Harbour granted a Managed Investment Scheme License

Harbour granted a Managed Investment Scheme License

Harbour Asset Management, the Wellington-based investment management company, today announced that is has been granted a Managed Investment Scheme (MIS) Licence by the Financial Markets Authority (FMA).

Jody Kaye, Harbour’s Chief Operating Officer and Head of Client Servicing said, “Harbour is proud to be the first established fund manager to be granted an MIS license.”

Under the Financial Markets Conduct Act managers of registered managed investment schemes, other than restricted schemes, are required to be licensed by the FMA under Part 6 of the Financial Markets Conduct Act 2013. From 30 January 2015, Harbour is licensed to provide the following market service:

Manager of a registered scheme (other than a restricted scheme)

Class of service; in respect of managed funds (including KiwiSaver, superannuation, workplace savings schemes).

Harbour became an early adopter of FMA regulation as we fully support the FMA’s mandate to promote and facilitate the development of fair, efficient and transparent financial markets.

Under the Financial Markets Conduct Act the manager of a registered managed investment scheme, other than a restricted scheme, must be licensed.

Mr Kaye said, “This license is the culmination of coordinated documentation of Harbour’s strong corporate governance and compliance, our experienced investment team, our robust investment process and our operational capability.

“We believe that this MIS license will provide our investors with further confidence that their money is being managed to best practice standards. While being granted a MIS license is a significant milestone for Harbour, we fully appreciate that this is just a step in our journey of regulatory compliance, and thank the FMA for their thorough and efficient assessment of our license application.”

ENDS

© Scoop Media