Custody and Security
Milford has spent considerable time to ensure that the assets owned by clients are held in the most secure entity possible. In this regard Milford has retained Investment Custodial Services Limited (ICSL), a fully owned subsidiary of the ASB Bank, to provide custodial services for all the assets held by clients of Milford. All assets are held beneficially in the client’s name.
All payments and receipts of monies are made between the client and ICSL. Milford does not handle client monies at any time.
The custodial system provides clients with the highest level of security. ICSL acts as a trustee and custodian within the ASB Bank structure, with its sole function to hold assets on behalf of Milford clients and clients of other major financial institutions.
The ASB Bank, which is 100% owned by the Commonwealth Bank of Australia (CBA), is rated AA- by Standard & Poor’s. CBA is one of the five largest listed companies in Australia.
The Milford KiwiSaver Plan has two KiwiSaver Funds available to New Zealand investors: The Milford Aggressive KiwiSaver Fund and The Milford Balanced KiwiSaver Fund. Click here to switch to Milford.
We have four PIE registered Funds: The Milford Balanced Fund, The Milford Aggressive Fund, The Milford Peak Fund and The Milford Income Fund.
Individually Managed Accounts (IMAs) are portfolios of investments tailored to clients risk profiles and requirements for growth, income and capital preservation.