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Savings Account

An account with a bank or other deposit-taking financial institution in which you are paid interest in return for depositing your money. These accounts are debt securities as you have lent your money to the bank or other financial institution, and have the right to be paid back.


Investments including: debt securities - where you lend your money to someone else and in return are paid interest; equity securities - where you buy shares in a company, may be paid dividends and have the chance of making a capital gain if you sell your shares at a higher price than you paid for them; investments in a managed funds - a fund of money paid in by several people which is managed by a fund manager; participatory securities - a catch all term for securities other than equity securities, debt securities, or investments in a managed fund.


Shares are equity securities and represent a share in a company. You may be paid regular dividends on your shares, and you have the chance of making a capital gain on your money if you sell your shares for more than you paid for them.

Statutory Supervisor

A person appointed to look after investors' interests for participatory securities.

Stock Exchange

The market place where shares are traded in companies that are listed. Currently, New Zealand’s only registered exchange is NZX Ltd.

Superannuation Schemes

A type of managed fund, where money paid in by several people is managed by a professional fund manager. If you join KiwiSaver you invest in a superannuation scheme which is a managed fund.