The New Zealand Stock Exchange has changing the composition of its market indices following the break up of Fletcher Challenge.
Fletcher Energy and Building are to be removed from the NZSE10, but Forests will stay.
Advantage Group and Fletcher Energy are to be removed from the NZSE 40, but Forests and Building are included.
The changes are subject to court approval of the Fletcher restructuring.
Unity toasts liquid
Unity has offered an impartial online brokerage for managed funds, shares, mortgages and insurance for the past two and a half years. It does not offer its own products, nor does it promote one option over another.
Unity differentiates itself by offering access to its integrated call centre either over the Internet or by an 0800 phone number.
Chief executive Brian Howard-Clarke that the entry of another major player to the online financial services brokerage market should ultimately result in customers reaping the benefit with more products being designed and priced for online distribution, leading to lower prices for the customer.
Results of Fund Manager of the Year Awards
Armstrong Jones is once again (for the eighth consecutive time in fact) winner of the Morningstar Fund Manager of the Year Award.
Details of other winners follow:
Multisector: Winner BT Funds Management, 2nd AMP, 3rd WestpacTrust
NZ and Australian equities: Winner AJ, 2nd BT, 3rd AMP
NZ fixed interest: Winner National Bank, 2nd BNZ, 3rd WestpacTrust
NZ property: Winner AJ, 2nd Tower, 3rd Guardian Trust Funds Management
Intl fixed interest: Winner Colonial First State, 2nd WestpacTrust, 3rd BNZ
Intl equities: Winner AMP, 2nd AJ/WestpacTrust, 3rd Tower.
The awards are only open to NZ funds. Not all funds are eligible. Those not included are index funds, and funds not rated by Morningstar.
Two new ethical funds come to market
Two new ethical funds are being launched this week. Guardian Trust Funds Management is putting out an Australiasian equities fund and Tower Managed Funds is doing an international share fund.
Good Returns' monthly ethical investment column will be published on Wednesday.
Important date
Have you registered for IPAC's annual conference which is being held in Auckland on Friday?
The title of this year's conference is: The Evolution of Investment; Will the Reality Match the Promise?"
Besides having top local speakers IPAC has also arranged for key international presenters to give their views on a variety of topics from non-traditional investing through to the selection of offshore managers.
Workshop sessions feature throughout the day with conference guests invited to choose from subjects such as ethical investing, evolution of financial planning and consolidation of professionals.
For a full copy of the programme click here
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