Corporate Trustee & Advisory

In 2021, Tricor Group fully acquired NZGT Holding Company Limited (NZGT Holdings) together with its wholly owned subsidiaries, The New Zealand Guardian Trust Company Limited (Guardian Trust) and Covenant Trustee Services Limited (Covenant).

Guardian Trust and Covenant have long histories in the provision of fiduciary and corporate trust services and hold a strong market share in their core product lines, in terms of both appointment numbers and funds under supervision. Having operated in New Zealand for over 125 years, Guardian Trust and Covenant are recognized as the leading providers of corporate supervisory and trustee services in New Zealand with over NZ$250 billion in funds under supervision.

Both Tricor companies, Guardian Trust and Covenant specialize in providing supervisory and corporate trustee services in the following financial products:

Managed investment schemes are used to provide investors with exposure to a wide range of assets including property, shares, bonds, forestry and cash both in New Zealand and overseas. We act as supervisor for managed investment schemes which include KiwiSaver, unit trusts, superannuation and property managed investment schemes and forestry schemes. In addition to schemes being offered to the public, we also supervise schemes being offered to wholesale investors. We currently supervise managed investment schemes with assets in excess of NZ$120 billion (as at June 2018).

Debt and note issues provide investors with exposure to interest bearing securities. We act as a supervisor for debt issues for private and public (notes listed on the NZDX) companies, including state-owned enterprises, councils, credit unions and building societies – Our expertise encompasses secured and unsecured debt, bonds, convertible and capital note issues and subordinated debt. We currently supervise debt and note issues of in excess of NZ$15 billion (as at June 2018).

Securitization can be a very effective way for corporate organizations to finance their business. It can also provide corporate organizations with an opportunity to diversify and broaden their wholesale funding base. Assets which can be securitised include residential and commercial mortgages, auto and consumers loans, finance and operating leases, credit card receivables and the like. In addition to acting as trustee, and security trustee for these transactions, we also can provide trust management services. We provide these services in respect of assets valued at in excess of NZ$28 billion (as at June 2018).

Escrow services are often needed by parties completing a transaction where an independent party is required to hold the assets or cash balances until the transaction is finally settled. We specialize in escrow services and can act as an escrow agent in a variety of situations, including mergers and acquisitions, project financing, private equity, capital market transactions, liquidations and workouts, court case settlements and intellectual property. We can offer these services in most currencies.

Guardian Trust is licensed to provide supervisor services for superannuation schemes, being offered to the public. We are also a corporate licensed independent trustee authorised to provide trustee services for restricted legacy superannuation and workplace savings schemes.

The Retirement Villages Act of 2003 governs the supervision of retirement villages. Covenant, A Tricor Company, is a statutory supervisor for most of New Zealand’s retirement villages and is recognised as the market leader. A multidisciplinary team supports retirement villages through their compliance obligations. The team has a detailed understanding of village operations, cost effective compliance management, and market trends and practices. An in-house trust account and settlements function is operated to ensure the secure holding of resident and prospect funds. Covenant is a statutory supervisor for residents’ interests of in excess of NZ$7 billion (as of March 2021).

The qualities that set us apart from other providers are: