Covenant Trustee Services (“Covenant”) began as part of an Auckland accounting practice. In 1988 the company refocussed on the statutory supervision and trustee market. Throughout its rapid growth, the company has sought to both monitor compliance and support clients with their understanding of compliance regimes. A willingness to work with clients on solutions while seeking the best outcomes for stakeholders has also been a feature of Covenant’s model.
Covenant's activities cover:
Corporate Trust Services
Corporate trust services entails the supervision of debt securities, property managed investment schemes, forestry schemes, and unit trusts. However the sectors supported have varied over the years depending upon the commercial, legal and tax drivers. A key point of difference is the ability to add value to enhance the project as well as investor interests by being pro-active, identifying potential issues and dealing with them before they become a crisis. That said Covenant has a real capacity to add value in a crisis situation with win/win outcomes.
Retirement village supervision occurs under the auspices of the Retirement Villages Act 2003. Covenant supervises the majority of New Zealand’s retirement villages and is recognised as the market leader. With a multi-disciplinary team Covenant provides knowledgeable and effective support to both operators and residents. The settlements function is provided in-house ensuring a responsive and cost effective service to residents.
Covenant Trustee Services Ltd is licensed by the Financial Markets Authority, under the Financial Markets Supervisors Act 2011, to act as a supervisor of debt securities, retirement villages and certain other schemes.