Individual Disclosure Statement - ASB Securities

Experience
• ASB Securities Ltd (April 20th 2003 - present) – Margin Lending Adviser
• ASB Group Investments (September 9th 2001 – April 20th 2003) – Account Manager
• ASB BANK Ltd (September 28 th 1998 – September 9 th 2001) – Personal Banking
Basis of Remuneration
I am remunerated on a salary only basis. My salary is paid by ASB Securities Ltd. I am also
entitled to receive an annual bonus. However, this bonus is entirely at the discretion of the
company and the amount cannot be predetermined.
Fees and Remuneration of ASB Securities Limited
ASB Securities and ASB Bank (as applicable) charge fees to their clients for certain of the
services referred to in this Disclosure Statement. Attached is a document showing these
fees as at the date of distribution of this Disclosure Statement
ASB Securities receives remuneration from the issuers of the following securities
(calculated as a % of the amount of the investment):
UDC debt securities
Fisher and Paykel Finance debentures
South Canterbury Finance debt securities
Marac Finance Debt Securities and Retirement Bonds
New Zealand Government Kiwi Bonds
up to 0.25% p.a
up to 0.5% p.a
up to 0.5% p.a
up to 0.5% p.a
up to 0.25% p.a
ASB Securities also receives one-off remuneration from the issuers of new listed equity
and debt securities in respect of “Firm Allocations”. The remuneration varies from issue to
issue but does not normally exceed 3% of the amount invested. Specific information will
be provided in respect of specific issues.
ASB Securities may also receive one-off remuneration in relation to other investment
securities – such as unlisted managed funds – on which advice is provided at a client’s
request. Specific information will be provided in respect of specific investment securities.
ASB Securities may also receive remuneration from ASB Bank of up to 2.5% p.a. of funds
held on call in the Cash Management Account and Foreign Currency Accounts held with
ASB Bank.
ASB Securities may also receive margin income on foreign exchange transactions of an
amount up to 1% of the amount converted.
ASB Securities may also receive remuneration from ASB Bank of up to 4% p.a. of amounts
outstanding under any loan provided under a margin lending arrangement
The remuneration referred to in this Disclosure Statement is current at the date of this
Disclosure Statement. Fees and remuneration may change from time to time.
Other Interests
Your ASB Securities Adviser (or their Prescribed Persons, as defined in the NZX Rules) may, from
time to time, hold securities, which are the subject of advice given to you. Other than as described
in this Disclosure Statement, your ASB Securities Adviser does not have any interest or
relationship that is reasonably likely to influence your ASB Securities Adviser in giving investment
advice.