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News Round Up

Monday, May 14th 2001, 6:50AM

Waltus Property Investments, the group resulting from the merger of 27 property syndicates last year, has changed its name to Urbus Properties Limited.

The re-branding is a deliberate move by the directors to signal to the market that Urbus is a new property company with very different characteristics to the original individual syndicates, the company says in a statement.

"Urbus is a separate business entity," chairman Denis Thom says. "The strength of the new company lies in its diverse property portfolio which the directors actively manage to provide attractive and reliable income returns for our investors," he says.

The portfolio is valued at around $229 million. Urbus will retain the services of Waltus Management.

Separation assured


Macquarie, which recently bought the sharebroking business of JP Morgan (formerly Ords) has promised to run this business separately from its investment management operations.

"Retail broking and Investment Management operate as two separate businesses, and neither has any access to the other's client base," investment services group manager James Turnbull says.

"The extent to which we are able to achieve success in this regard is evidenced by the fact that Macquarie in Australia is a very substantial retail broker and at the same time provides cash management services to a significant number of other retail stockbrokers."

He says the Australian operations of the group prove that it can maintain a very real separation between the two businesses.

OM-IP offer extended
The latest OM-IP 220 capital guaranteed investment series has been extended due to the record demand, the directors says.

They have passed a resolution, and Westpac has agreed, to accept over subscriptions of up to A$150 million.

The offer has proved popular with investors because of the capital guarantee and the ability of the OM-IP 220 funds to record positive returns during the last three stockmarket corrections.

Australian research house van Eyk Research has written a report favouring the offer.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.24 5.10 5.25 5.59
ANZ Special - 4.69 4.89 -
ASB Bank 6.50 5.05 5.25 5.35
ASB Bank Special - 4.69 4.89 4.99
BankDirect 6.50 5.05 5.25 5.35
BankDirect Special - 4.69 4.89 4.99
BNZ - Mortgage One 6.65 - - -
BNZ - Rapid Repay 6.24 - - -
BNZ - Special - 4.69 4.69 -
BNZ - Std, FlyBuys 6.24 5.09 5.09 5.19
BNZ - TotalMoney 5.99 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
HBS Bank 6.14 5.39 5.39 5.39
HBS Special - 4.69 4.69 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.10 5.40 -
Housing NZ Corp 6.49 5.19 5.49 5.59
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.89 4.89 4.99
HSBC Premier LVR > 80% - - - -
HSBC Special - 4.49 4.49 4.49
ICBC 6.75 5.99 6.39 -
Kiwibank 6.15 4.79 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.65 4.99
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.70 5.65 5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.60 5.39 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.59 5.37 5.40 5.52
SBS Bank 6.14 5.39 5.39 5.39
SBS Bank Special - 4.69 4.69 4.99
Sovereign 6.35 5.05 5.25 5.35
Sovereign Special - 4.69 4.89 4.99
The Co-operative Bank 6.20 4.69 4.79 4.99
TSB Bank 6.24 5.10 5.39 5.45
TSB Special - 4.69 4.69 4.99
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.15 4.99 5.19 5.19
Westpac - Capped rates - 6.15 6.15 -
Westpac - Offset 6.15 - - -
Westpac Special - - 4.69 -
Median 6.40 5.09 5.25 5.35

Last updated: 18 August 2015 3:39pm

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