Maturity Information

Prior to maturity

We will write to you around one month before maturity with instructions.

TIP: Moved house? Make sure we have your new address.

Deadline

You must send in the maturity form before the deadline or your units will be automatically repurchased.

TIP: Don't miss the deadline, as we can't reverse a repurchase.

Maturity date

We process all the instructions by the maturity date.

TIP: Get the right tax advice. Fees are not refundable.

Payment advice

Soon after maturity we send a payment advice showing the final unit price.

TIP: Changed banks? Make sure we have your latest account details.

Payment date

Your money will be repaid to your bank account within 10 business days.

TIP: Payment can take two weeks to process, so factor this into any plans for the money.

Maturity FAQ


How do I find out when my fund is scheduled to mature?

The scheduled maturity date for your fund is printed on the original investment certificate sent to you when you first invested. Using this website, you can download the full maturity schedule or find the maturity date for all Liontamer funds on the main Funds page and on the information page for each individual fund.

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Will you contact me and let me know about my maturing fund?

Approximately four weeks prior to the scheduled maturity date, using the address held on record at our registry, Link Market Services, we will write to all investors with details of the maturity process. The letter will show your unit holding, the current indicative unit price and the deadline by which you need to get your instructions back to us. The letter will also contain a maturity form that should be completed and returned to us before the maturity deadline stated in the letter. 

Please note, as mail sometimes gets lost or misplaced, you should make a note of the maturity date for all the funds that you hold and contact us prior to maturity if you have not received a letter in the weeks immediately leading up to the scheduled maturity date.

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I’ve moved since I first invested with Liontamer, what do I need to do?

You should notify our registry provider, Link Market Services, any time you change address or may not be in a position to receive mail in the period leading up to the fund maturity i.e. if you will be overseas or in hospital for an extended time. You can download and complete a change of address form or you can update your address details immediately using Link’s Investor Centre.

Please note, it is the investor's responsibility to ensure that up-to-date and correct address details are held by Link Market Services to ensure you receive, and can respond to, these important maturity communications. If we do not receive your instructions before the maturity deadline, the default withdrawal method will mean that your units will be repurchased and this will incur a 2% fee.

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I haven’t received my maturity pack, what do I need to do?

You should contact your financial adviser if you have not received a maturity pack from Liontamer at least two weeks prior to the scheduled maturity date. Your adviser will be able to provide you with the relevant information, including a maturity form, and facilitate the maturity process for you. If you no longer have an adviser you can contact Liontamer at info@liontamer.com - remember to include your full name, unitholder number, fund details and your current postal address.

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How do I update my address or bank account details?

The Liontamer unit registry is maintained by Link Market Services. You are able to make changes to your address and bank account details online using the Investor Centre. This service provides you with convenient and secure access to your holdings and other useful account management tools enabling you to update your details anytime along with secure access to your transaction, payment and tax information online. If your fund is about to mature, please print out this form, scan it (PDF only) and email it to our Registrar, Link Market Services. Their address is: enquiries@linkmarketservices.co.nz. Alternatively you can post it to PO BOX 91976 Auckland 1142. Please bear in mind the proximity to the maturity date of the fund if you are posting this form. Change of bank account form

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What do I do once I get my maturity pack?

First check that all unitholder names and address details are correct. If something needs to be updated you can do this online using the Investor Centre. Next, complete the maturity form that was included with your maturity pack:

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Where do I send my maturity instructions once completed?

There are three methods of returning your completed maturity form to us, but our preferred option is for you to send a PDF of your completed maturity form to info@liontamer.com as this has proven to be the most efficient and reliable method.

PDF: Scan your completed form, save as a PDF, and email to info@liontamer.com. This is the most reliable method of ensuring we receive your form quickly.
Mail: Post your form to: Liontamer maturity, PO Box 2002, Shortland Street, Auckland, 1142. Please keep a copy and note the date sent. Use a fast post stamp as items from the South Island often take a week on standard mail. Please note this is not a recommended method close to the maturity date.
Fax: You can fax your completed maturity form to (09) 522 8841. Please note that fax machines are often unreliable and we recommend also emailing us to get confirmation that any faxes sent have been received.

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What happens if I don’t respond before the deadline?

It is important that you send in your instructions before the fund matures. If we do not receive your instructions, the default withdrawal method will mean that your units will be repurchased and this will incur a 2% non-refundable fee. Therefore, you should notify our registry provider, Link Market Services, any time you change address or may not be in a position to receive mail in the period leading up to the fund maturity i.e. if you will be overseas or in hospital for an extended time. Change of address forms can be downloaded here or you can update your address immediately at the Link Market Services Investor Centre.

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What is the difference between a repurchase and a redemption?

You have two choices when withdrawing your funds. You can sell your units back to Liontamer (called the repurchase method) or redeem them, which means the units are cancelled (called the redemption method). It is important you understand which option is best for you due to the different tax and fee consequences of each method.

Due to New Zealand securities laws, Liontamer is unable to provide advice on the appropriate method of withdrawal specific to your personal circumstances.  We strongly recommend that you consult your accountant or tax adviser to confirm the appropriateness of using either the repurchase or redemption method to withdraw your maturing units. 

Repurchase (default) option

Please note you will be charged a non-refundable 2% fee for Liontamer to repurchase your units at maturity.

If you are investing in your own capacity (i.e. not a trust or a trustee, company or other entity) and the original cost of your offshore portfolio is NZ$50,000 or less (excluding the cost of certain Australian listed investments and certain other investments) any gains you receive may not be subject to tax if you ask Liontamer to repurchase your units (depending on your individual circumstances). You should check with your tax adviser about whether this applies to you. In all other circumstances, how you are taxed on the amount you receive on repurchase will depend on how you elect to be taxed on your offshore portfolio under the Foreign Investment Fund (FIF) tax rules. Repurchase requests will be processed immediately prior to the maturity date and payment will be made within 10 business days of that date.

Redemption option

Please note there is no fee if you choose to redeem your units at maturity.

If you decide to redeem your units your tax position will depend on whether the FIF tax rules apply to you or not. You should check with your tax adviser about what rules apply to you. In general, if you are a natural person (not acting as a trustee) and the original cost of your offshore portfolio is NZ$50,000 or less (excluding the cost of certain Australian listed investments and certain other investments) you will be taxed on any amount you receive in excess of the subscription price of your units. The full excess (if any) will be treated as a taxable dividend. In all other circumstances, how you are taxed on the amount you receive on redemption will depend on how you elect to be taxed on your offshore portfolio under the FIF tax rules. Unitholders using the Fair Dividend Rate (FDR) method may be entitled to choose to pay tax on 5% of the market value of their portfolio (including the market value of their Liontamer units) at the beginning of the year. Liontamer has a determination from the Inland Revenue Department that Liontamer considers allows the FDR method to be applied to these units. Redemptions will be processed at maturity and payment will be made within 10 business days of that date.

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Why was I charged a repurchase fee?

A ‘repurchase’ means that Liontamer, as the manager, buys back your units at maturity. Liontamer provides the repurchase facility as a service to investors and charges a fee as administration costs are incurred. The repurchase option may be the most tax efficient outcome for certain investors depending on their personal tax situation and the performance of the fund they were invested in, and so is the default option unless we receive specific instructions to ‘redeem’ your investment at maturity. In order for Liontamer to maintain the integrity of our unit trust tax structure for all investors we have firm rules in place when it comes to exiting our funds, including at maturity. If we do not receive your instructions by the deadline, the default withdrawal method will mean that your units will be repurchased and this will incur a non-refundable 2% repurchase fee. Therefore, it is important that you instruct Liontamer as to your preferred method of withdrawal before the fund matures.

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Is the repurchase fee refundable?

Unfortunately once all the instructions have been processed and the fund has matured we are not able to retrospectively refund any repurchase fees as administration costs will already have been incurred.

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Can I change my instruction?

You can change or update your instruction at any time up until the maturity deadline; however, any instruction received after the deadline will not be actioned as the maturity process will have already begun.

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Why do all unitholders need to sign the maturity form?

Your maturity form instructs Liontamer to arrange payment of the proceeds of your investment to a nominated bank account once the fund matures. It also instructs Liontamer to withdraw your proceeds using options that have different tax and fee consequences. Therefore, it is important that all unitholders confirm their agreement of the instruction by signing and dating the maturity form before sending it in.

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Why does it take up to 10 business days before the proceeds get paid out?

On, or in some cases immediately prior to, the scheduled maturity date all redemption and repurchase requests (including any default repurchases) are processed and all payment amounts are finalised. A standard settlement process follows which means that the proceeds are typically not available until several days after the fund’s maturity date. It can therefore take up to 10 business days to wind up the underlying assets, coordinate settlement, transfer funds to the custodian, then to the registry and make the final payment to investors. Soon after maturity, Liontamer will send you a remittance advice detailing the final unit price, payment date and the amount to be paid to your nominated bank account.

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What happens if I send in my maturity form but it arrives after the deadline?

It is important that you send in your instructions before the deadline as the process to calculate the final maturity proceeds and make payment begins immediately the fund matures. If your form arrives after the deadline your units will have been repurchased under the default option and this will incur a 2% non-refundable fee. If you do not wish to have your units repurchased by default, you should ensure that you send in your completed maturity form soon after you receive it, preferably by emailing a PDF scan of your completed form to info@liontamer.com.