New Zealand
Endeavour Fund

An independent review by our team of experts

The New Zealand Endeavour Fund is a New Zealand QROPS open to non-NZ residents. It is registered with New Zealand's Financial Markets Authority.

New Zealand is ranked as one of the least corrupt jurisdictions on the Corruption Perception Index, and is therefore seen by many as a jurisdiction with strong investor protections.

Whilst the firm maintains that it is ‘business as usual’ for existing members, as of 1^st December 2016 the scheme was closed to new members.

While there seems to be very little information about it ever since, Garrison Bridge says on it's website that they have assumed management responsibility for the New Zealand Endeavour Fund.

The NZ Endeavour Fund changed to Garrison Bridge Superannuation Scheme on the 1st of April, 2019.

Previously, you could select from the following range of portfolios from TAM Asset Management (an FCA regulated discretionary fund manager):

TAM “Premier” GBP Liquidity Plus (Cash Fund)
TAM “Premier” GBP Cautious
TAM “Premier” GBP Balanced
TAM “Premier” GBP Growth
TAM “Premier” GBP Adventurous Growth

Additional investment options are now available under the new scheme through investment managers like:

TAM Asset Management Limited
Vanguard Investments Australia Limited
BlackRock Asset Management Ireland
Limited
Simplicity NZ Limited

These additional options include:

GBP Conservative Fund:
Great British pound denominated fund employing a passive management strategy invested 80% in income assets (international fixed interest), with a 20% exposure to growth assets (international equities).
GBP Growth Fund:
Great British pound denominated fund employing a passive management strategy invested 80% in growth assets (international equities), with a 20% exposure to income assets (international fixed interest).
AUD Balanced Fund:
Australian dollar denominated fund employing a passive management strategy invested 80% in income assets (New Zealand fixed interest), with a 20% exposure to growth assets (New Zealand equities).
NZD Conservative Fund:
New Zealand dollar denominated fund employing a passive management strategy invested 80% in income assets (New Zealand fixed interest), with a 20% exposure to growth assets (New Zealand equities).
NZD Growth Fund:
New Zealand dollar denominated fund employing a passive management strategy invested 80% in growth assets (New Zealand equities), with a 20% exposure to income assets (New Zealand fixed interest).

While the document below has the new scheme's fee information and charges, we are unsure about validity of the information and would recommend contacting them directly to learn more.

NOTE:

We would highly recommend reading the 'expert verdict' section of this independent review.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

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Why you should accept the markets for what they are
What can impact behaviour and make people seek instant gratification

The Pros

> Investment options via a FCA regulated discretionary fund managers.

The Cons

> Very little information about their offerings are available.

Who was managing the old scheme?

The New Zealand Endeavour Fund was managed by Endeavour Fund Trustees Limited and is now managed by Lifetime Asset Management Limited.

Can I still view balances etc. using the online portal with the new scheme?

Yes, the new portal still allows you to view balances, investment performance and make account changes.

Expert assessment of New Zealand Endeavour

In our opinion, the main disadvantage is that, as current UK legislation stands, Endeavour may not offer flexi-access drawdown as it remains subject to the "70%" rule.

Endeavour has recently reached an agreement with Elmo Pensions in Malta and London, and Colonial Simple SIPP to allow transfers to Malta and the UK.

Our opinion is that Endeavour is not a viable option and there are far better and more flexible alternatives.

Read the UK regulator’s advice on pension transfers here.

Never deal with a firm that isn’t authorised as a UK pension transfer specialist.

If your pension is currently held by Endeavour we recommend that you seek an update on your options from a suitably qualified, fee-based pension adviser.

For pensions worth £500,000 or more, we recommend contacting us for a Second Opinion.

The information in this material is intended for the recipient’s background information and use only. It is provided in good faith and without any warranty or, representation as to accuracy or completeness. Information and opinions presented in this material have been obtained or derived from sources believed by AES to be reliable and AES has reasonable grounds to believe that all factual information herein is true as at the date of issue. It does not constitute investment advice, recommendation, or an offer of any services or products for sale and is not intended to provide a sufficient basis on which to make an investment decision. It is the responsibility of any persons wishing to make a purchase to inform themselves of and observe all applicable laws and regulations. Unauthorised reproduction or transmitting of this material is strictly prohibited. AES accepts no responsibility for loss arising from the use of the information contained herein.

‘AES’ refers to the AES Group’s separate but affiliated entities generally, rather than to one particular entity. These entities are AES Middle East Insurance Broker LLC registered with the UAE Ministry of Economy, United Arab Emirates, Licence no. 571368, and Commercial Registration no. 75162 and regulated by the UAE Central Bank license no. 189; AES Financial Services Limited, incorporated and registered in England and Wales with company number 06063185, authorised and regulated by the UK Financial Conduct Authority FRN: 464494; AES Financial Services (DIFC) Ltd, registered in the Dubai Financial Centre (DIFC) as a foreign company, license no.2128, and regulated by the Dubai Financial Services Authority (DFSA) Reference No F003476; AES International Limited, a private company incorporated and registered in the British Virgin Islands with company number 1839872; AES International Global Limited, a private company incorporated and registered in the British Virgin Islands with company number 1887885. Please visit our authorisations page for further information on regulation, redress and accessibility.

If you are outside the UK and we advise you or carry out other business, nearly all the rules, regulations and arrangements made under the UK regulatory regime (including the rules made by the FCA and the dispute resolution process provided by the UK Financial Ombudsman Service) will not apply to most aspects of the service you receive, such advice or business being provided from outside the UK. You should therefore clearly understand such rights and protection as are afforded in the jurisdiction where you receive advice. Local law, regulation and redress processes will apply in almost all cases, and will be different from that of the UK.

RISKS

Investments involve risks. The investment return and principal value of an investment may fluctuate so that an investment, when redeemed, may be worth more or less than the capital invested. Past performance is not a guarantee of future results. There is no guarantee strategies will be successful. For further information, please click here.

New Zealand
Endeavour Fund

An independent review by our team of experts

REVIEW SUMMARY