News Round Up

New tax service, Manager aims to raise more than $50 million, FPIA Platinum 3, A change of Hart

Tuesday, March 20th 2001, 12:02AM

Good Returns in association with CCH are offering an exciting new service where busy personal investment professionals can get answers to their tax questions online.

With the new Question and Answer service subscribers can ask tax questions online and get an answer from CCH's in-house team of highly qualified and experienced law and accounting professionals within 24 hours.

For more details about the service CLICK HERE

Private Capital

Private capital and mezzanine debt are about to take centre stage again with a major offering in each sector by Auckland-based i-cap Partners.

The company is hoping to raise between $50 million and $100 million with its i-cap equity partners limited Private Equity Investment Fund and i-cap mezzanine partners limited Mezzanine Investment Fund.

Former finance minister Ruth Richardson is the chairperson of both funds.

Good Returns will provide more detail on these funds later this week.

Invasion of the Practice Snatchers
One of the big talking points at the IPAC Investment Conference last week was the impact consolidators will have on the advisory market in New Zealand.

Consolidators are firms which go out into the accountancy and financial planning market and buy up firms with cash and share deals.

In New Zealand three Australian firms have been active (Harts, Stockford and Hayes Knight) and one other is expected to enter the market soon.

Australian financial journalist Tony Thomas, who wrote the highly acclaimed book Invasion of the Practice Snatchers, expects about half this country's mid-sized firms will be swallowed up by consolidators.

Thomas's merger handbook, Invasion of the Practice Snatchers, is available through Good Returns' bookstore.

To place your order CLICK HERE

FPIA Platinum 3
Sovereign as been signed up as the third and final platinum sponsor for the Financial Planners and Insurance Advisers Conference in Christchurch later this year.

The other platinum sponsors are BT Funds Management and Colonial First State Investments.

For more information on the conference Click Here to visit the FPIA Conference page.

A change of Hart
Reeves Moses has officially changed its name to Harts Group.

The change is a result of listed Australian company Harts Australasia taking over Reeves Moses more than a year ago.

Reeves Moses InvestorCare is now Harts Portfolio Management and Reeves Moses MortgageCare is now Harts Contributory Mortgages.

The business is now a multi-dimensional financial services company that offers accounting services, funds management, finance and insurance.

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