the management and administration of PUT. We also explain who monitors the operation of PUT so you can be assured the management of PUT meets industry best practice.

PUT is brought to you by AMPAs one of New Zealand’s longest-standing insurance and investment businesses, the AMP group of companies has been helping Kiwis build a brighter tomorrow since 1854.

AMP–Personal–Unit–Trust–(PUT)–is–a–unit–trust–under–the–Unit–Trusts–Act–1960–and–has–been–in–operation–since–August–2004.

Manager

The–manager–of–PUT–is–AMP–Wealth–Management–New–Zealand–Limited–('AMP').

Our–address–is:

Level–21,–AMP–Centre–29–Customs–Street–West–PO–Box–55–Auckland–1140

Currently,–our–directors–are–Anthony–George–Regan,–Therese–Mary–Singleton,–Simon–John–Hoole–and–Elaine–Jennifer–Campbell.–You–can–contact–the–directors–by–writing–to–the–address–above.

For–the–Select–and–the–Dynamic–Markets–fund–ranges–(except–the–Select–Income–and–Select–Cash–funds),–we–seek–advice–and–recommendations–from–AMP–Capital–Investors–(New–Zealand)–Limited–about–matters–concerning–the–management–of–the–underlying–funds–into–which–these–funds–invest,–including–whether–or–not–to–add–or–remove–a–fund–manager–and–asset–allocation–decisions.

Administration manager and promoters

We–have–delegated–the–administration–functions–of–PUT–to–AMP–Services–(NZ)–Limited–(`AMP–Services')–as–an–administration–manager–for–PUT.–AMP–Services–is–a–related–company–of–ours.

AMP–Services–is–a–promoter–of–PUT.–We–currently–have–the–same–directors–as–AMP–Services.–However,–in–the–future–any–directors–of–AMP–Services–who–are–not–also–our–directors–will–become–promoters–of–PUT.–The–directors–of–either–company–may–change–from–time–to–time–without–notice.–

The–address–of–AMP–Services–is:–

Level–21,–AMP–Centre–29–Customs–Street–West–PO–Box–55,–Shortland–Street–Auckland–1140.

Trustee

The–trustee–of–PUT–is–The–New–Zealand–Guardian–Trust–Company–Limited–(the–‘Trustee’).––The–Trustee–is–licensed–by–the–Financial–Markets–Authority–and–is–independent–of–AMP.

The–Trustee’s–address–is:

Level–2–99-105–Customhouse–Quay–PO–Box–3845–Wellington–6140

Change in details

The–directors–and–addresses–above–may–change–without–notice.–You–can–get–the–most–up–to–date–addresses–and–names–of–directors–by–calling–us–on–0800 267 111–or–from–the–Companies–Office–website–www.business.govt.nz/companies.

What does the Manager do?

We–are–responsible–for–managing–and–administering–PUT.––Amongst–other–things,––we–offer–investments–in––PUT,–manage–the–assets,––and–keep–you–informed–about–your–investments.

What does the Trustee do?

The–Trustee–is–an–independent–and–licenced–entity–who–is–responsible–for–monitoring–the–performance–of–our–management–of–PUT.–All–the–assets–of–PUT–are–held–on–trust–by–the–Trustee.–

18

How much do I pay?

Your PUT investment accounts are designed to be easy and flexible for you to manage.

You can choose between saving regularly or making one-off payments whenever it suits you. Whatever works best for your financial goals, it’s entirely up to you.

If you do choose to make regular payments, we can help out by ensuring your payments increase by a certain amount each year, so that you keep up with inflation or other factors in your life.

All your payment options and any rules and restrictions, such as minimum payment amounts, are explained over the page.

How do I pay into my investment accounts? 20

Can I transfer from other AMP products? 20

How do I pay into my investment accounts?After your initial investment of at least $1,000 for each of your chosen funds, you can choose to make regular payments or save by investing lump sums from time to time. All payments will be received by us as manager of PUT.

Remember that you need to keep a current minimum balance of $1,000 per fund.

So–you’ll–need–to–consider–that–when–making–any–initial–payments.–See–page–6–for–more–information.

Sarah Sarah is in her late 20’s and is really keen to save for a deposit on her first home. Between her job and social life, Sarah doesn’t have time to constantly check on her investment savings, but she does want to ensure they keep up with inflation. As Sarah also knows her income will rise over time, she has chosen to use the Yearly Increase Facility which will increase her regular payments by 5% each year.

How–to–make–payments

Regular payments

How to set up a direct debit

It’s–easy–to–make–regular–payments–by–direct–debit.–To–set–up–a–direct–debit,–complete–the–Direct–Debit–Authority–included–at–the–back–of–this–Investment–Statement.–You–can–also–get–extra–Direct–Debit–Authority–forms–at–amp.co.nz.–When–you–set–up–a–direct–debit,–you’ll–need–to–tell–us–how–you–want–it–invested–(in–other–words,–you’ll–need–to–tell–us–your–investment–profile).–You–can–do–this–by–attaching–either––the–application–form–or–the–Additional–contribution–form–to–your–Direct–Debit–Authority.

Frequency

Choose–between–weekly,–fortnightly,–four-weekly–or–monthly.

Minimum amount

Each–payment–must–be–at–least–$50.

Yearly increase facility

You–can–choose–to–use–our–yearly–increase–facility–where–your–direct–debit–amount–increases–each–year–by–either:

-– A–percentage–specified–by–you–(minimum–5%),–or

-– The–annual–inflation–rate–(official–Consumer–Price–Index–calculated–by–Statistics–New–Zealand)

We’ll–increase–your–payments–on–the–anniversary–of–your–initial–investment–in–PUT–being–established.–We’ll–give–you–five–weeks’–notice–of–the–increase–and–you’ll–be–given–the–option–to–decline–it.

Lump-sum payments

How to make a lump-sum payment

You–can–make–lump-sum–payments–by–cheque,–payable–to–AMP–Investments–Subscription–Account.–You–need–to–attach–your–cheque–to–the–Additional–contribution–form–and–send–it–to–us.

Frequency

You–can–make–lump-sum–payments–as–often–as–you–like.

Minimum amount

Each–lump-sum–payment–must–be–a–minimum–of–$250.

Can I transfer from other AMP products?Yes–you–can–transfer–from–other–AMP–products.–To–transfer–your–savings–from–another–AMP–product–to–PUT,–simply–fill–out–the–application–form–at–the–back–of–this–Investment–Statement,–as–well–as–our–Product–Transfer–Form–available–from–your–Adviser.–The–form–tells–you–which–AMP–products–you–can–transfer–from.

20

What are the charges?

Certain costs are involved if you want to enjoy the benefits of investing in PUT. We charge fees and recover expenses to cover the administration of your investment accounts, the administration of PUT itself, and the costs associated with the professional management of your investments. These fees and any other expenses that may be payable are detailed in the section over the page.

What are the key fees and expenses? 22

Are there any other fees and expenses? 24

What fees are not currently charged? 24

What are the key fees and expenses?The key fees for PUT are summarised below. Other fees and expenses are explained on the next page.

Fund Annual–management–fee–(AMF) Administration–fee

Used–to–pay–for–managing–the–funds,–including–paying–for–the–investment–management–services–of–the–fund–managers–and–the–Trustee’s–fee.–This–fee–is–a–percentage–of–the–value–of–the–fund,–calculated–each–business–day.–As–these–fees–are–deducted–from–each–fund–and–reflected–in–the–value–of–your–units,–this–fee–won’t–appear–on–your–customer–statement.

Used–to–contirbute–to–the–cost–of–the–general–administration–of–your–investment.–This–per–annum–fee–is–a–percentage–of–the–value–of–your–investment–in–each–fund.–It–is–calculated–each–business–day–and–(if–not–included–in–the–AMF)–deducted–from–your–CMA–every–month.–If–deducted–this–fee–will–appear–on–your–customer–statement.

Diversified funds

Select–Income 1.20%– Included–in–AMF

Select–Conservative 1.55%– Included–in–AMF

Dynamic–Markets–Conservative– 1.55%– Included–in–AMF

Select–Balanced 1.60%– Included–in–AMF

Dynamic–Markets–Balanced 1.60%– Included–in–AMF

Select–Growth 1.65%– Included–in–AMF

Dynamic–Markets–Growth 1.65%– Included–in–AMF

Single sector funds

Select–Cash 0.65%– Included–in–AMF

OnePath–NZ–Cash 0.45% 0.20%

AMPCI–NZ–Fixed–Interest– 0.60% 0.20%

AMPCI–NZ–Fixed–Interest–Index 0.55% 0.20%

OnePath–NZ–Fixed–Interest– 0.85% 0.20%

State–Street–Global–Fixed–Interest–Index 0.50% 0.20%

PIMCO–Global–Fixed–Interest– 0.95% 0.20%

BlackRock–Global–Fixed–Interest– 1.00% 0.20%

AMPCI–NZ–Shares–Index 0.55% 0.40%

AMPCI–NZ–Shares– 0.85% 0.40%

OnePath–NZ–Shares– 1.05% 0.40%

State–Street–Global–Shares–Index 0.50% 0.40%

State–Street–Global–Shares–Index–Hedged 0.50% 0.40%

FD–International–Share–Fund–1–––Value 0.90% 0.40%

FD–International–Share–Fund–3–––Growth– 0.90% 0.40%

22

What do these fees and expenses pay for?

These–fees–and–expenses–cover:

–– the–general–administration–and–management–of–your–PUT–investment–and–PUT–itself.

–– the–costs–associated–with–having–experienced–investment–professionals–manage–your–savings.

––––the–fees–for–the–Select–or–Dynamic–Markets–funds–includes–a–portfolio–servicing–fee–paid–to–your–Adviser.

All–fees–and–expenses–(except–any–transaction–costs)–outlined–in–this–section–are–payable–to–AMP.

We–may–change–these–fees–(and–those–fees–on–the–next–page)–from–time–to–time.–If–we–increase–fees–we–will–give–you–at–least–one–month’s–notice.

There–are–maximum–fee–levels–that–apply–as–follows–(these–maximums–can–be–altered–by–amending–the–trust–deed):

-– The–total–of–AMF–and–administration–fee–that–we–can–charge–cannot–be–greater–than––5%–(plus–GST,–if–any)–per–annum–of–the–value–of–your–investment–in–a–fund–(after–the–deduction–of–tax,–if–any).

-– The–Trustee–fee–is–currently–up–to–0.1%–(plus–GST,–if–any)–per–annum–of–the–value–of–your–investment–in–a–fund–and–it–cannot–be–more–than–0.5%–(plus–GST,–if–any)–per–annum.–The–Trustee–fee–is–currently–met–by–AMP,–but–may–be–charged–separately–in–the–future.

Transaction costsTransaction–costs–(the–actual–costs–of–buying–and/or–selling–units–in–the–relevant–underlying–funds)–may–affect–your–returns.–These–costs–may,–at–our–discretion,–be–applied–when–an–investor–buys–or–sells–units–in–a–fund–by–including–a–notional–amount–in–respect–of–transaction–costs–associated–with–buying–and–selling–underlying–assets–(as–determined–by–us)–when–calculating–the–unit–price–of–the–fund.–These–are–known–as–`buy–margins'–and–`sell–margins'.–Following–a–review–by–the–manager–of–PUT,–the–buy–and–sell–margins–for–all–the–funds–have–been–reduced–to–zero.–Instead–transaction–costs–(if–any)–will–be–applied–when–they–actually–occur–and–therefore–will–be–deducted–from–the–fund's–assets–which–may–affect–your–returns.–This–could–change–in–the–future–without–notice.–

How does tax affect these fees?GST–will–be–added–to–fees–and–may–be–included–in–some–expenses–where–applicable.–Currently,–we–charge–GST–at–the–standard–rate–on–Trustee–fees,–and–charge–GST–at–the–standard–rate–on–10%–of–the–AMF–charged.–The–Inland–Revenue–is–reviewing–the–GST–treatment–of–unit–trust–management–fees–and–the–portion–of–the–AMF–subject–to–GST–may–change–in–future–without–notice.

All–fees–are–disclosed–on–a–before–tax–basis.–Generally,–where–fees–and–expenses–charged–to–a–fund–are–tax–deductible,–they–will–be–included–in–your–PIE–tax–calculation–when–determining–your–PIE–tax–liability.–A–deduction–will–also–be–taken–for–the–administration–fee–where–it–is–charged–directly–to–you.

What are the charges?

23

Are there any other fees and expenses?

PUT costs and expensesWe–and–the–Trustee–may–from–time–to–time–charge–other–costs–and–expenses–to–the–funds–or–your–investment–accounts.–These–could–include–fees–charged–to–us–by–third–parties–including,–amongst–other–things,–certain–costs–of–running–PUT,–such–as–registry–costs,–accounting–and–audit–requirements–and–regulatory–compliance–costs,–and–the–payment–of–custodian–fees–and–expenses.–

These–costs–and–expenses–will–include–costs–charged–by–AMP–Services–(as–administration–manager)–to–us–that–relate–to–functions–that–are–not–covered–by–our–fees.–We–and–AMP–Services–may–agree–to–change–the–charges–payable–for–its–services–in–the–future.–

There–is–no–limit–upon–the–amount–of–these–costs–and–expenses.–Any–costs–and–expenses–charged–to–the–funds–will–be–reflected–in–the–unit–price–of–the–fund–concerned–and–therefore–will–affect–your–return.–These–costs–and–expenses–are–reported–in–PUT’s–audited–financial–statements–that–are–available–on–amp.co.nz.

Underlying fund feesThe–underlying–funds–into–which–the–PUT–funds–invest–also–have–other–fees–and–expenses,–including–performance–fees–and–transaction–costs,–charged–by–their–managers–and–trustees.––These–will–be–reflected–in–the–underlying–funds'–unit–price–and–therefore–may–affect–your–returns.

Related party chargesSome–of–the–underlying–funds–into–which–the–PUT–funds–invest–are–managed–by–AMP–Capital–Investors–(New–Zealand)–Limited–(AMP–Capital).–AMP–Capital–is–a–related–party–of–ours.

These–underlying–funds–may–themselves–invest–into–other–funds–managed–by–AMP–Capital–or–a–related–party–and–may–charge–fees–and–expenses–that–are–reflected–in–that–fund’s–unit–price.

AMP–Services,–as–administration–manager,–also–charges–us–for–providing–administration–services–for–PUT.–AMP–Services–is–also–a–related–party–of–ours.

Adviser feesYour–Adviser–may–charge–you–fees–to–cover–the–cost–of–establishing–or–reviewing–your–investment–plan–(advice–fee),–and–the–on-going–servicing–of–your–investment–(portfolio–servicing–fee).–You–agree–these–fees–with–your–Adviser–and–tell–us–on–the–application–form.–We–then–pay–your–Adviser–the–fees–for–you–from–your–CMA,–or–for–the–Select–and–Dynamic–Markets–fund–ranges–the–portfolio–servicing–fee–is–paid–out–of–the–AMF.

If–you’ve–been–investing–in–PUT–since–before–1–July–2011,–you–may–be–paying–an–entry–fee–of–up–to–5%–of–your–payments–into–PUT,–and–this–will–continue–to–apply.–This–fee–is–paid–to–your–Adviser––-–you–would–have–set–up–this–entry–fee–in–agreement–with–your–Adviser.–If–you–signed–up–to–PUT–after–1–July–2011,–there–are–currently–no–entry–fees–payable–to–your–Adviser.

CMA marginThere–is–a–difference–between–the–amount–of–interest–earned–on–the–bank–account–in–which–the–balances–of–the–investor–CMAs–are–held–and–the–amount–of–interest–paid–on–the–investor–CMAs.––We–retain–this–difference,–which–may–vary–from–time–to–time–without–notice.–For–more–information–please–call–us.

What fees are not currently charged?

There are currently no additional charges payable to us for:–– switching–between–funds–or–accounts–– withdrawing–your–money–from–PUT–-–called–an–exit–fee.

However,–we–reserve–the–right–to–charge–such–fees–in–the–future.–We–will–give–you–one–month’s–notice–of–any–fee–increase.–If–we–introduce–an–entry–fee–or–an–exit–fee,–these–fees–would–not–be–more–than–5%–of–your–payment–or–withdrawal–amount.

Discuss Adviser fees with your AdviserTalk–to–your–Adviser–about–the–services–they–offer–and–the–Adviser–fees–you’re–comfortable–with–paying.

24

What returns will I get?

Your returns will be affected by your choice of funds, which in turn are determined by the level of risk you’re prepared to take. A conservative fund generally offers lower but more consistent short-term returns with lower risk. A fund that offers potentially higher returns in the long term generally has a higher level of risk and returns are likely to fluctuate. Please remember, your returns are dependent on market conditions so they aren’t guaranteed.

How does my investment make returns? 26

General information about returns 27

How does tax affect my returns? 28

How does my investment make returns?The value of your investment in PUT will change during the lifetime of your investment. This is based mainly on the amount you contribute and the investment returns of the funds. You will only realise those returns when you withdraw your money.

Generally,–the–difference–between–the–price–at–which–you–buy–units–in–a–fund–and–withdraw–them,–is–your–investment–return.

A–fund’s–unit–price–is–determined–by–the–value–of–its–assets,–less–fees,–and–expenses.–The–value–of–these–assets–will–increase–or–decrease–depending–on–market–conditions.–If–the–unit–price–has–fallen–you–may–not–get–back–all–of–the–money–you–have–invested.

The concept of risk versus returnDifferent–types–of–assets–have–different–rates–of–return–and–risk–levels.–Our–experience–shows–that–higher–risk–investments–are–more–likely–to–provide–fluctuating–yet–higher–returns–over–longer–periods.–Lower–risk–investments–are–likely–to–provide–more–consistent–yet–lower–returns–over–the–shorter–term.

The–graph–below–indicates–the–expected–relationship–between–risk–and–return–for–the–three–main–asset–classes.–Generally,–it–shows–that–a–fund–with–a–greater–allocation–to–growth–assets–(shares)–has–the–potential–for–higher–returns–over–the–long–term–than–a–fund–with–a–greater–allocation–to–income–assets–(cash–and–fixed–interest).

This–graph–is–for–illustration–purposes–only.–

Cash

Fixed interest

Retu

rn

Risk

Shares

Where can I access unit prices?

Unit–prices–are–available–on–our–website–amp.co.nz or–by–calling–us–on–0800 267 111.

26


General information about returns

We do not promise a particular amount or rate of returnThe–return–you–receive–is–based–on–(but–not–limited–to)–the–following–factors:

–– the–amount–contributed–to–your–PUT–funds;–– the–length–of–time–you–were–invested;–– the–performance–of–the–assets–in–the–funds–in–which–you–were–invested;–– the–level–of–fees,–expenses,–taxes–and–other–authorised–deductions––

(see–section–‘What–are–the–charges?’–on–page–21–for–more–information);–and–– your–personal–taxation–position–(see–section–‘How–does–tax–affect–my–returns?’–on–page–28––

for–more–information).

No–person–guarantees–the–performance–or–obligations–of–PUT.

Past performance is not indicative of future performanceAny–past–performance–of–the–PUT–funds–is–not–indicative–of–future–performance–and–future–performance–is–not–guaranteed–by–any–party.

Paying returnsThe–Trustee–is–legally–liable–to–pay–you–your–returns.

Distributing incomeNo–income–is–distributed–from–PUT.–This–means–any–money–paid–to–you–will–be–as–a–result–of–you–making–a–withdrawal.–How–much–or–how–often–you–make–a–withdrawal–is–up–to–you.–

Restrictions on withdrawals, transfers or switchesWe–may–at–any–time–defer–processing–withdrawal–or–switch–requests–if–we–think–it–would–be–impractical–or–if–it–would–adversely–affect–investors–to–process–them.–We–may–also–defer–registering–transfers–at–any–time.–This–may–be–because–of–any–circumstance–or–event–relating–specifically–to–PUT–or–generally.–Such–a–deferral–may–only–exceed–90–days–(or,–in–the–case–of–any–transfer–request–to–transfer–your–investment–to–someone–else,–30–business–days)–if–the–Trustee–agrees.–An–example–where–these–delays–might–occur–is–following–the–end–of–a–tax–return–period,–while–we–finalise–the–tax–calculations–for–PUT.

Find more information on each fund and how to choose the fund that’s right for you under ‘What are my fund options?’ on page 7.

27

How does tax affect my returns?This section provides a general guide to the tax rules applying to your investment in PUT.

Tax–will–affect–your–returns.–Tax–is–a–complex–subject–and–how–it–affects–your–investments–in–PUT–depends–on–your–individual–circumstances.–If–you–have–any–specific–questions–on–the–consequences–of–investing–into–PUT,–we–suggest–you–seek–tax–advice.

How is PUT taxed?PUT–is–taxed–as–a–Portfolio–Investment–Entity–(called–a–PIE)–that–contains–various–fund–options,–as–described–on–pages–8–to–15.–The–PIE’s–taxable–income–(or–loss)–will–be–attributed–to–you–based–on–your–share–in–the–PIE’s–funds.–The–PIE–pays–tax–to–Inland–Revenue–on–your–share–of–the–income–at–your–Prescribed–Investor–Rate–(referred–to–in–this–Investment–Statement–as–a–‘PIE–tax–rate’).

More–information–on–the–tax–rules–applying–to–PUT–and–its–underlying–investment–assets–can–be–found–in–the–Prospectus.

How do I determine my PIE tax rate?

You can easily update your PIE tax rate by emailing us or completing the Change of Details form and sending it to us.

Individuals

PIE–tax–rates–currently–available–for–NZ–resident–individuals–are–10.5%,–17.5%–and–28%.–There–is–a–tool–at–the–back–of–this–Investment–Statement–that–will–help–you–to–calculate–your–correct–PIE–tax–rate.

If–you’re–a–non-resident,–your–PIE–tax–rate–is–28%.

Joint investorsIf–you’re–investing–with–another–person,–you–will–have–the–PIE–income–or–loss–allocated–solely–to–the–first–named–of–the–joint–investors–listed–in–the–Application–Form–or–solely–to–the–other–joint–investor–if–their–PIE–tax–rate–is–higher.

Other investors

Trusts–(other–than–charities)–are–able–to–select–0%,–17.5%–or–28%.–

Testamentary–trusts–can–also–select–10.5%.–

Corporates–and–charitable–trusts–have–a–PIE–tax–rate–of–0%.–

For–more–information–on–how–to–work–out–your–PIE–tax–rate,–visit–the–Inland–Revenue–website–at––www.ird.govt.nz–(and–search–for–Prescribed–Investor–Rate),–call–Inland–Revenue–on–0800 227 774–or–speak–to–your–tax–adviser.

Do I need to give you my PIE tax rate and IRD number?Yes–-–you–will–need–to–give–us–both–your–PIE–tax–rate–and–IRD–number.–If–you–don't–give–us–both–of–these,–we–will–apply–the–default–rate–of–28%–to–you.–You–must–also–tell–us–when–your–PIE–tax–rate–changes.–We'll–remind–you–each–year–to–check–your–PIE–tax–rate.

What happens if I give you the wrong PIE tax rate?If–you–give–us–the–wrong–PIE–tax–rate–or–if–you–don’t–tell–us–it–has–changed,–you–may–end–up–paying–too–much–tax–on–your–investment–and–you–won’t–be–able–to–recover–it.–You–may–even–have–more–tax–to–pay,–as–well–as–interest–and–penalties–and–have–to–file–a–tax–return.

How do I pay my PIE tax each year?We–calculate–and–accrue–your–PIE–tax–liability–throughout–the–year–so–that–we–can–meet–your–end–of–year–PIE–tax–obligations.–We–collect–your–share–of–PIE–tax–by–cashing–up–some–of–your–units.–We–may–collect–tax–throughout–the–year–if–you’re–making–any–withdrawals–or–switch–investment–funds.–At–the–end–of–each–31–March–tax–year–and–on–full–withdrawal–we–will–finalise–your–tax–position.–

Sometimes–you–may–get–a–PIE–tax–rebate.–For–example,–this–could–happen–if–the–PIE–attributes–to–you–more–tax–credits–from–your–investment–than–you–need–to–pay–your–PIE–tax–liability–or–if–you–are–in–a–PIE–tax–loss–position–for–the–year.–If–this–occurs,–we–will–issue–you–with–additional–units–in–PUT–or–pay–you–any–rebate–on–a–full–withdrawal–to–your–bank–account.

28


How do I find out how much PIE tax I’ve paid?You–can–view–your–PIE–tax–paid–on–your–customer–statements.

By–31–May–each–year–we’ll–also–send–you–an–annual–tax–statement–showing–the–amount–of–tax–we–have–paid–or–rebated–to–you–for–the–tax–year.

What is the impact on my tax return?Generally,–if–you–have–supplied–the–correct–PIE–tax–rate–and–you–are–an–individual–taxpayer,–you–won’t–need–to–include–your–PIE–income–in–your–personal–tax–return.–

For–tax–paying–investors–with–a–0%–PIE–tax–rate,–PIE–allocated–income–must–be–accounted–for–in–your–tax–return.–Trusts–with–a–PIE–tax–rate–other–than–28%,–must–also–include–their–PIE–allocated–income–in–their–tax–return.–If–you–are–unsure–how–to–include–your–PIE–taxable–income–in–your–tax–return,–you–should–talk–to–your–tax–adviser.

How are withdrawals from PUT taxed?As–you–have–already–been–taxed–on–your–share–of–the–income–of–the–PIE,–amounts–you–withdraw–are–not–taxable.

Interest earned on your holdings in your CMA will have RWT deducted.See–page–16–for–more–details.

Terms used throughout this Investment StatementTo–help–you–better–understand–this–Investment–Statement,–you’ll–find–definitions–of–terms–used–in–the–glossary–of–terms–on–page–48.

29

What are my risks?

It’s important for you to know that there are risks in any investment you make, including this one. However, there are various kinds of risk and various levels of risk you should consider. By investing in PUT you accept the risks - in exchange for receiving a higher potential return than is offered by a cash-like investment, such as a bank account or term deposit when you invest in PUT funds. By doing so, you also accept the risks that go with it.

We examine these risks in the following pages so you have all the key information at your fingertips when deciding if PUT is right for you.

How do risks affect my investment? 31

What are the investment risks? 31

What are the other risks? 33

How do risks affect my investment?It’s important to know that no-one can predict every event that may affect investments. Underlying assets of the funds will rise and fall in value and returns are likely to be negative from time to time. Returns are not guaranteed and you may get back more or less than the total amount invested when you leave PUT.

This–section–provides–you–with–a–brief–summary–of–the–principal–risks–that–can–affect–your–investment–in–PUT.–This–is–not–an–exhaustive–list–but–covers–those–risks–that–we–believe–to–currently–be–the–most–important.–If–you–would–like–more–information–about–these–and–other–risks–that–may–affect–PUT,–please–refer–to–the–Prospectus–or–speak–to–your–Adviser.

What are the investment risks?On page 26 we described the relationship between risk and return for different types of assets. Generally, growth assets (shares) have the potential for higher returns over the long term than income assets (cash and fixed interest). However, growth assets also carry the highest degree of risk. You may get negative or lower than expected returns from your investment in the PUT funds. The likelihood of this risk eventuating depends on which fund you’re invested in and when you withdraw.

This–graph–is–for–illustration–purposes–only.–It–shows–the–nominal–(unadjusted)–return–of–$100–invested–in–a–basket–of–growth–and–income–indices–over–a–29–year–period–starting–from–31–December–1985.–It–does–not–reflect–actual–returns–of–any–fund–and–is–not–a–prediction–of–future–returns–(which–are–subject–to–investment–and–other–risks,–including–loss–of–income–and–principal–invested).

Source:–AMP–Capital

What are my risks?

This–graph–shows–the–typical–nature–of–returns–of–growth–assets–and–income–assets.––As–you–can–see,–growth–assets–have–more–fluctuations–in–value–compared–to–income–assets.–There–may–be–periods–of–large–fluctuations–for–growth–assets–as–highlighted–(by–the–blue–bar–in–the–graph)–during–2007-2008.–This–will–affect–the–value–of–investments–where–there–is–a–higher–allocation–to–growth–assets.

$-

$500

$1,000

$1,500

$2,000

$2,500

85 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15

$100 invested in December 1985

Growth

Income

31

The–prices–and–values–of–assets–held–by–a–PUT–fund–will–fluctuate–as–a–result–of–changes–in–market–conditions.–For–example,–if–you’re–invested–in–a–fund–that–holds–New–Zealand–shares,–and–the–share–market–falls–in–New–Zealand,–then–the–value–of–your–investment–is–likely–to–fall.

The–value–of–your–investment,–and–your–ability–to–withdraw,–may–be–affected–by–different–types–of–investment–risks–(or–a–combination–of–risks).–Certain–risks–may–be–linked.–For–example,–a–political–event–could–lead–to–a–liquidity–risk.–Some–key–examples–are–shown–below–together–with–how–they–generally–affect–the–funds:

Types–of–investment–risk

Description Affected–FundsMay–affect–your–ability–

to–withdraw

May–affect–your–

returns

Market riskInvestments–may–be–affected–by–economic–and–regulatory–conditions,–political–events–and–environmental–issues.

All–funds.

Credit risk

A–borrower–may–default–on–their–loan–or–be–otherwise–unable–to–meet–their–financial–obligations.–The–impact–of–this–will–be–a–reduction–in–the–level–of–returns–or–the–full–amount–of–the–investment–not–being–recovered.––

Funds–with–exposure–to–cash–and–fixed–interest–assets–will–be–affected–by–credit–risk.

Most affected:Select–Cash,–OnePath–NZ–Cash,–Select–Income,–AMPCI–NZ–Fixed–Interest,–AMPCI–NZ–Fixed–Interest–Index,–OnePath–NZ–Fixed–Interest,–State–Street–Global–Fixed–Interest–Index,–PIMCO–Global–Fixed–Interest,–Blackrock–Global–Fixed–Interest,–Select–Conservative,–Dynamic–Markets–Conservative

Least affected:Select–Growth,–Dynamic–Markets–Growth.

Interest rate risk

Unexpected–changes–in–interest–rates–may–positively–or–negatively–affect–the–value–of–and–returns–from–cash–and–fixed–interest–investments.

Funds–with–exposure–to–cash–and–fixed–interest–assets–will–be–affected–by–interest–rate–risk.

Most affected:AMPCI–NZ–Fixed–Interest,–AMPCI–NZ–Fixed–Interest–Index,–OnePath–NZ–Fixed–Interest,–State–Street–Global–Fixed–Interest–Index,–PIMCO–Global–Fixed–Interest,–Blackrock–Global–Fixed–Interest,–Select–Conservative,–Dynamic–Markets–Conservative,–Select–Cash,–OnePath–NZ–Cash,–Select–Income


Currency risk

The–value–of–the–investments–denominated–in–foreign–currencies–may–fall–if–the–New–Zealand–Dollar–strengthens–against–those–currencies.

All–funds–(other–than–Select–Cash–and–OnePath–NZ–Cash).–Funds–may–use–currency–hedging–to–reduce–their–exposure–to–currency–risk.–Funds–with–greater–exposure–to–assets–denominated–in–foreign–currency–will–be–more–affected–by–currency–risk.

Most affected:State–Street–Global–Shares–Index,–FD–International–Share–Fund–1–-–Value,–FD–International–Share–Fund–3–-–Growth

Least affected:Select–Conservative,–Dynamic–Markets–Conservative.

Liquidity risk

It–may–not–be–possible–to–sell–at–the–desired–time,–at–fair–value.–This–may–be–caused,–or–contributed–to,–by–one–or–more–of–the–risks–described–elsewhere–in–this–section.

All–Funds.–It–is–generally–accepted–that–real–property–has–the–highest–liquidity–risk–while–cash–investments–have–the–least–liquidity–risk.

Most affected:Select–Growth,–Dynamic–Markets–Growth

Least affected:Select–Cash,–OnePath–NZ–Cash.

Investment sector risk (Cash)

That–inflation–will–erode–value.–Where–cash–assets–included–in–a–fund–are–placed–on–bank–deposit–there–is–also–a–small–risk–of–the–bank–defaulting,–meaning–that–some–or–all–of–the–cash–may–be–lost.

Funds–with–exposure–to–cash–assets–will–be–affected–by–this–risk.

Most affected:Select–Cash,–OnePath–NZ–Cash,–Select–Income,–Select–Conservative,–Dynamic–Markets–Conservative


Investment sector risk (Fixed Interest)

For–any–particular–fixed–interest–security,–changes–to–interest–rates–in–the–market–affect–its–value–and–there–is–the–risk–of–the–borrower–not–making–the–interest–payments–and/or–not–repaying–the–loan.

Funds–with–exposure–to–fixed–interest–assets–will–be–affected–by–this–risk.

Most affected:AMPCI–NZ–Fixed–Interest,–AMPCI–NZ–Fixed–Interest–Index,–OnePath–NZ–Fixed–Interest,–State–Street–Global–Fixed–Interest–Index,–PIMCO–Global–Fixed–Interest,–Blackrock–Global–Fixed–Interest,–Select–Income,–Select–Cash,–OnePath–NZ–Cash,–Select–Conservative,–Dynamic–Markets–Conservative


It’s important for you to know that not all funds are affected to the same extent by these risks, so read this table in conjunction with the fund snapshots on pages 8 to 15, where we show you which two risks are the most key to each fund.

32

Other–examples–of–investment–risk–include–fund–of–funds–risk,–counterparty–risk–and–derivative–risk.–Details–of–these–risks–can–be–found–in–the–Prospectus.

What are the other risks?The–following–risks–affect–all–of–the–funds–or–PUT–as–a–whole,–regardless–of–which–fund–you’re–invested–in.

Risk– Description May–affect–your–ability–to–

withdraw

May–affect–your–returns

Administrative failures

There–will–always–be–the–risk–of–a–technological–or–other–failure–or–event–that–may–affect–PUT–or–the–financial–markets–in–general.–If–that–occurs,–it–may–affect–returns.

Service provider operational failures

Various–parties–are–involved–in–the–operation–of–PUT–including–us,–AMP–Services,–the–Trustee,–and–from–time–to–time–managers–of–underlying–funds.–Any–of–these–parties–failing–to–perform–their–obligations–could–adversely–affect–you.

Losing PIE tax status

There–is–a–risk–that–PUT–may–lose–its–PIE–status–if–it–fails–to–satisfy–PIE–eligibility–criteria,–and–that–failure–is–not–remedied–within–the–period–permitted–by–law.–Although–PUT–comprises–a–number–of–funds,–it–is–structured–as–a–single–PIE–for–tax–purposes.–However,–we–actively–monitor–PIE–status–and–proactively–manage–this–risk.

Restrictions of withdrawals, transfers or switches

Withdrawals,–transfers–or–switching–between–PUT–funds–may–be–deferred–by–us–in–certain–circumstances,–as–outlined–on–page–27.–Similarly,–a–fund–manager–may–also–suspend–or–defer–giving–effect–to–withdrawal–requests.–Any–such–suspension–or–deferral–will–restrict–your–ability–to–withdraw–or–switch–between–PUT–funds.

If PUT becomes insolvent or is wound up

There–is–a–risk–that–PUT–may–be–unable–to–meet–its–financial–obligations,–for–example,–if–it–becomes–insolvent.–If–this–happens,–you–may–not–recover–the–full–amount–of–your–investment–in–PUT.–You–won’t–incur–any–liability–to–any–person,–other–than–for–expenses,–fees–or–taxes–payable–before–the–insolvency.–You–will–also–not–have–to–pay–any–more–money–except–possibly–in–relation–to–tax.

−– Claims–for–fees–and–expenses–payable–in–the–normal–course–of–business,–and–other–claims–preferred–at–law,–tax–and–costs–of–winding–up–PUT,–will–rank–ahead–of–claims–made–by–you.

−– Your–claim–on–the–assets–of–PUT–will–rank–equally–with–the–claims–of–other–PUT–investors.

In–accordance–with–the–wind–up–process–set–out–in–the–PUT–trust–deed,–any–remaining–PUT–assets–(after–the–payment,–or–the–provision–for–payment,–of–fees,–expenses–and–taxes)–will–be–distributed–to–you–in–cash–in–proportion–to–the–value–of–your–respective–investment–in–PUT.

Other–examples–of–risks–such–as–these–include–(amongst–others)–trust–liquidity–risk,–borrowing–risk,–regulatory–risk–and–single–trust–fund–risk.–Details–of–these–risks–can–be–found–in–the–Prospectus.

What are my risks?

Investment sector risk (Property)

The–value–of–property–investments–may–be–affected–by–demand,–location,–the–quality–of–the–property,–market–conditions,–opinion–and–the–market–for–property–investments.

Funds–with–exposure–to–real–property–assets–will–be–affected–by–this–risk.

Most affected:Select–Growth,–Dynamic–Markets–Growth


Investment sector risk (Shares)

The–value–of–an–individual–share–is–influenced–by–many–factors–including–the–performance–of–the–relevant–company,–market–opinion–and–the–economic–performance–of–the–country–or–sector.

Funds–with–exposure–to–shares–will–be–affected–by–this–risk.

Most affected:AMPCI–NZ–Shares–Index,–AMPCI–NZ–Shares,–OnePath–NZ–Shares,–State–Street–Global–Shares–Index,–State–Street–Global–Shares–Index–Hedged,–FD–International–Share–Fund–1–-–Value,–FD–International–Share–Fund–3–-–Growth,–Select–Growth,–Dynamic–Markets–Growth


33

Can the investment be altered?

We understand that changes in your personal circumstances can affect any savings or investment plan you may have in place. So it’s reassuring to know that your investment in PUT can change with you. You can change the amount and frequency of your payments and the way your money is invested. You can even move your savings from one investment account to another.

We can also make changes to PUT.

Changes you can make 35

Changes we can make 37

Changes to legislation 37

Changes you can makeAs long as you maintain the $1,000 current minimum in each of your chosen funds, you can make the following changes to your investment in PUT.

All–the–forms–mentioned–below–are–available–at–amp.co.nz.––Our–email–address–is [email protected].

What–do–you–want–to–change?

Can–I–email–or–write–to–you–with–the–change?

Can–I–let–you–know–by–phone–using–TTS?–(see–page–46–for–more–information–on–TTS)

Is–there–a–form–available–to–do–this?

I want to set up or change my direct debit payments

You–can–setup–a–direct–debit–at–any–time.–If–you’re–making–direct–debit–payments,–you–can–change–the–frequency–and/or–amount–of–your–direct–debits–at–any–time.

Yes–––if–you’re–simply–changing–the–frequency–and/or–amount.

Yes–––if–you’re–simply–changing–the–frequency–and/or–amount.

Yes–––if–you’re–setting–up–a–new–direct–debit–or–changing–bank–accounts,–the–amount–or–the–frequency–of–your–payments,–fill–out–the–Direct–Debit–Authority–available–at–amp.co.nz.–If–you’re–setting–up–a–new–direct–debit,–you’ll–also–need–to–attach–an–Additional–contribution–form–so–we–know–how–to–invest–your–payments–(i.e.–your–investment–profile).

I want to change my choice of funds

If–you–decide–to–change–your–choice–of–funds,–you–can–easily–switch–your–savings–from–one–fund–to–another.

If–you–do–switch–your–savings–to–new–funds,–we–will–automatically–change–your–investment–profile–to–match–your–new–choice.

No–(although–you–can–email–us–the–Changing–your–Investments–form)

Yes–if–switching–to–existing–funds–but–no–if–switching–to–new–funds

Yes–––simply–complete–the–Changing–your–Investments–form

I want to change my investment profile

You–can–change–how–your–future–payments–are–allocated–between–funds.–If–you–have–rebalancing–turned–on–and–you–change–your–investment–profile,–we’ll–also–switch–all–your–existing–balances–to–the–new–funds–(as–well–as–future–payments)–to–reflect–your–new–investment–profile.

No–(although–you–can–email–us–the–Changing–your–Investments–form)

Yes–if–changing––payments–to–existing–funds–but–no–if–payments–are–going–to–new–funds

Yes–––simply–complete–the–Changing–your–Investments–form

I want to turn rebalancing on or off

Yes No Yes–––simply–complete–the–Changing–your–Investments–form.

Peter Peter is a single guy in his thirties with two different investment accounts. One is for a home deposit, the other for his dream sports car. But when Peter gets married and his wife falls pregnant, his priorities change. Peter decides to move his sports car savings over to his home deposit investment account. He also increases his regular savings rate so that he and his new family will only have to save for another year or so to have enough for their first family home.


35

Make sure you email us from the email address that you give us on your application form

When–you–email–us–to–make–changes–to–your–account,–we–can–only–process–the–change–if–you’ve–emailed–us–from–the–email–address–that–we–already–have–stored–for–you.

What–do–you–want–to–change?

Can–I–email–or–write–to–you–with–the–change?

Can–I–let–you–know–by–phone–using–TTS?–(see–page–46–for–more–information–on–TTS)

Is–there–a–form–available–to–do–this?

I want to move my savings between investment accounts

If–your–investment–goals–change,–you–can–easily–move–your–savings–from–one–investment–account–to–another.

Yes Yes Yes–––simply–complete–the–Changing–your–Investments–form

I want to set up or stop my yearly increase facility – or change the yearly rate

You–can–set–up–or–stop–your–yearly–increase–facility.–You–can–also–change–the–rate–at–which–your–regular–payments–increase––each–year.

Yes Yes Yes–––simply–complete–the–Changing–your–Investments–form

I want to update my personal details

Please–make–sure–you–tell–us–when–your–personal–details–change,–such–as–address–or–PIE–tax–rate.

Yes–(except–to–change–your–name–or–your–withdrawal–bank–account)

Yes–(except–to–change–your–name–or–your–withdrawal–bank–account)

Yes–––simply–complete–the–Change–of–details–form.

Did you know?Before–making–changes–to–your–PUT–investment–make–sure–you–are–reading–the–most–recent–PUT–Investment–Statement,–available–at–amp.co.nz

36

Changes we can make

Changes to feesWe–can–change–fees–at–any–time.–For–more–information–about–changing–fees,–see–page–23.–Please–be–assured–that–if–we–do–increase–fees–we–will–give–you–at–least–one–month's–notice.

Changes to the trust deedWe–and–the–Trustee–may–amend–the–trust–deed–at–any–time–with–your–approval–(this–takes–the–form–of–an–extraordinary–resolution–of–affected–investors).–In–some–limited–circumstances,–such–as–where–the–changes–are–of–a–technical–nature–or–where–they–don’t–adversely–affect–your–rights,–we–and–the–Trustee–can–amend–the–trust–deed–at–anytime–without–your–approval.–The–financial–statements–will–tell–you–of–any–trust–deed–changes.–These–are–available–at–amp.co.nz.

Changes to fundsGenerally,–we–may–wind–up,–merge–or–alter–the–terms–of–any–PUT–fund–including–changing–the–fund–managers,–as–long–as–the–Trustee–does–not–believe–the–change–will–adversely–affect–investors.–We–may–also–close–any–fund–to–new–contributions–temporarily–or–until–the–fund–is–wound–up,–on–giving–notice–to–the–Trustee.

The–asset–allocation–benchmarks–and–investment–objectives–and–policies–for–each–of–the–PUT–funds,–their–fund–managers,–as–well–as–the–funds–available,–may–change–from–time–to–time–without–notice–(and–actual–asset–allocations–will–vary–from–benchmarks).

Winding up PUTWe–can–propose–to–investors–to–wind–up–PUT–at–any–time.–If–a–wind–up–occurred,–we–would–deal–with–the–assets–as–described–under–‘If–PUT–becomes–insolvent–or–is–wound–up’–on–page–33.

Currently,–we–have–no–intention–of–proposing–to–wind–up–PUT.

Changes to legislationThis–Investment–Statement–reflects–current–legislation,–including–taxation,–as–it–applies–to–PUT.–Legislation–can–be–changed–and–changes–may–affect–you–and–your–investments–in–PUT.

An–example–is–the–Financial–Markets–Conduct–Act–which–came–into–full–force–on–1–December–2014,–subject–to–a–transition–period–of–up–to–two–years.–The–Financial–Markets–Conduct–Act–fundamentally–changes–the–laws–that–regulate–unit–trusts–in–New–Zealand.


37

How do I cash in my investment?

PUT is designed for easy, flexible saving, so you can request a withdrawal anytime you like. You can set up a regular withdrawal, make one-off withdrawals, or even transfer your investment to someone else.

How do I withdraw my savings? 39

Can I transfer my PUT investment? 40

How do I withdraw my savings?PUT is a flexible investment, so you can request to withdraw your money any time.

You–can–choose–to–withdraw–a–lump-sum,–or–set–up–a–regular–withdrawal.

How to make withdrawals

Regular withdrawals How to set up a regular withdrawal

Simply–fill–out–the–withdrawal–form–available–at–amp.co.nz.–You–can–also–do–this–by–TTS,–as–long–as–you–have–previously–provided–us–with–proof–of–your–New–Zealand–bank–account.

Frequency

Monthly.

Minimum amount

Each–regular–withdrawal–must–be–at–least–$250.

Lump-sum withdrawals How to withdraw a lump-sum

Simply–fill–out–a–withdrawal–form.–You–can–also–do–this–by–TTS,–as–long–as–you–have–previously–provided–us–with–proof–of–your–New–Zealand–bank–account.

Frequency

You–can–make–lump-sum–withdrawals–as–often–as–you–like.

Minimum amount

Each–lump-sum–withdrawal–must–be–a–minimum–of–$500–––or–a–full–withdrawal.

Do I have to maintain the minimum balances when I withdraw?Yes.–When–you–withdraw,–you’ll–need–to–consider:

–– The–minimum–fund–balance–(explained–on–page–6).–If–your–fund–balance–goes–below–$1,000,–we–may–contact–you–to–see–if–you–would–like–to–make–a–top-up–payment–or–a–full–withdrawal–from–that–fund.–If–we–can’t–reach–you–we–may–sell–your–units–in–that–fund–and–pay–the–proceeds–to–your–nominated–bank–account;–and

–– The–minimum–CMA–balance–(explained–on–page–16).–If–the–balance–of–your–CMA–falls–to–below–a–quarter–of–the–minimum–balance,–we’ll–automatically–sell–some–units–in–your–funds–to–bring–it–back–to–the–minimum–level.

How do I cash in my investment

For more information about our Telephone Transaction Service (called TTS), see page 46.

What is proof of my bank account?

To–protect–you–from–fraud,–we–ask–that–you–provide––us–with–proof–of–your––New–Zealand–bank–account–when–you–withdraw.–This–can–be–an–original–pre-printed–deposit–slip–or–a–certified–copy–of–a–bank–statement–showing–your–name–and–account–number.–(which–must–be–no–more–than–6–months–old).–Please–contact–us–for–a–list–of–persons–who–we–will–accept–certification–from.

39

Did you know?Your–nominated–bank–account–is–the–bank–account–you–provide–on–your–application–form.

Aden and Joyce–Aden–and–Joyce–are–finally–setting–sail–on–a–four–month–cruise–around–the–world–and–the–last–thing–they–want–to–worry–about–while–they’re–away–is–paying–their–mortgage–on–time.–So–they’ve–set–up–a–regular–withdrawal–facility–which–will–automatically–transfer–some–of–their–PUT–funds–into–their–nominated–bank–account–so–that–they–can–meet–their–mortgage–payments.

What happens if I need to sell some units in a PUT fund?On–the–withdrawal–form,–you’ll–be–asked–which–PUT–funds–you–would–like–to–sell–some–units–from–to–fund–your–withdrawal.–We’ll–use–the–unit–price–applying–on–the–day–your–withdrawal–is–processed.

How long does it normally take to receive my withdrawal?Once–we–have–all–the–information–we–need,–you’ll–normally–receive–your–money–into–your–nominated–bank–account–within–eight–working–days.

Withdrawals–from–PUT–may–be–suspended–or–deferred–in–the–circumstances–described–under–‘Restrictions–on–withdrawals,–transfers–or–switches’–on–page–27.

Can I transfer my PUT investment?Yes you can. The flexibility of PUT allows you to transfer your investment to another person or party.

In–our–opinion,–there–is–no–established–market–for–sales–of–investments–in–PUT.–Transfers–may–be–deferred–in–the–circumstances–described–under–'Restrictions–on–withdrawals,–transfers–or–switches'–on–page–27.

There–may–be–tax–implications,–fees–or–other–charges–applying–when–you–transfer.

Please–see–the–Prospectus–or–contact–your–Adviser–for–the–conditions.

40

Who do I contact with inquiries about my investment?

We understand that from time to time, you’ll have questions about your PUT investment. And we’ve made it easy to find the answers. You’ll find our website at amp.co.nz very helpful, with updates and important documents available to download. You can also call us on 0800 267 111 or seek advice from an Adviser. Over the page you’ll find all our contact details and information on how to contact an Adviser.

Any questions? We’re here to helpIf you have any queries about PUT or your investment with us, please contact your Adviser or:

Visit our website:–amp.co.nz

Email us:–[email protected]

Call our Customer Services Team on:–0800–267–111,–Monday–to–Friday–8am–––6pm

Write to us at:

PUT–Customer–Services–team–AMP–Services–(NZ)–Limited–Level–21,–AMP–Centre,–29–Customs–Street–West,–Auckland–1010–PO–Box–55,–Shortland–Street,–Auckland–1140

Looking for an Adviser?

If–you’d–like–to–talk–to–an–Adviser,–we’ll–happily–put–you–in–touch–with–one.–Or–you–can–find–an–Adviser–by–visiting–our–website–above.

Kelly–Kelly–recently–moved–house–and–luckily,–he–remembered–to–check–whether–we–had–his–new–address–details.–It–turned–out–we–still–had–his–old–details,–which–meant–Kelly–may–have–missed–out–on–some–important–correspondence.–It–only–took–a–quick–call–to–our–Customer–Services–Team–to–update–his–address.–Remember,–we’re–here–to–help–so–feel–free–to–contact–us–anytime.

42

Is there anyone to whom I can complain if I have problems with the investment?

It’s reassuring to know that the management of unit trusts is monitored by the Trustee and we do everything we can to give you a hassle-free experience. That’s why we have processes in place to help you should you need to make a complaint to us, the Trustee, the Insurance and Savings Ombudsman or to Financial Services Complaints Limited. These processes are explained over the page, together with the relevant contact details.

Who do I contact if I have any problems?We understand that if you have any problems with your PUT investment, you want it fixed fast. Below we’ve outlined how you can make a complaint to us or the Trustee.

AMPYou–can–lodge–a–complaint–with–our–Customer–Response–Team–as–follows:

Go to our website –amp.co.nz

Email us at:––[email protected]

Call us on: –0800–267–111,–Monday–to–Friday–8am–––6pm

Write to us at:–Customer–Response–Team–AMP–Wealth–Management–New–Zealand–Limited Level–21,–AMP–Centre–29–Customs–Street–West,–Auckland–1010–PO–Box–55,–Shortland–Street,–Auckland–1140

Fax us on:––0800–509–955

We–are–a–member–of–an–approved–dispute–resolution–scheme–operated–by–the–Insurance–and–Financial–Services–Ombudsman–('IFSO').–If–you–have–complained–to–us–and–you–have–reached–the–end–of–our–internal–complaints–process–without–your–complaint–being–resolved–to–your–satisfaction,–the–IFSO–may–be–able–to–consider–your–complaint.–For–the–IFSO–to–consider–your–complaint–we–must–have–‘deadlocked’–your–complaint–and–other–criteria–must–be–met.

You–can–contact–the–IFSO–by–phoning––0800 888 202,–faxing–(04) 499 7614,–emailing––[email protected],–or–writing–to:

Level–11,–Classic–House–15–-–17–Murphy–Street–PO–Box–10-845–Wellington–6143

The Trustee Write to: The–New–Zealand–Guardian––Trust–Company–Limited–Level–2–99-105–Customhouse–Quay–PO–Box–3845–Wellington–6140

Call on:––0800–878–782

The–Trustee–is–a–member–of–an–approved–dispute–resolution–scheme–operated–by–Financial–Services–Complaints–Limited–(‘FSCL’)–and–has–40–working–days–to–respond–to–any–complaints–made–to–it.–If–you–are–not–satisfied–by–the–Trustee’s–response,–you–may–refer–the–matter–to–FSCL–by–emailing–[email protected]–or–calling–FSCL–on–0800 347 257.–Alternatively–you–may–write–to–FSCL–at:

Financial–Services–Complaints–Limited–4th–Floor,–101–Lambton–Quay–PO–Box–5967–Lambton–Quay–Wellington–6145

–

Information–about–the––IFSO–scheme–is–available–at––www.ifso.nz. There–is–no–cost–for–using–the–IFSO’s–services.

Full–details–of–how–to––access–the–FSCL–scheme–can–be–obtained–on–their–website–www.fscl.org.nz.–There–is–no–cost–for–using–FSCL’s–services.

44

What other information can I obtain about this investment?

While some people are happy to just check on their investments from time to time, others want to know the ins and outs of how their investments work and how they’re performing.

You can easily keep track of your investment accounts by phone. We’ll also send you regular customer statements that outline how your investment is performing.

However, if you’d like more detailed information about your investments, there is a range of documents and helpful fact sheets at your disposal. You’ll find details of these in the following pages.

How do I keep track of my investment? 46

We’ll keep you updated 46

What other information can I get? 47

Glossary of terms 48

How do I keep track of my investment?It’s easy to keep track of your investment by phone. You can call us and get your balance in each investment account, your CMA balance or details of any payments or withdrawals you’ve made.

Telephone Transaction ServiceYou–can–manage–your–PUT–investment–with–our–Telephone–Transaction–Service–(TTS).–

TTS–allows–you–to–make–the–changes–listed–under–‘Changes–you–can–make’–on–page–35.––You–can–make–withdrawals–and–check–your–balance–and–transactions.

To–sign–up–for–TTS,–simply–fill–out–the–relevant–section–in–the–application–form–at–the–back–of–this–Investment–Statement.–Please–be–aware–that–by–signing–up–to–TTS,–you–automatically–permit–your–Adviser–to–conduct–any–of–the–transactions–that–you–can–do–including–keeping–track–of–your–investments,–on–your–behalf–through–TTS–(except–make–a–withdrawal,–which–he–or–she–must–do–in–writing).

We’ll keep you updated

Customer statementWe’ll–send–you–a–statement–outlining–your–PUT–balance,–and–the–transactions–relating–to–your–balance,–towards–the–end–of–April–and–October–each–year.–This–statement–will–also–show–you–how–your–balance–is–broken–down–into–your–funds.

Financial statementsWe’ll–write–to–you–and–let–you–know–when–the–previous–financial–year’s–audited–financial–statements–are–available–online.

Annual PIE tax statement/RWT statementWe’ll–send–you–a–tax–statement–with–the–information–prescribed–by–Inland–Revenue––by–31–May–each–year.

Don’t miss any important updates.

Be–sure–to–tell–us–if–your–address–changes–so–we–can–stay–in–touch.–

46

What other information can I get?

Prospectus, Investment Statement, trust deed and financial statementsMore–information–about–PUT–is–contained–in–the–Prospectus,–trust–deed–and–the–latest–PUT–financial–statements.

You–can–get–copies–of–the–Prospectus,–the–latest–financial–statements,–and–the–trust–deed–from–us–free–of–charge.

Copies–of–the–Investment–Statement,–Prospectus–and–the–financial–statements–are–available–on–amp.co.nz.–The–Prospectus,–financial–statements–and–other–documents–relating–to–PUT–are–also–filed–on–a–public–register–at–the–Companies–Office–of–the–Ministry–of–Business,–Innovation,–and–Employment–and–can–be–viewed–on–the–Companies–Office–website–at––www.business.govt.nz/companies.

What other information can I obtain about this investment?

47

Glossary of termsAMP, we, our,–and–us–means–AMP–Wealth–Management–New–Zealand–Limited,–the–manager–of–PUT.

AMP Services–means–AMP–Services–(NZ)–Limited,–the–administration–manager–of–PUT–and–a–related–party–of–AMP.

Benchmark–(also–known–as–an–index)–is–a–tool–to–compare–certain–fund–features–against,–such–as–risk,–return,–which–investments–to–hold–and–their–weighting–in–the–fund.

Business day–means–a–day–other–than–Saturday–or–Sunday–on–which–registered–banks–are–open–for–general–banking–business–in–Auckland–and–Wellington.

Currency hedging is–the–process–of–limiting–or–removing–the–effect–of–movements–in–foreign–currencies–relative–to–the–NZ–dollar.

Current–or–currently–means–that–legislation,–policy–or–a–practice–is–current–as–at–the–date–of–this–Investment–Statement–but–may–change–at–any–time–without–notice.

Diversified funds–are–generally–funds–designed–to–diversify–your–investment–across–a–range–of–asset–classes,–underlying–fund–managers–and–styles.–

Fund–means–a–fund–within–PUT.–The–funds–available–within–PUT–are–listed–on–pages–8–to–15.

Fund manager–means–any–underlying–fund–manager.

Growth assets–include–investments–in–property–and–shares.–Growth–assets–aim–to–provide–capital–growth–and–usually–have–a–higher–risk–than–income–assets.

Income assets–include–investments–in–cash–and–fixed–interest–(bank–deposits–and–bonds).–Income–assets–aim–to–provide–you–with–steady–interest–income–and–capital–preservation–but–their–long–term–earning–potential–is–lower–than–growth–assets.

Investment account–is–an–account–you–set–up–within–PUT–in–order–to–save–for–a–particular–financial–goal.–Your–PUT–investment–is–the–total–of–your–investment–accounts.

Investment profile–defines–how–your–money–is–allocated–across–your–investment–accounts–and–then–across–the–fund–options–within–each–investment–account.–If–you–make–regular–payments–to–PUT,–we–ask–you–to–set–an–investment–profile–so–that–we–always–know–how–to–invest–your–money.

NRWT–means–Non-Resident–Withholding–Tax.–NRWT–is–deducted–from–non-resident–passive–income.–Non-resident–passive–income–includes–NZ–sourced–interest,–dividends–and–royalties–paid–to––non-residents.

Official Cash Rate (OCR)–is–the–interest–rate–set–by–the–Reserve–Bank–of–New–Zealand–to–meet–the–inflation–target.

Passive management–(also–known–as–index–tracking)–is–where–investments–are–made–to–mirror–a–certain–benchmark.

Performance fee–means–a–payment–made–to–a–fund–manager–for–generating–investment–returns–in–excess–of–a–stated–benchmark.–The–performance–fee–is–generally–calculated–as–a–percentage–of–investment–profits.

PIE–means–a–Portfolio–Investment–Entity–as–defined–in–the–Income–Tax–Act–2007.

PIE tax rate–means–Prescribed–Investor–Rate–(PIR).

Prospectus–is–a–document–that–provides–more–detailed–information–about–PUT.––You–can–find–it–on–amp.co.nz.

RWT–means–Resident–Withholding–Tax.–RWT–is–deducted–from–resident–passive–income–you–receive.–Resident–passive–income–includes–NZ–source–interest–and–dividends.–Individuals–can–choose–a–rate–of–10.5%,–17.5%,–30%–or–33%.

Single sector funds–means–funds–that–only–invest–in–one–of–the–major–asset–classes–such–as–fixed–interest,–shares–or–property.

Trust deed–is–the–document–governing–PUT,–as–amended–from–time–to–time.

TTS–means–Telephone–Transaction–Service.–TTS–lets–you–make–withdrawals–from–and–check–your–balances–and–transactions–by–phone.

48

Calculate your PIE tax rateIf you’re an individual investor, use this simple guide to confirm your PIE tax rate.

Before–you–start–you–will–need–to–know–what–your–income–(including–income–from–PIE–investments)–was–over–the–last–two–years.–If–you’re–unsure–of–your–income–we–recommend–you–contact–your–employer(s),–your–accountant,–or–Inland–Revenue.

Taxable–income–includes–non–NZ-sourced–income–even–if–you–were–not–resident–when–it–was–earned.–New–residents–can–elect–out–of–this–treatment–in–some–cases–(see–www.ird.govt.nz).

The–information–in–this–guide–is–intended–for–general–tax–information–purposes–only–and–does–not–constitute–tax–advice.–The–information–is–based–on–current–legislation.––We–recommend–that–you–seek–professional–advice–on–the–tax–implications–of–investing–and–that–you–should–not–rely–solely–on–the–information–in–this–guide.

Are you a NZ tax resident?

In either of the last two income years:–– was–your–taxable–income–$14,000–or–less–(excluding–income–from–PIEs);–and––– was–your–total–taxable–income–(including–PIE–and–non-PIE–income)–

$48,000–or–less?

In either of the last two income years:–– was–your–taxable–income–$48,000–or–less–(excluding–income–from–PIEs);–and––– was–your–total–taxable–income–(including–PIE–and–non-PIE–income)–$70,000––

or–less?

In each of the last two income years, was either:–– your–taxable–income–$48,000–or–more;–or––– your–total–taxable–income–(including–PIE–and–non-PIE–income)––

$70,000–or–more?

NO

NO

NO

YES

YES

YES

YES

Your PIE tax rate is

28%


10.5%


17.5%


28%

49

50

Premium Investments - AMP Personal Unit Trust (PUT)Application form*–These–fields–must–be–completed

This–form–can–be–completed–on-screen–by–typing–directly–into–the–PDF–document.–Once–you–have–completed–your–details,–print,–sign–and–send–the–form–and–any–supporting–documents–to–the–address–above.

If you’re investing on behalf of a trust, company or partnership, please start at section (b) otherwise start at section (a).

(a) Individual and joint investors

Please–tick–the–category–that–describes–your–application Individual Joint

Principal client

Title: Mr Mrs Ms Miss Dr Other Date–of–birth: D D M M Y Y Y Y

*–First–names: *–Surname:

*–Residential–address:

Postcode:

*–Postal–address–(if–different–to–residential–address):

Postcode:

*–Daytime–phone: Mobile–phone:

Email:

*–IRD–number:

*Are–you–a–US–citizen–or–resident–for–tax–purposes Yes No

*If–‘yes’–please–provide–your–US–tax–identification–number––(TIN)–(For individuals this is your social security number).

* PIE tax rate: * Withholding tax rate:

New Zealand residents (tick–one–only) New Zealand residents (tick–one–only)

10.5% 17.5% 28%# 0%^ 10.5% 17.5% 30% 33%#

Non-residents Non-residents

28%# Non-Resident–Withholding–Tax#

If–non-resident–please–tell–us–your–country–of–residence–for–tax–purposes

#If you do not select an option or if you do not provide an IRD number, this option will be selected for you.

^Only an option if you provide a certificate of exemption

For–help–to–determine–your–correct–tax–rates–visit–www.ird.govt.nz.

Important note: Please–make–sure–you–also–complete–the–identity–verification–form–after–page–9–of–this–application–form.

Please–email–this–completed–form–and––supporting–documents–to:Email [email protected]

or–post–to:Premium Investments AMP Personal Unit Trust AMP Wealth Management New Zealand Limited Freepost 170, PO Box 55 Shortland Street, Auckland 1140

1–of–9

1 December 2015

Investment–Statement–date

(numeric–values–only)–

Second client (for joint applicants only)

Title: Mr Mrs Ms Miss Dr Other Date–of–birth: D D M M Y Y Y Y

*–First–names: *–Surname:

*–IRD–number:

*Are–you–a–US–citizen–or–resident–for–tax–purposes Yes No

*If–‘yes’–please–provide–your–US–tax–identification–number––(TIN)–(For individuals this is your social security number).

If there are more than two people who need to declare their US taxation status, please write their details on a separate page and attach to this form.

* PIE tax rate: * Withholding tax rate


10.5% 17.5% 28%# 0%^ 10.5% 17.5% 30% 33%#

Non-residents Non-residents (tick–one–only)


If–non-resident,–please–tell–us–your–country–of–residence–for–tax–purposes

# If you do not select an option or if you do not provide an IRD number, this option will be selected for you.^ Only an option if you provide a certificate of exemption


Important notes:

1.–For–joint–investors,–the–highest–PIE–tax–rate–and–withholding–tax–rate–will–be–used.–

2.–Please–make–sure–you–also–complete–the–second–identity–verification–form–after–page–9–of–this–application–form.

x.(b) Trusts, companies and partnerships

Please–tick–the–type–of–entity–for–this–application Partnership Company Trust∞ Other

∞ Investments owned by a trust should be held jointly in the names of two of the trustees. All trustees of the trust must be identified in accordance with our AML/CFT procedures.

*Name–of–entity:

*–Registered–office–address–or–principal–business–address:

Registration–number–(if–any):

*–IRD–number:

* PIE tax rate: * Withholding tax rate


0% 10.5% 17.5% 28%# 0%^ 10.5% 17.5% 28% 30% 33%#

Company N/A –§

N/A Company – N/A –§

–+ N/A

Trust –** Trust –

** N/A

Estate –** Estate –

** N/A

Non-residents Non-residents


If–non-resident–please–tell–us–your–country–of–residence–for––tax–purposes

# If you do not select an option or if you do not provide an IRD number, this option will be selected for you + Companies who do not select a rate but who have provided an IRD number will have this rate selected for them

** Only available to trustees of a testamentary trust^ Only an option if you provide a certificate of exemption§ Only available to Maori authorities


Important note: Please–make–sure–you–also–complete–the–relevant–identity–verification–form–available–from–the–find–a–form–section–of–amp.co.nz–or–your–Adviser.

2–of–9


3–of–9

(b) Trusts, companies and partnerships continued

*Additional Tax Details

If–the–entity–is–a–Financial–Institution,–please–provide–either:

Part 2.

The–entity’s–Global–Intermediary–Identification–Number–(GIIN);

The–FATCA–status–of–the–entity:OR

If the entity is not a Financial Institution, please complete part 3.

Yes NoDoes–the–entity–have–any–US–Controlling–Persons^?

Part 3.

If you have ticked ‘yes’ please complete the section below 'Personal details (US controlling persons only)'

Yes No–(If–'no'–please–consider–part–2)Is–the–entity–a–United–States–(US)–Company,–Trust–or–Partnership–for––US–tax–purposes?

If–‘yes’–please–provide–the–US–Tax–Identification–Number–(TIN),–or–the–exemption–code–if–the–entity–is–an–exempt–payee.–

– - (numeric–values–only)

Exemption–code:

If you have ticked ‘yes’ and have completed this section, please go to section (c) Your Investment details

Part 1.

For–entities–the–TIN–is–the–Employer–identification–Number–(EIN):

^Controlling–Person–means–any–individual–who–can–exercise–control–over–an–Entity–(Company,–Trust,–Partnership).–For–example,–any–individual–who–owns,–directly–or–indirectly,–25%–or–more–of–a–company’s–share–capital,–or–the–trustee,–beneficiary–or–settlor–of–a–trust.

Personal details (US controlling persons only)

Applicant 2 (US controlling persons only)

Mr Mrs Ms Miss Dr Other

First–name(s): Last–name:

Residential–address–(must–not–be–a–P.O.–box):

Date–of–birth:

D D– M M Y Y Y Y

Are–you–a–US–citizen–or–resident–for–tax–purposes? Yes No

Mr Mrs Ms Miss Dr Other

First–name(s): Last–name:

Residential–address–(must–not–be–a–P.O.–box):

Date–of–birth:

D D– M M Y Y Y Y

Are–you–a–US–citizen–or–resident–for–tax–purposes? Yes No

If–‘yes’–please–provide–your–US–tax–identification–number–(TIN)–(For individuals this is your social security number).


If–‘yes’–please–provide–your–US–tax–identification–number–(TIN)–(For individuals this is your social security number).


If there are more than two people who need to declare their US taxation status, please write their details on a separate page and attach to this form.

(c) Your investment details

Please–tell–us–how–you–would–like–to–make–your–initial–investment–in–PUT–(please–tick–those–that–apply)

Initial lump sum payment

Lump–sum–payment–amount:– $

If–you’re–making–a–lump–sum–payment–by–cheque,–please–make–this–payable–to–‘AMP Investments Subscription Account’ and–attached–it–to–this–application.

Transfer from an existing AMP product – the existing product must allow you to transfer

Existing–AMP–product–number– Existing–AMP–product–type

Amount–to–be–transferred:– $

Please also complete the AMP Product Transfer Form available from your Adviser or by calling us on 0800 267 111.

Please tick if you would like to make ongoing regular payments

To–set–up–a–regular–payment–to–your–PUT–investment–complete–the–Direct–Debit–Authority–included–at–the–back–of–this–Investment–Statement.

Yearly–increase–of–regular–payment: None CPI or %–(minimum–5%)

Have–you–received–financial–advice–on–this–investment? Yes No

If–yes,–please–ask–your–Adviser–to–complete–section–(k).

4–of–9

Your investment profile - please tell us what percentage of your payments you’d like to split across your account(s) and funds.

The–information–you–provide–below–applies–to–all–payments–unless–you–advise–otherwise.

Lump sum payments Regular paymentsSell down

order §

Office use

Fund Account–1

Account–2

Account–3

Account–4

Account–1

Account–2

Account–3

Account–4

Percentage–of–regular–payment–amount–to–each–account–(this–row–must–total–100%)≠

% % % % 100% % % % % 100%

Diversified funds

Select–Income % % % % % % % % 16 301

Select–Conservative % % % % % % % % 17 302

Dynamic–Markets–Conservative % % % % % % % % 20 310

Select–Balanced % % % % % % % % 18 303

Dynamic–Markets–Balanced % % % % % % % % 21 311

Select–Growth % % % % % % % % 19 304

Dynamic–Markets–Growth % % % % % % % % 22 312

Single sector funds

Select–Cash % % % % % % % % 15 300

OnePath–NZ–Cash % % % % % % % % 1 305

AMPCI–NZ–Fixed–Interest % % % % % % % % 3 316

AMPCI–NZ–Fixed–Interest–Index % % % % % % % % 2 306

OnePath–NZ–Fixed–Interest % % % % % % % % 4 324

State–Street–Global–Fixed–Interest–Index % % % % % % % % 5 307

PIMCO–Global–Fixed–Interest % % % % % % % % 6 318

BlackRock–Global–Fixed–Interest % % % % % % % % 7 317

AMPCI–NZ–Shares–Index % % % % % % % % 8 308

AMPCI–NZ–Shares % % % % % % % % 10 319

OnePath–NZ–Shares % % % % % % % % 9 320

State–Street–Global–Shares–Index % % % % % % % % 11 309

State–Street–Global–Shares–Index–Hedged % % % % % % % % 12 326

FD–International–Share–Fund–1–-–Value % % % % % % % % 13 322

FD–International–Share–Fund–3–-–Growth % % % % % % % % 14 321

Total** 100% 100% 100% 100% 100% 100% 100% 100%

Notes:≠ The ‘Percentage of lump sum and/or regular payment amount to each account’ row must sum to 100%.** Each column should sum to 100% (excluding the ‘Percentage of lump sum and/or regular payment amount to each account’ row).A proportion of your lump sum payment may be retained in the Cash Management Account to satisfy the minimums described on page 16.

§ Within each account, funds will be sold down in the order specified above.

(d) Account names and Adviser fees

Tell–us–the–names–of–the–account(s)–you–are–establishing–in–section–(c)–and–the–Adviser–fees–(if–any)–associated–for–each:

Account name Portfolio servicing feeOne-off advice fee

Sell order of your accounts∞

Do you want to automatically rebalance your account?*

1. UP–TO–1.5%–OR–$– P.A. NIL–OR–$ 1 – 2 – 3 – 4 Y–/N



4. UP–TO–1.5%–OR–$– P.A. NIL–OR–$ 1 – 2 – 3 – 4 Y–/NTo establish more than four accounts please photocopy this page and attach them to this application.The fees you’ve agreed with your Adviser will be deducted from your Cash Management Account and paid directly to your Adviser. If you’re investing in the Select or Dynamic Markets options the portfolio servicing fee is included in your Annual Management Fee.∞ The sell order you give us above will determine what order your accounts are sold to fund any withdrawals. Unless specified at the time of requesting a withdrawal, the funds held within each account will be sold down as set out in Your investment profile above.* Your account will be rebalanced in line with the investment profile you provided above.

5–of–9

(e) Nominated bank account details

Please–give–us–a–nominated–bank–account–for–all–withdrawals.

Bank Branch Account–number Suffix Account–name

The–nominated–bank–account–must–be–a–New–Zealand–bank–account–held–in–your–name–or–jointly–held–in–your–name.–If–the–investment–is–held–on–behalf–of–a–trust–or–by–multiple–customers,–the–nominated–bank–account–must–be–held–in–the–name–of–all–owners,–the–trust–or–as–you–have–indicated–in–this–application.–Please–attach–an–original–pre-printed–deposit–slip–or–a–certified–copy–of–a–bank–statement–showing–your–name–and–account–number–(which–must–be–no–more–than–6–months–old).

(f) Telephone Transaction Service (TTS) – for individual and joint investors only

If–you–would–like–to–have–access–to–TTS,–please–tick–the–box–below:

I–/We–wish–to–have–access–to–the–TTS.–In–doing–so,–I/we–agree–to–the–terms–and–conditions–of–that–service–as–set–out–in–the–Investment–Statement–and–section–(i)–of–this–application–form.–If–investments–are–jointly–held,–we–agree–that–one–client–can–authorise–any–part–of–that–service–without–reference–to–the–other.

Please–provide–a–secret–question–and–answer–that–only–you–know–to–help–us–identify–you–when–using–TTS.

Question:

Answer:

(g) Cash Management Account (CMA) - Skip this section if you're only invested in Select or Dynamic Markets

Please–tick–if–you–want–to–maintain–an–additional–balance–in–your–CMA–over–and–above–the–required–minimum:

I/we–want–to–maintain–an–additional–balance–of: $ or %–of–initial–lump–sum–investment

For–more–information–on–the–CMA–minimum–account–balances–see–section–‘Managing–your–cash’–on–page–16

Investment of money above the CMA minimum (select one)

Automatically–invest–any–additional–money–as–per–my/our–latest–investment–profile.

Retain–all–money–in–the–CMA–over–the–minimum.

(h) Regular withdrawal

Please–tell–us–if–you’d–like–to–set–up–a–regular–withdrawal–from–your–investment.

$

Regular–withdrawals–will–be–paid–monthly–from–the–CMA–to–your–nominated–bank–account–(you–can–give–us–your–nominated–bank–account–in–section–(e)–of–this–application–form)*.

*as–per–liquidity–order

(minimum–$250)

6–of–9

(i) Acknowledgements

Cash Management Account (CMA)

All–money–received–by–or–paid–to–PUT–investors–will–pass–through–a–bank–account–called–the–Cash–Management–Account.–This–bank–account–is–an–on-call–debt–security–issued–by–a–registered–bank–and–held–in–trust–for–investors–by–The–New–Zealand–Guardian–Trust–Company–Limited.––The–New–Zealand–Guardian–Trust–Company–Limited–has–appointed–AMP–to–administer–and–manage–the–Cash–Management–Account.

Once–AMP–has–identified–the–investment–made–by–you–in–the–AMP–Investments–Subscription–Account,–your–initial–payment–and–any–subsequent–lump–sums–and–regular–payments–you–make–will–be–deposited–into–your–CMA–for–you,–from–which–Fund–investments–are–made.–Lump–sum–and–regular–withdrawals–are–paid–by–AMP–from–your–CMA–to–the–AMP–Investments–Subscription–Account–and–then–to–you–by–AMP.–The–money–in–your–CMA–will–attract–interest–for–you–from–time–to–time.

I/We–appoint–AMP–as–my/our–agent–to–undertake–the–administration–and–management–of–my–CMA–on–my/our–behalf.–I/We–acknowledge–and–agree–that–The–New–Zealand–Guardian–Trust–Company–Limited–is–entitled–to–act–on–the–instructions–of–AMP–in–respect–of–my–CMA–at–all–times.

I/We–acknowledge–that:

-– I/We–may–be–required–by–AMP–to–keep–a–minimum–balance–in–my–CMA–to–fund–regular–withdrawals–and–fees.–If–the–balance–falls–below–one–quarter–of–the–minimum–balance–my/our–holdings–in–PUT–funds–will–be–automatically–sold–down–as–required–to–return–my–CMA–balance–to–the–minimum–balance.–Investments–will–be–sold–down–in–accordance–with–sections–(c)–and–(d)–of–the–application–form–or–as–subsequently–notified–from–time–to–time–to–AMP–in–writing.–PIE–tax–may–be–deducted–when–the–units–are–sold–down.

-– the–entry–fee–component–(if–any)–of–my/our–investment–into–PUT,–will–be–paid–from–my–CMA,–after–deduction–from–PUT–(as–applicable).

-– if–I/we–have–selected–automatic–investment–then–any–amounts–in–my–CMA–over–the–minimum–balance–will–be–automatically–invested–in–accordance–with–my/our–investment–profile.

-– AMP–may–be–paid–brokerage/commission–by–any–bank–holding–all–or–part–of–the–Cash–Management–Account–bank–account–for–the–placement–of–bank–deposits.–Any–payments–received–will–help–cover–the–expenses–of–the–administration–of–that–bank–account–by–AMP.

-– AMP–may–deduct–and–receive–a–fee–margin–from–any–interest–earned–on–the–balance–of–my–CMA.

I/We–authorise–any:

-– portfolio–servicing–fee–and–advice–fee,–payable–to–my/our–adviser,–as–notified–in–writing–from–time–to–time–to–AMP,–to–be–deducted–from–my–CMA

-– monthly–administration–fee–to–be–deducted–from–my–CMA–(where–applicable).

I/We–authorise–any–future–applicable:

-– fees–due–to–any–manager,–custodian,–trustee–or–other–individuals

-– tax,–duties–and–levies–(including–penalties–and–interest)–or–bank–charges–to–be–deducted–from–the–Cash–Management–Account–bank–account–on–the–understanding–that–these–fees–and–charges–will–be–fully–disclosed–in–my/our–customer–statement.

I/We–acknowledge–that–The–New–Zealand–Guardian–Trust–Company–Limited–(in–opening)–and–AMP–(in–administering–and–managing–the–Cash–Management–Account–bank–account)–are–acting–on–my/our–behalf–and–not–in–a–personal–capacity–and–do–not–have–any–personal–liability.–The–New–Zealand–Guardian–Trust–Company–Limited–is–entitled–to–be–indemnified–out–of–my–CMA–for–any–liability–it–incurs–in–relation–to–my/our–involvement–in–my–CMA,–other–than–liabilities–arising–out–of–its–wilful–default–or–wilful–breach–of–trust.

Your investment decision

1.– I/We–have–received,–read–and–understood–the–Investment–Statement–for–the–AMP–Premium–Investments–Personal–Unit–Trust–dated––1–December–2015.

2.– I–acknowledge–that–I–have–rights–of–access–to,–and–correction–of,–the–information–held–by–or–on–behalf–of–AMP–or–the–Trustee–of–PUT–subject–to–the–provisions–of–the–Privacy–Act–1993–and–amending–legislation.–I–understand–that–the–information–supplied–by–me–with–this–application–will–be–used–to–verify–my–identity,–process–this–application–and–to–administer–my–investment–in–PUT–(and–may–be–disclosed–for–these–purposes–to–third–parties–where–relevant,–my–Adviser–or–another–intermediary–or–distributor).–The–information–may–also–be–used–by–AMP–or–third–parties–to–offer–me–other–products–or–services–made–available–by–the–AMP–group,–and–for–market–research–purposes.

3.– I–consent–to–receiving–electronic–messages–and–information–regarding–PUT–or–any–other–products,–services–or–promotions–offered–by–AMP–(or–related–companies–of–AMP)–and–I–agree,–pursuant–to–the–Unsolicited–Electronic–Messages–Act–2007,–that–the–person–sending–any–such–message–need–not–include–a–functional–unsubscribe–facility–in–the–message.–

4.– I/We–acknowledge–applications–for–investment–by–minors–(i.e.–investors–who–are–less–than–18–years–of–age)–will–be–recorded–in–the–name–of–the–minor.–I/We–acknowledge–I/we–shall–be–entitled–to–instruct–over–the–minor’s–investment–until–the–minor–turns–18,–at–which–time–such–right–shall–transfer–to–the–minor–and–the–minor–shall–have–full–capacity–to–instruct–over–their–investment–and–my/our–right–shall–cease.

5.– I–understand–that–none–of–the–Trustee,–AMP,–or–any–related–company–of–the–Trustee–or–AMP–(including–AMP–Services),–their–directors–or–any–other–person–guarantees–the–performance–of–PUT–or–the–funds.

6.– I–acknowledge–that:

a.– choosing–an–investment–fund–(or–funds)–is–my–responsibility–and–that–neither–AMP–nor–the–Trustee–is–to–be–regarded–as–representing–or–implying–that–my–chosen–investment–fund–or–funds–is–appropriate–for–my–personal–circumstance;

b.– my–choice–of–investment–fund–or–funds–will–be–a–binding–direction–from–me–to–AMP.

7.– I–appoint–AMP–or–its–agent–as–my–agent–to–sign–and–complete–on–my–behalf–an–application–form–for–any–units–which–are–to–be–issued–to–me–as–a–result–of–any–regular–payments,–switch–or–distribution–reinvestment.–Funds–received–for–PUT–are–deposited–into–a–separate–bank–account–held–by–AMP–(AMP–Investments–Subscription–Account)–as–required–by–the–Unit–Trusts–Act–1960.–I–acknowledge–that–this–banking–does–not–constitute–acceptance–of–my–application.–I–acknowledge–that–if–my–application–is–not–accepted–my–investment–will–be–refunded–in–full.

7–of–9

Telephone Transaction Service (TTS)

By using TTS, you:

1.– Release,–discharge–and–agree–to–indemnify–AMP–and–The–New–Zealand–Guardian–Trust–Company–Limited–from–and–against–all–actions,––claims–and–liabilities–arising–from–or–in–relation–to–telephone–instructions

2.– Agree–that–should–you,–or–any–other–person–claiming–to–be–you,–act–fraudulently,–AMP–and–its–subsidiaries–are–not–liable–for–following–those–instructions,–and

3.– Agree–that–for–joint–investors,–AMP–can–accept–instructions–from–either–party,–without–reference–to–the–other.–

Special conditions of transactions made using TTS:

1.– Your–regular–payments–can–only–be–redirected–between–funds–to–which–you–are–already–contributing.

2.– Your–units–can–only–be–switched–between–funds–in–which–units–are–already–held–and–can–be–moved–between–funds–within–PUT.

3.– Telephone–transactions–can–carry–a–risk–of–misunderstanding–or–argument–about–what–was,–and–was–not,–authorised–by–a–client.–If–you–give–us–instructions–over–the–phone,–we–may–record–them.–Any–record–we–make–is–conclusive–proof–of–your–instructions

4.– We–are–not–bound–to–accept–instructions–unless–we–have–verified–your–identity–to–our–satisfaction.–We–may–take–that–verification–as–conclusive–proof–of–your–identity,–but–are–not–liable–for–refusing–to–accept–any–instruction,–nor–for–good–faith–acceptance–of–any–instruction–believed–on–reasonable–grounds–to–have–been–appropriately–authorised–(whether–or–not–it–was–so–authorised).

5.– In–signing–up–to–the–TTS–you–automatically–permit–your–Adviser–to–perform–a–number–of–transactions–on–your–behalf–as–set–out–in–the–investment–statement.

Signature(s)

Principal client Date

SIGN–HERED D M M Y Y Y Y

Second client Date


Or,–if–the–applicant–is–under–the–age–of–18,–the–applicant's–parent(s)–or–guardian(s)–must–confirm–the–following–statement–and–sign–below:

I–confirm–that–I–am–(or–that–each–of–us–is)–a–legal–guardian–of–the–applicant–named–in–Section–(a)–and–have–read–and–accepted–the–'Acknowledgements'–in

Section–(i)–on–behalf–of–the–applicant.

Name of parent/guardian

Signature of parent/guardian Date


Name of parent/guardian

Signature of parent/guardian Date


8–of–9

If–the–applicant–is–under–the–age–of–18,–please–make–sure–you–also–complete–the–form–entitled–'identity–verification–form–-–acting–on–behalf–of'–available–from–the–find–a–form–section–of–amp.co.nz–or–your–Adviser.

We–may–contact–you–for–additional–information–to–complete–applications–for–applicants–under–the–age–of–18.–

( j) Client identification and verification requirements - Adviser use only

We–are–required–by–the–Anti-Money–Laundering–and–Countering–Financing–of–Terrorism–Act–2009–to–confirm–and–verify–details–about–our–customers.

If–the–client–is–an:

Individual:–please–complete–the–attached–Identification–and–Verification–Form–––Individual–immediately–following–this–application–form.–(Note:–each–joint–client–will–need–to–complete–a–separate–form)

Partnership, Company or Trust:–please–complete–the–appropriate–Identification–and–Verification–Form–available–from–the–product–information–and–forms–page–of–amp.co.nz–or–your–Adviser.

Please–attach–the–completed–Identity–and–Verification–Form/s–along–with–copies–of–the–identity–documents–listed–in–those–form/s.

(k) Adviser providing advice

Adviser–name–(if–applicable)

Adviser–number

FSPN–(use–your–QFE’s–FSPN–if–you–are–a–QFE–adviser)

I–confirm–that–I–am–a:

AFA–entitled–to–sell–Category–1–Product AMP–QFE–Category–1–Adviser Other

and–I–certify–the–information–provided–in–this–Adviser–Information–section–is–correct–and–that–I–have–complied–with–the–requirements–of–the–Financial–Advisers–Act–2008–and–all–other–applicable–laws.

Signature of Adviser Date


Checklist:

Please check you have completed the form correctly*

Have–you–completed–all–fields–with–an–*?

Have–you–completed–the–relevant–identity–and–verification–form?

Have–you–attached–copies–of–the–supporting–evidence–to–verify–your–identity?

Have–your–identity–documents–been–verified–and–has–the–declaration–been–completed–by–an–Adviser,–or–certified–by–a–trusted–referee?

If–you’re–under–18,–have–your–parent(s)–or–your–legal–guardian(s)–signed–the–application–form?

Have–you–signed–and–dated–the–application–form?

9–of–9

1–of–2

Individual Identity verification form

Please–complete–option–1–in–the–table–below–and–attach–copies–of–the–requested–document–(please–tick–which–document–you–are–providing).–If–you–cannot–provide–a–document–from–option–1,–then–complete–option–2–or–3.

As–well–as–providing–your–identity–documents–you–must–also–supply–proof–of–your–address.–Tick–one–document–option–from–this–section.–The–document––you–supply–needs–to–be–addressed–to–you–at–the–home address–detailed–in–section–(a)–of–this–form–and–dated–within–the–last–6–months.

Letter–or–invoice–from–utility–company Bank–statement Letter–from–government–agency–(e.g.–Inland–Revenue,–rates–bill)

Proof of address

Option 3: – –––18+–identity–card–PLUS–(ONE–of–the–documents–from–this–section)–

NZ–full–birth–certificate/Birth–certificate–issued–by–foreign–government

NZ–citizenship–certificate/Citizenship–certificate–issued–by–foreign–government

Option 2:–– –––NZ–Driver’s–Licence–PLUS–(ONE–of–the–of–the–documents–from–this–section)

Super–Gold–card NZ–Full–birth–certificate/Birth–certificate–issued–by–foreign–government


Bank–statement–or–IRD–statement–issued–in–your–name–in–the–last–6–months

Option 1:– ONE–document–from–this–section–

NZ–passport–(Identity–page) NZ–firearms–licence

Overseas–passport–(Identity–page)– NZ–certificate–of–Identity

b) Provide your identification to verify your identity and address

(A separate form must be completed for each individual)

Please–note–that–anyone–acting–on–your–behalf–(e.g.–under–Power–of–Attorney)–must–complete–a–separate–‘Acting on behalf of’–identity–verification–form.

a) Your Personal details

Title–– Surname–

–Mr–– –Mrs–– –Ms–– –Miss–– –Dr–– –Other–

Given–name(s)– Date–of–birth

–––––––––––––––––––––––––––––D D M M Y Y Y Y

Home–Address

2–of–2

IMPORTANT: If–you–are–providing–previously–certified–identity–documents,–please–ensure–the–documents–have–been–certified–not–more–than–3–months–prior.–Please–attach–only–the–certified–photocopies–of–the–original–documents–to–this–form.

Your–identity–and–address–documents–can–be: Certified–by–a–trusted–referee–(use–the–first–box–below),–or–verified–by–an–Adviser/AMP–employee–acting–as–agent–of–AMP–(use–the–second–box–below).

DECLARATION BY TRUSTED REFEREE

I,– – – – – – – ––––––confirm–that

1.– I–have–sighted–today–the–original–of–each–document–identified–with–a–tick–in–section–(b)–verifying–the–identity–and–address–of–the–person–named–in–section–(a)–of–this–form,–and–attached–to–this–statement–are–true–copies–of–those–documents–initialled–and–dated–by–me.

2.– The–documents–that–have–been–provided–represent–the–identity–of–the–person–named–in–section–(a)–of–this–form.

3.– I–am–a–(tick one of the following)

4.– I–am–not–related–to–and–do–not–live–at–the–same–address–as–the–person–named–in–section–(a)–of–this–form.

DECLARATION BY ADVISER/AMP EMPLOYEE (AS AGENT OF AMP)

I,– – – – – – – – – – – –––––––––––––––––––confirm–that

1.– I–have–sighted–today–the–original–of–each–document–identified–with–a–tick–in–the–section–(b)–verifying–the–identity–and–address–of–the–person–named–in–section–(a)–of–this–form,–and–attached–to–this–statement,–are–true–copies–of–those–documents–initialled–and–dated–by–me.

2.– I–have–no–reason–to–believe–that–this–person–is–not–who–he/she–claims–to–be.

3.– AMP–has–authorised–me–to–be–its–agent–to–conduct–customer–due–diligence–procedures–and–obtain–any–information–required–for–customer–due–diligence–under–the–Anti-Money–Laundering–and–Countering–Financing–of–Terrorism–Act–2009–and–I–acknowledge–that–AMP–is–relying–on–me–to–perform–those–functions–for–it.–

Dated–

Dated

Signature of trusted referee

Signature of Adviser/AMP Employee

FULL NAME OF TRUSTED REFEREE

FULL NAME OF ADVISER/AMP EMPLOYEE ADVISER CODE (if applicable)

SIGN HERE

SIGN HERE

D D M M 2 0 Y Y

D D M M 2 0 Y Y

New–Zealand–lawyer Justice–of–the–Peace Notary–public Registered–medical–doctor–––

Chartered–accountant Police–constable Registered–teacher– Kaumātua

Member–of–Parliament Minister–of–religion Commonwealth–representative NZ–Honorary–Consul

OR

c) Certify or verify your identity and address documents

1–of–2

Individual Identity verification form

Please–complete–option–1–in–the–table–below–and–attach–copies–of–the–requested–document–(please–tick–which–document–you–are–providing).–If–you–cannot–provide–a–document–from–option–1,–then–complete–option–2–or–3.

As–well–as–providing–your–identity–documents–you–must–also–supply–proof–of–your–address.–Tick–one–document–option–from–this–section.–The–document––you–supply–needs–to–be–addressed–to–you–at–the–home address–detailed–in–section–(a)–of–this–form–and–dated–within–the–last–6–months.

Letter–or–invoice–from–utility–company Bank–statement Letter–from–government–agency–(e.g.–Inland–Revenue,–rates–bill)

Proof of address

Option 3: – –––18+–identity–card–PLUS–(ONE–of–the–documents–from–this–section)–

NZ–full–birth–certificate/Birth–certificate–issued–by–foreign–government


Option 2:–– –––NZ–Driver’s–Licence–PLUS–(ONE–of–the–of–the–documents–from–this–section)

Super–Gold–card NZ–Full–birth–certificate/Birth–certificate–issued–by–foreign–government


Bank–statement–or–IRD–statement–issued–in–your–name–in–the–last–6–months

Option 1:– ONE–document–from–this–section–

NZ–passport–(Identity–page) NZ–firearms–licence

Overseas–passport–(Identity–page)– NZ–certificate–of–Identity

b) Provide your identification to verify your identity and address

(A separate form must be completed for each individual)

Please–note–that–anyone–acting–on–your–behalf–(e.g.–under–Power–of–Attorney)–must–complete–a–separate–‘Acting on behalf of’–identity–verification–form.

a) Your Personal details

Title–– Surname–

–Mr–– –Mrs–– –Ms–– –Miss–– –Dr–– –Other–

Given–name(s)– Date–of–birth

–––––––––––––––––––––––––––––D D M M Y Y Y Y

Home–Address

2–of–2

IMPORTANT: If–you–are–providing–previously–certified–identity–documents,–please–ensure–the–documents–have–been–certified–not–more–than–3–months–prior.–Please–attach–only–the–certified–photocopies–of–the–original–documents–to–this–form.

Your–identity–and–address–documents–can–be: Certified–by–a–trusted–referee–(use–the–first–box–below),–or–verified–by–an–Adviser/AMP–employee–acting–as–agent–of–AMP–(use–the–second–box–below).

DECLARATION BY TRUSTED REFEREE

I,– – – – – – – ––––––confirm–that

1.– I–have–sighted–today–the–original–of–each–document–identified–with–a–tick–in–section–(b)–verifying–the–identity–and–address–of–the–person–named–in–section–(a)–of–this–form,–and–attached–to–this–statement–are–true–copies–of–those–documents–initialled–and–dated–by–me.

2.– The–documents–that–have–been–provided–represent–the–identity–of–the–person–named–in–section–(a)–of–this–form.

3.– I–am–a–(tick one of the following)

4.– I–am–not–related–to–and–do–not–live–at–the–same–address–as–the–person–named–in–section–(a)–of–this–form.

DECLARATION BY ADVISER/AMP EMPLOYEE (AS AGENT OF AMP)

I,– – – – – – – – – – – –––––––––––––––––––confirm–that

1.– I–have–sighted–today–the–original–of–each–document–identified–with–a–tick–in–the–section–(b)–verifying–the–identity–and–address–of–the–person–named–in–section–(a)–of–this–form,–and–attached–to–this–statement,–are–true–copies–of–those–documents–initialled–and–dated–by–me.

2.– I–have–no–reason–to–believe–that–this–person–is–not–who–he/she–claims–to–be.

3.– AMP–has–authorised–me–to–be–its–agent–to–conduct–customer–due–diligence–procedures–and–obtain–any–information–required–for–customer–due–diligence–under–the–Anti-Money–Laundering–and–Countering–Financing–of–Terrorism–Act–2009–and–I–acknowledge–that–AMP–is–relying–on–me–to–perform–those–functions–for–it.–

Dated–

Dated

Signature of trusted referee

Signature of Adviser/AMP Employee

FULL NAME OF TRUSTED REFEREE

FULL NAME OF ADVISER/AMP EMPLOYEE ADVISER CODE (if applicable)

SIGN HERE

SIGN HERE

D D M M 2 0 Y Y

D D M M 2 0 Y Y

New–Zealand–lawyer Justice–of–the–Peace Notary–public Registered–medical–doctor–––

Chartered–accountant Police–constable Registered–teacher– Kaumātua

Member–of–Parliament Minister–of–religion Commonwealth–representative NZ–Honorary–Consul

OR

c) Certify or verify your identity and address documents

AMP Personal Unit Trust (PUT) Direct Debit Authority

Your personal details

Full–client–name

––––––––––––––––––––––Address–(if–your–address–has–changed–please–include–details–here)

Use this form to change your current direct debit arrangement for your regular payments. These contributions will then be automatically invested into your chosen investments.

Client–number

Payment instructions

Bank instructions (bank account holder(s) to complete)

To: The bank manager

Authorisation

Information to appear on my/our bank statement

Your signature(s) (bank account holder(s) to complete)

Name–(of–bank–account):

Bank

Town/city

Branch

Please–select–one:––(minimum $50 per payment per portfolio or $1,000 per payment per account)

I/We–authorise–you–until–further–notice,–to–debit–my/our–account–with–all–amounts–which–AMP–Services–(NZ)–Limited,–(hereinafter–referred–to–as–the–Initiator)–the–registered–Initiator–of–the–above–Authorisation–Code,–may–initiate–by–Direct–Debit.–I/We–acknowledge–and–accept–that–the–bank–accepts–this–authority–only–upon–the–conditions–listed–at–the–back–of–this–form.

Start–date:

D D– M M Y Y Y Y

Weekly

$

Fortnightly

$

Monthly

$

Four-weekly

$

Payer–particulars Payer–code–

Payer–reference

Bank–account–from–which–payments–to–be–made:

Please attach a pre-printed deposit slip or a copy of a bank statement showing your name and account number

Bank Branch Account Suffix

SIGN–HERE

SIGN–HERE

Date

Date

D D– M M Y Y Y Y

D D– M M Y Y Y Y

1 2 1 3 6 4 1Authorisation–code:

Authority–to–accept–Direct–Debit–(not–to–operate–as–an–assignment–or–agreement).

Daytime–Phone–Number–(mobile–or–work)

1–of–2

Please–send–this–form–to: AMP Services (NZ) Limited, PO Box 55, Shortland Street, Auckland 1140. Ph 0800 267 111.

a.– In–its–absolute–discretion–conclusively–determine–the–order–of–priority–of–payment–by–it–of–any–monies–pursuant–to–this–or–any–other–authority,–cheque–or–draft–properly–signed–by–me/us–and–given–to–or–drawn–on–the–Bank.

b.– At–any–time–terminate–this–authority–as–to–future–payments–by–notice–in–writing–to–me/us.

c.– Charge–its–current–fees–for–this–service–in–force–from–time-to-time.

Conditions

1. The Initiator (AMP)

a.– At–any–time,–terminate–this–Authority–as–to–future–payments–by–giving–written–notice–of–termination–to–the–Bank–and–to–the–Initiator–by–means–agreed–by–the–customer,–Bank–and–Initiator.

b.– Stop–payment–of–any–direct–debit–to–be–initiated–under–this–authority–by–the–Initiator–by–giving–written–notice–to–the–Bank–prior–to–the–direct–debit–being–paid–by–the–Bank.

c.– Where–a–variation–to–the–amount–agreed–between–the–Initiator–and–the–Customer–from–time–to–time–to–be–direct–debited–has–been–made–without–notice–being–given–in–terms–of–clause–1(a)–above,–request–the–Bank–to–reverse–or–alter–any–such–direct–debit–initiated–by–the–Initiator–by–debiting–the–amount–of–the–reversal–or–alteration–of–a–direct–debit–back–to–the–Initiator–through–the–Initiator’s–Bank,–PROVIDED–such–request–is–made–not–more–than–120–days–from–the–date–when–the–direct–debit–was–debited–to–my/our–account.

2. The Customer may:

a.– This–authority–will–remain–in–full–force–and–effect–in–respect–of–all–direct–debits–made–from–my/our–account–in–good–faith–notwithstanding–my/our–death,–bankruptcy–or–other–revocation–of–this–authority–until–actual–notice–of–such–event–is–received–by–the–Bank.

b.– In–any–event–this–authority–is–subject–to–any–arrangement–now–or–hereafter–existing–between–me/us–and–the–Bank–in–relation–to–my/our–account.

c.– Any–dispute–as–to–the–correctness–or–validity–of–an–amount–debited–to–my/our–account–shall–not–be–the–concern–of–the–Bank–except–in–so–far–as–the–direct–debit–has–not–been–paid–in–accordance–with–this–authority.–Any–other–disputes–lie–between–me/us–and–the–Initiator.

d.– Where–the–Bank–has–used–reasonable–care–and–skill–in–acting–in–accordance–with–this–authority,–the–Bank–accepts–no–responsibility–or–liability–in–respect–of:–-–the–accuracy–of–information–about–Direct–Debits–on–Bank–statements–-–any–variations–between–notices–given–by–the–Initiator–and–the–amounts–of–Direct–Debits.

e.– The–Bank–is–not–responsible–for,–or–under–any–liability–in–respect–of–the–Initiator’s–failure–to–give–notice–in–accordance–with–1(a)–nor–for–the–non-receipt–or–late–receipt–of–notice–by–me/us–for–any–reason–whatsoever.–In–any–such–situation–the–dispute–lies–between–me/us–and–the–Initiator.

f.– Notice–given–by–the–Initiator–in–terms–of–clause–1(a)–to–the–debtor–responsible–for–the–payment–shall–be–effective.–Any–communication–necessary–because–the–debtor–responsible–for–payment–is–a–person–other–than–me/us–is–a–matter–between–me/us–and–the–debtor–concerned.

3. The Customer acknowledges that:

4. The Bank may:

For bank use only

Approved1364

11 2012

Original–––retain–at–branch

Checked–by:

Recorded–by:Date–received:

D D– M M Y Y Y Y

Bank–stamp

a.– Undertakes–to–give–Notice–to–the–Acceptor–of–the–commencement–date,–frequency–and–amount–at least 10 calendar days–before–the–first–direct–debit–is–drawn–(but–not–more–than–2–calendar–months).–This–notice–will–be–provided–in–writing–(including–by–electronic–means–and–SMS–where–the–Customer–has–provided–prior–written–consent–(by–electronic–means–including–SMS)–to–communicate–electronically).–Where–the–Direct–Debit–system–is–used–for–the–collection–of–payments–which–are–regular–as–to–frequency–but–variable–as–to–amounts,–the–Initiator–undertakes–to–provide–the–Acceptor–with–a–schedule–detailing–each–payment–amount–and–each–payment–date.–In–the–event–of–any–subsequent–change–to–the–frequency–or–amount–of–the–direct–debits,–the–Initiator–has–agreed–to–give–advance–notice–at least 30 days before–the–change–comes–into–effect.–This–notice–must–be–provided–in–writing–(including–by–electronic–means–and–SMS–where–the–Customer–has–provided–prior–written–consent–including–(including–by–electronic–means–including–SMS)–to–communicate–electronically).

b.– May,–upon–the–relationship–which–gave–rise–to–this–Authority–being–terminated,–give–notice–to–the–Bank–that–no–further–Direct–Debits–are–to–be–initiated–under–the–Authority.–Upon–receipt–of–such–notice–the–Bank–may–terminate–this–Authority–as–to–future–payments–by–notice–in–writing–to–me/us.

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