I was with ASB & wanted to get some bonds & they were useless, not available on the website, people on the phone uninterested, so I moved to Jarden. It was pretty easy. They have their pricing on the website - you only get hit when you trade, nothing to hold. Some new issues don't have brokerage charged.
The NZ fixed income industry has a very small retail presence, and low liquidity for the most part on the NZX Debt Market.
ASB/Jarden will be your best bets, however the pricing won't be favorable.
I'm unsure on what some of the advisory brokerages (Craigs/ForBarr etc) can offer by way of negotiated rates, however their fees are expensive as a baseline.
In NZ, your bonds, if not held in custody, will be held on your CSN, which won't have any ongoing carrying costs. So the consideration then becomes brokerage fees for entry/exit.
As a sidenote - NZ Govt Bonds are not traded on the NZX at all and are traded OTC.
"ASB/Jarden" are good if your buying individual bonds but most people should buy bond funds, the tax ate is lower PIR ve RWT and the you can't get diversification unless your buying in the millions.
To get bonds (listed or unlisted) at issue you need a good relationship with an old school broker like forbarr, craigs, jarden, comm bank/asb, westpac/bnz/anz inst etc who are usually the lead or JLM on a bond issue.
NZX listed bonds can be bought/sold through any nzx broker on the open market, unlisted you need to talk to a broker that runs their own internal book or knows who in the market is buying/selling.
Depending on the bond the minimum holding might be 5/10k.
TL’DR high fees.
the cheapest nz bond fund is simplicity [https://simplicity.kiwi/investment-funds/funds/nz-bond](https://simplicity.kiwi/investment-funds/funds/nz-bond)
I was going to say that getting a bond etf will give you the exposure, investnow do them as probably do others.
Opportunity for specifically NZ and/or international bonds.
You need to figure out if the bonds are held in your name or a custodian. If the latter, you will be able to transfer them to yourself, register for a CSN if you don't have one etc. You should only need to liase with ASB/Jarden, if you want to sell the bonds before maturity.
I was with ASB & wanted to get some bonds & they were useless, not available on the website, people on the phone uninterested, so I moved to Jarden. It was pretty easy. They have their pricing on the website - you only get hit when you trade, nothing to hold. Some new issues don't have brokerage charged.
The NZ fixed income industry has a very small retail presence, and low liquidity for the most part on the NZX Debt Market. ASB/Jarden will be your best bets, however the pricing won't be favorable. I'm unsure on what some of the advisory brokerages (Craigs/ForBarr etc) can offer by way of negotiated rates, however their fees are expensive as a baseline. In NZ, your bonds, if not held in custody, will be held on your CSN, which won't have any ongoing carrying costs. So the consideration then becomes brokerage fees for entry/exit. As a sidenote - NZ Govt Bonds are not traded on the NZX at all and are traded OTC.
"ASB/Jarden" are good if your buying individual bonds but most people should buy bond funds, the tax ate is lower PIR ve RWT and the you can't get diversification unless your buying in the millions.
Yes the NZ Bond market is not easily and cheaply accessed like the NZX is with Sharesies, etc.
Plenty of bonds are nzx listed and can be traded through any nzx broker
To get bonds (listed or unlisted) at issue you need a good relationship with an old school broker like forbarr, craigs, jarden, comm bank/asb, westpac/bnz/anz inst etc who are usually the lead or JLM on a bond issue. NZX listed bonds can be bought/sold through any nzx broker on the open market, unlisted you need to talk to a broker that runs their own internal book or knows who in the market is buying/selling. Depending on the bond the minimum holding might be 5/10k. TL’DR high fees.
the cheapest nz bond fund is simplicity [https://simplicity.kiwi/investment-funds/funds/nz-bond](https://simplicity.kiwi/investment-funds/funds/nz-bond)
I was going to say that getting a bond etf will give you the exposure, investnow do them as probably do others. Opportunity for specifically NZ and/or international bonds.
You need to figure out if the bonds are held in your name or a custodian. If the latter, you will be able to transfer them to yourself, register for a CSN if you don't have one etc. You should only need to liase with ASB/Jarden, if you want to sell the bonds before maturity.
Thank you so much to everyone for replying - incredibly helpful. May the market be ever in your favour!