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News Round Up

TMF keeps its stars, Bridgecorp still raising money, FPIA Conference page, Financial Forecasts for 2001, Saving money on mortgages

Sunday, January 28th 2001, 10:25PM

Morningstar has decided to let Tower Managed Funds (TMF) keep its four star rating despite a restructuring and significant staff changes.

TMF outsources most of its asset management to sister company Tower Asset Management (TAM). Late last year TAM went through major changes that resulted in its offices in Sydney and Wellington being combined, with representation kept in both locations.

TAM NZ boss Paul Bevin became the managing director of the combined business and Craig Turnbull took over the chief investment officer role.

"Bevin’s appointment at the helm represents a particular advantage in respect to TAM’s Wellington-based team, with the established strengths of TAM in New Zealand likely to be protected and built upon under the new structure," Morningstar says.

"Significantly, the combined New Zealand/ Australian management team is heavily-dominated by New Zealand-based staff, reflecting the relative strength of TAM in New Zealand, as opposed to the previously separate Australian operation."

Bridgecorp still raising money
Bridgecorp successfully raised more than $10 million in its pre-Christmas capital note offer.

Despite raising more than the targeted $10 million the company is planning to keep the offer open. It can accept up to $20 million under the terms of the offer.

Get focussed
To help you focus on the year ahead Good Returns' annually publishes its special feature - Financial Forecasts.

Financial Forecasts is made up of a number of separate articles which cover each of the major asset classes, and the important areas of tax, super and savings, insurance and technology.

Each of these articles is written by an expert in the area, and is designed to help you focus on what lies ahead over the next 12 months.

Financial Forecasts 2001, which is done in association with the Bank of New Zealand, will be published later this week.

FPIA Conference page and Early Bird Special
People wanting to attend the Financial Planners and Investment Advisers conference in Christchurch this year can keep up to date with the latest conference news through Good Returns.

Last week a new section was added to the site dedicated to the conference. The page has programme and speaker details, plus payment facilities. As more information becomes available this will be posted on the site too.

To keep well informed join the mailing list on the page. This way we can send you information on the conference as it becomes available.

Book early for the conference and save. If you book before January 31 the conference fee is discounted to $465 (incl gst) and you will be billed in two instalments.

Your Mortgage and How to Pay it Off in Five Years

Price $14.95
Publisher Random House
The latest title to be added to the Bookstore is Your Mortgage and How to Pay it Off in Five Years by Anita Bell.

This popular book is a simple no-nonsense guide that shows you how to save the deposit, secure the right loan and find the right house or flat.

The book uses down-to-earth advice that really works.

To order your copy visit the Bookstore

 

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 ▼5.69 6.39 6.65
AMP Home Loans $200k+ 7.14 ▼5.59 6.29 6.55
AMP Home Loans LVR <80% - - ▲5.99 ▼6.19
ANZ 6.74 6.15 ▼6.39 6.49
ANZ Special - ▼5.69 ▼5.75 6.09
ASB Bank 6.75 6.09 6.40 6.65
ASB Bank Special - 5.70 ▼5.75 6.19
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - 5.70 ▼5.75 6.19
BNZ - Classic - - 5.75 ▼5.85
BNZ - GlobalPlus 6.74 5.89 6.39 6.59
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.39 6.59
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 5.85 5.99 6.19
HBS Special - - - 5.89
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.39 6.59
HSBC Premier 6.84 5.95 5.95 6.39
HSBC Premier LVR > 80% - 5.75 5.75 5.75
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.79 6.39 6.65
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.89 6.19
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 6.35 6.58 6.77
SBS Bank 6.65 5.85 5.99 6.19
SBS Bank Special - - - 5.89
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 6.09 6.40 6.65
Sovereign Special - 5.70 5.75 6.19
The Co-operative Bank 6.70 ▼5.70 ▼5.89 6.19
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 - - ▼5.75 6.19
Median 6.70 6.00 6.39 6.52

Last updated: 24 October 2014 9:27am

News Quiz

In a study of performance fees by Pathfinder, how many of the 10 equity PIE funds reviewed have to achieve a margin over and above their benchmark before performance fees kick in?

10

9

7

5

2

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