ASB KiwiSaver Scheme - Positive Impact Fund

The closure and wind-up of the Positive Impact Fund is now complete

On 15 January 2025, we closed and began winding-up the ASB KiwiSaver Scheme Positive Impact Fund.

If you only had an investment in the Positive Impact Fund and did not choose a new fund prior to 15 January 2025, your balance in the Positive Impact Fund, less any PIE tax owing, was transferred to the ASB KiwiSaver Scheme Balanced Fund, as that is the fund with the most similar asset allocation to the Positive Impact Fund.

If you were invested in multiple funds, and didn't choose a new fund prior to 15 January 2025 your balance in the Positive Impact Fund, less any PIE tax owing was transferred and allocated across your other ASB KiwiSaver Scheme funds in accordance with your investment strategy. Any future contributions we receive from 15 January 2025 will also be allocated to the other funds within your investment strategy.

The transfer of Positive Impact Fund balances was completed on or around 23 January 2025. You will be able to view this in your transaction list on ASB FastNet Classic or the ASB Mobile Banking app.

What do you need to do?

If you're comfortable with where the balance of the Positive Impact Fund was transferred to, you don't need to do anything. However, if you want to review your investment in the ASB KiwiSaver Scheme, you can choose the following actions.

Get advice: Get a recommendation for an alternative fund using our digital KiwiSaver calculator and advice tool. Alternatively, if you’d prefer to speak to someone, please call our KiwiSaver team on 0800 272 738 between 8am – 6.30pm, Monday – Friday, or between 9am – 5pm on a Saturday.

Get advice

Compare our ASB KiwiSaver Scheme funds: Visit our compare funds page to see if one of our other ASB KiwiSaver Scheme funds suits your needs.

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Frequently Asked Questions

We decided to close and wind-up the ASB KiwiSaver Scheme Positive Impact Fund following BlackRock (UK) announcing it will wind up its Global Impact Fund in January, which makes up more than half of the Positive Impact Fund's underlying investments.

We considered the future of the Positive Impact Fund in light of this development and its impact on the fund's management, alongside declining customer demand, and deemed it appropriate to wind-up the Positive Impact Fund.

Any amount switched will have had accrued PIE tax collected and paid to the Inland Revenue. We do this by selling units in the Positive Impact Fund. Normally the process of paying PIE tax occurs as at 31 March each year, however certain transactions like switching between funds and making a withdrawal from your investment are also transactions that require us to collect PIE tax and pay it to the Inland Revenue.

You can see the amount of PIE tax deducted in your transaction list on ASB FastNet Classic or the ASB Mobile Banking app.

The Positive Impact Fund has an impact objective and a conventional investment objective. While the other funds in the ASB KiwiSaver Scheme do not have an impact objective and are not a direct replacement, we continue to integrate responsible investment considerations into our investment decision-making process.

Except for the NZ Cash Fund, our ASB KiwiSaver Scheme funds are certified by the Responsible Investment Association of Australasia according to the operational and disclosure practices required under the Responsible Investment Certification Program (see www.responsiblereturns.com.au for details). We're committed to responsible investing and continuing to better understand the responsible investment needs of our customers. For more details, visit asb.co.nz/responsible-investment

Interests in the ASB KiwiSaver Scheme and ASB Investment Funds (Schemes) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides administration and distribution services for the Schemes. No person guarantees interests in the Schemes. Interests in the Schemes are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement or the ASB Investment Funds Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme).

ASB KiwiSaver Scheme Positive Impact Fund

The closure and wind-up of the Positive Impact Fund is now complete

What do you need to do?

Frequently Asked Questions

Why did ASB decide to close and wind-up the Positive Impact Fund?

Why wasn't my full balance in the Positive Impact Fund switched to my new fund(s)?

What if I want to change my ASB KiwiSaver Scheme fund?

Are there any other ASB KiwiSaver Scheme funds impacted by the closure and wind-up?

Does the ASB KiwiSaver Scheme have another fund option like the Positive Impact Fund?

Where can I get help choosing a new ASB KiwiSaver Scheme fund?