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FMA are concerned that a scam operation is targeting New Zealand residents and offering investment in a fixed return managed fund.
The investment has been offered in the name of some investment firms including Blackrock Investment Management Australia Limited and AMP Capital. Both Blackrock Investment Management Australia Limited and AMP Capital have confirmed that they are not associated with the investment.
It is stated in their investment prospectus that the investment is insured up to $250,000 per investment by the New Zealand and Australian Government Guarantee Schemes. No such scheme exists in New Zealand.
It is also stated in their investment prospectus that the investment complies with the “terms of FMA”, which is not true.
FMA recommend that investors exercise caution when receiving unsolicited investment offers.