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InvestSMART Fundlater

Fundlater account management

This depends on your personal situation. You should consult a registered tax advisor for assistance.

InvestSMART Professionally Managed Accounts using a Fundlater non-recourse loan can invest in the following InvestSMART Diversified Portfolios:

Yes, you can change to any of the following 3 investment models. But please note that brokerage is charged when switching.

To do this, see How do I change the model I am invested in? in the Help Centre. 

No, only payment instalments go towards paying off the loan.

When you make your final Fundlater repayment, your Fundlater loan is discharged.

Your InvestSMART PMA becomes a standard, regular investment account. This means you can change portfolios along with many other features. See Using my PMA in the Help Centre for assistance with these features.

You can continue to make regular payments to the same Bpay number, and we'll automatically add these to your portfolio. You also have the option to top-up your Fundlater loan, and request an additional $6,000 non-recourse loan. 

Yes, you can close your InvestSMART PMA at any time.

InvestSMART will sell down your portfolio and deduct any outstanding instalments. Once this is completed, we will return the remaining amount to you.

InvestSMART bears the risk. If the sum of remaining instalments is greater than the portfolio's value, the investor will receive no money but will not owe InvestSMART either.

See How do I close my account?

No, a Fundlater non-recourse loan is not a margin loan. As long as you can continue to make the repayments your account will continue to operate no matter the market movements.

Yes. 

If you have fully repaid your Fundlater loan, you have the option to redraw an additional $6,000 given that you are still invested in a Fundlater approved portfolio.

 

You can request a top-up here and the loan will be added to your account with no additional upfront funding required from you. 

Terms apply.

No, you cannot make partial withdrawals if you are a using a Fundlater non-recourse loan. If you require funds you will need to withdraw the full amount. When requesting a full withdrawal InvestSMART will sell down the portfolio and deduct any outstanding instalments left and return the remaining funds to you.

Related topics

No.

There is a maximum of one Fundlater non-recourse loan per investor.

You can either have an InvestSMART Professionally Managed Account using a Fundlater non-recourse loan in your name as an individual or an account in joint names.

You cannot have multiple accounts in your own name.

An InvestSMART Professionally Managed Account using a Fundlater non-recourse loan is only available for

  • individual and joint accounts
  • individual trustee and joint trustees for a child

Yes. 

Investors must be over the age of 18. However, there is no maximum age limit. 

Adults can open a Fundlater account as trustees for a minor.

No, there are no credit checks. Investors will need to invest a minimum of $4,000 to fund their InvestSMART Professionally Managed Account and InvestSMART will credit their account with a further $6,000 via a Fundlater non-recourse loan.

Key Points:

  • The minimum amount you need to provide is $4,000.

  • The maximum amount InvestSMART will loan is $6,000.

Explanation:

Yes, you can fund with any amount, minimum $4,000, and still be credited $6,000 or less if you desire.

Each investment portfolio requires $10,000 so as long as this total is met, you can alter the amounts.

For example, you can fund with $5,000 and be credited $5,000 or fund with $7,000 and be credited $6,000.