The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko is aware of several news articles over the last few days which refer to its recent engagement with Senior Trust.
Margot Gatland, Head of Enforcement at the FMA says, "In November 2024 the FMA - Te Mana Tātai Hokohoko opened an investigation into Senior Trust Retirement Village Income Generator Limited (STIG), which is ongoing. The scope of the investigation includes considering disclosures made by STIG in its previous product disclosure statement (PDS) and associated advertising material and whether those disclosures complied with Parts 2 and 3 of the Financial Markets Conduct Act 2013."
Concurrently with the investigation, the FMA has consulted STIG about aspects of its business. As part of the FMA's discussions with STIG, STIG has agreed to register an amended PDS. The FMA did not object to the PDS being lodged in its current form. STIG has issued an investor communication with more detail about the changes, which can be found here:
Important Updates to the Product Disclosure Statement (PDS)
"We want to ensure that existing and prospective investors in STIG are aware that it lodged a new PDS on 16 June 2025 and that it differs substantially from earlier iterations," says Ms. Gatland. "Investors should also take particular note of the contents of STIG's June 2025 investor communication accompanying the PDS and accessible on its website alongside the new PDS at www.seniortrust.co.nz/pds .
"Any investors who may have queries about the above or their investment in general should seek advice from a legal or financial adviser."
