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News Round Up

New manager, new style, new building and new rates.

Monday, August 6th 2001, 6:47AM
A year ago investing in the technology sector was all the rage. Tech stocks were flying high, new funds were being rolled out and everyone was buying. Investors' heaven.

Ah, but that was an out-of-life experience. Reality struck when the tech bubble burst and many dotcom companies crashed. Others are still around, they just saw their share prices fall by 90%.

In Good Returns' latest Special Report we take a look at the tech sector a year after the crash and assess its health, and potential wealth. The report provides commentary on what has happened, plus features from experts giving their take on tech. That's not all. Fund fact sheets are also available so you can dig down to the next level and find out what funds are holding, how they have done and what individual managers are thinking. (More)

To top off the Special Report we have a new book all about the Tech Sector. Order your copy of Where's the Loot? in the bookstore. (Yes I want a copy)

Ordering books through Good Returns is safe. We use a secure server, alternatively you can place an order by phone on 0800-345675.

MORE TECH STORIES


Taking Tech's pulse and Assessing its Future
The Nuts and Bolts (or wire and solder) of Tech Funds

Tower appoints new bond manager
Tower Asset Management has changed the investment style and the manager for global fixed interest.

Merrill Lynch has been replaced by Pacific Investment Management Company (PIMCO).

The change comes about after a review by Tower Asset Management.

Previously Tower's global fixed interest investments were made almost exclusively in sovereign debt.

Tower says it can achieve a higher return with lower volatility by adopting an aggregate investment approach which includes Government debt as well as investment grade, non-government debt.

PIMCO are based in the United States and currently manage more than US$219 billion.

Millennium Centre latest addition to Trust
Colonial First State Property Trust is to buy the Millennium Centre in Greenlane Auckland for $42.6m from Manson Developments Limited.

The Centre is a recently completed high quality secure integrated office park development made up of three separate office buildings.

The acquisition increases the listed trust's portfolio to 16 properties with a total value of $250m.

The Millennium Centre, which produces a net income of $4.18m, is expected to add $700,000 annually to the trust's before tax profit.

The purchase is being funded by debt.

When completed the trust's average weighted lease term rises from 3.8 years to 4.4 years.

"The property is extremely well tenanted and provides long-term lease arrangements with ongoing opportunities for rental and capital growth," Colonial First State Property Trust general manager Lloyd Cundy says.

New investment rates
UDC's latest investment rates are:

  • UDC Secured Term Investment - 5.85% for one year. (Min $25,000)
  • UDC Telephone Call Account - 5.25% for more than $100,000, 5.10% for $20,000 to $100,000 and 4.75% for $5,000 to $20,000.
  • UDC Secured Term Investment - 7% for 5 years (min $25,000)
  • « US expert spells out prefunding problemsSovereign takes regulation bull by the horns »

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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 6.19
    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: 22 October 2014 7:07am

    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

    MORE QUIZZES »

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