[Weekly Wrap] The great debate on fees
Fund manager performance fees were a hot topic again this week; meanwhile, the price Fisher Funds paid to buy Huljich KiwiSaver was finally revealed.
Last week's story about a Harbour Asset Management survey of performance fees for equity funds drew plenty of response, including from Pathfinder's Paul Brownsey, who questioned why fund managers need performance fees at all. According to Brownsey, performance fees pay fund managers for doing what they are supposed to do anyway - try to get the best returns for their clients and outperform their competitors ...MORE»
Fisher Funds' Huljich purchase price revealedThursday, January 26th, 9:34PM
Fisher Funds spent just under $21 million buying the troubled Huljich KiwiSaver scheme, new documents show. MORE» |
Fund managers told to take good with badThursday, January 26th, 6:00AM 3 comments
Fund managers need to accept lower incomes in the bad years if they expect to reap big rewards in the good years, according to Tower Investments chief executive Sam Stubbs. MORE» |
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ASB cuts 1 to 5 year fixed home loan rates
ASB, Bank Direct and Sovereign have cut their one to five year fixed rate home loan by between 10 and 20 basis points. MORE»
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Cut your commission to compete, says Sovereign
Sovereign has defended the cheaper premiums available on its products via The Warehouse website, saying advisers can compete by lowering their commission levels. MORE»
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Associations take differing views on PI cover
Two recent court cases against advisers doesn’t appear to be encouraging advisers to seek professional indemnity (PI) cover. MORE»
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Asteron appoints new MD
Asteron has announced who is replacing Sean Carroll as its managing director. MORE»
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Ex-CEO named in South Canterbury SFO case
Name suppression has been lifted from former South Canterbury Finance chief executive Lachie McLeod, who faces charges relating to the company's collapse. MORE»
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[Breaking News] Kiwibank to buy Gareth Morgan Investments
Kiwibank has announced it will buy fund manager Gareth Morgan Investments (GMI), including the Gareth Morgan KiwiSaver Scheme. MORE»
