Aera Overnight

DEPOSIT ACCELERATOR

Aera Overnight is a portfolio of New Zealand cash or cash equivalent mutual funds. It holds the following assets on your behalf ("Underlying Assets"):
- Kernel Cash Plus Fund (45%)
-> Kernel public disclosure here
- Nikko AM NZ Cash Fund (45%)
-> Nikko public disclosure here
- Cash in a Registered New Zealand Bank (10%)


Aera's General Terms apply to all Deposit Accelerators. View these on the link below.



HOW THE ACCELERATOR WORKS

Custody:

The Underlying Assets are held by Aera 22 Nominee Limited as bare trustee on behalf of you, the customer. When you transfer money into a Deposit Accelerator you will automatically be allocated units of the Underlying Assets. Conversely, when you transfer money out of a Deposit Accelerator the amount of assets we hold on your behalf will be reduced.

Notice Period:

There will be a delay between when you advise us to dispose of Underlying Assets and the time that your money will be available to you in your Everyday wallet. (This is the "Notice Period"). The Notice Period includes expected bank and payment processing times as well as the time needed to dispose of the Underlying Assets as instructed. Any unexpected delays due to reasons outside of Aera’s reasonable control will be advised to you as soon as practicable.

Variable Return:

The Targeted Daily Rate is a per annum variable rate that may go up or down depending on the performance of the Underlying Assets and the Custody Fee charged by Aera. The rate applicable for each day will be clearly shown on the relevant account screen linked from your home screen, and the daily return will be deposited to your account daily.

Aera makes no assurance or representation that the Targeted Daily Rate is guaranteed for the life of the product or for the Notice Period. Aera will advise any changes in the Targeted Daily Rate by email or other suitable notification (which may include push notification or SMS). The Targeted Daily Rate may change while you are within the Notice Period.

Custody Fee:

Aera charges a fee (Known as the "Custody Fee")  to enable Members' access to purchase Underlying Assets. This fee is the difference between the return over time of the Underlying Assets and the Targeted Daily Rate. Aera may review the Custody Fee to reflect the costs of providing this service. Changes to the Custody Fee will result in changes to the Targeted Daily Rate.

Risk:

Instructing Aera to purchasing Underlying Assets on your behalf comes with risk. There is no guarantee or representation made by Aera that the value of the Underlying Assets will increase and you are subject to the same risk as purchasing the Underlying Assets directly, including the chance of losing the money you started with.

Further to the disclaimers set out in our General Terms, you must accept as understood How the Accelerator Works.

2023-08-03

OVERNIGHT

5.95%
Overnight notice

THIRTY

6.45%
30 day notice
  • Terms and Conditions
© 2024 Aera 22 Opco Limited.