8/24/2026 9:41 PM (PST)

A Portfolio Investment Entity (PIE) is a structure used to hold and manage investments on behalf of investors. The term is particularly associated with New Zealand's investment and tax framework, where a PIE can invest in assets such as shares, bonds, and other financial investments. Instead of each investor managing every underlying investment directly, the PIE pools or manages capital and invests according to its stated strategy. Investors generally receive an interest in the entity, while the entity manages the underlying portfolio. The structure can provide administrative and tax advantages depending on the investor's circumstances and the applicable rules. However, the specific tax treatment depends on factors such as the type of PIE, the investor's status, and the investments held. Anyone considering investing through a Portfolio Investment Entity should understand the entity's investment strategy, fees, risks, tax treatment, and governing documents. Professional financial or tax advice may be appropriate when determining whether a PIE structure fits an individual's investment objectives.