We want to ensure that investing with us is secure, transparent and easy
Forest Enterprises Limited is a Licensed Manager of Forestry Managed Investment Schemes
In general terms, a managed investment scheme (MIS Scheme) pools money from investors who rely on the investment expertise of the scheme manager. In a typical forestry MIS, the manager exercises skill, and provides expertise and decision-making in managing the forest and administering the investment, while investors have an oversight role. The Financial Markets Conduct Act 2013 requires a manager of an MIS Scheme to be licensed.
Effective from 3 October 2016, Forest Enterprises Limited is licensed to manage MIS Schemes (excluding managed funds) which are primarily invested in forestry assets. Our license number is FSP37784.
In addition, each of our existing 44 Limited Partnership investments plus 5 of our Ordinary Partnerships became registered MIS Schemes from 29 November 2016, as required by the Financial Markets Conduct Act 2013. When we launch our new investments in 2017, they will be among New Zealand’s first second rotation forestry investments offered under the new financial markets regime.
Becoming a licensed MIS Scheme manager was a rigorous and thorough process and it does not stop once a licence is granted. Successful applicants like us have to meet high minimum standards of corporate governance, operational conduct and financial management, and provide evidence of robust systems that give investors the information, control and protection appropriate for the services we provide.
About the Financial Markets Authority
The Financial Markets Authority is the regulatory body for New Zealand’s capital markets and financial services sector. Their mission is to promote the development of fair, efficient and transparent financial markets, helping service providers raise standards and maintain integrity and help investors build their capability.
Forest Enterprises Limited Board Charter
The primary business of Forest Enterprises Limited (FEL) as a company is to manage forestry investment schemes, primarily Managed Investment Schemes (MIS Schemes) under the Financial Markets Conduct Act 2013.
The primary source of the FEL Board’s authority as the oversight body for the MIS Schemes is the Constitution of FEL, plus the FEL Board Charter. These documents include an obligation on the FEL Board to act as the primary oversight body for compliance with FEL’s market service licensee obligations.
Read the Forest Enterprises Limited Board Charter.
Forest Enterprises Code of Ethics
The Directors, Management and Staff of Forest Enterprises must observe our Code of Ethics. Our written Code of Ethics is an important part of communicating the professional conduct expectations of our people, and it contributes to a good compliance culture. It is a statement of our commitment to integrity and high ethical standards in our business.
Read our Code of Ethics.
We Do Not Give Financial Advice
While Forest Enterprises provides forestry investment products and documents relating to those investments its staff cannot and do not provide specific financial or personalised investment advice.
Our staff can provide Product Disclosure Statements (PDS), Investments Reports and notes on secondary market sales processes for buyers and sellers. In addition our staff can provide general information relating to investment in forestry as a class of financial product. Furthermore, our staff can explain how to buy or sell our forestry investments.
However, our staff cannot advise you on the suitability of Forest Enterprises forest investments with regard to your own risk preferences, personal situation, goals, needs or aspirations. We do not give recommendations that any particular investment, transaction or investment strategy is suitable for any specific person.
We recommend that for financial and investment advice specific to your individual situation and tailored to your own position, you consult with an authorised financial adviser.
Information Required to Validate Customer Identity
Under New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism Act 2009, all persons who are investing in financial products themselves directly (singularly or jointly), as a Trustee of a Trust, a Partner in a Partnership, or a Director or significant shareholder of a Company, must provide certified proof of identification, residential address, and other information which may be required for a process called ‘customer due diligence’ (CDD).
This applies to all individuals who want to invest with Forest Enterprises for the first time, New Zealanders and overseas individuals alike. Certain transactions and change of circumstances, even for existing investors with Forest Enterprises, may also trigger the requirement for CDD under the Anti-Money Laundering legislation.
So when you come to invest, our team will guide you through the process.
Forest Enterprises is an AML reporting entity supervised by the Financial Markets Authority, license number FSP37784.
Learn more about AML/CFT in New Zealand from the Department of Internal Affairs.
We Take Complaints Seriously
As a Financial Service Provider, we willingly comply with the industry requirement to provide our customers with a comprehensive complaints procedure and to be members of an approved external dispute resolution scheme. Forest Enterprises is a member of the independent disputes resolution service provided by Financial Services Complaints Ltd and approved by the Ministry of Consumer Affairs.
We are committed to providing a high-quality service to every investor. But if something goes wrong, please tell us about it. Let us know of any complaint as soon as it happens so that we can understand your complaint and work towards resolving it.
Download our full complaints procedure to guide you in the event that you are not satisfied with the service you have received from us.
At any time, feel free to contact Managing Director Steve Wilton:
Managed Investments Director, Forest Enterprises
PO Box 128
DDI +64 6 370 6363
Mob. +64 27 320 2731
No Disguised Payments to the Investment Manager or Promoter
A forestry investment promoter is entitled to be rewarded for the work and associated risk involved in releasing new investments, no different to promoters of other investment products. What they should not do is disguise these payments.
Forest Enterprises does not engage in any of the practices highlighted in the examples below. All fees and payments are transparent – they are at arms length, clearly disclosed and contestable. Furthermore, investors have absolute control over the manager during the investment by being able to replace Forest Enterprises at any time. Refer to our Investment Structure page.
Forest Enterprises Website Terms & Conditions of Use
All users of this site agree that access to and use of this website are subject to the following terms and conditions and other applicable law.
Forest Enterprises and its content providers own all content, materials, displays, pictures, text, graphics, logos, images, audio clips, video clips, digital downloads, and software and other items on this website (collectively “Content”). Unless you are the content provider, you have no ownership interest in the Content. However, Forest Enterprises grants you a limited licence to use the Content as provided in the section titled “Licence to Use”. Content is protected under applicable copyright, trademark, and other intellectual property laws in New Zealand and the rest of the world. You have no right to view, use, copy, publish, display or modify the Content except as described in the next section, Licence to Use.
Licence to Use
Forest Enterprises grants you a limited, revocable, non-exclusive, non-transferable licence to view and use this website. Permission is granted to electronically copy and print hard copy portions of this site for the purpose of investing with Forest Enterprises or using Forest Enterprises services. Any other use, including but not limited to the reproduction, distribution, display or transmission of the content of this site is strictly prohibited, unless authorised by Forest Enterprises. You may not modify this website or the content without the express written consent of Forest Enterprises. You may not copy, view, resell or otherwise exploit any of the content or otherwise use this website or the Content for any commercial purpose.
The entire content included in this site is protected under all copyright laws, and is the property of Forest Enterprises Limited, its related companies, or its content suppliers. © ALL RIGHTS RESERVED.
All trademarks, service marks and trade names of Forest Enterprises used in the site are the intellectual property of Forest Enterprises Limited or its related companies.
Acknowledgement of Supplied Photography
We would like to acknowledge with thanks the following contributors of photographs used on this website.
Philip Taylor, NZ Forestry
Phil Taylor is the Managing Director of NZ Forestry. He serves on the Executive Committee of the New Zealand Forest Owners Association, is Chair of the Forest Research Committee, and board member of the Forest Growers Levy Trust. Phil has supplied the following photographs for our exclusive use on this website:
Liam Clayton, Gisborne Herald
The Gisborne Herald has granted us permission to use this photograph by Liam Clayton taken at Gisborne’s Eastland Port in November 2015 of:
Forest Enterprises Managing Director Steve Wilton (left), Logic Forest Solutions Managing Director Richard Smith (centre) and Forest Enterprises Forestry Director Bert Hughes (right).
CentrePort Wellington granted us permission to use this photograph of logs being loaded onto trains at Waingawa Log Hub near Masterton, destined for the Port. C3 is a provider of product handling solutions, contracted to CentrePort.