There's a fair bit to cover in this month’s update, including a big milestone for our Squirrel investors, a quick heads-up on investment withdrawal times and some recent media coverage you may have spotted.
First, though, for those who missed our investor webinar earlier this month, you can check out the recording here.
We covered the latest happenings in the residential construction market and took a closer look at what happens when a mortgagee sale occurs. A few investors had asked to cover this topic, so hopefully it helps give you a better understanding of how the process works.
We’ve officially hit $100 million in interest paid to investors
We’ve recently reached a milestone we’re pretty proud of.
Since 2015, Squirrel has paid over $100 million in interest to our investors. And in that time, not a single investor has lost capital.
It’s a significant number, and a reflection of how far we’ve come over the years. We’ve grown a lot since we first started offering investments, but our focus hasn’t changed – looking after your money and putting it to work.
A big thank you to you all for being part of the journey so far.
A heads-up on withdrawal times
Over the last couple of years, you’ve typically been able to sell your term investments within a couple of days, and we’ve generally been able to process Monthly Income Fund withdrawals faster than the official 30-day notice period.
Right now, things are taking a little longer than usual. That’s because we’ve seen an increase in the supply of quality loans available for investment.
So, a quick reminder of what to expect and how to plan ahead.
Monthly Income Fund
The official withdrawal notice period is 30 days, so I’d encourage you to plan around that timeframe, even if you’ve received your money sooner in the past.
Term Investments
Unlike the Monthly Income Fund, there's no guarantee that you'll be able to sell your term investments on our secondary market. While investments are currently selling in less than a week on average, this can vary.
If you know you'll need your money by a certain date, I'd recommend putting your investments up for sale at least two weeks beforehand, or earlier if you can.
While it's tempting to keep earning the higher interest rate for as long as possible, having your money available when you need it is more important.
Once your investment sells, you can move the money into your Squirrel On-Call Account, where it'll continue earning interest while you wait, albeit at a lower rate.
To put that into perspective, the difference in gross interest between $10,000 earning 5.50% p.a. and 2.50% p.a. over one week is just $5.77.
My advice? Don't chase a few extra dollars in interest at the expense of having your money available when you need it.
A quick word on recent Squirrel media coverage
You may have seen some articles in the media recently about Squirrel considering a listing on the NZX in mid-to-late 2027.
These articles followed a presentation by our CEO, David Cunningham, at an NZX-hosted event for leading New Zealand based high-tech, high-growth companies.
We’re considering a range of options to support the next stage of Squirrel’s growth, and a potential listing is one of those options.
The key point is that it’s business as usual in terms of what we offer you.
Questions, comments, ideas?
If there’s something we’re doing well, or something we could do better, I’m always keen to hear it—just flick me an email on dave@squirrel.co.nz.
As always, thanks for trusting Squirrel with your investments. It’s a responsibility we take seriously, and one we’re committed to doing well.
