Marac Finance launches PIE funds, including 1 year, no fee PIE fund at 6.75%
12th Dec 08, 9:33am
Marac Finance has launched a 1 year term deposit PIE fund which has no fees and carries a 6.75% interest rate. It has also launched a call PIE. "PIEs are becoming an increasingly popular investment vehicle for astute investors and we expect the MARAC PIE investments to be popular. After all, who wouldn't want to pay up to 23% less tax?," said Marac Finance Retail Investment Manager Andrew Ford. Marac Finance said the effective rate for the 1 year term deposit is 7.75% for a 39% investor. A full list of all bank and finance company PIE rates is available here. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.