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The Asset Management Agreement is a crucial document used in New Zealand's financial services sector to formalize the relationship between professional asset managers and their clients. It is essential when a client (individual, corporation, or institution) wishes to delegate the management of their investment portfolio or assets to a professional manager. The agreement must comply with New Zealand's regulatory framework, particularly the Financial Markets Conduct Act 2013 and related legislation. It typically includes detailed provisions about investment strategy, risk management, fee structures, reporting requirements, and fiduciary duties. This document is particularly important as it establishes clear boundaries of authority, accountability measures, and protection mechanisms for both parties while ensuring regulatory compliance in the New Zealand context.

1. Parties: Identification of the asset manager and the client, including full legal names and addresses

2. Background: Context of the agreement, including the asset manager's qualifications and authorizations, and the client's intention to appoint the manager

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

4. Appointment and Authority: Formal appointment of the asset manager and scope of authority granted

5. Services: Detailed description of asset management services to be provided

6. Investment Objectives and Strategy: Agreed investment objectives, strategy, and any specific investment guidelines

7. Manager's Duties and Obligations: Comprehensive list of the asset manager's responsibilities and obligations

8. Client's Duties and Obligations: Client's responsibilities including providing accurate information and timely instructions

9. Fees and Expenses: Detailed fee structure, including management fees, performance fees, and recoverable expenses

10. Reporting and Valuations: Requirements for periodic reporting, performance measurement, and asset valuation

11. Risk Disclosures: Disclosure of investment risks and market uncertainties

12. Compliance and Regulatory Matters: Compliance obligations under New Zealand law and regulatory requirements

13. Confidentiality: Protection and handling of confidential information

14. Term and Termination: Duration of agreement and circumstances for termination

15. Liability and Indemnification: Extent of manager's liability and mutual indemnification provisions

16. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution