Sharesies partners with NZX to bring investment to ordinary Kiwis
Sharesies has signed up as a participant on the New Zealand Exchange (NZX) as it moves to allow investors to access all listed companies on the exchange.
From July, Sharesies investors will be able to invest in NZX companies, complementing the company’s current share offerings in exchange-traded funds and managed funds.
It’s a major milestone for the company, which launched in 2017.
“Becoming an NZX market participant fulfils a major aspiration we’ve had since day one and means our 47,000 customers have access to a part of trading they’ve largely been shut out of,” says Sharesies cofounder Leighton Roberts.
“This is the culmination of months of hard work and really demonstrates how Sharesies has grown tremendously in two years since we founded the company.”
The company currently manages more than $57 million in funds for New Zealanders.
“We’re excited to bring NZX listed companies to our platform and make this accessible for our investors. It’s important more Kiwis get equal access to investment opportunities with whatever amount they can afford,” says Roberts.
According to NZX executive director of markets development and clearing, Benjamin Phillips, NZX is delighted to welcome Sharesies as an NZX trading and clearing participant.
“Sharesies, through its innovation is opening up market access to a wider range of New Zealand retail investors. This supports NZX’s strategy of growing market access and investment, and that the share market is a place for investors of all sizes.”
Sharesies states that it is the only investment platform in New Zealand offering fractionalised NZX shares, which means investors can invest a minimum of one cent per trade. This will apply to listed companies as well.
“Currently only 20% of Kiwis invest in shares, with savings accounts and property being the most common investments,” says Roberts.
“There are a lot of barriers in the way of investing in shares. We’ve spent the last six months working with NZX to become a market participant so we can give Kiwis even more access to the benefits of the share market, something we think is hugely important now more than ever given New Zealand’s current low-interest environment.”
“It’s great to think that very soon New Zealanders will be able to own a bit of everything on the NZX for less than $2. Everything we do is about providing equal opportunities, whether you’re wanting to invest from one cent or $500,000. This will apply to our pricing model too. We know current pricing models make it more difficult for people purchasing small bundles of shares, so we’ll be looking to disrupt that when we launch in a few weeks’ time,” concludes Roberts.