About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, December 21st, 10:43PM
rss
Latest Headlines

News Round Up

Fund managers jostle for position, Macquarie tops survey, PFI sells property.

Monday, January 22nd 2001, 6:41AM

Aon's latest Investment Update shows why buying last year's performance is a poor way to make an investment decision.

Those managers who did well in 1998 or 1999 didn't fare too well in 2000 and vice versa, it says. Analysis of the last 3 years data shows that:

  • no manager is in the top 50% of returns every year.
  • 8 managers (of 13) are in both the top and bottom quartile in the 3 year period
  • Tower's "value" style and underweight exposure to overseas equities had hurt them in the period up to March 2000.

    "Since then, the change is dramatic and they have come up to second place in this survey for their discretionary fund. Colonial First State, with its "very active" style (not constrained to value or growth), came in with the best return this year, up from 12th last year, " Aon says.

    Conversely, of the top 4 managers last year - NZ Funds Management, ASB, BT Funds Management and Armstrong Jones - only BT stayed in the top quartile. ASB and AJ moved to the bottom quartile. NZ Funds moved back to the middle of the pack but hung on to the top position over 3 years.

    Macquarie tops survey


    Macquarie Bank’s Financial Services Group has topped the latest Complaints Culture Survey survey, carried out by TMI Australia. TMI studied nearly 200 organisations in six countries over the past year.

    The survey found that clients of banks as well as customers of credit unions, fund managers and other financial services organisations in Australia and elsewhere generally do worse than their counterparts in other local industries when it comes to having their complaints processed.

    According to TMI Australia, which polled more than 10,400 people around the world asking how the organisations they worked for handled complaints, most companies do not make it easy for customers if something goes wrong.

    Macquarie Bank’s Financial Services Group rated substantially better than any other company in successfully managing customer complaints.

    The survey showed people were generally reticent about making their problems known to an organisation - just one in three clients said they make a point of complaining to a product or service provider each time they have a problem.

    "The survey showed that Australians with a complaint against an organisation would rather vote with their feet and take their business elsewhere than put their hand up for service.

    PFI sells property
    Property For Industry Limited (PFI) has sold its property at 30 Bowden Road, Mt Wellington for $10.03 million.

    Proceeds from the sale will be reallocated to new investments - PFI recently announced the purchase of eight high-quality properties in Westfield, Mt Wellington for $23.15 million.

    PFI general manager Peter Alexander said the sale of the Fletcher Aluminium property represents a return of 11.53% (including a gain over cost of $142,000) since purchase (before company overhead, tax and debt). This compares to the Property Council of New Zealand Auckland industrial property index with an annualised total return for the four years to June 2000 of 11.16%.

    PFI is the only property investment company listed on the New Zealand Stock Exchange which specialises solely in industrial property.

    « Tech picked for 2001Get your tax questions answered online »

    Special Offers

    Commenting is closed

     

    print

    Printable version  

    print

    Email to a friend
    News Bites
    Latest Comments
    • QFEs call for simplification
      “I believe that all advisers should personally be registered or licensed for the services that they provide. Whether working...”
      2 days ago by I was wondering
    • Fund brings active and passive together
      “Hi Brent Sheather Not sure if SmartShares website is accurate or not but the 3.2% & 2.8% relate to the NZX Midcap (to...”
      2 days ago by noidea
    • Fund brings active and passive together
      “Hi Bobby WTF indeed but the WTF should be directed to MJW who may well be on serious drugs. SmartFONZ actually returned,...”
      3 days ago by Brent Sheather
    • Fund brings active and passive together
      “I don't read MJW but FundSource correctly has FNZ ETF returning 2.8% for the Sept quarter. Happy to send you a copy of the...”
      3 days ago by samstanley
    • Fund brings active and passive together
      “Regardless of timing the launch of the Harbour Advanced Beta Fund is a huge achievement. Well done to Jody, Andrew and team...”
      3 days ago by samstanley
    Subscribe Now

    Weekly Wrap

    Previous News

    MORE NEWS»

    Most Commented On
    Mortgage Rates Table

    Full Rates Table | Compare Rates

    Lender Flt 1yr 2yr 3yr
    AMP Home Loans 7.24 5.69 6.19 6.55
    AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
    AMP Home Loans LVR <80% - - 5.75 6.09
    ANZ 6.74 6.09 6.19 6.39
    ANZ Special - 5.59 5.75 5.99
    ASB Bank 6.75 5.99 6.19 6.39
    ASB Bank Special - 5.59 5.75 5.85
    BankDirect 6.75 5.99 6.19 6.39
    BankDirect Special - 5.59 5.75 5.85
    BNZ - Classic - 5.69 5.75 5.99
    BNZ - GlobalPlus 6.74 5.89 6.19 6.29
    Lender Flt 1yr 2yr 3yr
    BNZ - Mortgage One 7.15 - - -
    BNZ - Rapid Repay 6.74 - - -
    BNZ - Std, FlyBuys 6.74 5.89 6.19 6.29
    BNZ - TotalMoney 6.74 - - -
    Credit Union Auckland 6.70 - - -
    Credit Union Baywide 6.45 6.05 6.20 -
    Credit Union North 6.45 - - -
    Credit Union South 5.75 - - -
    eMortgage 6.04 6.15 6.69 7.19
    Finance Direct 6.10 6.45 6.69 7.10
    First Credit Union 6.45 - - -
    Lender Flt 1yr 2yr 3yr
    General Finance 5.95 6.25 6.50 7.10
    HBS Bank 6.65 5.69 5.74 5.99
    HBS Special - 5.59 5.49 5.69
    Heartland 6.70 7.00 7.25 7.85
    Heretaunga Building Society 6.70 6.00 6.30 -
    Housing NZ Corp 6.74 ▼5.70 ▼6.09 ▼6.29
    HSBC Premier 6.84 ▼5.45 ▼5.65 5.99
    HSBC Premier LVR > 80% - - - -
    HSBC Special - - - -
    ICBC 6.75 5.99 6.39 -
    Kiwibank 6.65 5.69 6.19 6.55
    Lender Flt 1yr 2yr 3yr
    Kiwibank - Capped 5.65 6.50 - -
    Kiwibank - Offset 6.55 - - -
    Kiwibank LVR > 80% - - 5.75 5.89
    Liberty - - - -
    Napier Building Society 5.80 6.00 6.70 -
    Nelson Building Society 6.95 6.15 6.60 -
    NZ Home Loans 6.85 6.09 6.40 6.65
    Perpetual Trust 7.70 - - -
    Resimac 6.59 6.10 6.28 6.43
    SBS Bank 6.65 5.69 5.74 5.99
    SBS Bank Special - 5.59 5.49 5.69
    Lender Flt 1yr 2yr 3yr
    Silver Fern 5.95 6.10 6.55 7.05
    Sovereign 6.85 5.99 6.19 6.39
    Sovereign Special - 5.59 5.75 5.85
    The Co-operative Bank 6.70 5.69 5.75 5.99
    TSB Bank 6.74 5.95 6.19 6.30
    TSB Special - - 5.79 -
    Wairarapa Building Society 6.20 5.75 5.95 -
    Westpac 6.59 6.09 6.39 6.65
    Westpac - Capped rates - 6.74 6.99 -
    Westpac - Offset 6.59 - - -
    Westpac Special - - - 5.99
    Median 6.70 5.97 6.19 6.29

    Last updated: 15 December 2014 11:07am

    News Quiz

    A well-commented on story last week mooted that many authorised financial advisers are out of their depths discussing what with their clients?

    bonds

    death

    divorce

    piles

    birth control

    MORE QUIZZES »

    About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
     
    Site by PHP Developer and eyelovedesign.com