The National Bank Call Fund has been designed for customers who want tax effective, competitive returns and easy access to their investment.

• It's a Portfolio Investment Entity (PIE), so tax is paid at your elected Prescribed Investor Rate to a maximum of 28%*. This means tax on your income from the Fund can be lower than bank deposits.
• You can access your investment via Online Banking,** over the phone or at any National Bank branch.
• Integrated with the systems used to access everyday bank accounts, Term Deposits and investments if you are a National Bank customer.
• You pay no entry or exit fees.
• Your investment earns the same return on every dollar, with one flat rate.
• The minimum initial investment is only $1.00 then you can make regular contributions or invest additional lump sums.
• Income is distributed quarterly.
• The Fund invests in call deposits with ANZ National Bank Limited.
• National Bank Term Fund - a tax effective PIE with competitive fixed returns.

*The taxation treatment of Portfolio Investment Entities is covered in the Investment Statement (PDF 138KB).

**A transactional account with The National Bank is required for access via Online Banking.

This information is intended to get you thinking about your investment goals. It is not intended as investment advice tailored to your personal financial circumstances. Before making investment decisions, you should consider your individual circumstances and seek assistance from other resources, for example financial planning services.

A copy of our National Bank Call Fund Investment Statement is available as a PDF, or you can request one to be sent to you by calling us on
0800 18 18 18.

You'll need Adobe Acrobat Reader to read the PDF version. If you don't have it, don't worry - it's free. Just follow this link to the Adobe site to download a copy.

ANZ Investment Services (New Zealand) Limited ("ANZIS") is the issuer and manager of The ANZ Call Fund, marketed as "The National Bank Call Fund". The New Zealand Guardian Trust Company Limited ("NZGT") is the Trustee of The National Bank Call Fund. The National Bank, part of ANZ National Bank Limited ("ANZNB") is the distributor of units in The National Bank Call Fund.

Units in The National Bank Call Fund do not represent deposits or other liabilities of ANZNB. Units are subject to investment risk, including possible delays in repayment and loss of income and principal invested.

No entity* guarantees (either partially or fully) the capital value or performance of any products issued or managed by ANZIS, including The National Bank Call Fund.

*This includes ANZIS, ANZNB, Australia and New Zealand Banking Group Limited, NZGT, any member of their respective groups of companies, their respective directors and any other person.

Our Reserve Bank Disclosure Statement is available on this website or a request for a copy can be made at any branch.

The National Bank Call fund is a tax effective PIE with competitive returns and easy access to your money.

What is a Portfolio Investment Entity?

A Portfolio Investment Entity (PIE) is a managed fund that has tax benefits for certain investors. Certain managed funds (like the National Bank Call Fund) can apply to become a PIE and apply the tax benefits.

To explain the benefits of PIEs, let's look at managed funds before and after PIEs.

Before PIEs

• All managed funds had to pay tax on both income and capital gains at a flat rate of 33%. So even if your personal tax rate was 17.5%, you had to pay 33% tax on your managed fund investment.

After PIEs

• PIEs pay no tax on capital gains on all New Zealand and most Australian listed investments.
• Income earned by individual investors from a PIE is taxed at 10.5%, 17.5% or 28%, depending on each investor's own circumstances.
• Tax on PIE income is capped at 28%, which directly benefits investors on a personal tax rate of 30% or 33%.

For most people, this means paying less tax on an investment in a PIE, which means a better overall return - and more money in your pocket.

An example of how you could benefit from investing in a PIE.

Hamish earns a salary of $95,000 a year and pays income tax at 33%. He also has $100,000 invested in a bank account paying 4.00% p.a., which earns interest of $2,680 after tax ($4,000 interest less $1,320 RWT = $2,680). If Hamish moved his investment from the bank account to the National Bank Call Fund, paying 4% p.a., the tax on the income from the $100,000 invested would be capped at 28%, and there would be no further tax payable on this income. This increases his net return to $2,880 a year ($4,000 interest less $1,120 PIE tax = $2,880). To achieve a similar return by investing in a bank account, Hamish would have to invest in a bank account paying 4.52% p.a. interest.

What tax rate applies to your investment?

Your investment in the National Bank Call Fund is taxed according to your Prescribed Investor Rate (PIR). The PIR can be 0% for charities, trusts or companies and for individual New Zealand residents will be either 10.5%, 17.5% or 28%. Trusts can also choose between PIRs of 17.5% and 28% if they wish. The PIR information at Inland Revenue can help you to determine your PIR. The information detailed above does not constitute tax advice. If in doubt, prospective investors should seek their own independent tax advice on their applicable PIR.

The taxation treatment of Portfolio Investment Entities is covered in the National Bank Call Fund Investment Statement.

A copy of the Bank's Disclosure Statement under the Reserve Bank of New Zealand Act 1989 is available on this website or on request from any National Bank branch, free of charge.

National Bank Call fund rates

The current rate of return for an investment in the National Bank Call fund is
3.00% p.a.

The rate of return is subject to change, calculated daily and paid quarterly.

There are no fees for the National Bank Call Fund.

Read the National Bank Call Fund Investment Statement (PDF 138KB) and come in to any branch of The National Bank.

You'll need Adobe Acrobat Reader to read the PDF version. If you don't have it, don't worry - it's free. Just follow this link to the Adobe site to download a copy.

ANZ Investment Services (New Zealand) Limited ("ANZIS") is the issuer and manager of The ANZ Call Fund, marketed as "The National Bank Call Fund". The New Zealand Guardian Trust Company Limited ("NZGT") is the Trustee of The National Bank Call Fund. The National Bank, part of ANZ National Bank Limited ("ANZNB") is the distributor of units in The National Bank Call Fund.

Units in The National Bank Call Fund do not represent deposits or other liabilities of ANZNB. Units are subject to investment risk, including possible delays in repayment and loss of income and principal invested.

No entity* guarantees (either partially or fully) the capital value or performance of any products issued or managed by ANZIS, including The National Bank Call Fund.

*This includes ANZIS, ANZNB, Australia and New Zealand Banking Group Limited, NZGT, any member of their respective groups of companies, their respective directors and any other person.

Our Reserve Bank Disclosure Statement is available on this website or a request for a copy can be made at any branch.